Ann: FY2024 Results Presentation, page-73

Hi I just invested in JLG and would like to tip in a bit more. But for the life of me I can't work out why the share price has fallen more than 30%?
So they have business as usual (BAU) and CAT which is probably short for revenue from catastrophes such floods, fire etc
BAU makes up 80% of the company's revenue and CAT varies according to natures whim, but usually makes up the other 20%
so you get this slide in the presentation


It shows that BAU has grown 9.7%
ROE = $0.19/ $1.62 = 12% (maybe not great, but ok)
what about value - cheap or expensive?
before the big crash the PE for '24 was about 31.9
the average PE = 31
now the PE = $3.81/.19 = 20
Probably cheap..
So why has the share price been smashed.
was it way overvalued and has it always been? is what we are seeing here the company being revalued and put on a more reasonable PE?
And what might that PE be? Say 15
15 x $0.19 = $2.85
any help would be greatly appreciated...