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in the PONS Dictionary

under·stat·ed [ˌʌndəˈsteɪtɪd, Am -ɚˈsteɪt̬ɪd] ADJ

1. understated:

understated (downplayed)
understated (underestimated) figures

2. understated approv (restrained):

understated
understated elegance
understated humour

under·state [ˌʌndəˈsteɪt, Am -ɚˈ-] VB trans

to understate sth ECON
untertreiben <untertreibt, untertrieb, untertrieben>
Present
Iunderstate
youunderstate
he/she/itunderstates
weunderstate
youunderstate
theyunderstate
Past
Iunderstated
youunderstated
he/she/itunderstated
weunderstated
youunderstated
theyunderstated
Present Perfect
Ihaveunderstated
youhaveunderstated
he/she/ithasunderstated
wehaveunderstated
youhaveunderstated
theyhaveunderstated
Past Perfect
Ihadunderstated
youhadunderstated
he/she/ithadunderstated
wehadunderstated
youhadunderstated
theyhadunderstated