Is Codere Online Luxembourg SA overvalued or undervalued?

As of 17 October 2025, the valuation grade for Codere Online Luxembourg SA moved from very expensive to expensive, indicating a slight improvement in perceived value. The company appears to be overvalued, particularly given its high P/E ratio of 371.97, which is not applicable due to its loss-making status, and an EV to Sales ratio of 1.59. In comparison, peers such as Golden Entertainment, Inc. have a P/E of 37.80 and an EV to EBITDA of 7.70, while Marcus Corp. shows a more attractive P/E of 21.71 and an EV to EBITDA of 4.76.
Despite a recent 1-week stock return of 2.12% compared to the S&P 500's 1.70%, the year-to-date performance of 4.50% trails the index's 13.30%, and the one-year return of -19.09% significantly underperforms the S&P 500's 14.08%. This underperformance reinforces the notion that Codere Online Luxembourg SA is overvalued in its current market position.