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S&P Global Inc (MHL) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of S&P Global Inc €249, price €341, upside -27.0%, quality 80 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Financial Services · DE · ISIN US78409V1044

SP Some data Sep 29, 2026

S&P Global Inc

MHL · XETRA

Great Company, Expensive PriceHigh Quality, but the stock trades above estimated Fair Value.

!Fair value €248.63 · Overvalued (−27.0%)
✓Quality 80/100
✓Healthy Growth (revenue 5y +15.6 %/yr)
✓Highly profitable · 30.4% net margin (TTM)
✓Low debt · generates free cash flow
✓1.1% dividend yield · Well covered
✓Wide moat 73/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€514.37 €240.34 Fair Value €248.63 Nov 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range €240.34 – €514.37 · fair‑value band €129.58 – €399.86 · the €340.60 price screens above the €248.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices.

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S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics, and financial risk solutions. The S&P Global Ratings segment operates as an independent provider of credit ratings, research, and analytics offering investors information and independent benchmarks for their investment and financial decisions as well as access to the capital markets. The S&P Global Energy segment provides information and benchmark prices for the energy and commodity markets. The S&P Global Mobility segment offers solutions for the full automotive value chain, including vehicle manufacturers, automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies. The S&P Dow Jones Indices segment operates as an index provider that maintains various valuation and index benchmarks for investment advisors, wealth managers, and institutional investors. It has operations in the United States, European region, Asia, and internationally. S&P Global Inc. was founded in 1860 and is headquartered in New York, New York.

Stock analysis

S&P Global Inc (MHL) currently trades at €340.60, while our model-based Fair Value estimate is €248.63, 27.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €254.45 per share, and 3 of the 11 models we run sit above the €340.60 price.

Bear case: the Asset-Based group reads lowest at €62.59, and 8 of the 11 models stay below the price. Evidence for this calculation is medium.

Scenario range: €129.58 (bear) to €399.86 (bull), the price of €340.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 80/100 (high quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

S&P Global Inc reported revenue of $15.3B in FY2025 versus $8.3B in FY2021, a compound +16.6%/yr. Reported net income was $4.5B in FY2025, compounding +10.3%/yr from FY2021.

Key figures

Market cap €119B · P/E ratio 24.6 · P/S ratio 7.16 · EPS (TTM) €13.87 · Dividend yield 1.1% · Net margin 29.2% · Return on equity 13.9% · Return on assets (EBIT) 11.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −25% fair-value upside, at −27%, MHL screens richer than that median.

Fair Value models

Bear €129.58 Fair Value €248.63 Bull €399.86
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€7.58 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Growth DCF €193.14 €375.15 €691.88 75
Residual Income €91.96 €118.43 €179.75 75
Owner Earnings €196.40 €399.60 €766.21 72
All 11 models by family
DCF Models
Owner Earnings €196.40 €399.60 €766.21 72
5Y P/E Exit €123.38 €231.85 €356.56 69
10Y P/E Exit €145.73 €254.45 €409.48 62
Earnings-Based
Graham-Dodd €91.24 €463.11 €639.67 64
Lynch FV €125.86 €179.79 €233.73 61
Multiples
P/E Multiple €130.82 €174.43 €218.03 63
P/B Multiple €98.08 €130.78 €163.47 55
Asset-Based
NCAV (Graham) €46.71 €62.59 €93.41 54
Growth DCF
Growth DCF €193.14 €375.15 €691.88 75
Rev-Margin DCF €83.80 €148.69 €235.21 71
Economic Profit
Residual Income €91.96 €118.43 €179.75 75

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Quality Score breakdown

Overall quality 80/100

Of which business quality 75 · Market factors (momentum, volatility) 35

Profitability 50
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+7.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)1.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.48% → 40%
2025 sits 52% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

Growth Forecast

A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +8.2% a year for the price and −0.2% for the forecasts.
Forecast 2026 (sales)−0.4%
Forecast 2027 (sales)+3.0%
Projected 2028 (sales)+2.9%
Projected 2029 (sales)+2.8%
Projected 2030 (sales)+2.7%

MHL screens overvalued: fair value 27% below the price. Compare with CME Group →

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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S&P Global Inc · Fair Value
€248.63 −27%Fair Value
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Cite: Fair Value Calculator (2026). "S&P Global Inc Fair Value". https://www.fairvalue-calculator.com/stock/MHL

