S&P Global (SPGI) Stock Looks Fully Priced Despite Strong Excess Returns

S&P Global has delivered a 41.5% share price gain over the past 3 years, which puts a spotlight on whether the current US$450.65 level is properly supported by the returns the business earns on its capital. With the stock still down 12.1% year to date and 3.2% over the past year, investors are asking how that mixed share price record lines up with the profitability of the company’s data and analytics franchise. The 41.5% return over 3 years places real weight on the question of whether S&P...