CME Group Inc (CME) is slightly overvalued and S&P Global Inc (SPGI) is slightly overvalued.
Both trade above our estimate of their intrinsic value. CME is the closer of the two: -15%, against -18% for SPGI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.3% (average of 3 methods) values the shares at $232.06; the price of $267.21 is 15% above that value, and 82% of that value comes from beyond year five.
Leak Score 61/100 on 8 of 12 signals
Discounting its cash flows at 9.8% (average of 3 methods) values the shares at $340.56; the price of $402.44 is 18% above that value, and 74% of that value comes from beyond year five.
Leak Score 51/100 on 9 of 12 signals
| Metric | CME | SPGI |
|---|---|---|
| Verdict | Slightly overvalued | Slightly overvalued |
| Price | $267.21 | $402.44 |
| Intrinsic value | $232.06 | $340.56 |
| Margin of safety | -15% | -18% |
| Leak Score | 61/100 (8/12) | 51/100 (9/12) |
| Market cap | $96.1B | $118.6B |
| Revenue growth, 5 years | 6.0% | 15.6% |
| Operating margin | 65.1% | 44.6% |
| Net margin | 63.1% | 30.5% |
| Return on equity | 15.8% | 15.2% |
| Debt to equity | 0.15 | 0.50 |
| P/E | 22.7x | 24.5x |
| Forward P/E | 20.7x | 19.9x |
| P/B | 3.6x | 3.8x |
| Dividend yield | 4.3% | 1.0% |