Is FS KKR Capital Corp. overvalued or undervalued?

As of 10 May 2021, the valuation grade for FS KKR Capital Corp. moved from risky to very attractive. The company is currently undervalued, with a P/E ratio of 11, a Price to Book Value of 0.91, and an EV to EBIT of 5.49. Notably, its dividend yield stands at an impressive 13.43%, while the ROCE is 16.46% and ROE is 8.13%.
In comparison to peers, FS KKR Capital Corp. has a lower P/E ratio than Corebridge Financial, Inc. at 34.60 and The Carlyle Group Inc. at 15.35, indicating it is trading at a discount relative to these firms. Additionally, Ares Capital Corp. has a P/E of 11.26, which is close but still suggests FS KKR is positioned favorably. The company's recent stock performance has lagged behind the S&P 500, particularly over the last year, which may further support its undervalued status.