Is Nucor Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Nucor Corp. has moved from expensive to fair. Based on the current metrics, the company appears fairly valued. Key ratios include a P/E ratio of 23, an EV to EBITDA of 12.12, and a Price to Book Value of 1.97. In comparison, Steel Dynamics, Inc. has a P/E of 27.44 and an EV to EBITDA of 17.78, while Reliance, Inc. shows a P/E of 20.82 and an EV to EBITDA of 13.07, indicating that Nucor is positioned competitively within its peer group.
In terms of recent performance, Nucor's year-to-date return of 12.91% is slightly below the S&P 500's return of 13.30%, and over the past year, Nucor has underperformed with a return of -16.64% compared to the S&P 500's 14.08%. This performance context reinforces the notion that while Nucor is fairly valued, it may face challenges in the near term relative to broader market trends.