Livewire article on ZEN, page-43

This is being hideously neglected by the market now.

Even if you take an NPAT of 87m for last FY and assume very low growth using a PE of 10 (which is insulting with the kinda of EPS growth this thing has seen over time) then that gives you $1 to $1.1 a share.

Now factor in the most recent NTA per share is around 44c and realistically this should be 1.5+

You are basically buying this business at only 2x book, which for a growth service company is insanely good buying. I bought a few more yesterday on that fundamental risk to reward asymmetry