First Trust RBA American Industrial… (AIRR) Valuation
AIRR valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 30.8 trailing earnings
- Forward P/E
- 18.6 analyst estimates
- Price / sales
- 1.76
- Price / book
- 3.39
- EV / EBITDA
- 16.3
- Earnings yield
- 3.24% inverse of P/E
- Dividend yield
- 0.83% of the holdings
- Return on equity
- 11.0% combined
- Net margin
- 5.7% combined
- Beta
- 1.18 weighted, vs S&P 500
AIRR valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| AIRR | 30.8 | 18.6 | 1.76 | 3.39 | 0.83% | 11.0% | 5.7% | 11.3% |
| 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.
AIRR valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 87.0% | 38.9 | 20.9 | 1.65 | 4.26 | 0.68% | 11.0% |
| Financial Services | 8.8% | 10.8 | 9.4 | 3.50 | 1.10 | 2.67% | 10.2% |
| Technology | 3.6% | 22.5 | 17.0 | 3.04 | 3.95 | 0.00% | 17.6% |
| Utilities | 0.7% | 54.5 | 18.7 | 1.53 | 10.37 | 0.00% | 19.0% |
AIRR 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 AIRR weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
AIRR largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CHRW | C.H. Robinson Worldwide, Inc. | 3.85% | 26.6 | 21.5 | 1.0 | 1.81% | 4.59% |
| KTOS | Kratos Defense & Security Solutions, Inc. | 3.42% | 237.8 | 45.2 | 5.0 | — | 0.46% |
| RBC | RBC Bearings Incorporated | 3.42% | 49.3 | 36.9 | 8.1 | — | 2.20% |
| KRMN | Karman Holdings Inc. | 3.35% | 119.6 | 41.3 | 7.8 | — | 0.89% |
| DY | Dycom Industries, Inc. | 3.34% | 23.2 | 25.1 | 1.1 | — | 4.58% |
| BWXT | BWX Technologies, Inc. | 3.30% | 35.5 | 27.0 | 3.6 | 0.77% | 2.95% |
| STRL | Sterling Infrastructure, Inc. | 3.22% | 30.6 | 19.6 | 3.8 | — | 3.34% |
| FPS | Forgent Power Solutions, Inc. | 3.18% | 105.6 | 32.6 | 7.1 | — | 0.96% |
| AGX | Argan, Inc. | 3.06% | 27.3 | 16.6 | 4.1 | 0.81% | 3.55% |
| OC | Owens Corning | 2.99% | — | 10.1 | 0.9 | 2.80% | −4.26% |
| NXT | Nextracker Inc. | 2.96% | 20.7 | 18.2 | 3.4 | — | 4.54% |
| HII | Huntington Ingalls Industries, Inc. | 2.89% | 16.2 | 12.6 | 0.8 | 2.03% | 5.66% |
| HRI | Herc Holdings Inc. | 2.78% | 79.5 | 12.2 | 0.8 | 2.30% | 1.11% |
| CLH | Clean Harbors, Inc. | 2.74% | 38.8 | 34.5 | 2.7 | — | 2.24% |
| CNM | Core & Main, Inc. | 2.74% | 17.3 | 17.2 | 1.0 | — | 5.02% |
| SAIA | Saia, Inc. | 2.60% | 32.3 | 41.2 | 2.6 | — | 2.55% |
| ONB | Old National Bancorp | 2.55% | 11.1 | 8.4 | 3.6 | 2.32% | 7.29% |
| WMS | Advanced Drainage Systems, Inc. | 2.28% | 21.8 | 20.8 | 3.0 | 0.62% | 3.31% |
| MLI | Mueller Industries, Inc. | 2.26% | 15.6 | 18.2 | 2.9 | 1.17% | 4.58% |
| SPW0 | SPX TECHNOLOGIES DL 10 | 2.10% | — | — | — | — | — |
| AIT | Applied Industrial Technologies, Inc. | 2.02% | 30.2 | 27.8 | 2.4 | 0.62% | 2.12% |
| OSK | Oshkosh Corporation | 2.01% | 14.5 | 9.4 | 0.7 | 1.80% | 4.39% |
| MSM | MSC Industrial Direct Co., Inc. | 1.94% | 31.5 | 23.5 | 1.9 | 2.73% | 1.95% |
| PRIM | Primoris Services Corporation | 1.93% | 28.6 | 13.1 | 0.5 | 0.44% | 2.15% |
| POWL | Powell Industries, Inc. | 1.91% | 31.6 | 29.3 | 5.2 | 0.22% | 1.91% |
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 AIRR valuation
Adding up its 53 holdings with company data, AIRR trades at 30.8 times trailing earnings and 18.6 times analysts' forward estimates, with a price-to-book ratio of 3.39 and a dividend yield of 0.83%. Its earnings yield of 3.24% is 2.08 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 33.1% of the fund and earn 19.2% of its combined profit. By sector, Utilities is the most expensive at 54.5 times earnings and Financial Services the cheapest at 10.8. Companies that lost money over the past year are 11.3% 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 97.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: AIRR chart, AIRR performance, AIRR holdings, AIRR dividends.
AIRR valuation FAQ
What is the P/E ratio of AIRR?
Based on its holdings, AIRR has a trailing P/E of 30.8 and a forward P/E of 18.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of AIRR?
The trailing earnings yield is 3.24% (1 ÷ P/E) and the forward earnings yield 5.36%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is AIRR more expensive than the S&P 500?
AIRR trades at 30.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.6 and 19.9.
What is the price-to-book ratio of AIRR?
The holdings of AIRR trade at 3.39 times book value, with a combined return on equity of 11.0%.
Which sector in AIRR has the highest P/E?
Utilities has the highest P/E at 54.5 and Financial Services the lowest at 10.8.