Is Protean eGov overvalued or undervalued?

As of 30 October 2025, the valuation grade for Protean eGov has moved from very expensive to expensive, indicating a slight improvement in its perceived value. The company is currently considered overvalued. Key ratios include a PE ratio of 36.22, an EV to EBITDA of 38.54, and a PEG ratio of 4.96, which suggest that the stock is trading at a premium compared to its earnings growth potential.
In comparison to its peers, TCS has a more attractive PE ratio of 21.85 and an EV to EBITDA of 8.6, while Infosys shows a PE of 22.06 and an EV to EBITDA of 5.19, both indicating better value propositions. Additionally, Protean eGov's recent stock performance has been notably poor, with a year-to-date return of -56.12%, significantly underperforming the Sensex, which has returned 8.02% in the same period.