First Trust Nasdaq Semiconductor ETF (FTXL) Valuation
FTXL valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 35.8 trailing earnings
- Forward P/E
- 20.5 analyst estimates
- Price / sales
- 5.92
- Price / book
- 7.81
- EV / EBITDA
- 24.8
- Earnings yield
- 2.79% inverse of P/E
- Dividend yield
- 0.72% of the holdings
- Return on equity
- 21.8% combined
- Net margin
- 16.5% combined
- Beta
- 1.86 weighted, vs S&P 500
FTXL valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FTXL | 35.8 | 20.5 | 5.92 | 7.81 | 0.72% | 21.8% | 16.5% | 8.5% |
| 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.
FTXL valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 100.0% | 35.8 | 20.5 | 5.92 | 7.81 | 0.72% | 21.8% |
| Industrials | 0.5% | 44.1 | 19.7 | 4.68 | 7.69 | 0.17% | 17.4% |
FTXL 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 FTXL weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FTXL largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| QCOM | QUALCOMM Incorporated | 8.68% | 19.9 | 19.6 | 4.2 | 2.14% | 15.52% |
| INTC | Intel Corporation | 8.18% | — | 63.3 | 8.3 | — | −6.87% |
| NVDA | NVIDIA Corporation | 8.04% | 27.1 | 24.9 | 17.1 | 0.47% | 10.58% |
| MU | Micron Technology, Inc. | 7.51% | 11.8 | 7.0 | 7.5 | 0.07% | 22.64% |
| AVGO | Broadcom Inc. | 6.96% | 43.3 | 19.4 | 17.6 | 0.79% | 5.72% |
| ADI | Analog Devices, Inc. | 4.59% | 47.0 | 23.2 | 13.8 | 1.11% | 3.48% |
| MRVL | Marvell Technology, Inc. | 4.54% | 72.3 | 62.1 | 21.7 | 0.11% | 2.24% |
| TXN | Texas Instruments Incorporated | 4.33% | 42.1 | 27.5 | 13.0 | 2.20% | 3.66% |
| ON | ON Semiconductor Corporation | 4.25% | 46.5 | 16.5 | 4.5 | — | 3.26% |
| AMD | Advanced Micro Devices, Inc. | 4.25% | 134.9 | 39.5 | 20.9 | — | 1.12% |
| NXPI | NXP Semiconductors N.V. | 4.21% | 19.6 | 12.9 | 4.4 | 1.77% | 7.66% |
| KLAC | KLA Corporation | 3.49% | 45.3 | 34.8 | 15.9 | 0.56% | 2.74% |
| AMAT | Applied Materials, Inc. | 3.41% | 35.3 | 23.4 | 10.5 | 0.52% | 3.44% |
| AMKR | Amkor Technology, Inc. | 3.32% | 18.8 | 18.8 | 1.4 | 0.80% | 6.31% |
| MCHP | Microchip Technology Incorporated | 3.27% | 108.6 | 20.5 | 7.8 | 2.46% | 1.07% |
| LRCX | Lam Research Corporation | 3.02% | 45.8 | 33.7 | 14.2 | 0.50% | 2.35% |
| TER | Teradyne, Inc. | 2.89% | 44.6 | 30.7 | 11.4 | 0.16% | 2.31% |
| ENTG | Entegris, Inc. | 2.34% | 69.4 | 31.6 | 6.4 | 0.29% | 1.20% |
| MPWR | Monolithic Power Systems, Inc. | 1.95% | 73.7 | 38.8 | 18.2 | 0.66% | 0.94% |
| CRUS | Cirrus Logic, Inc. | 1.75% | 13.1 | 13.8 | 2.6 | — | 4.75% |
| VSH | Vishay Intertechnology, Inc. | 0.99% | 145.8 | 18.9 | 1.3 | 1.44% | 0.24% |
| RMBS | Rambus Inc. | 0.94% | 40.0 | 24.2 | 12.5 | — | 0.83% |
| CRDO | Credo Technology Group Holding Ltd | 0.74% | 60.2 | 30.9 | 20.0 | — | 0.44% |
| DIOD | Diodes Incorporated | 0.63% | 44.3 | 12.5 | 2.3 | — | 0.51% |
| MTSI | MACOM Technology Solutions Holdings, Inc. | 0.61% | 83.5 | 32.3 | 17.2 | — | 0.26% |
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 FTXL valuation
Adding up its 37 holdings with company data, FTXL trades at 35.8 times trailing earnings and 20.5 times analysts' forward estimates, with a price-to-book ratio of 7.81 and a dividend yield of 0.72%. Its earnings yield of 2.79% is 2.53 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 61.3% of the fund and earn 61.4% of its combined profit. By sector, Industrials is the most expensive at 44.1 times earnings and Technology the cheapest at 35.8. Companies that lost money over the past year are 8.5% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FTXL chart, FTXL performance, FTXL holdings, FTXL dividends.
FTXL valuation FAQ
What is the P/E ratio of FTXL?
Based on its holdings, FTXL has a trailing P/E of 35.8 and a forward P/E of 20.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FTXL?
The trailing earnings yield is 2.79% (1 ÷ P/E) and the forward earnings yield 4.89%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FTXL more expensive than the S&P 500?
FTXL trades at 35.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.5 and 19.9.
What is the price-to-book ratio of FTXL?
The holdings of FTXL trade at 7.81 times book value, with a combined return on equity of 21.8%.
Which sector in FTXL has the highest P/E?
Industrials has the highest P/E at 44.1 and Technology the lowest at 35.8.