Regarding the MC/rev ratio for TNT which I calculated as 3.6x
and offered the opinion that this seemed very low,
I have looked through the "software" stocks on ASX to
check if there are any companies with even lower ratios.
The app I am using lists 139 software companies on ASX.
I found eight of them had lower MC/rev values than TNT.
They are CPU, LNK, BVS, HSN, CGL, OTW, RKN, RXP,
so about 6% of the total. There are probably a couple more
with very small MC's that I may have missed. However, it
does appear to be the case that TNT has a unusually low
MC/rev compared to many of its peers on ASX (in software).
Thus, I still think TNT is undervalued at its current SP.
IMO, DYOR
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