S&P Global: Strong Hints at Impending Stock Price Recovery
S&P Global (NYSE:SPGI) has been one of the best compounders in the past decade, with its share price up over 750% during the period, comfortably beating the return of the S&P 500 index.
S&P Global (NYSE:SPGI) has been one of the best compounders in the past decade, with its share price up over 750% during the period, comfortably beating the return of the S&P 500 index. However, amid high inflation, rising rates, and recessionary fears, the company is now trading 23% below its all-time high.
In late 2020, S&P Global merged with IHS Markit in a $44 billion all-stock deal, transforming the company into a financial powerhouse. IHS Markit specializes in analytics and information solutions for the financial markets. The merger allows S&P Global to diversify its revenue stream and further expand into the analytical space, which presents a huge growth opportunity. After the merger, S&P Global has regrouped and is now divided into 5 segments: market intelligence, ratings, mobility, commodity insights, and indices.
S&P Global recently announced its Q4 earnings and it recorded a double beat with solid guidance. The company reported revenue of $2.94 billion, up 41% compared to $2.1 billion. Indices was the best-performing segment, with revenue up 14% to $344 million. The mobility segment was also strong with revenue up 9%. On a pro forma basis, operating profit was down 10% from $1.34 billion to $1.21 billion. Diluted EPS was $2.54 compared to $2.67, representing a decrease of 5%. The softness in the bottom line was also attributed to the rating segment.
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