Very strong result!!!, page-80

PE of around 35 requires a 35% yoy consistent earning growth to justify.
what did a2 achieve in fy18?101%+ earning growth. If a2 can somehow keep this earning growth for the next 5 years, a PE ratio of 100 is fair. That's the Magellan fidelity fund investment theory 20 years ago at a higher interest rate environment. We are now at historic low in Australia and around the world. if A2 trading at PE under 50, it is cheap. Unless we have strong doubt that the earning growth in the next 5 years will miss the 50%+yoy target.