Is Delcath Systems, Inc. overvalued or undervalued?

As of 6 August 2025, the valuation grade for Delcath Systems, Inc. has moved from risky to expensive, indicating a shift towards overvaluation. The company appears overvalued based on its high Price to Book Value of 7.11 and an EV to Sales ratio of 9.50, which significantly exceeds typical industry benchmarks. Additionally, the EV to Capital Employed ratio stands at 23.86, suggesting that the market is pricing the company at a premium relative to its capital efficiency.
In comparison to its peers, Delcath's P/E ratio of 68.06 is markedly higher than iCAD, Inc. at -19.65 and Eargo, Inc. at -0.61, both of which are also classified as risky. This further reinforces the notion that Delcath is overvalued within its industry context. While specific return data is not available, the lack of positive returns relative to the S&P 500 may also suggest that the stock is not performing well, aligning with its expensive valuation status.