Is Maravai Lifesciences Holdings, Inc. overvalued or undervalued?

As of 22 February 2024, the valuation grade for Maravai Lifesciences Holdings, Inc. has moved from very expensive to risky, indicating a significant shift in its perceived value. Based on the analysis, the company appears to be overvalued given its current financial metrics. The P/E ratio is not applicable due to losses, while the Price to Book Value stands at 2.02, and the EV to Sales ratio is 2.56, both suggesting a premium relative to its earnings potential.
In comparison to its peers, Maravai's EV to EBITDA ratio of -23.39 is notably worse than BioCryst Pharmaceuticals, which has an EV to EBITDA of 75.78, and Arcus Biosciences with an EV to EBITDA of 0.0371. Additionally, the company's ROCE and ROE are concerning at -27.14% and -34.98%, respectively. The stock has significantly underperformed against the S&P 500, with a year-to-date return of -61.28% compared to the index's 2.44%. This combination of factors reinforces the conclusion that Maravai Lifesciences is currently overvalued.