Is Adtalem Global Education, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Adtalem Global Education, Inc. has moved from attractive to expensive, indicating a shift in its market perception. The company appears to be overvalued based on its current metrics, particularly with a P/E ratio of 37, a Price to Book Value of 6.07, and an EV to EBITDA of 21.15, which are significantly higher than those of its peers such as Stride, Inc. with a P/E of 23.77 and Life Time Group Holdings, Inc. with an EV to EBITDA of 10.92.
In comparison to the S&P 500, Adtalem has shown impressive returns, with a year-to-date return of 66.57% and a one-year return of 104.17%, both outperforming the index. However, despite these strong performance metrics, the elevated valuation ratios suggest that the stock may not be a prudent investment at its current price level.