Is Golar LNG Ltd. overvalued or undervalued?

As of 21 November 2025, Golar LNG Ltd. has moved from an expensive to a very expensive valuation grade, indicating a significant deterioration in its perceived value. The company is overvalued based on its current financial metrics, with a P/E ratio of 25, a Price to Book Value of 2.24, and an EV to EBITDA of 57.26. In comparison to peers, Frontline Plc has a more attractive P/E of 21.44 and an EV to EBITDA of 10.11, while Kirby Corp. shows a P/E of 15.18 and an EV to EBITDA of 8.73, highlighting Golar's relative overvaluation.
Additionally, Golar LNG's recent stock performance has been underwhelming, with a year-to-date return of -14.72% compared to the S&P 500's positive return of 12.26%, further reinforcing the notion that the stock is not only overvalued but also underperforming in the market.