First Trust Natural Gas ETF (FCG) Valuation
FCG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 16.0 trailing earnings
- Forward P/E
- 8.9 analyst estimates
- Price / sales
- 2.21
- Price / book
- 1.43
- EV / EBITDA
- 5.2
- Earnings yield
- 6.24% inverse of P/E
- Dividend yield
- 2.77% of the holdings
- Return on equity
- 9.0% combined
- Net margin
- 13.8% combined
- Beta
- 0.56 weighted, vs S&P 500
FCG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FCG | 16.0 | 8.9 | 2.21 | 1.43 | 2.77% | 9.0% | 13.8% | 7.1% |
| 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.
FCG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 97.6% | 15.2 | 8.9 | 2.19 | 1.43 | 2.80% | 9.4% |
| Technology | 0.8% | n/m | — | 417.00 | 5.37 | 0.00% | −176.3% |
FCG 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 FCG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FCG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EOG | EOG Resources, Inc. | 4.75% | 12.3 | 10.1 | 3.1 | 2.58% | 6.95% |
| COP | ConocoPhillips | 4.73% | 19.4 | 12.7 | 2.7 | 2.29% | 4.38% |
| OXY | Occidental Petroleum Corporation | 4.40% | 17.7 | 14.6 | 2.6 | 1.80% | 4.46% |
| DVN | Devon Energy Corporation | 4.34% | 11.1 | 9.3 | 3.0 | 2.52% | 7.06% |
| APA | APA Corporation | 4.16% | 10.4 | 9.4 | 2.0 | 2.03% | 7.20% |
| EQT | EQT Corporation | 4.02% | 12.6 | 14.1 | 3.7 | 1.25% | 5.74% |
| FANG | Diamondback Energy, Inc. | 3.99% | 38.8 | 10.0 | 3.5 | 2.16% | 1.85% |
| WES | Western Midstream Partners, LP | 3.95% | 14.1 | 11.3 | 4.3 | 8.34% | 5.03% |
| YZ8 | Permian Resources Corporation | 3.89% | — | — | — | — | — |
| OVV | Ovintiv Inc. | 3.71% | 19.3 | 9.0 | 2.0 | 1.73% | 3.45% |
| EXE | Expand Energy Corporation | 3.50% | 8.1 | 9.6 | 1.8 | 2.46% | 7.81% |
| RRC | Range Resources Corporation | 3.38% | 11.9 | 10.0 | 3.1 | 0.93% | 5.08% |
| AR | Antero Resources Corporation | 3.29% | 11.1 | 9.0 | 2.1 | — | 5.32% |
| SM | SM Energy Company | 3.25% | 7.0 | 4.4 | 1.9 | 2.23% | 8.34% |
| HESM | Hess Midstream LP | 3.20% | 10.6 | 9.9 | 3.9 | 10.07% | 5.43% |
| CHRD | Chord Energy Corporation | 3.19% | 10.4 | — | 1.4 | 3.36% | 5.51% |
| WDS | Woodside Energy Group Ltd | 2.88% | 14.8 | 11.8 | 3.1 | 4.91% | 3.50% |
| BTE | Baytex Energy Corp | 2.67% | — | — | — | — | — |
| NFG | National Fuel Gas Company | 2.61% | 11.1 | 9.8 | 3.0 | 2.78% | 4.21% |
| MGY | Magnolia Oil & Gas Corporation | 2.56% | 11.1 | 9.2 | 4.7 | 2.60% | 4.13% |
| MTDR | Matador Resources Company | 2.55% | 9.9 | 5.5 | 1.9 | 2.61% | 4.64% |
| MUR | Murphy Oil Corporation | 2.52% | 20.7 | 13.4 | 2.0 | 3.35% | 2.19% |
| CNX | CNX Resources Corporation | 2.32% | 5.8 | 8.4 | 2.5 | — | 7.16% |
| NOG | Northern Oil and Gas, Inc. | 2.14% | — | 4.6 | 1.4 | 6.63% | −6.86% |
| CRGY | Crescent Energy Company | 2.00% | 125.2 | 6.3 | 1.3 | 3.49% | 0.29% |
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 FCG valuation
Adding up its 36 holdings with company data, FCG trades at 16.0 times trailing earnings and 8.9 times analysts' forward estimates, with a price-to-book ratio of 1.43 and a dividend yield of 2.77%. Its earnings yield of 6.24% is 0.91 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 42.0% of the fund and earn 53.9% of its combined profit. Companies that lost money over the past year are 7.1% 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 90.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FCG chart, FCG performance, FCG holdings, FCG dividends.
FCG valuation FAQ
What is the P/E ratio of FCG?
Based on its holdings, FCG has a trailing P/E of 16.0 and a forward P/E of 8.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FCG?
The trailing earnings yield is 6.24% (1 ÷ P/E) and the forward earnings yield 11.20%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FCG more expensive than the S&P 500?
FCG trades at 16.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 8.9 and 19.9.
What is the price-to-book ratio of FCG?
The holdings of FCG trade at 1.43 times book value, with a combined return on equity of 9.0%.