Is AlTi Global, Inc. overvalued or undervalued?

As of 22 May 2023, AlTi Global, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of 0.79, an EV to EBIT of -5.17, and an EV to EBITDA of -6.28, which indicate significant financial distress and unprofitability.
In comparison to its peers, AlTi Global's valuation appears unfavorable. For instance, PennantPark Floating Rate Capital Ltd. has a P/E ratio of 14.91 and an EV to EBITDA of 5.74, while Carlyle Secured Lending, Inc. shows a P/E of 13.68 and an EV to EBITDA of 5.18. These peers are classified as very attractive, highlighting the stark contrast in valuation and performance. Additionally, AlTi Global's recent stock performance has lagged behind the S&P 500, with a one-year return of -23.21% compared to the index's 10.26%, further reinforcing the view that the company is overvalued.