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Mobility Global looks like the typical spinoff most holders dump, not a desirable one like Honeywell Aviation. With Carfax about two-thirds of revenue, it is essentially Carfax, which seems unlikely to remain stand-alone; Equifax, TransUnion or others might eventually acquire it. A reply notes much of Carfax's value comes from public data, with dealers and shops reluctant to share proprietary data. No final decision to sell has been made yet. x.com x.comÂ
S&P Global's two core businesses are growing nicely, and buying back roughly 5% of its shares at this valuation should create value over time. Excluding Mobility, Q2 revenue rose 11% and EPS 26%. Guidance came in a few pennies below consensus, but the report is hard to dislike. x.comÂ
Fair Isaac is terminally a sub-20 P/E business now that its mortgage monopoly faces a price war. Per @qualityequities, regulators cleared the cheaper VantageScore for mortgages, and the credit bureaus are aggressively discounting it to take share, undercutting the pricing power investors valued FICO for. x.comÂ
Mobility Global is an undervalued, high-quality spin-off from S&P Global that few investors know about. It has 82% recurring revenue and a 43% EBITDA margin, and it is growing 8%. x.comÂ
S&P Global's July 1 spin-off of Mobility Global refocuses it on its high-margin ratings and indices businesses, removing a conglomerate discount. Its ratings duopoly with Moody's and S&P 500 licensing fees collect tolls on capital markets as passive assets grow and AI and energy buildouts drive a debt issuance boom. Per JPMorgan and other banks, LLMs need proprietary data like its Market Intelligence and Platts benchmarks, reversing AI fears. Q1 operating margin rose 100 bps to 51.8%. x.comÂ
