No PE calculation ever involves cash on the balance sheet (Price /Earnings), and even if it did, it doesn't explain how you got a PE of 14?! You're obviously using FY20 results, or something along those lines, which is a rookie mistake/trap.. Also, need to remember that the company is buying the manufacturing plant in a couple of months, so that will wipe something like NZD$300m off cash. I guess your PE will then be calculated based on net assets rather than cash
No PE calculation ever involves cash on the balance sheet (Price...
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