Is TriNet Group, Inc. overvalued or undervalued?

As of 25 July 2025, the valuation grade for TriNet Group, Inc. moved from expensive to fair. The company is currently fairly valued based on its financial metrics. Key ratios include a P/E ratio of 24, an EV to EBITDA ratio of 10.23, and a Price to Book Value of 63.96. In comparison to peers, TriNet's P/E ratio of 23.23 is significantly lower than Medpace Holdings, Inc.'s P/E of 33.13, indicating a more attractive valuation, while ICON plc presents a lower P/E of 14.64, suggesting it is even more undervalued.
Despite its fair valuation, TriNet has underperformed relative to the S&P 500, with a year-to-date return of -25.06% compared to the index's 12.22%. This trend continues over longer periods, with a 1-year return of -30.34% versus 17.14% for the S&P 500, highlighting potential concerns for investors.