Both stocks run through our valuation models. Here is how Icra (ICRA) and S&P Global (SPGI) compare, as of Aug 17, 2026.
As of Aug 17, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: Icra trades at ₹5,266 versus a fair value of ₹2,452 (-53%), while S&P Global trades at $419 versus $196 (-53%).
Icra
ICRA.NSE · INR · Financials
-53%
upside to fair value
overvalued
Price₹5,266
Fair Value₹2,452
Quality71/100
S&P Global
SPGI · USD · Financials
-53%
upside to fair value
overvalued
Price$419
Fair Value$196
Quality80/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
IcraS&P Global
Valuation
27.9×P/E (TTM)28.1×
8.61×P/S (TTM)8.61×
4.37×P/B4.33×
23.8×EV/EBITDA18.6×
—PEG1.85×
1.3%Dividend yield0.9%
₹70.00Dividend per share$3.85
Profitability
30%Net margin30%
34%Operating margin44%
16%Return on equity14%
8%Return on assets7%
Growth
4%Revenue growth (YoY)10%
14.1%Avg. growth/yr (3Y)11.1%
15.0%Avg. growth/yr (5Y)15.6%
Balance & size
—Debt / equity0.40×
$542MMarket cap$135B
healthyGrowth qualityhealthy
Even match: 6 to 6 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Icraof which business quality 68 · market factors 45S&P Globalof which business quality 74 · market factors 43
ProfitabilityMargins and returns on capital today
56
50
Quality GrowthAre margins and returns improving?
39
59
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
70
100
Low VolatilityCalm price path (market factor)
93
60
MomentumPrice trend over the last 3–12 months (market factor)
29
45
52W MomentumDistance to the 52-week high (market factor)
16
21
Net IssuanceBuybacks instead of dilution
81
99
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Icra
DCF Models₹3,219
Earnings-Based₹3,964
Dividend Discount₹1,074
Multiples₹2,085
Asset-Based₹822
Growth DCF₹2,935
Economic Profit₹1,644
12 of 13 models see the stock below the current price.
S&P Global
DCF Models$217
Earnings-Based$214
Dividend Discount$68.00
Multiples$172
Asset-Based$70.70
Growth DCF$208
Economic Profit$133
13 of 13 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Icra
Bear ₹1,830Fair Value ₹2,452Bull ₹3,487
₹5,266 = current price (white tick)
S&P Global
Bear $135Fair Value $196Bull $300
$419 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Icra · Financials
Quality score71 · Top 25%
Fair value upside-53% · bottom 25%
S&P Global · Financials
Quality score80 · Top 25%
Fair value upside-53% · bottom 25%
Bottom line
As of Aug 17, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: Icra trades at ₹5,266 versus a fair value of ₹2,452 (-53%), while S&P Global trades at $419 versus $196 (-53%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
