Is OneWater Marine, Inc. overvalued or undervalued?

As of 16 November 2023, the valuation grade for OneWater Marine, Inc. has changed from expensive to risky, indicating a shift in perception regarding its valuation. Based on the available metrics, the company appears to be overvalued. The Price to Book Value stands at 0.65, while the EV to EBITDA is 12.92, and the EV to Sales is 0.63, suggesting that the market may not be pricing in the company's potential effectively compared to its peers.
In comparison to its peers, MarineMax, Inc. has a P/E ratio of 43.30 and an EV to EBITDA of 13.11, while Monro, Inc. shows a P/E of 23.95 and an EV to EBITDA of 7.36. These figures highlight that OneWater Marine, Inc. is lagging behind its competitors in terms of valuation metrics. Furthermore, the company's stock has underperformed significantly against the S&P 500, with a year-to-date return of -8.17% compared to the S&P 500's 12.22%, reinforcing the notion that OneWater Marine is currently overvalued.