You listen to BB today? Is reasonably available, reasonably priced financing required for PCP's customer's success? Who invests in those commercial airplane leases? Is liquidity still available to fund that company ... used to be in the UK ... can't remember name, but it was key for BA's commercial biz.
What's a global recession due to PCP, other than make it a better buy?
PE is relative to the growth rate. A company with a 10% growth rate in this environment will only get a 9-15% PE...but a company with a 25% growth rate should command a 20-35% PE...(max PE is usually 1.5 times the growth rate). This is how a fast growing compnay can have its stock price appreciate so rapidly (see momentum stocks like ISRG)..or GO DOWN very rapidly (when growth slows or stops like VDSI).
PCP is growing close to 25%, trading at an 18 PE...cheap on valuation. Demand is constant, and they keep delivering. This stock will go back to its highs soon after the market works its way through all this muck (which could be most of the year). As a 12-18 month investment...I believe this is a strong stock.