I've attempted to build a profit result for the year ended 31st March, 2022 based upon the recent guidance.
My numbers use the lower end of the sales forecast and I applied 60% as the GP margin when previous years have varied around the mid sixties.
I would expect to pay up to 35 times earnings for such a strong company which is how I reached an acceptable share price of $21.35.
These numbers of course are quite rubbery and the P/E "requirement" of 35 takes no account of the speed at which revenue and supply chain efficiencies will recover over time but I guess it provides a bit of a feel for how the share price has got to where it has after the forecast.
Just some thoughts followed by some scribble.
(20min delay)