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STOCK COMPARISON

Multi Commodity Exchange of India vs S&P Global: Fair Value & Quality

Both stocks run through our valuation models. Here is how Multi Commodity Exchange of India (MCX) and S&P Global (SPGI) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Multi Commodity Exchange of India as the less overvalued of the two: Multi Commodity Exchange of India trades at ₹3,374 versus a fair value of ₹2,177 (-35%), while S&P Global trades at $407 versus $216 (-47%).
Multi Commodity Exchange of India
MCX.NSE · INR · Financials
-35%
upside to fair value
overvalued
Price₹3,374
Fair Value₹2,177
Quality80/100
S&P Global
SPGI · USD · Financials
-47%
upside to fair value
overvalued
Price$407
Fair Value$216
Quality80/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Multi Commodity Exchange of IndiaS&P Global
Valuation
62.1×P/E (TTM)25.0×
35.42×P/S (TTM)8.61×
30.21×P/B4.33× · book value is mostly goodwill
47.1×EV/EBITDA18.6×
n/aPEG1.85×
−35.5%Fair value upside−47.0%
0.2%Dividend yield0.9%
₹8.00Dividend per share$3.85
Profitability
74%Operating margin44%
0.18×EBIT margin trend (5Y)0.87×
38%Return on equity14%
18%Return on assets7%
Growth
200%Revenue growth (YoY)10%
75.7%Avg. growth/yr (3Y)11.1%
47.5%Avg. growth/yr (5Y)15.6%
+42.8%Value creation/yr+8.4%
Balance & size
5,163.8×Interest coverage (EBIT/interest)22.6×
n/aDebt / equity0.40×
$9BMarket cap$135B
healthyGrowth qualityhealthy

Multi Commodity Exchange of India leads: 7 to 5 metric wins.

n/a = 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.

Multi Commodity Exchange of Indiaof which business quality 80 · market factors 83 S&P Globalof which business quality 74 · market factors 42
ProfitabilityMargins and returns on capital today
74
50
Quality GrowthAre margins and returns improving?
83
59
CashflowEarnings quality: real cash, not paper profit
100
88
Fin. StrengthBalance sheet, leverage, solvency risk
88
66
InvestmentDisciplined investing over empire-building
32
100
Low VolatilityCalm price path (market factor)
69
60
MomentumPrice trend over the last 3–12 months (market factor)
84
42
52W MomentumDistance to the 52-week high (market factor)
98
22
Net IssuanceShare count: buybacks or dilution?
81
99

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyMulti Commodity Exchange of IndiaPrice ₹3,374S&P GlobalPrice $407
DCF Models-45%below the price₹1,858-45%below the price$222
Earnings-Based-36%below the price₹2,156-47%below the price$214
Dividend Discount-97%below the price₹98.06-83%below the price$68.00
Multiples-88%below the price₹418-58%below the price$172
Asset-Based-98%below the price₹74.97-83%below the price$70.70
Growth DCF+10%close to the price₹3,720-47%below the price$217
Economic Profit-73%below the price₹898-67%below the price$133
Minimum-98%below the price₹74.97-83%below the price$68.00
Maximum+10%close to the price₹3,720-45%below the price$222
Median-73%below the price₹898-58%below the price$172
Geometric mean-81%below the price₹634-65%below the price$142

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Multi Commodity Exchange of India: 11 of 12 models see the stock below the current price.

S&P Global: 13 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Multi Commodity Exchange of India
Price ₹3,374
Fair Value ₹2,177
Bear ₹510Bull ₹4,670
S&P Global
Price $407
Fair Value $216
Bear $140Bull $306

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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.

Multi Commodity Exchange of India · Financials

Quality score80 · Top 25%
Fair value upside-35% · below median

S&P Global · Financials

Quality score80 · Top 25%
Fair value upside-47% · bottom 25%

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Multi Commodity Exchange of India as the less overvalued of the two: Multi Commodity Exchange of India trades at ₹3,374 versus a fair value of ₹2,177 (-35%), while S&P Global trades at $407 versus $216 (-47%).

S&P Global has the higher quality score (80/100).

Open Multi Commodity Exchange of India live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.