I might be wrong but I can't get my head around why A2 is considered expensive with a forward pe of early 30s?
A2 should be in the realm of WTC, APT, APX, ALU given the size of their market opportunity, stability of the business, degree of innovation, first-mover adv. And given it's consumable product A2 are selling, it can be compared in reliability of cash-flows to the subscription model of a tech firm.
I think the reason is the DCF models are employing a tepid growth rate beyond this year and next. Why is this? They still ONLY have 5-6% market share of China, haven't scratched the surface in south east asia or the US, middle east, south america and Europe for that matter. On top of this, China is again trying to encourage parents to make babies, something they're very good at doing!!
Can anyone explain to me why I'm wrong?
I might be wrong but I can't get my head around why A2 is...
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