Is Ampco-Pittsburgh Corp. overvalued or undervalued?

As of 12 August 2025, the valuation grade for Ampco-Pittsburgh Corp. has moved from very attractive to risky, indicating a shift in the company's perceived value. The company appears to be overvalued, given its P/E ratio of 23, which is significantly higher than its peers such as Ryerson Holding Corp. with a P/E of -32.11 and Metallus, Inc. at -61.98. Additionally, the EV to EBITDA ratio stands at 6.40, which is less favorable compared to Universal Stainless & Alloy Products, Inc. at 8.38, further supporting the overvaluation assessment.
The company's return performance also reflects this valuation concern, as it has underperformed against the S&P 500 over various periods, particularly in the 3-year and 5-year returns, where it showed declines of -36.63% and -19.24%, respectively, compared to the S&P 500's gains of 70.41% and 96.61%. This trend suggests that investors may want to exercise caution when considering Ampco-Pittsburgh Corp. as an investment option.