Is Sun Country Airlines Holdings, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Sun Country Airlines Holdings, Inc. has moved from fair to expensive, indicating a shift towards overvaluation. The company appears overvalued based on its P/E ratio of 12, which is higher than its peer average P/E of approximately 11.62, and an EV to EBITDA ratio of 3.88, which is also above the peer comparison of 4.01. Additionally, the Price to Book Value stands at 1.04, suggesting that the stock is trading at a premium relative to its book value.
In comparison to its peers, Air Transport Services Group, Inc. is considered very expensive with a P/E of 54.21, while Spirit Airlines, Inc. is classified as risky with a negative P/E. The recent performance of Sun Country Airlines against the S&P 500 is not available, but the overall valuation metrics suggest that investors may want to exercise caution given the current price levels.