Valuation
26% of the score
59median 53
S&P Global is valued at 21.9x its operating profit before acquisition amortisation (EBITA), including debt: a rich multiple.
60x
50x
35x
25x
18x
12x
8x
21.9x
Full points at 8x or less, none from 60xfull points
SPGIS&P Global
$450.28-4.0% 1Y
$450.28
$386.3252 weeks$543.82
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 60 out of 100, Above average
Today's price. Only valuation depends on it.
Above average. S&P Global scores higher than 59% of the 2,231 companies Ryufin scores.
Carried by return on new capital and return on capital, held back by capital allocation.
Financial Services median 61 · all companies 55
How the score has moved
At each fiscal year end, from the reports and price of the time78
74
66
56
57
57
60
202020212022202320242025today
The biggest move was down 10 points from 2022 to 2023, mostly valuation.
Return on capital
18% of the score
66median 24
Over 7 years the business earned 12% a year after tax on the capital it uses.
2%
8%
15%
25%
12%
None at 2% or less, full points from 25%full points
7 years agolatest 9.6%
Return on new capital
16% of the score
78median 33
For every dollar of operating profit earned over 6 years, yearly profit grew by 8 cents. New capital earned 3.4%, and 243% of profit went back into the business.
-5%
12%
8.3%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
2median 63
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 4.7% a year over 5 years: new shares
35%
-3%
4.7%
0 pointsfull points
Assets against salesAssets grew 37% a year, sales 16%
012%
-2%
22%
0 pointsfull points
Cycle position
12% of the score
67median 63
Today's operating margin of 42% is 0.98x its normal 43%: close to its usual level. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
1x
A trough earns points, a peak costs themfull points
10 years agonow 42%
Balance sheet
8% of the score
85median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA1.7x a year of EBITDA
704.5x
0.5x
1.7x
0 pointsfull points
Interest coverOperating profit covers interest 23x
1001.5x
12x
22.6x
0 pointsfull points
Earnings quality
6% of the score
85median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 1.38x profit over 3 years
1000.7x
1x
1.3x
1.4x
0 pointsfull points
AccrualsCash ran ahead of profit by 1.9% of assets
708%
0%
-8%
-1.9%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there.
On our screens:Stocks that buy back more than they dilute