S&P Global: Mobility Global Investor Day; Fox-trotting into the Spin

研报英文原文证据摘录

S&P Global: Mobility Global Investor Day; Fox-trotting into the Spin

Deutsche Bank

Research

Rating Company Date

Buy S&P Global 13 May 2026

Company Update

North America

United States

Reuters Bloomberg Exchange Ticker Price at 12 May 2026 (USD) 424.17

SPGI.N SPGI US NYS SPGI

Price Target 566.00

Industrials

564.15 -

Business & Industrial Services 52-week range 390.76

Mobility Global Investor Day; Fox-

Valuation & Risks trotting into the Spin

Faiza Alwy

Key Takeaways from Mobility Global Investor Day Research Analyst

Mobility Global hosted its investor day in New York today, where it showcased its +1-212-250-7611

products, reaffirmed its FY26 revenue outlook (7.5–9.0%), and provided medium-

Avi Sharma

term targets, which were slightly above our expectations at the high-end. The Research Associate

company is targeting 7.5-10% annual organic revenue growth over the medium- +1-212-250-7226

term, comprising 5-7% from the core business, 1-2% from new solutions, and 1-2%

Sophie Sheng

from international expansion. The company plans to expand margins by 50 bps/

Research Associate

year post standalone reset, implying EBITDA growth of 8-11% annually. In terms of

+1-212-250-9954

capital allocation, the company plans to return 75%+ of FCF annually via dividends

(20-25% payout ratio) and repurchases (starting in 2027). The company targets a

gross leverage ratio of <2.5x.

The product demos and conversation with the team reinforced our view that

Mobility is a durable business with a solid data moat and several growth drivers that

should sustain its +HSD growth profile. The largely subscription-based business

has proven its resilience with growth rates that are above market across industry

cycles, and relatively high margins (40.6% EBITDA margins in FY25).