Fidelity Cloud Computing ETF (FCLD) Valuation
FCLD valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 40.9 trailing earnings
- Forward P/E
- 21.5 analyst estimates
- Price / sales
- 5.38
- Price / book
- 8.15
- EV / EBITDA
- 25.0
- Earnings yield
- 2.44% inverse of P/E
- Dividend yield
- 0.30% of the holdings
- Return on equity
- 19.9% combined
- Net margin
- 13.1% combined
- Beta
- 1.27 weighted, vs S&P 500
FCLD valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FCLD | 40.9 | 21.5 | 5.38 | 8.15 | 0.30% | 19.9% | 13.1% | 15.5% |
| 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.
FCLD valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 87.7% | 43.2 | 21.0 | 5.30 | 9.07 | 0.18% | 21.0% |
| Real Estate | 5.7% | 72.0 | 57.8 | 9.83 | 3.88 | 2.40% | 5.4% |
| Communication Services | 3.9% | 18.4 | 15.0 | 4.87 | 6.80 | 0.00% | 37.0% |
| Consumer Cyclical | 1.9% | 20.1 | 23.6 | 3.48 | 4.87 | 0.00% | 24.2% |
FCLD 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 FCLD weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FCLD largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 4.75% | 29.5 | 25.1 | 11.8 | 0.74% | 7.10% |
| CRM | Salesforce, Inc. | 4.42% | 22.0 | 14.0 | 4.5 | 0.73% | 8.83% |
| NOW | ServiceNow, Inc. | 4.37% | 88.7 | 27.8 | 10.0 | — | 2.17% |
| DDOG | Datadog, Inc. | 3.99% | 494.2 | 84.7 | 22.4 | — | 0.36% |
| DELL | Dell Technologies Inc. | 3.79% | 26.3 | 21.3 | 1.9 | 0.56% | 6.36% |
| SNOW | Snowflake Inc. | 3.66% | — | 169.5 | 19.9 | — | −1.67% |
| SNDK | Sandisk Corporation | 3.53% | 17.6 | 8.0 | 9.3 | — | 8.81% |
| STX | Seagate Technology Holdings plc | 3.39% | 46.0 | 25.7 | 11.9 | 0.46% | 3.25% |
| WDC | Western Digital Corporation | 3.13% | 12.3 | 22.8 | 9.6 | 0.18% | 11.17% |
| EQIX | Equinix, Inc. | 3.06% | 63.4 | 52.1 | 9.8 | 2.09% | 2.12% |
| APP | AppLovin Corporation | 2.74% | 20.5 | 15.4 | 13.1 | — | 5.89% |
| NTAP | NetApp, Inc. | 2.73% | 28.7 | 21.4 | 5.4 | 1.02% | 4.18% |
| P | Everpure, Inc. | 2.71% | 169.9 | 44.8 | 9.7 | — | 0.70% |
| TEAM | Atlassian Corporation | 2.64% | — | 36.2 | 8.0 | — | −0.07% |
| DLR | Digital Realty Trust, Inc. | 2.63% | 85.4 | 66.2 | 9.8 | 2.77% | 1.36% |
| TWLO | Twilio Inc | 2.57% | 33.8 | 43.7 | 6.7 | — | 3.35% |
| WDAY | Workday, Inc. | 2.47% | 38.9 | 17.7 | 4.5 | — | 2.80% |
| MDB | MongoDB, Inc. | 2.23% | 468.8 | 70.4 | 9.8 | — | 0.21% |
| DOCU | DocuSign, Inc. | 2.11% | 45.5 | 15.1 | 4.2 | — | 2.04% |
| DT | Dynatrace, Inc. | 2.10% | 122.2 | 29.6 | 8.5 | — | 0.76% |
| ZM | Zoom Video Communications, Inc. | 2.04% | 8.7 | 15.1 | 5.5 | — | 10.29% |
| 2317 | Hon Hai Precision Industry Co Ltd | 1.90% | — | — | — | — | — |
| AMZN | Amazon.com, Inc. | 1.89% | 20.1 | 23.6 | 3.5 | — | 4.15% |
| NTNX | Nutanix, Inc. | 1.81% | 12.9 | 29.9 | 6.3 | — | 6.16% |
| HUBS | HubSpot, Inc. | 1.81% | 82.5 | 13.9 | 3.4 | — | 0.96% |
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 FCLD valuation
Adding up its 43 holdings with company data, FCLD trades at 40.9 times trailing earnings and 21.5 times analysts' forward estimates, with a price-to-book ratio of 8.15 and a dividend yield of 0.30%. Its earnings yield of 2.44% is 2.89 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 38.1% of the fund and earn 48.5% of its combined profit. By sector, Real Estate is the most expensive at 72.0 times earnings and Communication Services the cheapest at 18.4. Companies that lost money over the past year are 15.5% 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 93.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FCLD chart, FCLD performance, FCLD holdings, FCLD dividends.
FCLD valuation FAQ
What is the P/E ratio of FCLD?
Based on its holdings, FCLD has a trailing P/E of 40.9 and a forward P/E of 21.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FCLD?
The trailing earnings yield is 2.44% (1 ÷ P/E) and the forward earnings yield 4.64%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FCLD more expensive than the S&P 500?
FCLD trades at 40.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 21.5 and 19.9.
What is the price-to-book ratio of FCLD?
The holdings of FCLD trade at 8.15 times book value, with a combined return on equity of 19.9%.
Which sector in FCLD has the highest P/E?
Real Estate has the highest P/E at 72.0 and Communication Services the lowest at 18.4.