Yes its net profit of 425 mil estimated for FY 21 giving it a forward PE around 44...
But its all due to covid ...at present they themselves very conservative in saying it wont last ...Resmed RMD said in its last results guidance that super fast growth will taper off soon ...
It doesn't seem so at the moment ...maybe we will get into a period of consolidation in which share price will move sideways with mild downward bias ...but when it will happen depends upon covid control etc .
Though its a great company with excellent track record and management . Best quality on offer ...Most owned institutional stock of NZ ...hardly any retail holders so ATM type shaking of tree here doesn't work ...most institutions do their own research and hold till they get positive data ...not get scared into selling it ..lol
What are your price expectations after this Nov results ...I think 40 + easily possible if they upgrade yearly guidance
From Nz stats data around 60% increase in respiratory equipment exports from last year ending sept 2020 ...they have a big factory in Mexico also ...so not sure that will be seperate additions ?
August middle they upgraded their june guidance ...at that time they assumed covid will be under some control by year end ...which does not seems to be happening
Will be happy to know your thoughts as you have deep knowledge of this company