DD: $HESAY (Hermès) is down to 31x P/E for the first time since 2015. Generational entry point or catching a falling knife?

Planning to start buying into **$HESAY** because my tech-heavy portfolio needs a babysitter that actually makes a profit. If I'm feeling spicy might even buy some LEAPs.

I’ve been holding $RACE (Ferrari) for a few months and watching it slowly go up. Naturally, my smooth brain started looking for other European luxury monopolies to buy into.

Usually, this stock is completely untouchable because euro-snobs price it at astronomical multiples. But thanks to the entire European luxury sector throwing a temper tantrum over Chinese consumer spending, $HESAY actually caught a stray and sold off.

# The Math (For those who can read):

* **10-Year Median P/E:** **\~49.2x** (this thing usually trades at 50x–60x+ when market is horny)
* **Trailing P/E (TTM):** **\~31.3x**
* **Forward P/E (NTM):** **\~26.8x**

The last time $HESAY was sitting at a \~31x trailing P/E was **11 years ago in 2015/2016**. Even during the March 2020 COVID crash and the 2022 rate hike apocalypse, it barely flinched compared to this.

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