P/E ratios of cyber security stocks, page-2

Q - What would be the market cap of TNT, as a multiple of the annual revenue,
for this company to be a "fairly valued" ?
(numbers of 4x and 5x have been suggested by recent posters).
I have collected data for some of the established cyber security companies in the USA
(Data comes from "Simply Wall St" app, as reported for 30 June 2020, but note some of
the information on SWS may be out of date).

Company......MC(b)......Revenue(b)......MC/Revenue
FTNT............21.2..............2.35.................9x
CYBR...........4.3................0.45.................9.5x
CHKP...........17.3..............2.03.................8.5x
JNPR............8.6...............4.43.................1.9x
CSCO...........200.3...........50.6.................4x
QLYS............4.7...............0.332...............14x

The averaged multiple is therefore MC/Rev = 7.8x (ave).

Of course, TNT is in its growth phase and does not yet have the MC
of these US companies, but perhaps the ratios above are indicative of the cyber
security industry. Taking TNT's reported annual revenue rate of $43.8m
achieved on 30 June 2020, on this basis its MC would be

$43.8m x 7.8 = $341m, (or 56c for 610m shares)

With the SP currently at ~29c , this simplified valuation suggests TNT is
probably still undervalued, based on its revenue rate at 30 June 2020.
If TNT achieve higher revenues for FY2021, the valuation ought to be
increased yet further.

All IMHO, DYOR