Is Snap-On, Inc. overvalued or undervalued?

As of 10 March 2022, Snap-On, Inc. has moved from a very attractive to a fair valuation grade, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 20, an EV to EBITDA of 14.95, and a Price to Book Value of 3.85. In comparison, Fortive Corp. has a P/E ratio of 19.50 and an EV to EBITDA of 11.47, while Mettler-Toledo International, Inc. is considered risky with a significantly high P/E of 68.83.
Despite the fair valuation, Snap-On, Inc. has shown strong performance, with a one-year return of 20.96%, outperforming the S&P 500's return of 17.14%. This suggests that while the stock is fairly valued, it has been delivering solid returns relative to the broader market.