Is Edoc Acquisition Corp. overvalued or undervalued?

As of 11 November 2024, Edoc Acquisition Corp. has moved from a valuation grade of "does not qualify" to "risky." The company is currently considered overvalued. Key ratios indicate significant financial distress, with a Price to Book Value of -10.20, an EV to EBIT of -21.62, and a Return on Capital Employed (ROCE) of -21.46%.
In comparison to its peers, Edoc's P/E ratio is -14.73, while Oxus Acquisition Corp. has a P/E of -5.25, highlighting a stark contrast in valuation metrics. Other peers like Concord Acquisition Corp. III show a P/E of -2.93, further emphasizing Edoc's unfavorable position. The company's stock has underperformed significantly year-to-date, down 32.27%, compared to a modest 2.44% gain in the S&P 500, reinforcing the notion that Edoc Acquisition Corp. is overvalued in its current state.