Is Orion SA overvalued or undervalued?

As of 17 October 2025, the valuation grade for Orion SA has moved from fair to very expensive. This indicates that the company is overvalued based on its current financial metrics. Key ratios include a P/E ratio of 7, a Price to Book Value of 1.37, and an EV to EBITDA of 5.81, which suggest that the company's valuation is significantly higher compared to its peers. For instance, Tronox Holdings Plc has a P/E ratio of -3.44 and an EV to EBITDA of 10.37, while Green Plains, Inc. shows a P/E of -6.44 and a much higher EV to EBITDA of 35.40.
The recent stock performance of Orion SA has been notably poor, with a year-to-date return of -63.58% compared to a positive return of 13.30% for the S&P 500, reinforcing the notion that the stock is overvalued in the current market environment.