Mates tell their mates when they're plain wrong. It really is this simple. The 10 year average PE is 11. At $575m before tax = 37 cps after tax. 11 x 37 = $4.07. Of course if they make more than $575m before tax then based on the decade average PE they're worth more. Just because a share has been cheap in the past doesn't necessarily mean it will revert to being a bargain anytime soon. If I thought they were overpriced I would be selling. I am continuing to hold all of my shares and have done for quite some time now and it continues to be my #1 market position by value.