Is Freshpet, Inc. overvalued or undervalued?

As of 17 October 2025, Freshpet, Inc. has moved from a fair to an expensive valuation grade. The company appears to be overvalued, particularly given its high P/E ratio of 120, EV to EBIT of 112.46, and Price to Book Value of 3.74. In comparison to peers, The J. M. Smucker Co. has a P/E of 23.79, while Ingredion, Inc. boasts a much lower P/E of 12.88, highlighting Freshpet's significant premium.
The company's recent stock performance has been notably poor, with a year-to-date return of -65.37% compared to the S&P 500's 13.30%, and a staggering -63.18% over the past year against the index's 14.08%. This stark contrast reinforces the notion that Freshpet is not only overvalued but also struggling in the current market environment.