Is Cytek Biosciences, Inc. overvalued or undervalued?

As of 9 May 2023, the valuation grade for Cytek Biosciences, Inc. has moved from expensive to risky, indicating a shift in perception regarding its financial health. The company is currently considered overvalued. Key ratios reflect this assessment: the Price to Book Value stands at 1.15, while the EV to Sales ratio is 0.96, and the ROCE is notably negative at -20.58%.
In comparison to its peers, Cytek's EV to EBITDA ratio is -11.49, which is less favorable than MiMedx Group, Inc. at 13.0554, indicating a stark contrast in performance. Other risky peers, such as SI-BONE, Inc. with an EV to EBITDA of -23.8540, further highlight the challenging landscape for Cytek. Additionally, the company's stock has underperformed significantly, with a year-to-date return of -51.93% compared to a modest 2.44% return from the S&P 500, reinforcing the notion of overvaluation amidst a struggling performance.