Formidable ETF (FORH) Valuation
FORH valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 89.7 trailing earnings
- Forward P/E
- 15.3 analyst estimates
- Price / sales
- 1.36
- Price / book
- 2.06
- EV / EBITDA
- 12.6
- Earnings yield
- 1.11% inverse of P/E
- Dividend yield
- 1.17% of the holdings
- Return on equity
- 2.3% combined
- Net margin
- 1.5% combined
- Beta
- 1.02 weighted, vs S&P 500
FORH valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FORH | 89.7 | 15.3 | 1.36 | 2.06 | 1.17% | 2.3% | 1.5% | 23.5% |
| 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.
FORH valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 28.7% | n/m | 21.1 | 1.22 | 1.52 | 0.18% | −5.2% |
| Technology | 15.0% | 24.7 | 14.7 | 3.96 | 5.76 | 0.04% | 23.4% |
| Energy | 14.0% | 17.9 | 8.7 | 0.50 | 1.45 | 5.10% | 8.1% |
| Healthcare | 12.6% | 50.5 | 31.9 | 5.28 | 5.03 | 0.12% | 10.0% |
| Basic Materials | 7.1% | n/m | 25.0 | 19.43 | 1.36 | 0.50% | −0.6% |
| Utilities | 3.9% | n/m | 9.9 | 4.49 | 8.91 | 0.00% | −10.4% |
| Financial Services | 2.1% | 9.0 | 8.4 | 6.32 | 1.19 | 5.03% | 13.2% |
FORH 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 FORH weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FORH largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ACTG | Acacia Research Corporation | 9.27% | — | 47.4 | 1.5 | — | −40.52% |
| TLN | Talen Energy Corporation | 3.86% | — | 9.9 | 4.5 | — | −5.20% |
| HSTM | HealthStream, Inc. | 3.44% | 46.0 | 33.8 | 3.2 | 0.41% | 8.64% |
| ARLP | Alliance Resource Partners, L.P. | 3.31% | 12.6 | 9.0 | 1.5 | 9.33% | 30.51% |
| SM | SM Energy Company | 3.08% | 7.0 | 4.4 | 1.9 | 2.23% | 50.85% |
| VEEV | Veeva Systems Inc. | 3.05% | 50.9 | 30.2 | 14.5 | — | 6.93% |
| PAGP | Plains GP Holdings, L.P. | 2.87% | 62.4 | 12.1 | 0.1 | 6.08% | 5.33% |
| RGLD | Royal Gold, Inc. | 2.76% | 26.4 | 24.2 | 13.1 | 0.80% | 12.09% |
| VNOM | Viper Energy Partners LP | 2.71% | — | 13.7 | 8.4 | 5.44% | 0.14% |
| PAAS | Pan American Silver Corp | 2.65% | — | — | — | — | — |
| GNRC | Generac Holdings Inc. | 2.64% | 44.3 | 15.9 | 2.6 | — | 6.88% |
| ATI | ATI Inc. | 2.63% | 54.4 | 28.8 | 5.4 | — | 5.58% |
| GCT | GigaCloud Technology Inc. | 2.47% | 13.6 | 11.0 | 1.4 | — | 20.96% |
| AVAV | AeroVironment, Inc. | 2.27% | — | 55.2 | 3.1 | — | −8.74% |
| CRDO | Credo Technology Group Holding Ltd | 2.18% | 60.2 | 30.9 | 20.0 | — | 4.19% |
| BLX | Banco Latinoamericano de Comercio Exterior, S. A. | 2.15% | 9.0 | 8.4 | 6.3 | 5.03% | 27.54% |
| AMTM | Amentum Holdings Inc. | 2.12% | 23.5 | 7.5 | 0.3 | — | 10.43% |
| NVT | nVent Electric plc | 2.10% | 39.3 | 25.1 | 4.8 | 0.59% | 6.16% |
| LB | LandBridge Company LLC | 1.98% | 72.2 | 21.6 | 28.3 | 0.59% | 3.17% |
| CORT | Corcept Therapeutics Incorporated | 1.97% | 244.8 | 19.3 | 14.3 | — | 0.93% |
| SPW0 | SPX TECHNOLOGIES DL 10 | 1.88% | — | — | — | — | — |
| MANH | Manhattan Associates, Inc. | 1.85% | 63.8 | 40.3 | 11.5 | — | 3.35% |
| PEGA | Pegasystems Inc. | 1.84% | 19.5 | 13.4 | 3.3 | 0.35% | 10.88% |
| PODD | Insulet Corporation | 1.82% | 26.4 | 54.9 | 3.2 | — | 7.95% |
| RMBS | Rambus Inc. | 1.70% | 40.0 | 24.2 | 12.5 | — | 4.90% |
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 FORH valuation
Adding up its 34 holdings with company data, FORH trades at 89.7 times trailing earnings and 15.3 times analysts' forward estimates, with a price-to-book ratio of 2.06 and a dividend yield of 1.17%. Its earnings yield of 1.11% is 4.21 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 37.0% of the fund and earn 75.7% of its combined profit. By sector, Healthcare is the most expensive at 50.5 times earnings and Financial Services the cheapest at 9.0. Companies that lost money over the past year are 23.5% 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 93.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FORH chart, FORH performance, FORH holdings, FORH dividends.
FORH valuation FAQ
What is the P/E ratio of FORH?
Based on its holdings, FORH has a trailing P/E of 89.7 and a forward P/E of 15.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FORH?
The trailing earnings yield is 1.11% (1 ÷ P/E) and the forward earnings yield 6.52%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FORH more expensive than the S&P 500?
FORH trades at 89.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.3 and 19.9.
What is the price-to-book ratio of FORH?
The holdings of FORH trade at 2.06 times book value, with a combined return on equity of 2.3%.
Which sector in FORH has the highest P/E?
Healthcare has the highest P/E at 50.5 and Financial Services the lowest at 9.0.