S&P Global (SPGI) Investor Day 2026 summary

Strategic vision and market opportunity

• Preparing for a mid-2026 spin-off to become an independent public company, targeting the $8 trillion global automotive market and leveraging over 100 years of industry experience.

• Positioned as a scaled industry leader with $1.75B revenue and 8.6% CAGR from 2023–2025, serving OEMs, suppliers, dealers, and consumers globally.

• Addressing a $78B total addressable market by 2025, with $40B in core and extended segments and $38B in adjacent opportunities.

• Focused on unifying operations, infusing AI across products, and expanding market position through deeper penetration, new solutions, and international growth.

• Industry trends such as electrification, supply chain shifts, autonomous vehicles, rising vehicle prices, and demand for transparency are increasing the need for trusted, decision-grade data.

Business segments and growth drivers

• Business operates in two main segments: B2B solutions (35% of revenue) serving OEMs, suppliers, and dealers, and CARFAX (65% of revenue) focused on consumer automotive information.

• B2B Solutions generated $608M in FY25, with 82% subscription revenue and 4.5% CAGR; covers nearly all global OEMs and top suppliers.

• CARFAX delivered $1.14B in FY25, with 81% subscription revenue and ~11% CAGR; 96% in-market awareness and 53M+ Car Care customers.

• Both segments leverage proprietary data, AI-driven insights, and strong network effects to drive adoption, upsell, and international expansion.

• Significant runway remains, with less than 50% penetration of current offerings among existing customers and ambitious goals to expand direct consumer relationships from 53 million to 150 million in North America and 1 billion globally.

Core assets and competitive differentiation

• Proprietary data estate built from 177,000 sources, including 38 billion records and deep relationships with OEMs, dealers, service shops, and police agencies.

• Trusted brands, especially CARFAX, are deeply embedded in industry workflows and consumer behavior, with high brand recognition and loyalty.

• Network effects and flywheel dynamics: data from service shops and dealers is exchanged for insights and marketing exposure, reinforcing data quality and brand strength.

• Embedded in customer workflows across the vehicle lifecycle, from planning and production to sales, ownership, and resale, creating high switching costs and defensibility.

• Four core strategic assets: proprietary data estate, trusted brands, unmatched customer network, and deep ecosystem integration, all powered by AI.