Is Casey's General Stores, Inc. overvalued or undervalued?

As of 8 September 2025, the valuation grade for Casey's General Stores, Inc. moved from expensive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 31, which is relatively high compared to peers like Target Corp. with a P/E of 11.82 and Tractor Supply Co. at 32.73. Additionally, the EV to EBITDA ratio is 16.15, while the PEG ratio is 2.40, indicating that the stock may not be undervalued despite its fair valuation grade.
In comparison to its peers, Casey's General Stores, Inc. has a higher P/E ratio than Target Corp. and a lower EV to EBITDA than Tractor Supply Co., suggesting a competitive position within the retailing industry. Over the past year, Casey's stock has returned 45.76%, significantly outperforming the S&P 500's return of 17.14%, reinforcing the notion that while the stock is fairly valued, it has delivered strong performance relative to the broader market.