Valuations are fair.
Price to cashflow is through the proverbial roof therefore 150+ p/e is justified + 20% premium.
You won't see P/E trading below price to cashflow very often.
Question now is costs and competition and whether the price to cashflow is sustainable.
Taking profit here makes 100% sense. If PME records 130 price to cashflow for the FY then 150 p/e is justified even 170 p/e
Ann: Company Announcement - Interim Results, page-42
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Last
$117.48 |
Change
-3.750(3.09%) |
Mkt cap ! $12.26B | |||
| Open | High | Low | Value | Volume |
| $121.56 | $122.51 | $117.36 | $23.41M | 196.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 294 | $117.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $117.63 | 47 | 1 |
View Market Depth
| Last trade - 16.10pm 04/06/2024 (20 minute delay) ? |
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Last
$117.36 |
Change
-3.750 ( 3.43 %) |
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| Open | High | Low | Volume | ||
| $121.78 | $122.51 | $117.36 | 18727 | ||
| Last updated 15.59pm 04/06/2024 ? | |||||
| PME (ASX) Chart |