What everyone is forgetting when doing P.E's is that in the case of a company with no debt and high net assets you need to discount OFF THE SHARE PRICE the value of the net assets per share BEFORE calculating the p.e. In a2's case the net assets are about 1.1 to 1.2 billion divided by 743 million which is about 1.61 so the pe calculation is 4.68-1.61 =3.07. Now that means that the pe even with reduced earnings is going to be quite low so stop with the overvalued bs and the the call for reratings its horseshit.
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What everyone is forgetting when doing P.E's is that in the case...
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