Ann: Preliminary Final Report, page-15

I'd suggest caution in trying to estimate the actual earnings/profit
at the moment (after TNT become cash flow positive in June).
The % change could be quite large on a month to month basis
as the earnings climb from the baseline. Maybe we need to wait
until the Q1 report for FY21 to get a more reliable estimate of earnings
which would be averaged over July/Aug/Sept. I suggest making a
approximate valuation for TNT still based on revenue, at least until
we get reliable earnings figures.

For $80M+ revenue, I calculated a "fair-value" SP of 60c or 93c,
depending on the (MC/rev) multiple assumed (see post 26/8/20).

All IMHO, DYOR