Is Bio-Rad Laboratories, Inc. overvalued or undervalued?

As of 22 August 2025, the valuation grade for Bio-Rad Laboratories, Inc. has moved from expensive to fair. The company is currently fairly valued based on its financial metrics. Key ratios include a P/E ratio of 5, a Price to Book Value of 0.91, and an EV to EBITDA of 10.62. In comparison to peers, Hologic, Inc. has a P/E of 21.83, while QIAGEN NV stands at a P/E of 24.20, indicating that Bio-Rad is trading at a significant discount relative to these competitors.
Despite its fair valuation, Bio-Rad has underperformed against the S&P 500, with a year-to-date return of -12.79% compared to the S&P 500's 12.22%. Over the past three years, the company has seen a decline of -36.13%, while the S&P 500 has gained 70.41%, further emphasizing the challenges Bio-Rad faces in the market.