Is EchoStar Corp. overvalued or undervalued?

As of 29 February 2024, EchoStar Corp. has moved from an attractive to a risky valuation grade. The company is currently assessed as overvalued, given its troubling financial metrics. The P/E ratio is not applicable due to the company being loss-making, while the Price to Book Value stands at a low 0.25. Additionally, the EV to EBITDA ratio is at 17.16, which is concerning in relation to its peers.
In comparison to its industry, EchoStar's valuation appears unfavorable. For instance, Verra Mobility Corp. has a P/E ratio of 28.19 and an EV to EBITDA of 13.58, while Iridium Communications, Inc. shows a P/E of 24.91 and an EV to EBITDA of 11.64. Furthermore, EchoStar's ROCE and ROE are negative at -0.90% and -3.79%, respectively, indicating poor profitability. Despite a recent strong performance against the S&P 500, with a 1-year return of 46.22% compared to 10.26% for the index, the underlying financials suggest that the stock is overvalued at its current price of 25.15.