Hard to fault the record result from ProMedicus.

As usual, every post a winner.

Still, even if you assume $100m in FY NPAT (half year NPAT was $36m), the PE is above 100. Of course, I thought the valuation was stretched at lower prices, so what do I know, and I genuinely think this is one of the best companies on the ASX. Maybe even THE best.

But maybe the market did get a little ahead of itself, in my opinion. Or not; I've said that before and it's been the biggest opportunity cost of my career. I mean, I did extremely well on it, but even after today's pull back, it would have been a 112x bagger on my original 2014 purchase..*sigh*

Anyway, companies like PME are why I love Small Cap investing. One or two home runs can make a huge difference.

Question is, what's the next PME that the market has yet to discover...