Is EMCOR Group, Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for EMCOR Group, Inc. moved from attractive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 24, a Price to Book Value of 8.63, and an EV to EBITDA of 16.28. In comparison, Comfort Systems USA, Inc. has a higher P/E ratio of 38.72, while AECOM is considered expensive with a P/E of 22.09.
Despite the recent downgrade in valuation, EMCOR has shown impressive returns, outperforming the S&P 500 over multiple periods, including a YTD return of 48.88% compared to the S&P 500's 16.30%. This strong performance suggests that while the stock is currently fairly valued, it has the potential for continued growth.