Is Freshpet, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Freshpet, Inc. moved from expensive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 120, an EV to EBITDA of 36.23, and a PEG ratio of 0.52. In comparison, peers such as The J. M. Smucker Co. have a P/E of 23.79, while Ingredion, Inc. shows a more attractive P/E of 12.88.
Despite the recent grade change, Freshpet's stock has significantly underperformed against the S&P 500, with a year-to-date return of -63.46% compared to the S&P's 15.47%. This stark contrast in performance may indicate that while the valuation has improved, the market sentiment remains cautious.