S&P Global initiates strategic review of Capital IQ and data businesses

S&P Global has launched a strategic review of its Capital IQ and associated data businesses, exploring alternatives that may include a potential separation of these units. The review focuses on the data and analytics offerings within the Kensho Data & Platforms division of Market Intelligence. While the company expects to retain products such as RatingsDirect, RatingsXpress, and Enterprise Solutions, the exact perimeter of the review remains under evaluation.

The announcement coincided with third-quarter 2026 financial results, which exceeded market expectations. The company reported a 7% year-on-year revenue increase to approximately $3.68 billion, with adjusted earnings per share rising 9% to $4.58. Following these results, S&P Global raised its full-year 2026 guidance for both revenue and adjusted earnings.

Management indicated that a separate ownership structure for the data businesses could facilitate more targeted investment, accelerate innovation, and drive growth. However, the company noted there is no specific timeframe for the review and no assurance that a transaction or particular outcome will result from the process.