Maybe I'm on the wrong track right now. But yes, the stock is also more expensive. Purely from the internal value. The debt remains the same (or becomes more) but the profit becomes less and money is pulled out of the company. Accordingly, the share would still be too expensive at 80€ and the value would have to fall to 50€ to have the same valuation as before. Overall, however, I fully agree with you on your "learning". Never buy on the basis of a single key figure.
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@DividendenWaschbaer The example is of course very simplified. The "expensive" in this case really only refers to the P/E ratio. 😊
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