S&P Global (SPGI) 10-K Red Flags
Risk signals extracted deterministically from S&P Global’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (16)
- Going concern doubt: The term "going concern" appears in 16 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 23 recent filing(s) (vs 3 in the prior period). This risk language is ongoing.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 10 filing(s).
- Restatement of financial statements: The term "restate" "financial statements" appears in 2 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.41x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Goodwill is 60% of total assets: Goodwill of $36.36B represents a large share of the balance sheet. If acquired businesses underperform, a non-cash impairment charge could materially impact earnings. Monitor segment performance and acquisition integration metrics.
- Endogenous analysis: 4 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Substantial doubt about ability to continue, Off-balance sheet arrangements.
- Ongoing high-severity risk language: Going concern doubt, Material weakness in internal controls, Restatement of financial statements.
- Market cap $130.21B at $439.89 per share.
- Trailing P/E 53.45, P/S 24.51, P/B 4.18.
- Composite risk: Elevated.
- Leverage debt/equity 0.43 (moderate).
- Going concern doubt: The term "going concern" appears in 16 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 23 recent filing(s) (vs 3 in the prior period). This risk language is ongoing.
Filings & ownership
- Latest annual report (10-K) filed Feb 11, 2026.
- Latest quarterly report (10-Q) filed Apr 28, 2026.
- 20 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~3647 recent 13F-HR filings reference S&P Global; broad institutional reporting.
- Recent filers include UNITED BANK INC /WV/, UNITED BANK INC /WV/, UNITED BANK INC /WV/.
- 3 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 17 recent 13G passive institutional ownership notices.
Full SPGI analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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