I am a huge fan of PME and have done exceedingly well on my investment.
That said I still struggle to see how on earth the SP has hit current levels and shows no sign of falling back.
2024 saw total revenues of $161.5 million and a profit before tax of $116.5 million yet the market values the company at $15,367 million - this is extraordinary......
I know that revenues seem to increase by very healthy amounts each year and the gross margin is amazing but the P/E remains stratospheric.
The SP was around $90 in December and the 2024 results would show a P/E of around 110 at that price.
I sold a few this week at $150 - again mainly as PME was become too large a % of my SMSF portfolio....
PME Price at posting:
$150.70 Sentiment: Hold Disclosure: Held
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