Is Steelcase, Inc. overvalued or undervalued?

As of 12 June 2025, Steelcase, Inc. has moved from an attractive to a very attractive valuation grade, indicating a significant improvement in its perceived value. The company is currently undervalued, with a P/E ratio of 10, which is notably lower than its peers such as Acme United Corp. at 19.60 and ACCO Brands Corp. at 4.33. Additionally, Steelcase's EV to EBITDA stands at 5.17, while the industry average is higher, suggesting that Steelcase is trading at a discount relative to its earnings potential.
Key ratios further support this valuation, with a PEG ratio of 0.28 and a ROCE of 16.08%, indicating strong returns on capital. The peer comparison highlights that Steelcase's valuation metrics, such as its P/E and EV to EBITDA ratios, are more favorable than those of its competitors, reinforcing the conclusion that the stock is undervalued. Despite recent stock performance lagging behind the S&P 500 over the past year, the current valuation metrics suggest a compelling investment opportunity.