First Trust Water ETF (FIW) Valuation
FIW valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.5 trailing earnings
- Forward P/E
- 18.2 analyst estimates
- Price / sales
- 2.23
- Price / book
- 3.93
- EV / EBITDA
- 15.2
- Earnings yield
- 4.08% inverse of P/E
- Dividend yield
- 1.14% of the holdings
- Return on equity
- 16.0% combined
- Net margin
- 9.1% combined
- Beta
- 0.99 weighted, vs S&P 500
FIW valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FIW | 24.5 | 18.2 | 2.23 | 3.93 | 1.14% | 16.0% | 9.1% | 0.0% |
| 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.
FIW valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 56.9% | 22.1 | 16.8 | 1.82 | 4.28 | 1.24% | 19.4% |
| Healthcare | 12.8% | 47.7 | 26.1 | 8.23 | 5.14 | 0.20% | 10.8% |
| Technology | 11.2% | 21.3 | 17.4 | 3.76 | 3.23 | 0.83% | 15.1% |
| Utilities | 10.8% | 20.3 | 17.3 | 1.77 | 2.18 | 2.25% | 10.7% |
| Basic Materials | 5.6% | 37.5 | 29.6 | 3.91 | 6.68 | 0.91% | 17.8% |
| Consumer Defensive | 1.7% | 65.7 | 13.3 | 1.06 | 2.40 | 2.43% | 3.6% |
FIW 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 FIW weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FIW largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WAT | Waters Corporation | 4.45% | 110.6 | 24.8 | 9.2 | — | 1.05% |
| A | Agilent Technologies, Inc. | 4.44% | 34.1 | 23.9 | 6.6 | 0.59% | 3.38% |
| ECL | Ecolab Inc. | 4.26% | 38.8 | 29.7 | 4.8 | 1.01% | 2.86% |
| VLTO | Veralto Corporation | 4.18% | 25.8 | 20.0 | 4.3 | 0.51% | 4.21% |
| FERG | Ferguson plc | 4.02% | 22.8 | 17.6 | 1.4 | 1.54% | 4.58% |
| XYL | Xylem Inc. | 3.98% | 24.8 | 17.4 | 2.7 | 1.65% | 4.17% |
| IDXX | IDEXX Laboratories, Inc. | 3.91% | 39.8 | 31.4 | 9.7 | — | 2.55% |
| J | Jacobs Engineering Group Inc. | 3.90% | 46.9 | 16.9 | 1.2 | 1.02% | 2.16% |
| AWK | American Water Works Company, Inc. | 3.88% | 23.4 | 20.0 | 5.1 | 2.65% | 4.31% |
| ROP | Roper Technologies, Inc. | 3.75% | 15.9 | 15.0 | 4.6 | 0.95% | 6.10% |
| BSY | Bentley Systems, Incorporated | 3.68% | 38.9 | 20.0 | 6.7 | 0.79% | 2.46% |
| MAS | Masco Corporation | 3.65% | 16.8 | 14.7 | 1.9 | 1.76% | 5.65% |
| IEX | IDEX Corporation | 3.61% | 33.9 | 24.0 | 4.8 | 1.24% | 2.77% |
| WMS | Advanced Drainage Systems, Inc. | 3.50% | 21.8 | 20.8 | 3.0 | 0.62% | 4.16% |
| MLI | Mueller Industries, Inc. | 3.09% | 15.6 | 18.2 | 2.9 | 1.17% | 5.14% |
| TTEK | Tetra Tech, Inc. | 3.04% | 20.9 | 19.9 | 2.0 | 0.83% | 3.77% |
| WTS | Watts Water Technologies, Inc. | 3.03% | 31.2 | 25.3 | 4.4 | 0.64% | 2.53% |
| VMI | Valmont Industries, Inc. | 2.82% | 17.4 | 18.3 | 2.0 | 0.69% | 4.22% |
| ACM | AECOM | 2.57% | 20.8 | 9.6 | 0.5 | 2.10% | 3.21% |
| PNR | Pentair plc | 2.57% | 13.8 | 10.7 | 2.1 | 2.02% | 4.84% |
| FELE | Franklin Electric Co., Inc. | 2.06% | 28.9 | 18.5 | 2.0 | 1.12% | 1.86% |
| BMI | Badger Meter, Inc. | 2.02% | 29.6 | 26.2 | 4.2 | 1.39% | 1.77% |
| AOS | A. O. Smith Corporation | 2.01% | 16.5 | 13.8 | 2.1 | 2.57% | 3.17% |
| ZWS | Zurn Elkay Water Solutions Corporation | 1.98% | 29.2 | 22.9 | 4.4 | 0.94% | 1.76% |
| CNM | Core & Main, Inc. | 1.96% | 17.3 | 17.2 | 1.0 | — | 2.95% |
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 FIW valuation
Adding up its 33 holdings with company data, FIW trades at 24.5 times trailing earnings and 18.2 times analysts' forward estimates, with a price-to-book ratio of 3.93 and a dividend yield of 1.14%. Its earnings yield of 4.08% is 1.24 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 40.8% of the fund and earn 35.4% of its combined profit. By sector, Consumer Defensive is the most expensive at 65.7 times earnings and Utilities the cheapest at 20.3. Companies that lost money over the past year are 0.0% 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 95.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FIW chart, FIW performance, FIW holdings, FIW dividends.
FIW valuation FAQ
What is the P/E ratio of FIW?
Based on its holdings, FIW has a trailing P/E of 24.5 and a forward P/E of 18.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FIW?
The trailing earnings yield is 4.08% (1 ÷ P/E) and the forward earnings yield 5.49%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FIW more expensive than the S&P 500?
FIW trades at 24.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.2 and 19.9.
What is the price-to-book ratio of FIW?
The holdings of FIW trade at 3.93 times book value, with a combined return on equity of 16.0%.
Which sector in FIW has the highest P/E?
Consumer Defensive has the highest P/E at 65.7 and Utilities the lowest at 20.3.