How to value CCP

For the last 3 or 4 years I've been a holder of CCP and have done very nicely out of this investment to date but I always felt she was undervalued.

Obviously there's been a very nice uptrend in the share price in the last couple of months culminating in the massive jump a few days ago, but is there further to run?

Until recently the market appeared to value CCP as a low growth financial like a bank with a PE multiple around 12 ( I know this is a crude measure of valuing a company. ) but I don't think this was fair and I wonder now if the market has now caught on.

Sometimes companies in normally boring sectors, like manufacturing, can do so well over a sustained period that their valuation far exceeds the rest of the sector. The classic example of that springs to mind is ARB Corp whose valuation is around 28 times expected earnings.

For several years CCP has grown at double digit pace and many are expecting them to smash the already strong forecasts for the year ahead. There is already strong earnings momentum and this appears likely to continue at least for the next couple of years, now with that in mind, maybe we're about to see the multiple assigned to CCP at a premium to both the market and its peers.