Is Conagra Brands, Inc. overvalued or undervalued?

As of 27 May 2025, the valuation grade for Conagra Brands, Inc. has moved from expensive to very attractive, indicating a significant improvement in its perceived value. The company appears undervalued, especially when considering its P/E ratio of 9, which is notably lower than peers such as The J. M. Smucker Co. with a P/E of 23.79 and Ingredion, Inc. at 12.88. Additionally, Conagra's EV to EBITDA ratio stands at 10.63, which is more favorable compared to Lamb Weston Holdings, Inc. at 15.03.
Despite the attractive valuation metrics, Conagra has faced considerable stock performance challenges, with a year-to-date return of -32.43% compared to the S&P 500's positive return of 12.22%. This stark contrast in performance reinforces the notion that the stock may be undervalued relative to its fundamentals.