First Trust Active Factor Large Cap ETF (AFLG) Valuation
AFLG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.9 trailing earnings
- Forward P/E
- 15.5 analyst estimates
- Price / sales
- 1.98
- Price / book
- 4.19
- EV / EBITDA
- 13.1
- Earnings yield
- 5.02% inverse of P/E
- Dividend yield
- 1.34% of the holdings
- Return on equity
- 21.0% combined
- Net margin
- 9.9% combined
- Beta
- 1.08 weighted, vs S&P 500
AFLG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| AFLG | 19.9 | 15.5 | 1.98 | 4.19 | 1.34% | 21.0% | 9.9% | 1.0% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
AFLG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 38.6% | 27.0 | 20.2 | 4.27 | 8.75 | 0.68% | 32.4% |
| Financial Services | 10.3% | 11.9 | 11.6 | 2.10 | 2.13 | 1.52% | 17.9% |
| Communication Services | 9.0% | 16.6 | 16.0 | 3.56 | 4.40 | 1.14% | 26.6% |
| Consumer Cyclical | 8.0% | 18.6 | 14.1 | 1.26 | 3.81 | 1.07% | 20.5% |
| Healthcare | 7.9% | 26.9 | 13.6 | 0.81 | 3.92 | 1.47% | 14.6% |
| Industrials | 7.4% | 23.0 | 16.5 | 1.66 | 4.75 | 1.49% | 20.7% |
| Energy | 6.6% | 14.9 | 10.3 | 1.32 | 2.30 | 1.99% | 15.4% |
| Basic Materials | 3.5% | 15.8 | 13.3 | 2.24 | 3.45 | 1.47% | 21.9% |
| Utilities | 3.4% | 18.3 | 14.2 | 1.83 | 1.81 | 3.46% | 9.9% |
| Consumer Defensive | 2.9% | 21.1 | 13.8 | 0.75 | 10.81 | 3.74% | 51.3% |
| Real Estate | 2.2% | 16.3 | 15.6 | 2.04 | 2.43 | 4.41% | 14.9% |
AFLG earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How AFLG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
AFLG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 7.26% | 27.1 | 24.9 | 17.1 | 0.47% | 5.37% |
| AAPL | Apple Inc. | 7.16% | 39.4 | 35.2 | 10.7 | 0.31% | 3.64% |
| GOOGL | Alphabet Inc. | 5.51% | 17.1 | 22.8 | 9.3 | 0.26% | 6.46% |
| MSFT | Microsoft Corporation | 4.28% | 29.5 | 25.1 | 11.8 | 0.74% | 2.91% |
| AMZN | Amazon.com, Inc. | 2.25% | 20.1 | 23.6 | 3.5 | — | 2.24% |
| AVGO | Broadcom Inc. | 2.13% | 43.3 | 19.4 | 17.6 | 0.79% | 0.99% |
| V | Visa Inc. | 1.19% | 34.3 | 24.0 | 17.0 | 0.67% | 0.70% |
| XOM | Exxon Mobil Corporation | 1.07% | 23.0 | 14.8 | 2.0 | 2.30% | 0.93% |
| DINO | HF Sinclair Corporation | 1.05% | 11.9 | 10.0 | 0.7 | 1.68% | 1.77% |
| ALL | The Allstate Corporation | 1.02% | 5.0 | 8.3 | 0.9 | 1.74% | 4.10% |
| MO | Altria Group, Inc. | 1.00% | 15.8 | 11.9 | 6.1 | 5.91% | 1.27% |
| VLO | Valero Energy Corporation | 1.00% | 18.5 | 10.2 | 1.0 | 1.08% | 1.08% |
| ED | Consolidated Edison, Inc. | 0.97% | 18.2 | 16.1 | 2.3 | 3.16% | 1.07% |
| NEM | Newmont Corporation | 0.95% | 15.0 | 11.6 | 4.8 | 0.88% | 1.27% |
| NTAP | NetApp, Inc. | 0.94% | 28.7 | 21.4 | 5.4 | 1.02% | 0.65% |
| EOG | EOG Resources, Inc. | 0.89% | 12.3 | 10.1 | 3.1 | 2.58% | 1.45% |
| META | Meta Platforms, Inc. | 0.87% | 26.7 | 22.1 | 7.9 | 0.30% | 0.65% |
| FE | FirstEnergy Corp. | 0.86% | 24.6 | 14.7 | 1.7 | 4.03% | 0.70% |
| MTCH | Match Group, Inc. | 0.85% | 15.2 | 9.7 | 2.8 | 1.86% | 1.12% |
| TRV | The Travelers Companies, Inc. | 0.84% | 10.5 | 10.8 | 1.7 | 1.28% | 1.60% |
| CSCO | Cisco Systems, Inc. | 0.83% | 32.2 | 19.8 | 6.7 | 1.56% | 0.52% |
| L | Loews Corporation | 0.74% | 13.5 | 12.2 | 1.2 | 0.23% | 1.10% |
| RS | Reliance Steel & Aluminum Co. | 0.73% | 23.9 | 16.4 | 1.3 | 1.22% | 0.61% |
| MU | Micron Technology, Inc. | 0.72% | 11.8 | 7.0 | 7.5 | 0.07% | 1.21% |
| LRCX | Lam Research Corporation | 0.70% | 45.8 | 33.7 | 14.2 | 0.50% | 0.31% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About AFLG valuation
Adding up its 215 holdings with company data, AFLG trades at 19.9 times trailing earnings and 15.5 times analysts' forward estimates, with a price-to-book ratio of 4.19 and a dividend yield of 1.34%. Its earnings yield of 5.02% is 0.31 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 32.9% of the fund and earn 29.1% of its combined profit. By sector, Technology is the most expensive at 27.0 times earnings and Financial Services the cheapest at 11.9. Companies that lost money over the past year are 1.0% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: AFLG chart, AFLG performance, AFLG holdings, AFLG dividends.
AFLG valuation FAQ
What is the P/E ratio of AFLG?
Based on its holdings, AFLG has a trailing P/E of 19.9 and a forward P/E of 15.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of AFLG?
The trailing earnings yield is 5.02% (1 ÷ P/E) and the forward earnings yield 6.45%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is AFLG more expensive than the S&P 500?
AFLG trades at 19.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.5 and 19.9.
What is the price-to-book ratio of AFLG?
The holdings of AFLG trade at 4.19 times book value, with a combined return on equity of 21.0%.
Which sector in AFLG has the highest P/E?
Technology has the highest P/E at 27.0 and Financial Services the lowest at 11.9.