Another impressive set of results from PWR. This is one of those companies I hold that I can never fully justify the current share price but it has always been like this and probably always will while they continue to perform like they do. If you want to get a good insight into how they are successful, I think the PWR DNA (see here) is a great place to start. The organisation is incredibly well run and I love their attitude / culture as described in the DNA.
As for valuation - I have resigned myself to the fact they are a well run and incredibly successful business that has a great future and I should ignore the current valuation and just hold hold hold until I sense anything different. Nothing in their current results has me thinking we are anywhere close. I was concerned that the push into Defence / Aerospace was going to be more hype than anything real but even that is going well.
Am keen to hear how other Strawpeoples feel about this one but I aint selling mine.