Understanding the Valuation Shift
As of 26 Nov 2025, Smartworks Cowor’s valuation grade was revised from expensive to fair. This adjustment reflects a reassessment of the company’s financial health and market prospects. Despite a negative price-to-earnings (PE) ratio, which is unusual and indicative of losses or negative earnings, other valuation multiples provide a more nuanced picture.
The company’s price-to-book (P/B) ratio stands at 11.28, suggesting investors are willing to pay a significant premium over the book value. Meanwhile, the enterprise value to EBITDA (EV/EBITDA) ratio is 11.80, which is moderate compared to peers in the diversified commercial services sector. The EV to EBIT ratio is notably high at 44.94, signalling that earnings before interest and tax...
Read More





