Is Bowman Consulting Group Ltd. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Bowman Consulting Group Ltd. has moved from very attractive to fair. Based on the current metrics, the company appears to be overvalued. The P/E ratio stands at 204, significantly higher than the industry average, while the EV to EBITDA ratio is 20.78, indicating a high valuation relative to earnings before interest, taxes, depreciation, and amortization. Additionally, the PEG ratio of 1.65 suggests that the stock may not be growing fast enough to justify its current price.
In comparison to peers, Concrete Pumping Holdings, Inc. has a P/E of 31.70, which highlights the relative overvaluation of Bowman Consulting. Heliogen, Inc., which is rated very attractive, has a P/E of 0.21, further underscoring the disparity in valuations within the sector. Notably, Bowman Consulting has delivered a year-to-date return of 67.25%, significantly outperforming the S&P 500's 13.30%, which may indicate strong market sentiment despite its high valuation.