Same thing Dan. PE's are never calculated on revenue.
The last 2 valuations I saw, and one was very recent was about 600-650m. Now that could be upgraded if the reliable daily average is increased and maintained, and that is on the cards that it is now worth some more, but in my opinion, your basis of revenue does not account in any way for profitability. The PE ratio is used as a basis of reliable profits, that is how many years of profit is it worth buying. If it was based on turnover or revenue, but it was unprofitable, then people would be prepared to buy at a small PE of profit, not a huge amount on revenue as a dcapital valuation. Therefore that is perhaps why there is such a divergence between your valuation, and the actual valuers price.
LNC Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
