WiseTech Global is priced like a growth stock, on a price-to-earnings ratio of 97 times. It invests like a growth stock, ploughing $83 million into R&D during the December half - almost double its underlying net profit for the period of $43.6 million.

And it talks like a growth stock, persisting in referring to chief executive-founder Richard White as the “chief operating decision maker” in its accounts.