Is Hamilton Lane, Inc. overvalued or undervalued?

As of 14 November 2025, the valuation grade for Hamilton Lane, Inc. moved from very expensive to expensive, indicating a shift in perception but still reflecting a high valuation. The company appears overvalued based on its current metrics, with a P/E ratio of 37, a Price to Book Value of 11.26, and an EV to EBITDA ratio of 22.49. In comparison to peers, Hamilton Lane's P/E ratio of 39.27 is significantly higher than Stifel Financial Corp.'s fair valuation P/E of 18.08, suggesting that it is trading at a premium relative to more attractively valued companies in the sector.
While the company has strong performance indicators, such as a ROCE of 77.76% and a PEG ratio of 0.99, which suggests growth potential, the overall valuation metrics indicate that it is priced too high relative to its earnings and book value. Although specific return data is not available, the context of its valuation suggests that it may not be keeping pace with broader market returns, reinforcing the notion of overvaluation.