Is A-Mark Precious Metals, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for A-Mark Precious Metals, Inc. has moved from fair to very expensive. The company is overvalued, as indicated by its high P/E ratio of 515, which significantly exceeds the peer average of 605.276 for comparable companies. Additionally, the EV to EBITDA ratio stands at 15.21, while the Price to Book Value is relatively low at 0.80, suggesting a disparity between market expectations and actual performance.
In comparison to its peers, B. Riley Financial, Inc. has a negative P/E ratio of -0.209, highlighting the challenges faced in the industry. Despite a strong dividend yield of 3.60%, the company's return metrics show a troubling trend, with a 1-year return of -35.55% compared to the S&P 500's 14.08%, and a 3-year return of -0.33% against the S&P 500's impressive 81.19%. This performance reinforces the view that A-Mark Precious Metals, Inc. is currently overvalued.