Ann: Half Year Results Media Release , page-22

This is cheap, the real key to this company is the cash flow and operating leverage. I'm not surprised at it going above 4 , my initial valuation even when it was at 3 was above 4. On a pe basis looks expensive , but cheap on a ev/ ebitda perspective and a growth company like this should be at least 15 -18.
Unearned revenue makes a chunk of liabilities section which is nice to have . One of the strong balance sheets I have seen.
I don't hold ...good luck all. Will add if there is sell off to have that margin of safety.