Is Excelerate Energy, Inc. overvalued or undervalued?

As of 21 November 2025, the valuation grade for Excelerate Energy, Inc. moved from expensive to fair. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 20, an EV to EBITDA ratio of 10.52, and a PEG ratio of 0.36. In comparison, Clean Energy Fuels Corp. has a P/E of -4.19, indicating significant risk, while New Fortress Energy, Inc. has a P/E of 3.31, also reflecting a risky valuation.
Despite the fair valuation, Excelerate Energy has underperformed relative to the S&P 500, with a year-to-date return of -11.57% compared to the index's 12.26%. This trend continues over the one-year period, where the stock returned -12.06% versus the S&P 500's 11.00%. Overall, while the valuation metrics suggest a fair position, the recent performance against the benchmark indicates potential concerns for investors.