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标普全球（SPGI）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是标普全球的1.1倍（$4.4B vs $4.2B），标普全球净利率更高（36.1% vs 26.8%，领先9.3%），标普全球同比增速更快（191.7% vs 10.0%），标普全球自由现金流更多（$919.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% vs 8.4%）
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息、数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球市场财智、标普全球能源、标普全球移动、印度信用评级机构CRISIL等业务板块，同时控股合资企业标普道琼斯指数。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
SPGI vs VG — 直观对比
营收规模更大
VG
是对方的1.1倍
$4.2B
营收增速更快
VG
高出181.7%
10.0%
净利率更高
SPGI
高出9.3%
26.8%
自由现金流更多
SPGI
多$2.4B
$-1.5B
两年增速更快
VG
近两年复合增速
8.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.4B |
| 净利润 | $1.5B | $1.2B |
| 毛利率 | — | — |
| 营业利润率 | 48.0% | 38.7% |
| 净利率 | 36.1% | 26.8% |
| 营收同比 | 10.0% | 191.7% |
| 净利润同比 | 28.0% | 20.3% |
| 每股收益（稀释后） | $4.69 | $0.41 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收SPGIVG
| Q1 26 | $4.2B | — | ||
| Q4 25 | $3.9B | $4.4B | ||
| Q3 25 | $3.9B | $3.3B | ||
| Q2 25 | $3.8B | $3.1B | ||
| Q1 25 | $3.8B | $2.9B | ||
| Q4 24 | $3.6B | $1.5B | ||
| Q3 24 | $3.6B | $926.0M | ||
| Q2 24 | $3.5B | $1.1B |
净利润SPGIVG
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.2B | $550.0M | ||
| Q2 25 | $1.1B | $475.0M | ||
| Q1 25 | $1.1B | $517.0M | ||
| Q4 24 | $879.0M | $990.0M | ||
| Q3 24 | $971.0M | $-294.0M | ||
| Q2 24 | $1.0B | $352.0M |
毛利率SPGIVG
| Q1 26 | — | — | ||
| Q4 25 | 70.1% | — | ||
| Q3 25 | 71.2% | — | ||
| Q2 25 | 70.2% | — | ||
| Q1 25 | 69.5% | — | ||
| Q4 24 | 69.8% | — | ||
| Q3 24 | 70.0% | — | ||
| Q2 24 | 69.4% | — |
营业利润率SPGIVG
| Q1 26 | 48.0% | — | ||
| Q4 25 | 42.7% | 38.7% | ||
| Q3 25 | 43.1% | 39.7% | ||
| Q2 25 | 41.3% | 33.5% | ||
| Q1 25 | 41.8% | 37.3% | ||
| Q4 24 | 36.4% | 39.0% | ||
| Q3 24 | 40.1% | 20.4% | ||
| Q2 24 | 40.9% | 32.8% |
净利率SPGIVG
| Q1 26 | 36.1% | — | ||
| Q4 25 | 28.9% | 26.8% | ||
| Q3 25 | 30.2% | 16.5% | ||
| Q2 25 | 28.5% | 15.3% | ||
| Q1 25 | 28.9% | 17.9% | ||
| Q4 24 | 24.5% | 65.0% | ||
| Q3 24 | 27.2% | -31.7% | ||
| Q2 24 | 28.5% | 31.8% |
每股收益（稀释后）SPGIVG
| Q1 26 | $4.69 | — | ||
| Q4 25 | $3.76 | $0.41 | ||
| Q3 25 | $3.86 | $0.16 | ||
| Q2 25 | $3.50 | $0.14 | ||
| Q1 25 | $3.54 | $0.15 | ||
| Q4 24 | $2.85 | $0.35 | ||
| Q3 24 | $3.11 | $-0.15 | ||
| Q2 24 | $3.23 | $0.12 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $2.4B |
| 总债务越低越好 | $13.3B | $34.2B |
| 股东权益账面价值 | $31.3B | $6.7B |
| 总资产 | $60.8B | $53.4B |
| 负债/权益比越低杠杆越低 | 0.43× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资SPGIVG
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.4B | ||
| Q3 25 | $1.7B | $1.9B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.5B | $3.6B | ||
