Is Ameren Corp. overvalued or undervalued?

As of 7 July 2025, the valuation grade for Ameren Corp. has moved from attractive to expensive, indicating a shift towards overvaluation. Based on the current metrics, Ameren appears to be overvalued, with a P/E ratio of 22, an EV to EBITDA of 14.15, and a Price to Book Value of 2.17. In comparison, peers such as Xcel Energy, Inc. have a P/E of 20.15 and Public Service Enterprise Group, Inc. at 20.07, both suggesting that Ameren's valuation is higher than its industry counterparts.
In terms of recent performance, Ameren's stock has underperformed relative to the S&P 500 over various periods, notably with a 3-year return of 7.55% compared to the S&P 500's 70.41%. This trend reinforces the notion that Ameren may be overvalued in the current market environment.