Fidelity U.S. Multifactor ETF (FLRG) Valuation
FLRG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.8 trailing earnings
- Forward P/E
- 14.7 analyst estimates
- Price / sales
- 3.06
- Price / book
- 4.07
- EV / EBITDA
- 13.7
- Earnings yield
- 5.60% inverse of P/E
- Dividend yield
- 1.57% of the holdings
- Return on equity
- 22.8% combined
- Net margin
- 17.2% combined
- Beta
- 0.91 weighted, vs S&P 500
FLRG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FLRG | 17.8 | 14.7 | 3.06 | 4.07 | 1.57% | 22.8% | 17.2% | 1.1% |
| 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.
FLRG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 37.2% | 26.2 | 20.0 | 4.78 | 8.58 | 0.77% | 32.8% |
| Financial Services | 12.3% | 9.2 | 9.5 | 2.26 | 1.53 | 1.82% | 16.7% |
| Healthcare | 10.2% | 36.0 | 15.6 | 5.47 | 5.31 | 1.66% | 14.7% |
| Consumer Cyclical | 9.4% | 18.6 | 14.7 | 2.09 | 15.82 | 1.43% | 84.9% |
| Communication Services | 7.9% | 12.8 | 12.7 | 1.97 | 2.69 | 1.74% | 21.0% |
| Industrials | 5.5% | 21.4 | 17.6 | 2.36 | 4.82 | 1.66% | 22.6% |
| Energy | 5.2% | 15.2 | 11.2 | 1.70 | 2.54 | 2.05% | 16.7% |
| Consumer Defensive | 4.6% | 23.6 | 17.1 | 4.22 | 17.64 | 3.66% | 74.9% |
| Basic Materials | 2.1% | 11.4 | 11.9 | 3.23 | 3.67 | 1.41% | 32.3% |
| Real Estate | 1.8% | 12.0 | 8.9 | 8.35 | 1.38 | 6.82% | 11.5% |
| Utilities | 0.9% | 5.8 | 8.2 | 1.11 | 1.18 | 6.28% | 20.5% |
FLRG 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 FLRG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FLRG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 7.09% | 27.1 | 24.9 | 17.1 | 0.47% | 4.81% |
| AAPL | Apple Inc. | 7.02% | 39.4 | 35.2 | 10.7 | 0.31% | 3.27% |
| MSFT | Microsoft Corporation | 5.49% | 29.5 | 25.1 | 11.8 | 0.74% | 3.42% |
| GOOGL | Alphabet Inc. | 4.76% | 17.1 | 22.8 | 9.3 | 0.26% | 5.11% |
| AVGO | Broadcom Inc. | 2.32% | 43.3 | 19.4 | 17.6 | 0.79% | 0.98% |
| XOM | Exxon Mobil Corporation | 1.95% | 23.0 | 14.8 | 2.0 | 2.30% | 1.56% |
| V | Visa Inc. | 1.90% | 34.3 | 24.0 | 17.0 | 0.67% | 1.02% |
| MU | Micron Technology, Inc. | 1.62% | 11.8 | 7.0 | 7.5 | 0.07% | 2.52% |
| JNJ | Johnson & Johnson | 1.55% | 38.8 | 21.0 | 6.2 | 2.10% | 0.74% |
| ABBV | AbbVie Inc. | 1.50% | 80.6 | 16.4 | 7.8 | 2.42% | 0.34% |
| PG | The Procter & Gamble Company | 1.22% | 24.1 | 21.2 | 4.3 | 2.73% | 0.93% |
| ADP | Automatic Data Processing, Inc. | 1.21% | 26.4 | 22.0 | 5.2 | 2.35% | 0.84% |
| MRK | Merck & Co., Inc. | 1.21% | 115.8 | 15.3 | 5.4 | 2.33% | 0.19% |
| VLO | Valero Energy Corporation | 1.19% | 18.5 | 10.2 | 1.0 | 1.08% | 1.18% |
| ABNB | Airbnb, Inc. | 1.15% | 39.6 | 25.4 | 7.9 | — | 0.53% |
| NEM | Newmont Corporation | 1.13% | 15.0 | 11.6 | 4.8 | 0.88% | 1.39% |
| APA | APA Corporation | 1.13% | 10.4 | 9.4 | 2.0 | 2.03% | 1.99% |
| PM | Philip Morris International Inc. | 1.11% | 29.5 | 20.9 | 7.5 | 3.12% | 0.69% |
| LMT | Lockheed Martin Corporation | 1.11% | 20.3 | 16.2 | 1.7 | 2.61% | 1.00% |
| RNR | RenaissanceRe Holdings Ltd. | 1.08% | 6.1 | 8.1 | 1.3 | 0.47% | 3.26% |
| GILD | Gilead Sciences, Inc. | 1.07% | — | 15.6 | 6.4 | 2.10% | −0.33% |
| MCD | McDonald's Corporation | 1.06% | 19.7 | 17.1 | 6.2 | 3.18% | 0.99% |
| CF | CF Industries Holdings, Inc. | 1.02% | 9.0 | 12.2 | 2.4 | 1.99% | 2.09% |
| TRV | The Travelers Companies, Inc. | 1.01% | 10.5 | 10.8 | 1.7 | 1.28% | 1.77% |
| COF | Capital One Financial Corporation | 1.00% | 13.0 | 8.5 | 2.6 | 1.59% | 1.42% |
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 FLRG valuation
Adding up its 100 holdings with company data, FLRG trades at 17.8 times trailing earnings and 14.7 times analysts' forward estimates, with a price-to-book ratio of 4.07 and a dividend yield of 1.57%. Its earnings yield of 5.60% is 0.28 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 35.2% of the fund and earn 23.7% of its combined profit. By sector, Healthcare is the most expensive at 36.0 times earnings and Utilities the cheapest at 5.8. Companies that lost money over the past year are 1.1% 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: FLRG chart, FLRG performance, FLRG holdings, FLRG dividends.
FLRG valuation FAQ
What is the P/E ratio of FLRG?
Based on its holdings, FLRG has a trailing P/E of 17.8 and a forward P/E of 14.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FLRG?
The trailing earnings yield is 5.60% (1 ÷ P/E) and the forward earnings yield 6.81%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FLRG more expensive than the S&P 500?
FLRG trades at 17.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.7 and 19.9.
What is the price-to-book ratio of FLRG?
The holdings of FLRG trade at 4.07 times book value, with a combined return on equity of 22.8%.
Which sector in FLRG has the highest P/E?
Healthcare has the highest P/E at 36.0 and Utilities the lowest at 5.8.