Is Mayville Engineering Co., Inc. overvalued or undervalued?

As of 22 August 2025, the valuation grade for Mayville Engineering Co., Inc. has moved from expensive to fair. Based on the current metrics, the company appears fairly valued. The P/E ratio stands at 83, the Price to Book Value is 1.28, and the EV to EBITDA ratio is 7.89, indicating a reasonable valuation relative to its peers.
In comparison to its peers, Mayville Engineering's P/E ratio is significantly higher than that of Eastman Kodak Co., which has a P/E of 9.22, and Core Molding Technologies, Inc., with a P/E of 31.45. The company has also shown a strong performance over the long term, with a 3-year return of 120.90%, outperforming the S&P 500's 70.41% during the same period. However, its year-to-date return of -6.55% lags behind the S&P 500's 12.22%, suggesting some recent underperformance.