Is Primoris Services Corp. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Primoris Services Corp. moved from expensive to fair, indicating a more favorable assessment of its market position. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 19, a Price to Book Value of 2.84, and an EV to EBITDA of 10.22. In comparison to peers, Dycom Industries, Inc. has a higher P/E of 28.01, while MasTec, Inc. is significantly more expensive with a P/E of 57.22.
The recent performance of Primoris Services Corp. has been impressive, with a year-to-date return of 87.53% compared to the S&P 500's 16.30%, and a remarkable 125.30% return over the past year against the S&P 500's 19.89%. This strong performance reinforces the view that the stock is fairly valued in the current market environment.