S&P Global Inc. (SPGI) Goldman Sachs 2025 U.S. Financial Services Conference December 9, 2025 12:20 PM EST

Company Participants

Martina Cheung - President, CEO & Director

Conference Call Participants

Keen Fai Tong - Goldman Sachs Group, Inc., Research Division

Presentation

Keen Fai Tong Goldman Sachs Group, Inc., Research Division

Okay. Good afternoon, and welcome. I’m really pleased to be joined by Martina Cheung, CEO of S&P. Martina, thank you for being here with us today.

Martina Cheung President, CEO & Director

Thanks, George.

Question-and-Answer Session

Keen Fai Tong Goldman Sachs Group, Inc., Research Division

Okay. So at your recent Investor Day, you provided updated medium-term organic revenue growth targets of 7% to 9% and 50 to 75 bps of margin expansion per year. Can you talk about some of the top drivers underpinning your confidence in achieving these targets and what risks could challenge them?

Martina Cheung President, CEO & Director

Well, thanks. It’s great to be here. I would say we were thrilled to get out at Investor Day with our medium-term guidance shaped around our strategy of advancing essential intelligence. And for us, this is really core to what we do. We know from our clients that their need for additional insights and more data is growing just annually.

And so our overarching theme here is keeping pace and getting ahead with our customers, strengthening our position in our existing areas of market leadership, but also looking at areas where we can grow in high-growth adjacencies, and we talked quite a bit about private markets and energy expansion, but also other areas like wealth and decentralized finance and supply chain where we feel we have additional growth opportunities at little incremental investment.

And then finally, by amplifying our enterprise capabilities that we’re doing things once across the organization, and we’re

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