Is Par Pacific Holdings, Inc. overvalued or undervalued?

As of 25 February 2025, the valuation grade for Par Pacific Holdings, Inc. has moved from attractive to risky. Based on the current analysis, the company appears to be overvalued. The P/E ratio is not applicable due to losses, while the Price to Book Value stands at 1.00, and the EV to EBITDA is at 25.39, indicating a significant premium compared to its earnings before interest, taxes, depreciation, and amortization.
In comparison to peers, Par Pacific's EV to EBITDA of 28.69 is notably higher than CVR Energy, Inc. at 35.91 and Delek US Holdings, Inc. at -336.08, suggesting that Par Pacific is trading at a higher multiple despite its financial struggles. Additionally, the company's ROCE is at -1.65% and ROE at -8.90%, further highlighting its challenges. Despite a strong recent performance with a year-to-date return of 62.17% compared to the S&P 500's 2.44%, the underlying financial metrics indicate that the stock is overvalued in the current market context.