Is Primoris Services Corp. overvalued or undervalued?

As of 14 November 2025, the valuation grade for Primoris Services Corp. moved from fair to attractive, indicating a positive shift in its valuation outlook. Based on the current metrics, the company appears undervalued, especially when considering its P/E ratio of 19, a PEG ratio of 0.47, and an EV to EBITDA ratio of 10.22. In comparison, peers such as MasTec, Inc. have a much higher P/E of 57.22, while Sterling Infrastructure, Inc. shows an attractive valuation with an EV to EBITDA of 21.61.
The stock has significantly outperformed the S&P 500 over multiple periods, with a remarkable 453.92% return over the last three years compared to the S&P 500's 70.17%. This strong performance further supports the notion that Primoris Services Corp. is undervalued relative to its peers and the broader market.