I had based my eps on aus dollars which always catches me out....

I had based my eps on aus dollars which always catches me out. Normalised EPS from this mornings report which is 42.45c if you use todays closing price of 33.92 or 24.36 USD this gives a P/E of 57.38. If you use actual P/E its 103.2. I like to use forward P/E anyway, if we assume 10% growth in revenue for FY21 this will take the revenue to approx $196m in FY 2021, at an EBITDA margin of 40% this is EBITDA of $78.6m assume 88% fall through to NPAT gives about $70m or EPS of of 53c or a forward P/E of 45.96. Either way you cut it, these metrics are very expensive for growth of 10% even in the best times, and we are not in the best of times. Caution is warranted. i would much prefer to buy altium under P/E of 40 or under $30 long term. I would buy appen first, its also my biggest holding and one of the few Aussie tech stocks not overvalued based on growth. this is back of envelope so if anything looks wrong let me know.