Is Marten Transport Ltd. overvalued or undervalued?

As of 19 September 2025, the valuation grade for Marten Transport Ltd. moved from very expensive to fair. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 49, an EV to EBITDA of 7.73, and a Price to Book Value of 1.38. In comparison to peers, J.B. Hunt Transport Services, Inc. has a P/E of 40.85, while Knight-Swift Transportation Holdings, Inc. shows a P/E of 45.62, indicating that Marten's valuation is competitive within its industry.
Despite the fair valuation, Marten Transport has underperformed significantly against the S&P 500, with a year-to-date return of -28.76% compared to the index's 13.31%. This trend of negative returns over multiple periods suggests that while the stock is currently fairly valued, market sentiment may be weighing heavily on its performance.