S&P Global announces growth targets and new share buyback program

S&P Global (NYSE: SPGI) presented medium-term financial targets and announced a new share repurchase program at its 2025 Investor Day held in New York.

The company set non-GAAP financial targets including 7% to 9% organic constant currency revenue growth annually, 50-75 basis points of adjusted operating margin expansion, and double-digit adjusted diluted earnings per share growth. These targets exclude contributions from S&P Global Mobility, which the company plans to separate into a standalone public company.

S&P Global's board authorized a new share repurchase program for up to 30 million shares. The company previously announced a $2.5 billion accelerated share repurchase expected to launch in the fourth quarter. S&P Global maintains its capital return framework of returning approximately 85% of adjusted free cash flow to shareholders through dividends and share repurchases.

The company outlined divisional revenue growth targets: Market Intelligence at 6% to 8%, Ratings at 6% to 9%, Energy at 6% to 8%, and S&P Dow Jones Indices at 10% to 12%. S&P Global rebranded its Commodity Insights division as S&P Global Energy to reflect its strategic focus on the expanding global energy ecosystem.

"We have a clear strategy that we expect will advance our current leadership positions and enable us to grow faster in high-growth adjacencies, while amplifying our enterprise capabilities and integration of AI," said CEO Martina Cheung.

The company's strategy centers on three objectives: advancing market leadership, expanding high-growth adjacencies including private markets and energy, and amplifying enterprise capabilities and artificial intelligence integration.

S&P Global expects to discuss these targets for its four core divisions during the investor presentation but will not provide 2026 financial guidance until its fourth-quarter earnings in February 2026.

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