Is Perfect Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Perfect Corp. has moved from attractive to expensive, indicating a shift towards overvaluation. The company appears to be overvalued based on its P/E ratio of 28, which is significantly higher than the industry average, and a PEG ratio of 0.57, suggesting that growth expectations may not justify the current price. Additionally, the EV to EBITDA ratio of -16.40 raises concerns about profitability relative to enterprise value.
In comparison to peers, Perfect Corp. has a P/E ratio of 32.53, which is higher than NerdWallet, Inc. at 14.42, indicating a premium valuation despite the latter being classified as very attractive. The stock has underperformed against the S&P 500, with a year-to-date return of -31.45% compared to the index's 13.30%, further reinforcing the notion that the stock may not be a favorable investment at its current price.