PME
Written slightly tongue in cheek.
Fantastic business, no doubt about it. Just a touch expensive, perhaps, at triple digit forward earnings, and a modest ~50x forward sales.
Sales estimates appear modest.
In our view, it is very possible to overpay for future earnings, and this is about as good an example as you will get of the following concept “a fantastic company need not be a fantastic investment”.
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This document is based on information available at the time of publishing, information which we believe is correct and any opinions, conclusions or forecasts are reasonably held or made as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. To the extent permitted by law, neither Aequitas nor any of its affiliates accept liability to any person for loss or damage arising from the use of the information herein.
Please note that past performance is not a reliable indicator of future performance.
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