Is Bowman Consulting Group Ltd. overvalued or undervalued?

As of 6 August 2025, the valuation grade for Bowman Consulting Group Ltd. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be overvalued, given its high P/E ratio of 204, which significantly exceeds the industry average, and an EV to EBITDA ratio of 20.78, suggesting that investors are paying a premium for earnings before interest, taxes, depreciation, and amortization. Additionally, the PEG ratio stands at 1.65, indicating that the stock may be overvalued relative to its growth expectations.
In comparison to peers, Concrete Pumping Holdings, Inc. has a P/E ratio of 31.70, while Heliogen, Inc. is considered very attractive with a valuation of 0.21, highlighting the disparity in valuation metrics within the industry. Despite this, Bowman Consulting Group Ltd. has outperformed the S&P 500 with a year-to-date return of 74.07% compared to the index's 12.22%, suggesting strong market performance even as its valuation appears stretched.