I was looking at Alibaba Group Holding Ltd ADR (BABA)'s P/E ratio of 28.55 from Morningstar.
While looking at its financials, Morningstar says that its diluted EPS TTM is 26.41.
But its stock price according to Morningstar is 155.46. Considering P/E = Price/EPS, I would expect the P/E to be around 5.89. In fact, it should be a bit lower than 5.89 because I used the diluted EPS instead of the EPS.
How does Morningstar calculate the P/E ratio to be 28.55?
Is this a mistake or is it something to do with it being an ADR? I just don't get it.