Was just wondering if the SGX share is overpriced. As covered in Good Companies vs Good Investments, the SGX is a good company due to its strong balance sheet as well as being the only local bourse, but do these justify its high share price? With the strong financial statements that the company has to offer, with no debt, a ROE in excess of 30% as well as stable profits for the last 5 years. The company has also paid out a stable dividend of 27-28 cents to its shareholders for the past 4 years. But the share seems overpriced for the company as its has a high P/E ratio of over 25. It also has a P/B ratio of almost 10. If we compare the company's returns to Singapore Government bonds over 30-years, the bonds underperform by just 1%, but bear a ......