Franklin LibertyQ U.S. Equity ETF (FLQL) Valuation

Cboe BZX: FLQLP/E, earnings yield and other ratios of the holdings combined.

FLQL valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 23.0
Forward P/E: 18.2
Price / sales: 3.49
Price / book: 5.39
EV / EBITDA: 16.5
Earnings yield: 4.35%
Dividend yield: 1.34%
Return on equity: 23.4%
Net margin: 15.2%
Beta: 1.13

FLQL valuation vs other stock ETFs

P/E (TTM)Forward P/E

FLQL valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
FLQL	23.0	18.2	3.49	5.39	1.34%	23.4%	15.2%	0.3%
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.

FLQL valuation by sector

P/E (TTM)Forward P/E

FLQL valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	39.8%	30.3	23.3	6.84	12.30	0.62%	40.5%
Financial Services	11.8%	15.5	14.3	3.14	2.56	1.58%	16.5%
Healthcare	9.7%	33.1	15.3	3.95	6.39	2.23%	19.3%
Communication Services	9.2%	17.1	18.0	4.61	4.45	1.13%	26.0%
Consumer Cyclical	8.7%	19.8	16.9	1.57	4.57	0.69%	23.1%
Industrials	7.5%	26.2	19.8	2.14	7.17	1.68%	27.4%
Consumer Defensive	4.6%	23.4	18.3	2.81	10.28	3.07%	43.9%
Utilities	2.4%	16.0	15.0	2.72	2.04	3.30%	12.7%
Energy	2.4%	14.6	8.8	1.10	2.56	1.57%	17.5%
Basic Materials	2.1%	15.7	12.8	2.89	3.81	1.67%	24.3%
Real Estate	1.8%	22.5	23.1	6.51	1.65	5.85%	7.4%

FLQL earnings yield vs bond yields

FLQL earnings yield (forward)

5.48%

FLQL earnings yield (trailing)

4.35%

FLQL dividend yield

1.34%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 FLQL weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

FLQL largest holdings: valuation

FLQL largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	8.40%	39.4	35.2	10.7	0.31%	4.92%
NVDA	NVIDIA Corporation	7.25%	27.1	24.9	17.1	0.47%	6.18%
MSFT	Microsoft Corporation	5.46%	29.5	25.1	11.8	0.74%	4.27%
AMZN	Amazon.com, Inc.	3.32%	20.1	23.6	3.5	—	3.81%
GOOGL	Alphabet Inc.	3.18%	17.1	22.8	9.3	0.26%	4.30%
GOOG	Alphabet Inc.	2.61%	16.9	21.8	9.2	0.26%	3.56%
AVGO	Broadcom Inc.	2.02%	43.3	19.4	17.6	0.79%	1.08%
V	Visa Inc.	1.92%	34.3	24.0	17.0	0.67%	1.29%
META	Meta Platforms, Inc.	1.86%	26.7	22.1	7.9	0.30%	1.61%
JNJ	Johnson & Johnson	1.72%	38.8	21.0	6.2	2.10%	1.03%
ABBV	AbbVie Inc.	1.72%	80.6	16.4	7.8	2.42%	0.49%
CSCO	Cisco Systems, Inc.	1.53%	32.2	19.8	6.7	1.56%	1.10%
PM	Philip Morris International Inc.	1.48%	29.5	20.9	7.5	3.12%	1.16%
MA	Mastercard Incorporated	1.43%	34.0	24.2	15.4	0.56%	0.97%
LLY	Eli Lilly and Company	1.42%	42.2	24.4	14.1	0.55%	0.78%
CAT	Caterpillar Inc.	1.29%	31.5	25.4	4.5	0.89%	0.95%
C	Citigroup Inc.	1.22%	12.1	10.2	2.5	2.16%	2.32%
MU	Micron Technology, Inc.	1.20%	11.8	7.0	7.5	0.07%	2.34%
AMGN	Amgen Inc.	1.18%	26.9	16.7	6.1	2.33%	1.01%
AMAT	Applied Materials, Inc.	1.13%	35.3	23.4	10.5	0.52%	0.74%
LRCX	Lam Research Corporation	1.13%	45.8	33.7	14.2	0.50%	0.57%
TSLA	Tesla, Inc.	1.13%	328.4	158.7	13.5	—	0.08%
VZ	Verizon Communications Inc.	1.12%	11.7	8.7	1.3	6.32%	2.22%
TXN	Texas Instruments Incorporated	1.12%	42.1	27.5	13.0	2.20%	0.62%
JPM	JPMorgan Chase & Co.	1.12%	14.2	13.5	4.7	1.94%	1.82%

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 FLQL valuation

Adding up its 211 holdings with company data, FLQL trades at 23.0 times trailing earnings and 18.2 times analysts' forward estimates, with a price-to-book ratio of 5.39 and a dividend yield of 1.34%. Its earnings yield of 4.35% is 0.98 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 37.7% of the fund and earn 32.0% of its combined profit. By sector, Healthcare is the most expensive at 33.1 times earnings and Energy the cheapest at 14.6. Companies that lost money over the past year are 0.3% 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 99.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

FLQL valuation FAQ

What is the P/E ratio of FLQL?

Based on its holdings, FLQL has a trailing P/E of 23.0 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 FLQL?

The trailing earnings yield is 4.35% (1 ÷ P/E) and the forward earnings yield 5.48%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is FLQL more expensive than the S&P 500?

FLQL trades at 23.0 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 FLQL?

The holdings of FLQL trade at 5.39 times book value, with a combined return on equity of 23.4%.

Which sector in FLQL has the highest P/E?

Healthcare has the highest P/E at 33.1 and Energy the lowest at 14.6.