Ann: Trading Update, page-7

the extreme jump in retail spending has not caused an extreme rise in NCK share price.
it is still trading on a current PE ( 2020 earnings ) of 11 with a fully franked yield of 5.4%.
data over the past 10 years shows NCK trading at PE between 11 - 15, with consistent growths in sales,
earnings and dividends.
lowest ROE has been 33%, highest 52%, during normal years where there was no COVID related jumps
in retail spending. absolutely outstanding ROE figures, despite virtually zero debt most years.
the shareprice fall in March put NCK briefly on a 2020 PE ratio of 4 !
which was completely absurd for such a well run longstanding business. so even though the shareprice
has more than doubled since March, it is not anywhere near extreme levels, being at PE ratio in lower end
of it's range, unlike plenty of other stocks trading on PEs of 40, 50 or 100.
still kicking myself for not buying in March.