Pro Medicus (PME) released their FY22 results today. From their release:

• Revenue from ordinary activities $93.5m – up 37.7%
• Underlying profit before tax $62.4m – up 46.8%
• Net profit $44.4m – up 44.1%
• Cash and other financial assets $90.6m – up $28.8m
• Company remains debt-free
• Fully-franked final dividend 12c per share

Another fantastic result from Pro Medicus with NPAT up 44%. Hard to believe that this company has yet reached $100m in revenue even though it is trading at a valuation of over $5.5b. IMO this is one of the highest quality companies on the ASX and their results speak for themselves.

Net margins expanded once again and the company is continually signing up new customers especially in the US. At sub $100m of revenue there is still a very long runway for growth. However shares are basically pricing in perfection at this point. Close to 60x sales and 120x PE makes it very hard for me to buy at the current share price.

Will update my valuation accordingly later.

Disc: Held IRL and on Strawman.