Is Freedom Holding Corp. overvalued or undervalued?

As of 24 April 2025, Freedom Holding Corp. has moved from an expensive to a very expensive valuation grade. The company is currently overvalued based on its financial ratios, with a P/E ratio of 29, a Price to Book Value of 7.50, and an EV to EBITDA of 9.34. Compared to its peer, which has a P/E of 108.64 and an EV to EBITDA of 12.78, Freedom Holding Corp. appears to be significantly overpriced despite its strong ROE of 25.60%.
In terms of performance, the stock has shown a remarkable return of 76.57% over the past year, outperforming the S&P 500's return of 10.26%. However, the recent trend indicates a decline, with a 1-month return of -16.25%. Given the high valuation ratios and the recent stock performance, Freedom Holding Corp. is assessed to be overvalued in the current market environment.