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STOCK COMPARISON

S&P Global vs TMX Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how S&P Global (SPGI) and TMX Group (X) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: S&P Global trades at $451 versus a fair value of $196 (-56%), while TMX Group trades at C$54.16 versus C$19.57 (-64%).
S&P Global
SPGI · USD · Financials
-56%
upside to fair value
overvalued
Price$451
Fair Value$196
Quality80/100
TMX Group
X.TO · CAD · Financials
-64%
upside to fair value
overvalued
PriceC$54.16
Fair ValueC$19.57
Quality55/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

S&P GlobalTMX Group
Valuation
28.1×P/E (TTM)28.3×
8.61×P/S (TTM)5.54×
4.33×P/B2.08×
18.6×EV/EBITDA10.7×
1.85×PEG1.43×
−56.4%Fair value upside−63.9%
0.9%Dividend yield1.6%
$3.85Dividend per shareC$0.88
Profitability
44%Operating margin50%
0.87×EBIT margin trend (5Y)0.55×
14%Return on equity12%
7%Return on assets1%
Growth
10%Revenue growth (YoY)17%
11.1%Avg. growth/yr (3Y)37.9%
15.6%Avg. growth/yr (5Y)27.6%
+8.4%Value creation/yr+10.2%
Balance & size
22.6×Interest coverage (EBIT/interest)0.6×
0.40×Debt / equity0.33×
$135BMarket cap$10B
healthyGrowth qualityhealthy

TMX Group leads: 5 to 10 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.

S&P Globalof which business quality 74 · market factors 45 TMX Groupof which business quality 49 · market factors 63
ProfitabilityMargins and returns on capital today
50
26
Quality GrowthAre margins and returns improving?
59
41
CashflowEarnings quality: real cash, not paper profit
88
80
Fin. StrengthBalance sheet, leverage, solvency risk
66
4
InvestmentDisciplined investing over empire-building
100
86
Low VolatilityCalm price path (market factor)
59
89
MomentumPrice trend over the last 3–12 months (market factor)
41
50
52W MomentumDistance to the 52-week high (market factor)
35
56
Net IssuanceBuybacks instead of dilution
99
81

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 familyS&P GlobalPrice $451TMX GroupPrice C$54.16
DCF Models-52%below the price$217-40%below the priceC$32.56
Earnings-Based-52%below the price$214-24%below the priceC$41.23
Dividend Discount-85%below the price$68.00n/a
Multiples-62%below the price$172-60%below the priceC$21.85
Asset-Based-84%below the price$70.70-79%below the priceC$11.54
Growth DCF-54%below the price$208-23%below the priceC$41.85
Economic Profit-70%below the price$133-71%below the priceC$15.92
Minimum-85%below the price$68.00-79%below the priceC$11.54
Maximum-52%below the price$217-23%below the priceC$41.85
Median-62%below the price$172-50%below the priceC$27.20
Geometric mean-69%below the price$140-54%below the priceC$24.67

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%.

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

TMX Group: 10 of 11 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.

S&P Global
Bear $135Fair Value $196Bull $300
$451 = current price (white tick)
TMX Group
Bear C$15.17Fair Value C$19.57Bull C$27.22
C$54.16 = 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.

S&P Global · Financials

Quality score80 · Top 25%
Fair value upside-56% · bottom 25%

TMX Group · Financials

Quality score55 · above median
Fair value upside-64% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees S&P Global as the less overvalued of the two: S&P Global trades at $451 versus a fair value of $196 (-56%), while TMX Group trades at C$54.16 versus C$19.57 (-64%).

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

See the full analysis →
S&P Global · TMX Group

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