Is Lyft, Inc. overvalued or undervalued?

As of 7 July 2025, Lyft, Inc. has moved from an attractive to a fair valuation grade. The company appears to be overvalued based on its current metrics, with a P/E ratio of 65, a Price to Book Value of 7.79, and an EV to EBITDA of 38.89. In comparison, peers such as Vontier Corp. exhibit a more reasonable P/E of 15.89 and EV to EBITDA of 11.87, while Bristow Group, Inc. shows a P/E of 9.82 and EV to EBITDA of 7.87, highlighting Lyft's relative overvaluation.
Despite its recent stock performance, where it outperformed the S&P 500 with a YTD return of 70.23% compared to 12.22%, the valuation ratios suggest that Lyft is not justified at its current price level. The significant disparity in valuation ratios compared to its peers indicates that Lyft may be priced too high relative to its earnings potential and market position.