Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) Valuation
COWG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 30.4 trailing earnings
- Forward P/E
- 19.0 analyst estimates
- Price / sales
- 6.31
- Price / book
- 7.10
- EV / EBITDA
- 20.3
- Earnings yield
- 3.29% inverse of P/E
- Dividend yield
- 0.56% of the holdings
- Return on equity
- 23.3% combined
- Net margin
- 20.8% combined
- Beta
- 1.14 weighted, vs S&P 500
COWG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| COWG | 30.4 | 19.0 | 6.31 | 7.10 | 0.56% | 23.3% | 20.8% | 3.5% |
| 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.
COWG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 67.1% | 34.5 | 21.5 | 8.13 | 9.24 | 0.27% | 26.8% |
| Healthcare | 13.0% | 28.6 | 17.1 | 7.03 | 7.41 | 0.38% | 25.9% |
| Communication Services | 6.4% | 21.1 | 13.2 | 2.50 | 2.97 | 1.44% | 14.1% |
| Consumer Cyclical | 4.7% | 23.2 | 14.3 | 3.41 | 10.51 | 0.54% | 45.3% |
| Energy | 2.7% | 30.4 | 13.9 | 5.60 | 1.93 | 2.91% | 6.3% |
| Industrials | 1.9% | 18.6 | 15.0 | 3.00 | 3.97 | 1.16% | 21.4% |
| Consumer Defensive | 1.7% | 23.0 | 18.0 | 7.21 | 20.40 | 3.63% | 88.6% |
| Basic Materials | 1.5% | 17.0 | 14.9 | 5.67 | 4.59 | 1.79% | 26.9% |
| Utilities | 0.3% | 38.9 | 39.4 | 4.69 | 3.40 | 6.20% | 8.7% |
COWG 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 COWG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
COWG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| OKTA | Okta, Inc. | 3.69% | 112.8 | 54.3 | 10.7 | — | 1.00% |
| CRWD | CrowdStrike Holdings, Inc. | 3.52% | — | 208.3 | 43.1 | — | 0.03% |
| DDOG | Datadog, Inc. | 3.33% | 494.2 | 84.7 | 22.4 | — | 0.21% |
| PANW | Palo Alto Networks, Inc. | 3.26% | 855.0 | 94.3 | 24.4 | — | 0.12% |
| FTNT | Fortinet, Inc. | 3.16% | 59.8 | 45.0 | 16.5 | — | 1.62% |
| U | Unity Software Inc. | 3.00% | — | 28.7 | 8.8 | — | −3.09% |
| MU | Micron Technology, Inc. | 2.60% | 11.8 | 7.0 | 7.5 | 0.07% | 6.72% |
| PAYC | Paycom Software, Inc. | 2.58% | 26.6 | 16.7 | 5.3 | 0.60% | 2.96% |
| CRDO | Credo Technology Group Holding Ltd | 2.35% | 60.2 | 30.9 | 20.0 | — | 1.19% |
| IRDM | Iridium Communications Inc | 2.20% | 49.7 | 24.5 | 5.2 | 1.37% | 1.36% |
| SNDK | Sandisk Corporation | 2.15% | 17.6 | 8.0 | 9.3 | — | 3.73% |
| NTNX | Nutanix, Inc. | 2.15% | 12.9 | 29.9 | 6.3 | — | 5.07% |
| VEEV | Veeva Systems Inc. | 1.96% | 50.9 | 30.2 | 14.5 | — | 1.18% |
| MANH | Manhattan Associates, Inc. | 1.94% | 63.8 | 40.3 | 11.5 | — | 0.93% |
| DT | Dynatrace, Inc. | 1.84% | 122.2 | 29.6 | 8.5 | — | 0.46% |
| HALO | Halozyme Therapeutics, Inc. | 1.76% | 35.6 | 11.5 | 8.3 | — | 1.51% |
| FFIV | F5, Inc. | 1.74% | 35.2 | 24.6 | 7.6 | — | 1.51% |
| DOCU | DocuSign, Inc. | 1.70% | 45.5 | 15.1 | 4.2 | — | 1.14% |
| WDAY | Workday, Inc. | 1.47% | 38.9 | 17.7 | 4.5 | — | 1.16% |
| EXPE | Expedia Group, Inc. | 1.42% | 18.0 | 11.3 | 2.2 | 0.66% | 2.40% |
| DBX | Dropbox, Inc. | 1.37% | 19.7 | 10.8 | 3.1 | — | 2.14% |
| NOW | ServiceNow, Inc. | 1.35% | 88.7 | 27.8 | 10.0 | — | 0.47% |
| PLTR | Palantir Technologies Inc. | 1.34% | 160.4 | 85.5 | 72.6 | — | 0.26% |
| ANET | Arista Networks, Inc. | 1.27% | 55.8 | 39.2 | 21.2 | — | 0.69% |
| DUOL | Duolingo, Inc. | 1.24% | 16.8 | 19.0 | 5.8 | — | 2.25% |
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 COWG valuation
Adding up its 99 holdings with company data, COWG trades at 30.4 times trailing earnings and 19.0 times analysts' forward estimates, with a price-to-book ratio of 7.10 and a dividend yield of 0.56%. Its earnings yield of 3.29% is 2.04 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 29.7% of the fund and earn 12.1% of its combined profit. By sector, Utilities is the most expensive at 38.9 times earnings and Basic Materials the cheapest at 17.0. Companies that lost money over the past year are 3.5% 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 99.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: COWG chart, COWG performance, COWG holdings, COWG dividends.
COWG valuation FAQ
What is the P/E ratio of COWG?
Based on its holdings, COWG has a trailing P/E of 30.4 and a forward P/E of 19.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of COWG?
The trailing earnings yield is 3.29% (1 ÷ P/E) and the forward earnings yield 5.26%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is COWG more expensive than the S&P 500?
COWG trades at 30.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.0 and 19.9.
What is the price-to-book ratio of COWG?
The holdings of COWG trade at 7.10 times book value, with a combined return on equity of 23.3%.
Which sector in COWG has the highest P/E?
Utilities has the highest P/E at 38.9 and Basic Materials the lowest at 17.0.