Is Innovex International, Inc. overvalued or undervalued?

As of 25 February 2025, the valuation grade for Innovex International, Inc. has moved from attractive to fair. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 11.90, an EV to EBITDA of 7.11, and a PEG ratio of 0.0, indicating a lack of growth expectations.
In comparison to its peers, Innovex's P/E ratio is lower than the industry average, suggesting it may be undervalued relative to its competitors. For instance, if we consider a peer like Company X with a higher P/E ratio, it highlights Innovex's relative valuation. Over the past year, Innovex has returned 10.38%, which is below the S&P 500's return of 17.14%, reinforcing the notion that the stock may be fairly valued given its performance relative to the broader market.