Quick Value #321 - Mobility Global (MBGL)

Recent spin-off from SPGI looks cheap

Today’s post:

• Recent spin-off of automotive data from S&P Global (SPGI)

• Potential high quality business suffering from technical spin-off selling

• Shares trading at ~12x 2026 EPS estimates and ~10x EBITDA with low leverage

For new subscribers — these write-ups are meant to be a “jumping off point” for the idea generation process (i.e. a surface level review). Each write-up includes: (1) company background; (2) why the idea is interesting; and (3) fair value estimate.

Check out past write-ups here and my home base page here.

Recent write-ups include:

• 06/29/26 — Somnigroup’s vertical integration acquisition spree

• 06/23/26 — Guide to GoodCo / BadCo situations (a look at Tripadvisor) ($)

• 06/15/26 — Campbell’s is another beaten down staple

• 06/08/26 — Updated look at upcoming Middleby spin-off ($)

• 06/01/26 — All-stock cabinet merger MasterBrand

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Quick Value

Mobility Global (MBGL)

$MBGL chart

• Ticker: MBGL

• Price: $19

• Shares: 295m

• Market cap: $5.6bn

• Valuation: 10x 2026 EBITDA ($750m)

• Theme: spin-off

This one wasn’t really on my radar until the spin came and went. A friend asked me to take a look saying it was cheap.

Surely this couldn’t be true with S&P Global (SPGI) trading >20x earnings?

Let’s find out…