Is The Allstate Corp. overvalued or undervalued?

As of 30 April 2025, The Allstate Corp. has moved from a fair valuation to an expensive rating. The company is currently overvalued based on its high P/E ratio of 46, significantly above the industry average. Additionally, its Price to Book Value stands at 8.52, and the EV to EBITDA ratio is an exceptionally high 387.56, indicating that investors are paying a premium for its earnings and assets.
In comparison to its peers, The Allstate Corp. has a P/E ratio that is higher than Berkshire Hathaway's 21.31 and Chubb Ltd.'s 17.74, both of which are rated as fair. The PEG ratio of 0.27 suggests that growth expectations may not justify the current price, further supporting the overvaluation conclusion. While the company has performed well over the past year with a return of 23.56% compared to the S&P 500's 10.26%, this does not mitigate the concerns regarding its current valuation metrics.