32-33
S&P Global Market Intelligence

spglobal.com/marketintelligence

Data. Research. Analytics.

S&P Global Market Intelligence is a leading provider of actionable intelligence on the global financial markets and the companies and industries that make up those markets.

By integrating world news, comprehensive market and asset-level data, and industry insights with powerful analytics, S&P Global Market Intelligence’s analytical solutions and data services help users understand market dynamics, identify investment opportunities, assess risk, perform valuations, and track performance.

Quality data from our S&P Global, S&P Capital IQ, SNL, and Compustat collections includes expansive global coverage and deep sector-specific metrics. Key capabilities include the Market Intelligence and S&P Capital IQ platforms, credit assessment tools, and enterprise data feeds with  a range of delivery options.

The S&P Global Market Intelligence division was formed by the integration of S&P Capital IQ and SNL Financial LC, which was acquired in September 2015.

Our Focus Forward

Leverage strong content heritage to expand core franchise

Streamline and enrich the customer experience across all delivery platforms

Harness new data sources and technology to extend into new geographies and growth areas such as ESG

How S&P Global Market Intelligence
Generates Revenue

  • Desktop:
    S&P Capital IQ and Market Intelligence platforms, sector-focused news, and third-party research
    (subscription and non-subscription revenue)
  • Credit Risk Solutions:
    RatingsDirect®, RatingsXpress®, and Credit Analytics and Scorecards
    (subscription and non-subscription revenue)
  • Data Management Solutions:
    Xpressfeed, CUSIP®, GICS®, and cross-reference data
    (subscription and non-subscription revenue)

Revenue by Type

(dollars in millions)

96%
3%
1%
97%
2%
1%
97%
2%
1%
'17
'18
'19
Subscription
$1,614
$1,773
$1,904
Non-Subscription
46
40
45
Asset-linked fees
23
20
10
Total revenue
$1,683
$1,833
$1,959

Revenue by Geography

(dollars in millions)

66%
34%
64%
36%
62%
38%
'17
'18
'19
U.S.
$1,114
$1,180
$1,213
Ex-U.S.
569
653
746
Total revenue
$1,683
$1,833
$1,959

Revenue Mix

(percentage of revenue)

Desktop: 52%2019

S&P Global Market Intelligence’s revenue is 97% subscription-based with renewal rates at 96%

Revenue Is Diversified Across Customer Segments

Almost half of S&P Global Market Intelligence’s revenue is from the investment banking and investment management segments, as shown in the chart at right. The private equity, commercial banks and insurance, corporations, and other professional services firm segments compose the other half.

Organic Revenue by Customer Segment

Investment Management +6% Investment Banking +6% Private Equity +6% Commercial Banks and Insurance +9% Corporations +6% Other +6% ’18 22% 15% 10% 22% 7% 24% ’19 22% 15% 10% 23% 24% 7% >50% <50% Growth Rates

Note:  Revenue composition and growth rates exclude divested and acquired businesses during 2018–2019

Results exclude Trucost

Data Feed and API Products
Are Growing and Represent
~20% of Revenue

Today’s clients are looking for data and content to fuel a variety of processes. This is driving strong growth in S&P Global Market Intelligence’s Data Management Solutions product category, which offers company fundamentals, cross-reference, Trucost data, alternative data, and other S&P Global content through Xpressfeed, API, and cloud delivery. In addition, approximately half of Credit Risk Solutions revenue is from data feeds.

Data Management Solutions Revenue

(dollars in millions)

0’17’18’19Desktop: 52%S&P Global Market Intelligence

Investment Spending Weighed on 2019 Margin Expansion

S&P Global Market Intelligence’s planned investment activity associated with China, Marketplace, SME, and ESG increased as spending weighed on margin expansion.


Adjusted Operating Profit Margin

’18’19’1732.1%34.1%34.2%

S&P Global Market Intelligence is orienting its commercial model to effectively address its customers’ challenges and help them design solutions

Notes:

2019 results reflect the acquisition of 451 Research, LLC and divestiture of Standard & Poor’s Investment Advisory Services LLC

2018 results reflect the acquisitions of the RateWatch business and Panjiva, Inc.

2017 results reflect the divestiture of QuantHouse

Division revenues do not include interdivision revenue elimination