Global X S&P 500 U.S. Market Leaders TOP 50 ETF (FLAG) Valuation
FLAG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.7 trailing earnings
- Forward P/E
- 17.1 analyst estimates
- Price / sales
- 2.07
- Price / book
- 7.05
- EV / EBITDA
- 14.9
- Earnings yield
- 4.22% inverse of P/E
- Dividend yield
- 1.76% of the holdings
- Return on equity
- 29.8% combined
- Net margin
- 8.7% combined
- Beta
- 0.85 weighted, vs S&P 500
FLAG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FLAG | 23.7 | 17.1 | 2.07 | 7.05 | 1.76% | 29.8% | 8.7% | 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.
FLAG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 27.2% | 26.9 | 19.7 | 7.63 | 10.39 | 0.95% | 38.6% |
| Healthcare | 26.4% | 38.1 | 17.4 | 1.21 | 9.37 | 1.62% | 24.6% |
| Consumer Cyclical | 20.8% | 22.7 | 21.1 | 2.47 | 12.57 | 1.43% | 55.5% |
| Consumer Defensive | 10.2% | 22.3 | 18.5 | 1.77 | 10.32 | 3.28% | 46.2% |
| Financial Services | 5.8% | 11.4 | 9.7 | 1.90 | 1.81 | 1.04% | 15.9% |
| Communication Services | 5.2% | 13.5 | 10.1 | 1.86 | 2.63 | 4.35% | 19.6% |
| Industrials | 3.9% | 19.2 | 14.5 | 1.38 | 6.96 | 3.76% | 36.2% |
| Energy | 0.7% | 12.7 | 14.4 | 3.03 | 1.77 | 1.67% | 13.9% |
FLAG 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 FLAG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FLAG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 5.55% | 29.5 | 25.1 | 11.8 | 0.74% | 4.45% |
| ABBV | AbbVie Inc. | 5.52% | 80.6 | 16.4 | 7.8 | 2.42% | 1.62% |
| MRK | Merck & Co., Inc. | 5.19% | 115.8 | 15.3 | 5.4 | 2.33% | 1.06% |
| LLY | Eli Lilly and Company | 4.87% | 42.2 | 24.4 | 14.1 | 0.55% | 2.73% |
| AMZN | Amazon.com, Inc. | 4.53% | 20.1 | 23.6 | 3.5 | — | 5.33% |
| NVDA | NVIDIA Corporation | 4.45% | 27.1 | 24.9 | 17.1 | 0.47% | 3.89% |
| HD | The Home Depot, Inc. | 4.30% | 21.5 | 19.8 | 1.8 | 3.01% | 4.72% |
| UNH | UnitedHealth Group Incorporated | 4.26% | 25.8 | 16.6 | 0.8 | 2.31% | 3.90% |
| WMT | Walmart Inc. | 4.26% | 43.0 | 38.0 | 1.3 | 0.83% | 2.34% |
| CSCO | Cisco Systems, Inc. | 3.84% | 32.2 | 19.8 | 6.7 | 1.56% | 2.82% |
| ANET | Arista Networks, Inc. | 3.63% | 55.8 | 39.2 | 21.2 | — | 1.54% |
| VZ | Verizon Communications Inc. | 3.56% | 11.7 | 8.7 | 1.3 | 6.32% | 7.20% |
| PEP | PepsiCo, Inc. | 3.34% | 16.5 | 14.9 | 1.8 | 4.50% | 4.77% |
| TJX | The TJX Companies, Inc. | 2.73% | 27.3 | 24.9 | 2.6 | 1.30% | 2.37% |
| COF | Capital One Financial Corporation | 2.31% | 13.0 | 8.5 | 2.6 | 1.59% | 4.22% |
| INTU | Intuit Inc. | 2.25% | 19.8 | 12.7 | 4.1 | 1.70% | 2.70% |
| ADBE | Adobe Inc. | 2.20% | 13.7 | 8.7 | 3.7 | — | 3.79% |
| PGR | The Progressive Corporation | 2.19% | 11.0 | 12.7 | 1.4 | 0.18% | 4.71% |
| ADP | Automatic Data Processing, Inc. | 2.11% | 26.4 | 22.0 | 5.2 | 2.35% | 1.89% |
| LMT | Lockheed Martin Corporation | 2.04% | 20.3 | 16.2 | 1.7 | 2.61% | 2.36% |
| MCK | McKesson Corporation | 2.03% | 26.9 | 19.7 | 0.3 | 0.37% | 1.78% |
| MO | Altria Group, Inc. | 2.03% | 15.8 | 11.9 | 6.1 | 5.91% | 3.04% |
| SBUX | Starbucks Corporation | 1.94% | 56.4 | 30.9 | 2.9 | 2.58% | 0.81% |
| LOW | Lowe's Companies, Inc. | 1.88% | 16.7 | 15.6 | 1.2 | 2.53% | 2.66% |
| APP | AppLovin Corporation | 1.61% | 20.5 | 15.4 | 13.1 | — | 1.86% |
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 FLAG valuation
Adding up its 50 holdings with company data, FLAG trades at 23.7 times trailing earnings and 17.1 times analysts' forward estimates, with a price-to-book ratio of 7.05 and a dividend yield of 1.76%. Its earnings yield of 4.22% is 1.11 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 46.8% of the fund and earn 32.8% of its combined profit. By sector, Healthcare is the most expensive at 38.1 times earnings and Financial Services the cheapest at 11.4. 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FLAG chart, FLAG performance, FLAG holdings, FLAG dividends.
FLAG valuation FAQ
What is the P/E ratio of FLAG?
Based on its holdings, FLAG has a trailing P/E of 23.7 and a forward P/E of 17.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FLAG?
The trailing earnings yield is 4.22% (1 ÷ P/E) and the forward earnings yield 5.85%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FLAG more expensive than the S&P 500?
FLAG trades at 23.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 17.1 and 19.9.
What is the price-to-book ratio of FLAG?
The holdings of FLAG trade at 7.05 times book value, with a combined return on equity of 29.8%.
Which sector in FLAG has the highest P/E?
Healthcare has the highest P/E at 38.1 and Financial Services the lowest at 11.4.