Ann: REA Group Investor and Analyst Presentation FY24, page-31

Hmm, I just find it interesting the valuations of these cos, I am invested in a couple of coal cos and they aren't that high of a multiple to their earnings, for example NHC and WHC are both capable of earning 1b npat + on a good year, and a few hundred mil on an alright year, same with YAL, all are trading at under a PE of 10. Or a small IO miner like FEX, also valued really cheaply.

This sector just seems to be valued differently to the resources, perhaps it's to do with the security of supply and pricing, one house gets sold another gets listed, the same would also go for a stock like CAR, a car gets sold another gets listed.. Does not get effected by a commodity price, but it does by economic downturns, corrections and bear markets, but REA and CAR both go higher when the market recovers, cannot say the same for DHG, but DHG does not have a long market history.

With that aside this is a brilliant business and they absolutely dominate the real estate market, if there is a property for sale, you will find it on REA, very rarely you don't.

If I were to invest in REA, it would definitely not be for the divy I am too late for that, but for the secure consistent SP growth.