Them the breaks. We all live and learn.
At its peak it reached $28.5 or so. We may not see that again for another 10+ years.
How so?
Say FY22 is 50cps. If the business does really well* and grows earnings at 10% cagr for a decade, they will reach 142cps by FY33!
20 x 142cps = $28.4
Valuation is king. Tune out to all the unnecessary noise.
*Note - they grew earnings at less than 10% cagr over the past decade in the monopoly they created in Australia. So good luck growing faster than that in the mature US market. It may take much longer than a decade to get above $28 again.
Ann: HY22 Investor Presentation, page-71
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