Is Perimeter Solutions SA overvalued or undervalued?

As of 24 October 2025, the valuation grade for Perimeter Solutions SA has moved from fair to expensive, indicating that the company is overvalued. Key valuation ratios include a P/E ratio of 14, an EV to EBITDA of 11.51, and a Price to Book Value of 1.55. In comparison to peers, Eastman Chemical Co. has a more attractive P/E ratio of 15.68, while Element Solutions, Inc. shows a P/E of 24.64, both suggesting that Perimeter Solutions is trading at a premium relative to its industry counterparts.
Despite a strong year-to-date return of 72.54% compared to the S&P 500's 15.47%, the current valuation metrics suggest that the stock may not be justified at its present price level. The combination of high valuation ratios and the recent downgrade in grade supports the conclusion that Perimeter Solutions SA is overvalued.