Is Impinj, Inc. overvalued or undervalued?

As of 30 July 2025, the valuation grade for Impinj, Inc. has moved from risky to attractive, indicating a significant improvement in its perceived value. Based on the available metrics, the company appears to be undervalued, particularly when considering its high Price to Book Value of 20.48 and an EV to Sales ratio of 9.43. Additionally, the EV to Capital Employed ratio stands at 11.42, suggesting that the market may not be fully recognizing the company's potential.
In comparison to its peers, Impinj's P/E ratio is exceptionally high at 5840.63, while Tower Semiconductor Ltd. has a more reasonable P/E of 37.63, indicating that Impinj may be overvalued relative to this competitor. However, the company's strong performance in returns, with a 5-year stock return of 610.34% compared to the S&P 500's 96.61%, reinforces the narrative that the market may be undervaluing its growth potential. Overall, Impinj, Inc. is positioned as an attractive investment opportunity despite its current high valuation ratios.