Is Olympic Steel, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Olympic Steel, Inc. has moved from attractive to very expensive, indicating a significant shift in its perceived value. The company appears overvalued based on its current metrics, with a P/E ratio of 21, an EV to EBITDA of 8.22, and a Price to Book Value of 0.61. In comparison to its peers, Insteel Industries, Inc. has a P/E of 22.80 and Park-Ohio Holdings Corp. shows a more attractive P/E of 9.58, further emphasizing Olympic Steel's high valuation relative to its industry.
The company's recent performance against the S&P 500 has been lackluster, with a year-to-date return of -16.12% compared to the index's 13.30%, and a one-year return of -30.73% versus 14.08% for the S&P 500. This underperformance reinforces the notion that Olympic Steel is overvalued in the current market environment.