Is AleAnna, Inc. overvalued or undervalued?

As of 31 March 2025, the valuation grade for AleAnna, Inc. has moved from does not qualify to risky, indicating a significant downgrade in its investment appeal. The company appears to be overvalued based on its current metrics, particularly with a P/E ratio of -75.19 and an EV/EBITDA of -42.86, which are substantially worse than typical industry standards.
In comparison to its peers, AleAnna's valuation ratios suggest it is not performing well; for instance, its P/E ratio is significantly negative, while the industry average remains undisclosed. The recent stock performance further underscores this valuation concern, as AleAnna's year-to-date return of -37.3% starkly contrasts with the S&P 500's positive return of 12.22% during the same period.