Is Janover, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Janover, Inc. has moved from very expensive to expensive, indicating a slight improvement in perceived value but still suggesting overvaluation. The company is considered overvalued based on its high Price to Book Value of 96.32, a negative EV to EBITDA of -102.74, and a ROE of -95.55%, which reflect significant financial distress and inefficiency.
In comparison to its peers, Janover's valuation metrics are starkly unfavorable; for instance, Mill City Ventures III Ltd. has a P/E ratio of 324.84, while USIO, Inc. shows a fair valuation with a P/E of 14.11. Despite Janover's remarkable year-to-date stock return of 1876.64%, which significantly outperformed the S&P 500's 13.30%, the underlying financial ratios suggest that the stock remains overvalued in the current market context.