Is National Fuel Gas Co. overvalued or undervalued?

As of 12 June 2025, the valuation grade for National Fuel Gas Co. has moved from fair to very expensive, indicating a significant shift in its perceived value. The company appears to be overvalued at this time. Key ratios include a P/E ratio of 11, a Price to Book Value of 2.70, and an EV to EBITDA of 9.36, which suggest that the stock is trading at a premium compared to its earnings and book value.
In comparison to its peers, National Fuel Gas Co. has a P/E ratio of 11.37, which is slightly above the industry average, while its EV to EBITDA ratio of 9.53 also reflects a higher valuation relative to similar companies. Notably, the PEG ratio stands at 0.24, indicating potential growth, but the current valuation does not justify the price given the overall market conditions. Additionally, the company's recent stock performance has outpaced the S&P 500, with a year-to-date return of 41.74% compared to the S&P 500's 2.44%, further complicating the valuation narrative.