BlackRock U.S. Industry Rotation ETF (INRO) Valuation
INRO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 26.8 trailing earnings
- Forward P/E
- 19.7 analyst estimates
- Price / sales
- 3.29
- Price / book
- 5.19
- EV / EBITDA
- 17.8
- Earnings yield
- 3.73% inverse of P/E
- Dividend yield
- 1.05% of the holdings
- Return on equity
- 19.4% combined
- Net margin
- 12.3% combined
- Beta
- 1.17 weighted, vs S&P 500
INRO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| INRO | 26.8 | 19.7 | 3.29 | 5.19 | 1.05% | 19.4% | 12.3% | 3.2% |
| 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.
INRO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 40.1% | 32.8 | 23.8 | 6.71 | 12.43 | 0.49% | 37.9% |
| Financial Services | 11.9% | 16.4 | 14.2 | 3.21 | 2.44 | 1.50% | 14.9% |
| Healthcare | 10.3% | 37.0 | 16.5 | 1.83 | 4.23 | 1.80% | 11.4% |
| Consumer Cyclical | 8.5% | 21.6 | 22.2 | 2.32 | 4.80 | 0.57% | 22.2% |
| Communication Services | 8.2% | 18.3 | 19.6 | 5.64 | 5.27 | 0.73% | 28.8% |
| Industrials | 6.5% | 39.7 | 26.3 | 2.25 | 6.72 | 0.59% | 17.0% |
| Consumer Defensive | 6.0% | 56.4 | 20.0 | 1.64 | 4.73 | 2.65% | 8.4% |
| Energy | 4.2% | 19.5 | 13.5 | 1.89 | 2.59 | 2.35% | 13.3% |
| Utilities | 1.6% | 20.5 | 15.7 | 3.70 | 2.17 | 2.77% | 10.6% |
| Basic Materials | 1.0% | 21.2 | 14.6 | 4.09 | 3.87 | 0.83% | 18.3% |
| Real Estate | 0.2% | n/m | 27.4 | 1.69 | 0.86 | 6.53% | −3.6% |
INRO 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 INRO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
INRO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 8.14% | 39.4 | 35.2 | 10.7 | 0.31% | 5.66% |
| NVDA | NVIDIA Corporation | 7.98% | 27.1 | 24.9 | 17.1 | 0.47% | 8.07% |
| MSFT | Microsoft Corporation | 6.26% | 29.5 | 25.1 | 11.8 | 0.74% | 5.82% |
| AMZN | Amazon.com, Inc. | 3.40% | 20.1 | 23.6 | 3.5 | — | 4.63% |
| GOOGL | Alphabet Inc. | 2.84% | 17.1 | 22.8 | 9.3 | 0.26% | 4.56% |
| META | Meta Platforms, Inc. | 2.20% | 26.7 | 22.1 | 7.9 | 0.30% | 2.25% |
| GOOG | Alphabet Inc. | 2.09% | 16.9 | 21.8 | 9.2 | 0.26% | 3.39% |
| JPM | JPMorgan Chase & Co. | 1.90% | 14.2 | 13.5 | 4.7 | 1.94% | 3.65% |
| AVGO | Broadcom Inc. | 1.86% | 43.3 | 19.4 | 17.6 | 0.79% | 1.18% |
| TSLA | Tesla, Inc. | 1.73% | 328.4 | 158.7 | 13.5 | — | 0.14% |
| MU | Micron Technology, Inc. | 1.54% | 11.8 | 7.0 | 7.5 | 0.07% | 3.57% |
| LLY | Eli Lilly and Company | 1.49% | 42.2 | 24.4 | 14.1 | 0.55% | 0.96% |
| MA | Mastercard Incorporated | 1.40% | 34.0 | 24.2 | 15.4 | 0.56% | 1.12% |
| AMD | Advanced Micro Devices, Inc. | 1.38% | 134.9 | 39.5 | 20.9 | — | 0.28% |
| WMT | Walmart Inc. | 1.32% | 43.0 | 38.0 | 1.3 | 0.83% | 0.84% |
| BRK.B | Berkshire Hathaway Inc. | 1.18% | 13.4 | 22.7 | 3.0 | — | 2.42% |
| PG | The Procter & Gamble Company | 1.12% | 24.1 | 21.2 | 4.3 | 2.73% | 1.28% |
| JNJ | Johnson & Johnson | 1.04% | 38.8 | 21.0 | 6.2 | 2.10% | 0.73% |
| V | Visa Inc. | 1.01% | 34.3 | 24.0 | 17.0 | 0.67% | 0.81% |
| XOM | Exxon Mobil Corporation | 0.93% | 23.0 | 14.8 | 2.0 | 2.30% | 1.11% |
| BAC | Bank of America Corporation | 0.92% | 12.2 | 10.8 | 3.1 | 2.50% | 2.05% |
| CVX | Chevron Corporation | 0.91% | 21.2 | 15.2 | 2.1 | 3.16% | 1.18% |
| TDY | Teledyne Technologies Incorporated | 0.86% | 29.9 | 23.6 | 4.5 | — | 0.79% |
| LRCX | Lam Research Corporation | 0.79% | 45.8 | 33.7 | 14.2 | 0.50% | 0.47% |
| MRK | Merck & Co., Inc. | 0.78% | 115.8 | 15.3 | 5.4 | 2.33% | 0.18% |
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 INRO valuation
Adding up its 328 holdings with company data, INRO trades at 26.8 times trailing earnings and 19.7 times analysts' forward estimates, with a price-to-book ratio of 5.19 and a dividend yield of 1.05%. Its earnings yield of 3.73% is 1.60 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 38.4% of the fund and earn 39.3% of its combined profit. By sector, Consumer Defensive is the most expensive at 56.4 times earnings and Financial Services the cheapest at 16.4. Companies that lost money over the past year are 3.2% 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 98.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: INRO chart, INRO performance, INRO holdings, INRO dividends.
INRO valuation FAQ
What is the P/E ratio of INRO?
Based on its holdings, INRO has a trailing P/E of 26.8 and a forward P/E of 19.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of INRO?
The trailing earnings yield is 3.73% (1 ÷ P/E) and the forward earnings yield 5.06%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is INRO more expensive than the S&P 500?
INRO trades at 26.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.7 and 19.9.
What is the price-to-book ratio of INRO?
The holdings of INRO trade at 5.19 times book value, with a combined return on equity of 19.4%.
Which sector in INRO has the highest P/E?
Consumer Defensive has the highest P/E at 56.4 and Financial Services the lowest at 16.4.