news re future prospects, page-2

re: where are the future prospects I've been looking at WES and make the following observations .

1) The stock is trading on about 18 times earnings , which is about exactly where it was this time last year

2) Operational Earning for 2005 were up a bit on 2004
- although earnings were up a bit, but nothing startling .

3) The Gross margin at the EBITA level on all divisions is only around 10 % . ( energy is higher , but will rely on almost full capacity output )

4) The hardware division makes up about 50 % of their sales - but growth seems to be stalling .

5) Net assets are around 3 billion or about $8.00 per share

Question ? Doesn't the current market cap of 13 Billion look a bit high ? -- thats 10 billion worth of good will ?

I reckon this stock could pull back to mid $20's