Is Frontline Plc overvalued or undervalued?

As of 31 May 2023, the valuation grade for Frontline Plc has moved from attractive to very attractive, indicating a positive shift in its valuation outlook. The company is currently considered undervalued. Key ratios include a P/E ratio of 11, an EV/EBITDA of 8.08, and a dividend yield of 18.04%.
In comparison to its peers, Frontline Plc's P/E ratio of 11 is significantly lower than Kirby Corp.'s 19.91, which is categorized as very expensive, while Scorpio Tankers, Inc. has a P/E of 7.57, also indicating a very attractive valuation. The recent stock performance shows that Frontline has outperformed the S&P 500 year-to-date, with a return of 30.94% compared to the index's 2.44%.