InfraCap Equity Income Fund ETF (ICAP) Valuation

NYSE Arca: ICAPP/E, earnings yield and other ratios of the holdings combined.

ICAP valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 21.7
Forward P/E: 15.0
Price / sales: 2.47
Price / book: 2.56
EV / EBITDA: 9.1
Earnings yield: 4.60%
Dividend yield: 1.83%
Return on equity: 11.8%
Net margin: 11.4%
Beta: 1.17

ICAP valuation vs other stock ETFs

P/E (TTM)Forward P/E

ICAP valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
ICAP	21.7	15.0	2.47	2.56	1.83%	11.8%	11.4%	6.7%
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.

ICAP valuation by sector

P/E (TTM)Forward P/E

ICAP valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	25.7%	39.5	22.1	10.89	13.98	0.38%	35.4%
Financial Services	21.0%	11.0	8.5	1.61	1.28	2.18%	11.6%
Consumer Cyclical	15.3%	15.6	16.0	1.15	1.73	1.24%	11.1%
Industrials	11.3%	26.3	21.2	2.20	10.52	1.63%	39.9%
Real Estate	9.4%	93.7	14.6	2.76	0.97	8.29%	1.0%
Utilities	8.8%	21.1	15.9	3.62	2.83	2.52%	13.4%
Communication Services	8.4%	18.3	22.7	9.04	6.96	0.27%	38.0%
Consumer Defensive	6.5%	n/m	15.8	2.14	2.59	2.94%	−2.2%
Energy	3.6%	18.5	12.7	2.68	4.08	1.58%	22.1%
Healthcare	2.5%	79.9	16.9	6.43	10.67	1.87%	13.4%
Basic Materials	0.6%	290.9	11.5	1.93	1.69	1.70%	0.6%

ICAP earnings yield vs bond yields

ICAP earnings yield (forward)

6.69%

ICAP earnings yield (trailing)

4.60%

ICAP dividend yield

1.83%

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 ICAP weight splits by P/E

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

ICAP largest holdings: valuation

ICAP largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
MRVL	Marvell Technology, Inc.	7.31%	72.3	62.1	21.7	0.11%	2.00%
GOOGL	Alphabet Inc.	6.82%	17.1	22.8	9.3	0.26%	7.89%
AVGO	Broadcom Inc.	6.30%	43.3	19.4	17.6	0.79%	2.87%
LMT	Lockheed Martin Corporation	6.22%	20.3	16.2	1.7	2.61%	6.04%
AMZN	Amazon.com, Inc.	5.54%	20.1	23.6	3.5	—	5.45%
DHI	D.R. Horton, Inc.	4.89%	12.9	11.9	1.2	1.29%	7.49%
KKR	KKR & Co. Inc.	4.88%	27.5	13.0	3.1	0.90%	3.51%
LEN	Lennar Corporation	4.25%	14.6	15.7	0.6	2.59%	5.75%
CFG	Citizens Financial Group, Inc.	3.76%	13.8	9.9	3.3	2.90%	5.39%
BAC	Bank of America Corporation	2.55%	12.2	10.8	3.1	2.50%	4.12%
NEE	NextEra Energy, Inc.	2.42%	17.9	17.7	5.8	3.12%	2.67%
CELH	Celsius Holdings, Inc.	2.32%	122.6	16.9	2.3	—	0.37%
AMD	Advanced Micro Devices, Inc.	2.26%	134.9	39.5	20.9	—	0.33%
XEL	Xcel Energy Inc.	2.21%	20.9	16.0	3.3	3.11%	2.09%
VST	Vistra Corp.	2.13%	25.6	13.3	2.7	0.61%	1.64%
BHF	Brighthouse Financial, Inc.	2.12%	3.8	3.4	0.4	—	11.12%
LNG	Cheniere Energy, Inc.	2.08%	21.9	13.5	2.9	0.77%	1.88%
GEV	GE Vernova Inc.	1.97%	26.4	38.8	5.9	0.22%	1.47%
NYMTN	New York Mortgage Trust Inc Pref	1.94%	—	—	—	—	—
MRK	Merck & Co., Inc.	1.87%	115.8	15.3	5.4	2.33%	0.32%
SPCX	Space Exploration Technologies Corp.	1.82%	—	200.0	83.5	—	−0.16%
AAPL	Apple Inc.	1.80%	39.4	35.2	10.7	0.31%	0.91%
MSFT	Microsoft Corporation	1.62%	29.5	25.1	11.8	0.74%	1.09%
REXR	Rexford Industrial Realty, Inc.	1.57%	—	18.8	8.5	4.72%	−1.47%
META	Meta Platforms, Inc.	1.57%	26.7	22.1	7.9	0.30%	1.16%

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 ICAP valuation

Adding up its 67 holdings with company data, ICAP trades at 21.7 times trailing earnings and 15.0 times analysts' forward estimates, with a price-to-book ratio of 2.56 and a dividend yield of 1.83%. Its earnings yield of 4.60% is 0.73 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 52.5% of the fund and earn 50.5% of its combined profit. By sector, Basic Materials is the most expensive at 290.9 times earnings and Financial Services the cheapest at 11.0. Companies that lost money over the past year are 6.7% 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 91.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

ICAP valuation FAQ

What is the P/E ratio of ICAP?

Based on its holdings, ICAP has a trailing P/E of 21.7 and a forward P/E of 15.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of ICAP?

The trailing earnings yield is 4.60% (1 ÷ P/E) and the forward earnings yield 6.69%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is ICAP more expensive than the S&P 500?

ICAP trades at 21.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.0 and 19.9.

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

The holdings of ICAP trade at 2.56 times book value, with a combined return on equity of 11.8%.

Which sector in ICAP has the highest P/E?

Basic Materials has the highest P/E at 290.9 and Financial Services the lowest at 11.0.