Is Mister Car Wash, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Mister Car Wash, Inc. has moved from very attractive to attractive, indicating a shift in perception regarding its investment appeal. Based on the current metrics, the company appears to be overvalued. The P/E ratio stands at 26, which is significantly higher than the peer average of 20.37 for similar companies. Additionally, the EV to EBITDA ratio of 10.45 and a PEG ratio of 26.24 further reinforce this assessment, suggesting that the stock is priced at a premium relative to its earnings growth potential.
In comparison to its peers, Stride, Inc. has a P/E of 23.77 and Adtalem Global Education, Inc. has a much higher P/E of 39.20, indicating that Mister Car Wash is relatively more expensive. The company's recent performance has also been underwhelming, with a year-to-date return of -34.29% compared to the S&P 500's positive return of 13.30%, highlighting a significant underperformance in the market. Overall, these factors suggest that Mister Car Wash, Inc. may not be an attractive investment at its current valuation.