So, you want to know why Page is so highly (richly) valued? The more I research various other stocks/sectors for investment the more I get to understand Page :-).
There are companies which have super ROCE, good FCF, tempting dividend yield, low capex, ethical management, durable moat BUT they lack REVENUE GROWTH. They strive very hard for a 15-20% growth. Some through inorganic route, some through organic.
Page has all the above and a superior sales growth (even during the times of low economic activity) - what a combination to have?! Page does NOT age!
Disclosure: I hold page as indicated in my portfolio.