Plucking a PE number from your "company research" screen on your Comsec account (which is what I presume you've done) is a very naive way to inform yourself on investment decisions. The number there is never correct. As an exercise to prove this: can you work out the Price / NPAT?
I'm guessing the NPAT will be around $25 million for 2016/2017 resulting in a Price / NPAT ratio of around 30, though it could be higher or lower depending on too many accounting variables (depreciation, amortisation, etc) which are more related to tax treatment. What is more relevant is how much cash does this company make.
The relevant metric to use is Enterprise Value / EBITDA. This is capital structure neutral and considers how much cash the company makes, which is ultimately why investors invest.
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