Something like 60% of enterprise IT projects are considered failures, too.
If you don't write tests, then you're throwing away your investment. It's that simple. Telling me that the code works today tells me nothing about how much value the code will add to the business in the next year.
Sooner or later, you won't be able to predict whether a 'small' task will take 3 weeks or 3 years. Even if you don't change the software, some integer overflow might abruptly halt everything. ("It's the primary key for everything? And we don't have tests? Oh...")
Anyone can write code, but it's usually high-risk code with lots of hidden costs. The value that career software developers bring to the table is the ability to manage the software development process so that it's more-or-less sustainable, i.e. keeping costs visible and managing risk so that the resulting software retains its value over time.
If your publicly-traded company depends heavily on software that isn't properly tested, then ethically this should be listed as a risk factor in your 10-K forms. Sooner or later, shareholders are going to figure this out and start holding these enterprises' management accountable.