Is Everspin Technologies, Inc. overvalued or undervalued?

As of 22 August 2025, the valuation grade for Everspin Technologies, Inc. has moved from fair to very expensive, indicating a significant increase in perceived overvaluation. The company is currently considered overvalued, especially given its P/E ratio is not applicable due to losses, while its Price to Book Value stands at 2.11, and the EV to Sales ratio is 2.00. Additionally, the EV to EBITDA ratio is -15.71, reflecting negative earnings before interest, taxes, depreciation, and amortization.
In comparison to its peers, Everspin's valuation metrics are strikingly high; for instance, NVE Corp. has a P/E of 22.26, while CEVA, Inc. and Arteris, Inc. show much lower P/E ratios of -57.88 and -11.05, respectively. This stark contrast further underscores Everspin's overvaluation. Although return data is not available for a direct comparison with the S&P 500, the elevated valuation ratios suggest that investors may be paying a premium for Everspin relative to its financial performance and peer group.