mhm america figures, page-37

if you don't apply a PE premium to a growth company firsova, I suggest you avoid growth stocks because you're never going to have your bids filled (the market prices them differently to you)

to apply a (very) conservative industrial PE which represents a stagnant revenue stream to a company which can roll out multiple plants is ridiculous

again you bring out the IP protection issue and seem to think it is easy for others to replicate the process

many many companies avoid patents because they see the best path to IP protection as keeping technology in house rather than published, not going into that again, discussion has been done to death, suffice to say you keep throwing out the same red herrings