Is Proto Labs, Inc. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Proto Labs, Inc. has moved from very expensive to fair. Based on the current metrics, the company appears to be fairly valued. Key ratios include a P/E ratio of 44, an EV to EBITDA of 13.93, and a Price to Book Value of 1.39. In comparison to peers, Proto Labs' P/E ratio is significantly lower than Genesis Energy LP's 126.33, but higher than Ecovyst, Inc.'s 18.34, indicating a mixed valuation landscape within its industry.
The stock has outperformed the S&P 500 in several recent periods, with a 1-year return of 103.65% compared to the S&P 500's 16.90%, suggesting strong market performance despite the longer-term challenges reflected in its 5-year return of -60.19%. Overall, Proto Labs, Inc. is currently fairly valued relative to its peers and market performance.