Below is an Asx listed peers table for TSN.
As you can see, only 2 are profitable, one of those being TSN which is trading on nearly half the earnings multiple of the other profitable company, (Sen) Senetas.
As you can also see, many companies are unprofitable but have signinfcantly higher market caps.
This shows a very exciting picture imo, especially when you look at this and consider that:
1. This valuation is really only looking at the cyber part of the business; and
2. We also own 25% of TSI which is becoming more valuable by the day (especially since they changed the interchange fees last week)
I have left these shares in the bottom draw for the past couple of years but I reckon the time to dust them off and give them pride of place on the mantlepiece is not far away!
Good luck to all.