Is Innodata, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Innodata, Inc. has moved from very expensive to fair. Based on the current metrics, the company appears to be fairly valued. Key valuation ratios include a P/E ratio of 50, a Price to Book Value of 23.71, and an EV to EBITDA of 46.83. In comparison, peers such as Global Blue Group Holding AG have a P/E of 28.57, while Yext, Inc. is considered expensive with a P/E of 114.99.
Innodata has demonstrated strong performance with a year-to-date return of 101.01%, significantly outperforming the S&P 500's 13.30% during the same period. This strong return, alongside its fair valuation, suggests that the market may have adjusted its expectations positively, reflecting the company's robust growth potential.