TNT Chart, page-1412

Regarding TNT's valuation, a quick reminder that cyber security stocks are reported
to be trading with an EV/Sales average of 5.5x (as at May 2020)
<https://ma-review.com/cyber-security-an-insight-into-the-sector/>.
(marclegit post 48007136).

At the close of trading yesterday, our ratio was EV/Sales = 3.0x , so we are still
below the market average.

I agree with Hamish and others that TNT's SP may run further.

At this stage, I don't believe comparing PE ratios will give a reliable valuation, simply because
TNT has only just transitioned to cash flow positive at the end of FY20. We need a few quarters of PE
numbers to see how it is evolving. But I am re-assured that TNT management are very focussed
on the EBITDA and margins, and how these can be grown (see JC's IRD presentation).

All IMHO, DYOR