EBI was quoting the AFR article which assumed the doubling of...

EB
I was quoting the AFR article which assumed the doubling of profits makes for a forward PE of 40. I'm not disputing your assumptions but I did start my post with the words "For those who've not read the article" suggesting, that what follows is a summary of the article.
Direct from the article (all typos are myne) );-
Anthony Radford declined to give specifics on profit but said " you can see we've been doubling our sales every year" later in the article AFR writes "Even assuming profits double next year, the stock is still trading on a forward PE of about 40"
I want the PE to be where you suggest, heck I've got the same shares I bought in the nineties riding on it, I look forward to your predictions being proven correct. Then maybe AFR will run a follow up,,,,, saying something like "we first alerted readers to this stock back in our February edition when it was trading at the now bargain price of $1.50...... how things have changed and we still think there is more upside at $4.15......... Dreaming. (maybe I can write their tipsheet copy for them LOL)
In any event the issue of profits V revenue/sales & the trend for cash Uber Alles is covered very well by others in this thread and very little to add on my part.
FWIW we see this test more and more from the GP community and in my state we have one lab that performs all the testing for the gov't hospitals/pathology services and they report a rough doubling of workload year on year.