Grange's Iron ore pellets at A$427/tonne, page-131

So who cares what the P/E was in the past, we're now in a period of history where iron ore pellets reign supreme and will continue into the future as China and other countries tackle pollution.

I doubt anyone cares what the P/E was in the past , it can only apply to the present based on previous earnings and today's shareprice and be recalculated after the half and full year reports come in ..

lts purely an indicator and like most indicators its a reference point that some use as a marker for under or over valuation, in the end its a companies profit/ loss that drives the shareprice and you dont have to be a "rocket " scientist to figure out that this FY,s profit is going to be higher than the previous one..

Cheers Whisky