Is Allego NV overvalued or undervalued?

As of 17 June 2022, Allego NV's valuation grade has moved from does not qualify to risky, indicating a significant deterioration in its financial standing. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of -0.57 and an EV to EBITDA ratio of -27.05. Additionally, the Return on Capital Employed (ROCE) stands at -18.64%, further highlighting the company's struggles.
In comparison to its peers, Allego NV's valuation metrics are concerning. For instance, MarineMax, Inc. holds an attractive P/E ratio of 21.85, while Monro, Inc. has a risky P/E of 24.35, both of which starkly contrast with Allego's negative ratios. The company's recent performance has also been poor, with a year-to-date return of -58.01%, significantly underperforming the S&P 500's 2.44% return. Overall, Allego NV is considered overvalued in the current market environment.