should be at a 10 p/e, page-2

Roger Montgomery and his team disagrees with you and he is a value investor. GEM has been buying centres at 4 x EBIT ( apart from the latest Sterling acquisition at about 5.8X )
hence there is a market rerating when listing on the sharemarket as 4 x is much cheaper than company valuations on sharemarkets. they are growing and growing by acquisitions but still maintaining a healthy balance sheet ie don't have much debt. also there is enormous & growing demand for childcare places as more and more mothers have to work these days. many people are having to put their children on multiple waiting lists to try to get a place somewhere.
have a read of this
http://rogermontgomery.com/is-g8-education-worth-more-than-5-per-share/