Is Manchester United Plc overvalued or undervalued?

As of 21 May 2020, the valuation grade for Manchester United Plc moved from very attractive to risky, indicating a significant deterioration in its investment appeal. The company appears to be overvalued given its current financial metrics, including a Price to Book Value of 11.48, an EV to EBITDA ratio of 21.13, and a troubling ROE of -42.52%. In comparison, peers such as Cinemark Holdings, Inc. show a more favorable EV to EBITDA of 8.09, while Madison Square Garden Sports Corp. has a significantly negative P/E ratio of -390.17, highlighting the challenges within this sector.
The stock has underperformed relative to the S&P 500 across multiple time frames, with a year-to-date return of -11.70% compared to the S&P 500's 12.22%. This trend reinforces the notion that Manchester United Plc is currently overvalued in the market.