Is Alset Capital Acquisition Corp. overvalued or undervalued?

As of 31 March 2025, the valuation grade for Alset Capital Acquisition Corp. has moved from does not qualify to risky. The company appears to be overvalued based on its financial metrics, particularly given its negative P/E ratio and alarming ROCE of -152.62%. The price-to-book value stands at 2.36, while the EV to EBITDA ratio is -3.67, indicating significant operational challenges.
In comparison to peers, Alset Capital Acquisition Corp. has a P/E of -5.9890, which is worse than Mercato Partners Acquisition Corp. at -4.9923, which is rated fair. Additionally, the EV to EBITDA ratio of Alset is significantly lower than that of Chavant Capital Acquisition Corp., which is also rated risky at -0.7069. The stock has underperformed notably against the S&P 500, with a year-to-date decline of 62.16% compared to the index's gain of 2.44%, reinforcing the notion that the company is currently overvalued.