Is Plexus Corp. overvalued or undervalued?

As of 17 October 2025, Plexus Corp. has moved from a very attractive to an attractive valuation grade. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 46, an EV to EBITDA of 24.32, and a PEG ratio of 2.42, which are significantly higher than industry peers such as Universal Display Corp. with a P/E of 28.20 and EV to EBITDA of 21.14, indicating a premium valuation relative to its competitors.
In terms of recent performance, Plexus Corp. has shown strong short-term returns, outperforming the S&P 500 with a 1-week return of 11.09% compared to 1.70% for the index, and a 1-month return of 7.42% versus 0.96%. However, over longer periods, the stock has underperformed, with a year-to-date return of -5.09% against the S&P 500's 13.30% and a 1-year return of 6.42% compared to 14.08% for the index, reinforcing the view that the stock may be overvalued.