Is EQT Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for EQT Corp. has moved from fair to very expensive, indicating a significant shift in its valuation outlook. The company appears overvalued based on its current metrics, with a P/E ratio of 82, an EV to EBITDA of 12.49, and a Price to Book Value of 1.63. In comparison, peers such as Occidental Petroleum Corp. and Diamondback Energy, Inc. have P/E ratios of 13.39 and 9.24, respectively, highlighting a stark contrast in valuation.
Despite EQT Corp.'s impressive recent stock performance, with a 1-year return of 45.93% compared to the S&P 500's 14.08%, the high valuation ratios suggest that the stock may not be justified at its current price level. The PEG ratio of 0.36 indicates potential growth, yet the overall valuation metrics and peer comparisons reinforce the conclusion that EQT Corp. is overvalued.