Added to YB: 2026-06-08
Pitch date: 2026-06-04
SEN.AX [bullish]
Senetas Corporation Limited
Author Info
An Exploration of Microcapland is a full-time microcap investor sharing investment ideas in their newsletter. Sign up for the newsletter.
Company Info
Senetas Corporation Limited, together with its subsidiaries, engages in the development, manufacture, and sale of information technology products which provide network data security solutions to businesses and governments worldwide.
Market Cap
AUD 51.4M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
34.95
P/E
-2.53
EV/Sales
2.73
Sector
Communications Equipment
Category
growth
A Small, Light Boat in a Rising Tide - Senetas Corporation Limited
SEN.AX: Australian network encryption microcap (AUD 3.13, EV AUD 34.5M ex-Menlo stake worth AUD 19.5M). 85% gross margins, high op leverage. Divested Votiro, did 100:1 resplit, returning capital. Tailwinds: post-quantum crypto mandates, AUKUS, Thales/Nokia partnerships. Weak H1 from export delay/Thales restocking; H2 core earnings >AUD 3M, <6x op income/EV pre-inflection. Brazil, Japan, Malaysia, Korea PoCs eye 2027 revenue. Asymmetric.
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