Is Wilhelmina International, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Wilhelmina International, Inc. moved from very expensive to attractive, indicating a shift towards a more favorable assessment. The company appears undervalued based on its current metrics, with a P/E ratio of 21, a Price to Book Value of 0.83, and an EV to EBITDA of 8.84. In comparison, its peer Coya Therapeutics, Inc. has a P/E of approximately 18.70, while Team, Inc. shows a higher EV to EBITDA of 9.80, suggesting that Wilhelmina may offer better value relative to its peers.
Despite its attractive valuation, Wilhelmina has underperformed against the S&P 500, with a year-to-date return of -16.9% compared to the index's 15.47%. This trend continues over longer periods, with a 3-year return of -24.16% versus the S&P's 78.85%, highlighting the challenges the company faces despite its attractive valuation metrics.