PVL process

Not sure how their process identified PER , but there you go

"Over its 5 + year track record, the PVL fund has developed a successful process and investment strategy to identify significantly undervalued microcap equities on the ASX. ⎻ Through a tested screening system and extensive broker and information network, the team identifies and works through an investible universe of over 500 companies to find undervalued opportunities. ⎻ The team undertake due diligence of shortlisted companies and extensive financial modelling to ascertain the quality of earnings, strength of the balance sheet and identify important financial distinctions that the team believes the market will appreciate, avoiding value traps. ⎻ Once the opportunities join the stable, the team remain actively engaged in helping and providing strategic, financial and capital markets advice to investee company management. The manager actively seeks to introduce them to merger opportunities, potential capital raising partners, and complimentary opportunities that may assist them to grow faster."