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 shift towards overvaluation. 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, peer companies such as Insteel Industries, Inc. have a P/E of 22.80 and Park-Ohio Holdings Corp. shows a more attractive P/E of 9.58, highlighting that Olympic Steel's valuation is not justified relative to its peers.
The stock has underperformed compared to the S&P 500, with a year-to-date return of -16.12% versus the index's 13.30%, and a one-year return of -30.73% compared to 14.08% for the S&P 500. This performance further reinforces the notion that Olympic Steel is currently overvalued in the market.