Frequently asked questions

Is S&P Global Inc (MHL) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €248.63 versus a price of €340.60, about −27% upside (overvalued).
What is the fair value of MHL?
Our model-based fair value for S&P Global Inc is €248.63 (as of Sep 29, 2026), built from audited fundamentals. The current price: €340.60.
What is the quality score of MHL?
S&P Global Inc has a Quality Score of 80/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for S&P Global Inc (MHL)?
Our model-based price target is the fair value of €248.63 (as of Sep 29, 2026) from 11 valuation models. Cautious scenario €129.58, optimistic scenario €399.86. It is a calculation from audited fundamentals, not an analyst target.
What is the S&P Global Inc stock forecast for 2026?
Our models put fair value at €248.63, about −27% upside versus a price of €340.60 (overvalued). Cautious scenario €129.58, optimistic scenario €399.86. The calculation is refreshed regularly with new filings.
What is the revenue of S&P Global Inc (MHL)?
S&P Global Inc reported trailing-twelve-month revenue of about $15.7B (latest available figure, as of Sep 29, 2026).
Does S&P Global Inc pay a dividend?
S&P Global Inc currently shows a dividend yield of about 1.13% relative to its recent price (as of Sep 29, 2026).
What growth is priced into S&P Global Inc (MHL)?
For today's price to be fair in a discounted-cash-flow model, S&P Global Inc would have to grow free cash flow by +10.8 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.6 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of MHL use?
Our models discount S&P Global Inc at 9.2 %: a base by market capitalisation (large), damped by beta 1.08, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For S&P Global Inc that is +10.8 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has S&P Global Inc (MHL) delivered so far?
Over the past 5 years revenue at S&P Global Inc grew +15.6 % a year. The price currently implies +10.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of S&P Global Inc (MHL) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into S&P Global Inc (+10.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of S&P Global Inc (MHL)?
The free-cash-flow yield on the price is 4.76 %: that much free cash flow S&P Global Inc produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of S&P Global Inc (MHL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For S&P Global Inc it is €248.63 per share (as of Sep 29, 2026), against a price of €340.60. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is S&P Global Inc stock overvalued or undervalued in 2026?
As of Sep 29, 2026, MHL trades above its calculated fair value: price €340.60, fair value €248.63, a gap of about −27% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MHL?
No. The price is what the market pays today (€340.60); the fair value is what the company's own numbers justify (€248.63). For S&P Global Inc the two are €91.97 per share apart. That gap is exactly why we show both numbers side by side.
How much is S&P Global Inc worth?
The market values S&P Global Inc at about €119B (market capitalisation, as of Sep 29, 2026). Per share that is €340.60; our models calculate a fair value of €248.63 per share.
What do the bullish and bearish scenarios say about MHL?
Our models span a range for S&P Global Inc: cautious scenario €129.58, base €248.63, optimistic €399.86 per share (as of Sep 29, 2026, price €340.60). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is MHL from its 52-week high?
S&P Global Inc trades at €340.60, about 28% below its 52-week high of €470.58 and 5% above the low of €323.03 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €248.63 is for.
Which stocks are comparable to S&P Global Inc?
From the same area (Financial Services) we also value CME Group, Intercontinental Exchange, Inc, Moody's Corporation, Deutsche Börse AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is S&P Global Inc stock attractive at the current price?
The data as of Sep 29, 2026: price €340.60, calculated fair value €248.63 (−27%), Quality Score 80/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MHL calculated?
We run S&P Global Inc through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €248.63, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. S&P Global Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of S&P Global Inc (MHL)?
The closing price on Oct 2, 2026 was €340.60. Our model-based fair value is €248.63, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with S&P Global Inc right now?
A high-quality business (quality 80/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The model range is unusually wide (€129.58 to €399.86). The outcome hinges heavily on assumptions, so read the point estimate with caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of S&P Global Inc

How large is the market capitalisation of S&P Global Inc (MHL)?
The market capitalisation of S&P Global Inc is €119B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of S&P Global Inc (MHL)?
The price-to-earnings ratio of S&P Global Inc is 24.6. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of S&P Global Inc (MHL)?
The price-to-sales ratio of S&P Global Inc is 7.16 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of S&P Global Inc (MHL)?
Earnings per share at S&P Global Inc are €13.87 (price ÷ EPS = P/E 24.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of S&P Global Inc (MHL)?
The dividend yield of S&P Global Inc is 1.1% (payout 27.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of S&P Global Inc (MHL)?
The net margin of S&P Global Inc is 29.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of S&P Global Inc (MHL)?
The return on equity (ROE) of S&P Global Inc is 13.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of S&P Global Inc (MHL)?
On an EBIT basis the return on assets of S&P Global Inc is 11.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of S&P Global Inc (MHL)?
The operating margin of S&P Global Inc is 44.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at S&P Global Inc (MHL)?
Revenue at S&P Global Inc is growing +10.4% versus a year earlier (3y avg +11.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at S&P Global Inc (MHL)?
Earnings per share at S&P Global Inc are growing +32.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does S&P Global Inc (MHL) carry?
The net debt of S&P Global Inc is $11.3B (fiscal year 2025, ≈ 2.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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