Is Bitdeer Technologies Group overvalued or undervalued?

As of 9 August 2022, Bitdeer Technologies Group's valuation grade has moved from does not qualify to risky, indicating a significant shift in its perceived financial health. The company appears to be overvalued given its current financial metrics, with a Price to Book Value of 3.46 and an EV to Sales ratio of 8.39, which are notably high for a loss-making entity. Additionally, the company's ROCE and ROE are both deeply negative at -28.14% and -23.95%, respectively, further underscoring its financial struggles.
In comparison to its peers, Bitdeer Technologies Group's P/E ratio is not applicable due to its losses, while competitors like AvePoint, Inc. and Sterling Check Corp. have P/E ratios of 265.46 and 48.01, respectively, highlighting a stark contrast in valuation. The negative EV to EBITDA of -28.56 also positions Bitdeer unfavorably against peers such as Global Blue Group Holding AG, which has a much more attractive EV to EBITDA of 11.33. Given these factors, Bitdeer Technologies Group is deemed overvalued, particularly in light of its recent stock performance, which has significantly underperformed the S&P 500 over various time frames.