1-3 times p/e? Where did you get that figure from?
"According to Commsec, the long-term trend for the P/E ratio of the ASX 200 is around 15x. So generally speaking, an ASX 200 stock that trades below the 15x multiple could be considered cheap over the long run" - https://unauthorised investment advice/experts/pr...r-shouldnt-use-it-to-find-undervalued-stocks/
And for growth stocks, the number can be 25-30x
So, what is a good PE ratio for a stock? A “good” P/E ratio isn’t necessarily a high ratio or a low ratio on its own.
The market average P/E ratio currently ranges from 20-25, so a higher PE above that could be considered bad, while a lower PE ratio could be considered better - https://www.investmentzen.com/blog/what-is-a-good-pe-ratio-for-a-stock
The P/E ratio is calculated by dividing the stock's current price by its latest earnings per share. A high P/E ratio suggests that investors see it as a growth stock. It may also mean that the stock is overvalued. The average P/E of S&P 500 Index stocks is 25. - https://www.investopedia.com/invest...:text=The P/E ratio is,500 Index stocks is 25.
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