First, it's great for investors to have an idea of what «
multiple range» a company has traded at in the past — there's a lot of value to this, and most relevant for
cyclical firms (mainly industrials) that may, from a fundamental standpoint, exhibit similar (but not identical)
patterns with respect to both earnings and their PE through the course of each economy cycle: think Boeing (BA) and the commercial aerospace cycle; Ford (F) and consumer demand for auto sales; or United Continental (UAL) with respect to premium air travel demand.
Despite their considerable differences, the atmospheres of Earth, Jupiter, and Saturn all display a remarkably similar phenomenon in their equatorial regions: vertical,
cyclical, downwards - moving
patterns of alternating temperatures and wind systems that repeat over a period of
multiple years.