Is Workhorse Group, Inc. overvalued or undervalued?

As of 1 March 2023, the valuation grade for Workhorse Group, Inc. has moved from does not qualify to risky. The company is currently deemed overvalued based on its financial metrics. Key ratios include a Price to Book Value of 0.28, an EV to EBIT of -0.40, and an EV to EBITDA of -0.46, all indicating significant financial distress and inefficiency.
In comparison to its peers, Workhorse Group's valuation metrics are starkly unfavorable. For instance, REV Group, Inc. has a P/E ratio of 15.71 and an EV to EBITDA of 12.67, while Blue Bird Corp. shows a P/E of 12.89 and an EV to EBITDA of 9.21, both reflecting healthier valuations. Additionally, the company's recent stock performance has been dismal, with a year-to-date return of -88.93%, contrasting sharply with the S&P 500's 2.44% gain, further underscoring its overvaluation status.