Is Momentus, Inc. overvalued or undervalued?

As of 19 August 2025, the valuation grade for Momentus, Inc. has moved from risky to does not qualify, indicating a significant deterioration in its investment appeal. The company is overvalued given its negative valuation ratios, including a Price to Book Value of -1.57, an EV to EBIT of -0.38, and an EV to EBITDA of -0.41. Compared to peers, Byrna Technologies, Inc. has a much more favorable P/E ratio of 29.95, while Coda Octopus Group, Inc. shows a fair valuation with an EV to EBITDA of 14.61.
Momentus, Inc. has experienced substantial declines in stock performance, with a year-to-date return of -84.99%, significantly underperforming the S&P 500, which has returned 12.22% in the same period. This stark contrast further reinforces the conclusion that Momentus, Inc. is overvalued in the current market environment.