Is Olympic Steel, Inc. overvalued or undervalued?

As of 3 October 2025, the valuation grade for Olympic Steel, Inc. has moved from very expensive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 21, the Price to Book Value is 0.61, and the EV to EBITDA ratio is 8.22, which suggests that the company is positioned reasonably compared to its peers.
In comparison to its industry, Olympic Steel's P/E ratio is higher than that of Insteel Industries, Inc. at 22.80 and lower than Park-Ohio Holdings Corp. at 9.58, indicating a mixed relative valuation landscape. Notably, NL Industries, Inc. is very attractive with a P/E of 4.86, highlighting a significant valuation difference within the sector. Over the past year, Olympic Steel has underperformed the S&P 500, with a return of -18.34% compared to the index's 17.82%, reinforcing the notion that while the stock may be fairly valued, it has not delivered competitive returns recently.