Hiap Seng Engineering

[Musicwhiz]

Probably more than 2 years of data are needed.
Graham suggests taking 10 years.
Another possibility is to take either a full cycle of trough to trough or half cycle of trough to peak.
If we look at Rotary, the closest comparable, trough earnings was in 2003 - which looks like about 8 years of data.

Agreed! Mine was just a very cursory observation and back of the envelope calculation, in response to dydx's question.

Don't think I have enough interest in this company's business to undertake a 10-year analysis. Perhaps when I have a lot more time!