Is Plexus Corp. overvalued or undervalued?

As of 10 October 2025, the valuation grade for Plexus Corp. has moved from attractive to very attractive. Despite this positive change, the company appears to be overvalued based on its current valuation ratios. The P/E ratio stands at 46, significantly higher than the peer average of approximately 44.93, while the EV to EBITDA ratio is 24.32, which is also above the industry benchmark. Additionally, the PEG ratio of 2.42 suggests that the stock may be overvalued relative to its growth prospects.
In comparison to its peers, Littelfuse, Inc. has a P/E ratio of 30.08, and Universal Display Corp. shows a more favorable EV to EBITDA ratio of 21.14. These metrics indicate that Plexus Corp. is trading at a premium compared to its competitors, which reinforces the notion of overvaluation. Furthermore, Plexus has underperformed against the S&P 500 over the year, with a return of -0.13% compared to the index's 13.36%, suggesting that investors may be cautious about its current valuation.