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

As of 17 October 2025, the valuation grade for Bio-Rad Laboratories, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with 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 ratio of 21.83, while QIAGEN NV stands at 24.20, suggesting that Bio-Rad is trading at a significant discount relative to these competitors.
Despite the recent fair valuation, Bio-Rad's stock performance has lagged behind the S&P 500, with a year-to-date return of -5.63% compared to the index's 13.30%. Over the past five years, the company's return has been -44.30%, while the S&P 500 has gained 91.29%. This underperformance reinforces the notion that Bio-Rad is fairly valued, as it struggles to keep pace with broader market trends.