Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) Valuation

NASDAQ: GPIQP/E, earnings yield and other ratios of the holdings combined.

GPIQ valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 34.8
Forward P/E: 23.4
Price / sales: 5.94
Price / book: 9.41
EV / EBITDA: 21.4
Earnings yield: 2.88%
Dividend yield: 0.58%
Return on equity: 27.1%
Net margin: 17.1%
Beta: 1.43

GPIQ valuation vs other stock ETFs

P/E (TTM)Forward P/E

GPIQ valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
GPIQ	34.8	23.4	5.94	9.41	0.58%	27.1%	17.1%	7.0%
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.

GPIQ valuation by sector

P/E (TTM)Forward P/E

GPIQ valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	57.9%	39.9	22.8	11.62	13.66	0.48%	34.2%
Communication Services	11.4%	19.3	19.4	5.59	6.00	0.55%	31.2%
Consumer Cyclical	11.0%	31.8	28.6	3.17	7.95	0.23%	25.0%
Consumer Defensive	6.3%	33.9	27.9	1.54	7.44	1.48%	22.0%
Industrials	5.4%	73.4	52.5	10.17	9.44	0.42%	12.9%
Healthcare	4.5%	53.9	19.5	6.89	8.18	0.93%	15.2%
Utilities	1.2%	22.8	17.9	2.96	2.23	2.24%	9.7%
Basic Materials	1.1%	32.2	23.6	6.48	5.48	1.28%	17.0%
Energy	0.5%	24.7	12.8	2.57	1.84	1.91%	7.5%
Financial Services	0.3%	10.7	9.1	1.43	2.27	0.99%	21.1%

GPIQ earnings yield vs bond yields

GPIQ earnings yield (forward)

4.28%

GPIQ earnings yield (trailing)

2.88%

GPIQ dividend yield

0.58%

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 GPIQ weight splits by P/E

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

GPIQ largest holdings: valuation

GPIQ largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	8.17%	39.4	35.2	10.7	0.31%	7.28%
NVDA	NVIDIA Corporation	8.14%	27.1	24.9	17.1	0.47%	10.56%
MSFT	Microsoft Corporation	6.05%	29.5	25.1	11.8	0.74%	7.21%
MU	Micron Technology, Inc.	4.36%	11.8	7.0	7.5	0.07%	12.95%
AMZN	Amazon.com, Inc.	4.13%	20.1	23.6	3.5	—	7.21%
AMD	Advanced Micro Devices, Inc.	3.84%	134.9	39.5	20.9	—	1.00%
GOOGL	Alphabet Inc.	3.61%	17.1	22.8	9.3	0.26%	7.41%
TSLA	Tesla, Inc.	3.18%	328.4	158.7	13.5	—	0.34%
META	Meta Platforms, Inc.	3.11%	26.7	22.1	7.9	0.30%	4.08%
SPCX	Space Exploration Technologies Corp.	2.83%	—	200.0	83.5	—	−0.44%
AVGO	Broadcom Inc.	2.43%	43.3	19.4	17.6	0.79%	1.97%
COST	Costco Wholesale Corporation	2.24%	47.6	40.3	1.4	0.59%	1.65%
WMT	Walmart Inc.	2.20%	43.0	38.0	1.3	0.83%	1.79%
PLTR	Palantir Technologies Inc.	2.04%	160.4	85.5	72.6	—	0.45%
INTC	Intel Corporation	1.88%	—	63.3	8.3	—	−1.56%
GOOG	Alphabet Inc.	1.85%	16.9	21.8	9.2	0.26%	3.85%
CSCO	Cisco Systems, Inc.	1.82%	32.2	19.8	6.7	1.56%	1.98%
LRCX	Lam Research Corporation	1.29%	45.8	33.7	14.2	0.50%	0.99%
AMAT	Applied Materials, Inc.	1.29%	35.3	23.4	10.5	0.52%	1.28%
PANW	Palo Alto Networks, Inc.	1.29%	855.0	94.3	24.4	—	0.05%
LIN	Linde plc	1.14%	32.2	23.6	6.5	1.28%	1.25%
NFLX	Netflix, Inc.	1.13%	22.2	18.7	6.1	—	1.79%
CRWD	CrowdStrike Holdings, Inc.	1.11%	—	208.3	43.1	—	0.01%
TXN	Texas Instruments Incorporated	1.05%	42.1	27.5	13.0	2.20%	0.88%
AMGN	Amgen Inc.	0.97%	26.9	16.7	6.1	2.33%	1.27%

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 GPIQ valuation

Adding up its 96 holdings with company data, GPIQ trades at 34.8 times trailing earnings and 23.4 times analysts' forward estimates, with a price-to-book ratio of 9.41 and a dividend yield of 0.58%. Its earnings yield of 2.88% is 2.45 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 47.4% of the fund and earn 57.6% of its combined profit. By sector, Industrials is the most expensive at 73.4 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 7.0% 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 99.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

GPIQ valuation FAQ

What is the P/E ratio of GPIQ?

Based on its holdings, GPIQ has a trailing P/E of 34.8 and a forward P/E of 23.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of GPIQ?

The trailing earnings yield is 2.88% (1 ÷ P/E) and the forward earnings yield 4.28%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is GPIQ more expensive than the S&P 500?

GPIQ trades at 34.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.4 and 19.9.

What is the price-to-book ratio of GPIQ?

The holdings of GPIQ trade at 9.41 times book value, with a combined return on equity of 27.1%.

Which sector in GPIQ has the highest P/E?

Industrials has the highest P/E at 73.4 and Financial Services the lowest at 10.7.