iShares ESG Aware MSCI USA Small-Cap ETF (ESML) Valuation
ESML valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 46.1 trailing earnings
- Forward P/E
- 14.3 analyst estimates
- Price / sales
- 1.38
- Price / book
- 2.42
- EV / EBITDA
- 12.3
- Earnings yield
- 2.17% inverse of P/E
- Dividend yield
- 1.35% of the holdings
- Return on equity
- 5.3% combined
- Net margin
- 3.0% combined
- Beta
- 1.09 weighted, vs S&P 500
ESML valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ESML | 46.1 | 14.3 | 1.38 | 2.42 | 1.35% | 5.3% | 3.0% | 19.9% |
| 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.
ESML valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 17.3% | 55.7 | 16.9 | 2.09 | 4.42 | 0.18% | 7.9% |
| Healthcare | 16.0% | n/m | 17.1 | 2.49 | 3.96 | 0.12% | −6.1% |
| Industrials | 15.6% | 36.9 | 16.3 | 1.30 | 2.89 | 0.96% | 7.8% |
| Financial Services | 14.5% | 18.2 | 10.2 | 1.58 | 1.60 | 2.36% | 8.8% |
| Consumer Cyclical | 11.3% | 53.1 | 12.2 | 0.71 | 2.50 | 1.17% | 4.7% |
| Real Estate | 6.7% | 38.2 | 22.9 | 2.45 | 1.59 | 4.74% | 4.2% |
| Energy | 5.3% | 17.2 | 11.2 | 0.89 | 1.62 | 2.14% | 9.4% |
| Consumer Defensive | 4.1% | 143.2 | 13.2 | 0.69 | 2.11 | 2.06% | 1.5% |
| Basic Materials | 3.7% | n/m | 14.3 | 1.09 | 2.15 | 0.95% | −3.6% |
| Utilities | 2.9% | 20.4 | 15.7 | 2.36 | 1.58 | 3.34% | 7.8% |
| Communication Services | 2.2% | 55.8 | 13.5 | 1.61 | 2.20 | 0.77% | 3.9% |
ESML 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 ESML weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ESML largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MRNA | Moderna, Inc. | 1.15% | — | 23.0 | 39.1 | — | −1.98% |
| AIZ | Assurant, Inc. | 0.71% | 13.6 | 10.9 | 1.0 | 1.24% | 2.46% |
| USFD | US Foods Holding Corp. | 0.60% | 31.4 | 17.0 | 0.5 | — | 0.89% |
| OVV | Ovintiv Inc. | 0.52% | 19.3 | 9.0 | 2.0 | 1.73% | 1.26% |
| DT | Dynatrace, Inc. | 0.40% | 122.2 | 29.6 | 8.5 | — | 0.15% |
| OGS | ONE Gas, Inc. | 0.40% | 16.3 | 17.4 | 2.1 | 3.60% | 1.14% |
| RVTY | Revvity, Inc. | 0.38% | 73.0 | 24.2 | 5.8 | 0.18% | 0.25% |
| FDS | FactSet Research Systems Inc. | 0.36% | 20.7 | 13.9 | 4.3 | 1.54% | 0.82% |
| EQH | Equitable Holdings, Inc. | 0.36% | — | 5.8 | 1.4 | 2.14% | −1.07% |
| NTNX | Nutanix, Inc. | 0.36% | 12.9 | 29.9 | 6.3 | — | 1.29% |
| TRMB | Trimble Inc. | 0.35% | — | 14.0 | 3.7 | — | −0.13% |
| FBP | First BanCorp. | 0.34% | 11.5 | 20.7 | 4.4 | 2.92% | 1.40% |
| RGLD | Royal Gold, Inc. | 0.34% | 26.4 | 24.2 | 13.1 | 0.80% | 0.61% |
| UNM | Unum Group | 0.34% | 21.5 | 8.5 | 1.1 | 2.19% | 0.75% |
| GH | Guardant Health, Inc. | 0.34% | — | — | 18.0 | — | −0.35% |
| IT | Gartner, Inc. | 0.34% | 18.6 | 11.3 | 2.0 | — | 0.85% |
| ZWS | Zurn Elkay Water Solutions Corporation | 0.33% | 29.2 | 22.9 | 4.4 | 0.94% | 0.53% |
| SWX | Southwest Gas Holdings, Inc. | 0.32% | 21.9 | 17.4 | 3.6 | 2.95% | 0.69% |
| CRL | Charles River Laboratories International, Inc. | 0.32% | — | 22.4 | 3.6 | — | −0.24% |
| TXNM | TXNM Energy, Inc. | 0.32% | 33.6 | 18.0 | 2.9 | 2.89% | 0.45% |
| RGA | Reinsurance Group of America, Incorporated | 0.32% | 11.7 | 7.7 | 0.7 | 1.47% | 1.27% |
| JLL | Jones Lang LaSalle Incorporated | 0.32% | 14.7 | 10.4 | 0.5 | — | 1.02% |
| DOCU | DocuSign, Inc. | 0.32% | 45.5 | 15.1 | 4.2 | — | 0.33% |
| UBSI | United Bankshares, Inc. | 0.31% | 12.7 | 13.6 | 5.1 | 3.26% | 1.14% |
| DINO | HF Sinclair Corporation | 0.30% | 11.9 | 10.0 | 0.7 | 1.68% | 1.19% |
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 ESML valuation
Adding up its 880 holdings with company data, ESML trades at 46.1 times trailing earnings and 14.3 times analysts' forward estimates, with a price-to-book ratio of 2.42 and a dividend yield of 1.35%. Its earnings yield of 2.17% is 3.16 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 5.2% of the fund and earn 5.2% of its combined profit. By sector, Consumer Defensive is the most expensive at 143.2 times earnings and Energy the cheapest at 17.2. Companies that lost money over the past year are 19.9% 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: ESML chart, ESML performance, ESML holdings, ESML dividends.
ESML valuation FAQ
What is the P/E ratio of ESML?
Based on its holdings, ESML has a trailing P/E of 46.1 and a forward P/E of 14.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ESML?
The trailing earnings yield is 2.17% (1 ÷ P/E) and the forward earnings yield 7.01%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ESML more expensive than the S&P 500?
ESML trades at 46.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.3 and 19.9.
What is the price-to-book ratio of ESML?
The holdings of ESML trade at 2.42 times book value, with a combined return on equity of 5.3%.
Which sector in ESML has the highest P/E?
Consumer Defensive has the highest P/E at 143.2 and Energy the lowest at 17.2.