Is TrueBlue, Inc. overvalued or undervalued?

As of 23 October 2023, TrueBlue, Inc. has moved from an expensive to a risky valuation grade. The company appears to be overvalued based on its current financial metrics. Key ratios include a Price to Book Value of 0.64, an EV to EBIT of -9.42, and an EV to Sales of 0.16, all indicating significant challenges in profitability and valuation compared to peers.
In comparison to its peers, AMN Healthcare Services, Inc. has a P/E ratio of 20.16 and an EV to EBITDA of 7.71, while Kforce, Inc. shows a more attractive P/E of 49.41 and an EV to EBITDA of 33.55. TrueBlue's negative returns over multiple periods, including a YTD decline of -23.10% versus the S&P 500's gain of 12.22%, further reinforce the notion that the stock is struggling relative to broader market performance.