Is Myers Industries, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Myers Industries, Inc. moved from fair to very expensive, indicating a significant shift in its valuation outlook. The company appears to be overvalued based on its current metrics, with a P/E ratio of 18, a Price to Book Value of 2.22, and an EV to EBITDA of 8.51. In comparison, peers such as Omega Flex, Inc. have a P/E of 20.93 and an EV to EBITDA of 14.18, while Matthews International Corp. shows an extremely high P/E of 255.76, suggesting that Myers is relatively less expensive but still in the very expensive category.
Despite the overvaluation, Myers Industries has shown strong performance with a year-to-date return of 47.37%, significantly outperforming the S&P 500's 13.30% during the same period. However, over a longer horizon, the company's 3-year return of -7.71% starkly contrasts with the S&P 500's 81.19%, reinforcing the notion that while recent performance has been strong, the valuation metrics suggest caution moving forward.