Fidelity MSCI Communication Services ETF (FCOM) Valuation
FCOM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.7 trailing earnings
- Forward P/E
- 16.2 analyst estimates
- Price / sales
- 2.77
- Price / book
- 3.40
- EV / EBITDA
- 12.2
- Earnings yield
- 4.41% inverse of P/E
- Dividend yield
- 1.08% of the holdings
- Return on equity
- 15.0% combined
- Net margin
- 12.2% combined
- Beta
- 1.12 weighted, vs S&P 500
FCOM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FCOM | 22.7 | 16.2 | 2.77 | 3.40 | 1.08% | 15.0% | 12.2% | 12.3% |
| 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.
FCOM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Communication Services | 95.8% | 21.7 | 15.7 | 2.71 | 3.33 | 1.12% | 15.3% |
| Industrials | 3.1% | n/m | 200.0 | 83.53 | 15.37 | 0.00% | −6.8% |
| Technology | 0.2% | n/m | 7.5 | 1.52 | 2.90 | 0.00% | −42.9% |
| Services | 0.1% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
| Consumer Cyclical | 0.1% | 93.2 | 6.8 | 0.60 | 1.42 | 0.00% | 1.5% |
| Real Estate | 0.0% | 3.6 | 11.9 | 0.38 | 13.77 | 0.00% | 383.7% |
FCOM 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 FCOM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FCOM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| META | Meta Platforms, Inc. | 24.75% | 26.7 | 22.1 | 7.9 | 0.30% | 21.20% |
| GOOGL | Alphabet Inc. | 14.44% | 17.1 | 22.8 | 9.3 | 0.26% | 19.35% |
| GOOG | Alphabet Inc. | 7.92% | 16.9 | 21.8 | 9.2 | 0.26% | 10.72% |
| DIS | The Walt Disney Company | 4.83% | 22.8 | 13.8 | 1.9 | 1.36% | 4.85% |
| VZ | Verizon Communications Inc. | 4.21% | 11.7 | 8.7 | 1.3 | 6.32% | 8.26% |
| T | AT&T Inc. | 4.09% | 7.7 | 9.9 | 1.3 | 4.74% | 12.11% |
| NFLX | Netflix, Inc. | 4.09% | 22.2 | 18.7 | 6.1 | — | 4.22% |
| SPCX | Space Exploration Technologies Corp. | 3.07% | — | 200.0 | 83.5 | — | −0.31% |
| CMCSA | Comcast Corporation | 2.74% | 7.1 | 5.9 | 0.6 | 6.03% | 8.89% |
| TMUS | T-Mobile US, Inc. | 2.72% | 16.6 | 11.7 | 1.9 | 2.94% | 3.75% |
| APP | AppLovin Corporation | 2.28% | 20.5 | 15.4 | 13.1 | — | 2.55% |
| RBLX | Roblox Corporation | 2.02% | — | 192.3 | 6.2 | — | −1.24% |
| TTWO | Take-Two Interactive Software, Inc. | 1.95% | — | 28.2 | 5.7 | — | −0.38% |
| LYV | Live Nation Entertainment, Inc. | 1.82% | — | 119.0 | 1.5 | — | −0.27% |
| OMC | Omnicom Group Inc. | 1.50% | 212.0 | 7.4 | 1.0 | 3.97% | 0.16% |
| ROKU | Roku, Inc | 1.34% | 65.8 | 39.1 | 4.4 | — | 0.47% |
| FWONK | Liberty Media Corporation - Formula One Group | 1.27% | 110.7 | 48.1 | 5.7 | — | 0.26% |
| RDDT | Reddit, Inc. | 1.15% | 36.3 | 23.2 | 10.8 | — | 0.73% |
| FOXA | Fox Corporation | 0.87% | 16.7 | 11.1 | 1.6 | 0.90% | 1.19% |
| CHTR | Charter Communications, Inc. | 0.80% | 2.9 | 2.5 | 0.3 | — | 6.38% |
| NWSA | News Corporation | 0.74% | 29.2 | 22.0 | 1.8 | 0.67% | 0.58% |
| TKO | TKO Group Holdings, Inc. | 0.73% | 61.4 | 48.8 | 6.3 | 1.80% | 0.27% |
| ECHO | EchoStar Corporation | 0.72% | — | 4.7 | 1.7 | — | −2.62% |
| NPA | New Providence Acquisition Corp | 0.64% | — | — | — | — | — |
| MTCH | Match Group, Inc. | 0.64% | 15.2 | 9.7 | 2.8 | 1.86% | 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 FCOM valuation
Adding up its 79 holdings with company data, FCOM trades at 22.7 times trailing earnings and 16.2 times analysts' forward estimates, with a price-to-book ratio of 3.40 and a dividend yield of 1.08%. Its earnings yield of 4.41% is 0.92 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 72.9% of the fund and earn 93.0% of its combined profit. By sector, Consumer Cyclical is the most expensive at 93.2 times earnings and Real Estate the cheapest at 3.6. Companies that lost money over the past year are 12.3% 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 98.8% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FCOM chart, FCOM performance, FCOM holdings, FCOM dividends.
FCOM valuation FAQ
What is the P/E ratio of FCOM?
Based on its holdings, FCOM has a trailing P/E of 22.7 and a forward P/E of 16.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FCOM?
The trailing earnings yield is 4.41% (1 ÷ P/E) and the forward earnings yield 6.19%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FCOM more expensive than the S&P 500?
FCOM trades at 22.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.2 and 19.9.
What is the price-to-book ratio of FCOM?
The holdings of FCOM trade at 3.40 times book value, with a combined return on equity of 15.0%.
Which sector in FCOM has the highest P/E?
Consumer Cyclical has the highest P/E at 93.2 and Real Estate the lowest at 3.6.