S&P Global is mostly known for the S&P 500 and Dow Jones indexes, but that actually only makes up 12% of their revenue. About a third comes from providing market data to brokers and funds, and another third is from stock and bond ratings. The rest is mostly energy consulting and auto research. They have a wide moat because reputation matters in these data markets and customers rarely switch providers. Last year their revenue grew 8% and EPS was up 14%, marking their 12th straight year of revenue growth. The stock is down 20% since February due to weak 2026 profit guidance. Most analysts still rate it a strong buy with an average price target of $533.95, implying about 25% upside from current levels.