Is Fidelis Insurance Holdings Ltd. overvalued or undervalued?

As of 14 May 2025, the valuation grade for Fidelis Insurance Holdings Ltd. has moved from expensive to risky. The company is currently considered overvalued, given its significant negative metrics. The P/E ratio is not applicable due to losses, while the Price to Book Value stands at 0.80, and the EV to Sales ratio is at 0.53, indicating a low valuation relative to sales despite the overall financial distress.
In comparison to peers, Enact Holdings, Inc. is rated very attractive with a P/E of 7.50, while Enstar Group Ltd. is rated fair with a P/E of 9.12. These ratios highlight the stark contrast between Fidelis and its competitors, particularly given that Fidelis's EV to EBITDA is at a troubling -87.26. Additionally, the company's recent stock performance has lagged behind the S&P 500, with a year-to-date return of -12.74% compared to the index's 2.44%, reinforcing the notion of overvaluation amidst ongoing losses.