The spooky thing with ATM and FPH was their confirmed long term downtrends both started in the same month...August 2020. Coincidence or has this something to do with their stretched metrics not stacking up as long term interest rates started to rise ? You folks be the judge.
To be fair, there's no question FPH is a great company. Stripping out the huge tailwinds of Covid and looking back the last five years eps grew from 20.4 cps in 2015 to 50 cps in March 2020 that's a very impressive CAGR of 20% per annum over that 5 year period. Extrapolating that forward suggests that by FY22 they should be earning 72 cps and interestingly, albeit supported by strong Covid tailwinds, analysts are projecting almost exactly that at 71 cps. So that's a 7 year track record of average eps growth of 20% per annum, deeply impressive, no question....but then the wheels are projected to fall off the growth with average analyst forecasts of just 67 cps for FY23 and 78 cps for FY24. https://www.marketscreener.com/quote...30/financials/
A highly innovative company with a deeply impressive track record of strong growth but in a confirmed downtrend since August 2020 and on a FY23 PE of 43 in a strongly rising interest and inflation environment. Priced for perfection...you folks be the judge.
For mine, I'd be interested if the downtrend continues down into the very low $20 range. GLTAH.