Hopefully if they ever need to do an RS, the ratio will be low as a result of buy backs like you said. The other piece, which Dadon was thinking of when he said in this case it would be good, is that as long as sales and growth rate are kicking ass, the upward trend will continue and actually increase as the share structure and earnings/share only look that much more attractive to investors. Demand for the stock can actually have the PPS well above "fair" valuation as investors are also looking at the value of the brand and the growth potential which can go on for an extended period of time as the brand goes global.