Is Perfect Corp. overvalued or undervalued?

As of 28 November 2025, the valuation grade for Perfect Corp. has moved from fair to expensive, indicating a shift towards overvaluation. The company is currently assessed as overvalued, with a P/E ratio of 28, a Price to Book Value of 1.23, and a PEG ratio of 0.57. In comparison, peers such as NerdWallet, Inc. exhibit a more attractive P/E of 14.42, while American Software, Inc. is deemed very expensive with a P/E of 167.83.
Recent stock performance shows Perfect Corp. has underperformed against the S&P 500, with a year-to-date return of -36.75% compared to the S&P 500's gain of 16.45%. This further reinforces the notion that the stock may be overvalued given its lackluster returns relative to the broader market.