| Q4 24 | $1.7B | $3.6B | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $2.0B | — |
总债务SPGIVG
| Q1 26 | $13.3B | — | ||
| Q4 25 | $13.1B | $34.2B | ||
| Q3 25 | $11.4B | $32.6B | ||
| Q2 25 | $11.4B | $30.0B | ||
| Q1 25 | $11.4B | $29.3B | ||
| Q4 24 | $11.4B | $29.3B | ||
| Q3 24 | $11.4B | — | ||
| Q2 24 | $11.4B | — |
股东权益SPGIVG
| Q1 26 | $31.3B | — | ||
| Q4 25 | $31.1B | $6.7B | ||
| Q3 25 | $33.1B | $5.7B | ||
| Q2 25 | $33.4B | $5.3B | ||
| Q1 25 | $33.4B | $4.9B | ||
| Q4 24 | $33.2B | $2.9B | ||
| Q3 24 | $34.0B | — | ||
| Q2 24 | $34.9B | — |
总资产SPGIVG
| Q1 26 | $60.8B | — | ||
| Q4 25 | $61.2B | $53.4B | ||
| Q3 25 | $59.7B | $50.1B | ||
| Q2 25 | $60.4B | $46.5B | ||
| Q1 25 | $59.9B | $45.1B | ||
| Q4 24 | $60.2B | $43.5B | ||
| Q3 24 | $60.4B | — | ||
| Q2 24 | $61.0B | — |
负债/权益比SPGIVG
| Q1 26 | 0.43× | — | ||
| Q4 25 | 0.42× | 5.07× | ||
| Q3 25 | 0.34× | 5.73× | ||
| Q2 25 | 0.34× | 5.69× | ||
| Q1 25 | 0.34× | 6.01× | ||
| Q4 24 | 0.34× | 10.11× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.33× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $919.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 22.0% | -34.1% |
| 资本支出强度资本支出/营收 | 0.6% | 81.6% |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | $5.5B | $-6.8B |
8季度趋势，按日历期对齐
经营现金流SPGIVG
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.5B | $1.9B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $953.0M | $1.1B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.6B | — |
自由现金流SPGIVG
| Q1 26 | $919.0M | — | ||
| Q4 25 | $1.7B | $-1.5B | ||
| Q3 25 | $1.5B | $-1.4B | ||
| Q2 25 | $1.4B | $-1.5B | ||
| Q1 25 | $910.0M | $-2.4B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.5B | — |
自由现金流率SPGIVG
| Q1 26 | 22.0% | — | ||
| Q4 25 | 43.5% | -34.1% | ||
| Q3 25 | 37.6% | -42.4% | ||
| Q2 25 | 36.9% | -49.1% | ||
| Q1 25 | 24.1% | -81.3% | ||
| Q4 24 | 47.5% | — | ||
| Q3 24 | 39.4% | — | ||
| Q2 24 | 42.9% | — |
资本支出强度SPGIVG
| Q1 26 | 0.6% | — | ||
| Q4 25 | 1.2% | 81.6% | ||
| Q3 25 | 1.2% | 98.9% | ||
| Q2 25 | 1.6% | 96.1% | ||
| Q1 25 | 1.1% | 119.8% | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 0.9% | — |
现金转化率SPGIVG
| Q1 26 | — | — | ||
| Q4 25 | 1.54× | 1.77× | ||
| Q3 25 | 1.28× | 3.42× | ||
| Q2 25 | 1.35× | 3.07× | ||
| Q1 25 | 0.87× | 2.15× | ||
| Q4 24 | 1.98× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.54× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
SPGI
| Ratings | $1.3B | 31% |
| Market Intelligence | $1.3B | 31% |
| Energy | $652.0M | 16% |
| Indices | $519.0M | 12% |
| Mobility | $454.0M | 11% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
