Is Thomas Cook (I) overvalued or undervalued?

As of 14 November 2025, the valuation grade for Thomas Cook (I) has moved from attractive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a price-to-earnings (PE) ratio of 30.11, a price-to-book value of 3.07, and an EV to EBITDA ratio of 14.68. Notably, its return on capital employed (ROCE) stands at 17.63%, reflecting a solid operational efficiency.
In comparison with peers, Thomas Cook (I) has a lower PE ratio than I R C T C, which is very expensive at 42.31, and TBO Tek, also very expensive at 76.67. Meanwhile, Easy Trip Planning, which is fairly valued, has a PE ratio of 38.00. Despite the fair valuation, Thomas Cook (I) has underperformed the Sensex, with a year-to-date return of -21.25% compared to the Sensex's 8.22%, suggesting that the stock may be facing challenges in the current market environment.