Yes can’t compare apples with pears but you can even if you think apples are the greatest fruit ever but their price can’t be justified anymore so you switch to pears. Ok that was a pretty awful analogy
Just to note a comparison of caps, nab reported a profit of $4.7B, its market cap according to commsec sits at $80B. P/E without adjusting for franking credits 17
FMG assuming price realisation of USD 52, a discount of 20% from USD 65 at AUD of 0.715 gives profit in the range of USD 1.9B or A2.65B
Market cap of A29B
Now I should add that those estimates are assuming a lot goes against FMG. Ie the AUD increases, the index price falls considerably and discounts expand even though the product mix in the next year or two will become more premium...Also franking credits have been disregarded
(20min delay)