Is Currenc Group, Inc. overvalued or undervalued?

As of 9 November 2023, the valuation grade for Currenc Group, Inc. has moved from does not qualify to risky, indicating a shift in perception regarding its investment potential. Based on the available metrics, the company appears to be overvalued, particularly when considering its P/E ratio of -7.02, which is significantly below the industry average, and an EV to EBITDA ratio of -2.81, suggesting that the market is pricing it unfavorably compared to its peers.
In comparison to its industry, Currenc Group, Inc. shows a stark contrast with competitors such as First Republic Bank, which has a P/E ratio of 12.5, and Zions Bancorporation, with an EV to EBITDA of 8.0. The company's recent performance has also been disappointing, with a one-year return of -39.19% compared to the S&P 500's return of 17.14%, further reinforcing the notion that it may be overvalued in the current market context.