Is Getaround, Inc. overvalued or undervalued?

As of 31 March 2022, Getaround, Inc. has moved from a grade of "does not qualify" to "risky," indicating a significant downgrade in its valuation outlook. The company is currently assessed as overvalued, given its negative financial metrics, including a price-to-book value of -0.04 and an EV to EBITDA ratio of -1.20. Additionally, the return on capital employed (ROCE) stands at a concerning -157.90%, reflecting severe operational inefficiencies.
In comparison to its peers, Getaround's valuation appears unfavorable. For instance, Bristow Group, Inc. is rated as attractive with a P/E ratio of 9.07 and an EV to EBITDA of 7.42, while Seacor Marine Holdings, Inc. is also classified as risky but has a significantly higher EV to EBITDA of 16.81. The stark contrast in these ratios highlights Getaround's struggles within its industry. Furthermore, the company's stock has underperformed dramatically, with a year-to-date decline of 36.84%, compared to a modest gain of 2.44% for the S&P 500, reinforcing the notion of its overvaluation.