U.S. Business and Information Services: Taking the first spin with Mobility Global (S&P Global’s Mobility spin-off)

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U.S. Business and Information Services: Taking the first spin with Mobility Global (S&P Global’s Mobility spin-off)

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U.S. Business and Information Services

Taking the first spin with Mobility Global

(S&P Global’s Mobility spin-off)

Industry Overview

Shifting gears into standalone mode 12 May 2026

Mobility Global (formerly known as S&P Global’s Mobility division) hosted its 2026 Equity

investor day ahead of its anticipated spin-off from S&P Global later this summer. United States

Management emphasized the size and durability of the opportunity across the global Business & Information Services

automotive ecosystem, where growing complexity is driving sustained demand for high Curtis Nagle, CFA

quality data and intelligence The transition to a standalone public company is expected Research Analyst

to provide greater strategic focus and capital allocation flexibility to address these BofAS+1 646 855 2939

opportunities. Management outlined a medium term financial framework targeting 7.5- c.nagle@bofa.com

10% organic constant currency revenue growth; ~50bps of annual margin expansion, Wahid Amin

Research Analyst

75%+ FCF returns and disciplined capital deployment including share repurchases (beg. BofAS

In ’27) and a 20-25% dividend payout ratio and tuck-in M&A. A key message was the wahid.amin@bofa.com

strength of its proprietary data estate, with ~90% of revs derived from Ryan Rivera

differentiated/contributory sources and the view that AI, already embedded across the BofAS

platform, represents a monetization and product expansion opportunity rather than a ryan.rivera4@bofa.com

new capability build or potential competitive threat. We maintain our Buy rating on SPGI.

With expanding exposure to workflow solutions and AI monetization, we remain