Is Bitcoin Depot, Inc. overvalued or undervalued?

As of 9 February 2023, Bitcoin Depot, Inc. has moved from a grade of does not qualify to risky, indicating increased scrutiny regarding its valuation. The company is currently overvalued, as evidenced by its negative P/E ratio of -388.95 and a price-to-book value of -17.55, which suggests significant concerns about its financial health. Additionally, the EV to EBITDA ratio stands at 5.52, which, while not excessively high, is overshadowed by the negative capital employed reflected in its ROCE and ROE metrics.
In comparison to its peers, Bitcoin Depot, Inc. is notably less favorable than Oppenheimer Holdings, Inc., which has a P/E ratio of 8.46 and an EV to EBITDA of 2.57, indicating a more stable valuation. Perella Weinberg Partners also presents a concerning P/E of -152.50, but it still reflects a less extreme valuation than Bitcoin Depot. Furthermore, the recent stock performance shows a significant 1-year return of 268.97%, which starkly contrasts with the S&P 500's return of 10.26%, but this may not be sustainable given the current valuation metrics.