Amplify Digital Payments ETF (IPAY) Valuation
IPAY valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.4 trailing earnings
- Forward P/E
- 10.9 analyst estimates
- Price / sales
- 1.65
- Price / book
- 2.36
- EV / EBITDA
- 10.3
- Earnings yield
- 5.76% inverse of P/E
- Dividend yield
- 0.97% of the holdings
- Return on equity
- 13.6% combined
- Net margin
- 9.5% combined
- Beta
- 1.39 weighted, vs S&P 500
IPAY valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IPAY | 17.4 | 10.9 | 1.65 | 2.36 | 0.97% | 13.6% | 9.5% | 5.7% |
| 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.
IPAY valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 52.3% | 15.1 | 9.3 | 1.17 | 2.04 | 0.84% | 13.5% |
| Financial Services | 43.1% | 18.8 | 14.8 | 2.47 | 3.32 | 1.05% | 17.7% |
| Industrials | 4.6% | 39.3 | 5.3 | 2.17 | 0.97 | 1.20% | 2.5% |
IPAY 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 IPAY weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IPAY largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| V | Visa Inc. | 6.96% | 34.3 | 24.0 | 17.0 | 0.67% | 4.21% |
| MA | Mastercard Incorporated | 6.81% | 34.0 | 24.2 | 15.4 | 0.56% | 4.16% |
| COF | Capital One Financial Corporation | 6.09% | 13.0 | 8.5 | 2.6 | 1.59% | 9.74% |
| AXP | American Express Company | 5.93% | 19.0 | 15.1 | 3.0 | 1.21% | 6.45% |
| PYPL | PayPal Holdings, Inc. | 5.90% | 10.7 | 9.1 | 1.4 | 0.99% | 11.40% |
| CPAY | Corpay, Inc. | 4.77% | 24.3 | 12.8 | 5.2 | — | 4.07% |
| AFRM | Affirm Holdings, Inc. | 4.55% | 13.4 | 35.6 | 5.9 | — | 7.05% |
| FISV | Fiserv, Inc. | 4.40% | 9.1 | 5.7 | 1.2 | — | 9.98% |
| COIN | Coinbase Global, Inc. | 4.39% | — | 54.3 | 7.6 | — | −1.70% |
| GPN | Global Payments Inc. | 4.29% | 39.3 | 5.3 | 2.2 | 1.20% | 2.27% |
| XYZ | Block, Inc | 4.28% | 139.1 | 14.5 | 1.9 | — | 0.64% |
| FIS | Fidelity National Information Services, Inc. | 4.10% | 5.5 | 5.1 | 1.5 | 4.89% | 15.37% |
| TOST | Toast, Inc. | 4.01% | 40.0 | 17.6 | 2.7 | — | 2.07% |
| WISE | Wise plc | 4.00% | — | — | — | — | — |
| ADYEN | Adyen NV | 3.96% | — | — | — | — | — |
| WEX | WEX Inc. | 3.13% | 18.1 | 8.6 | 2.2 | — | 3.57% |
| ACIW | ACI Worldwide, Inc. | 2.46% | 24.1 | 12.6 | 2.9 | — | 2.11% |
| RELY_old | RELY | 2.24% | — | — | — | — | — |
| NEXI | Nexi S.p.A | 1.89% | — | — | — | — | — |
| QTWO | Q2 Holdings, Inc. | 1.77% | 43.9 | 18.0 | 4.6 | — | 0.84% |
| 3769 | GMO Payment Gateway Inc | 1.50% | — | — | — | — | — |
| FLYW | Flywire Corporation | 1.18% | 71.0 | 18.9 | 3.2 | — | 0.34% |
| FOUR | Shift4 Payments, Inc. | 1.11% | 62.6 | 6.4 | 0.7 | — | 0.37% |
| STNE | StoneCo Ltd. | 1.11% | 4.4 | 10.8 | 0.2 | — | 5.26% |
| EEFT | Euronet Worldwide, Inc. | 1.10% | 10.3 | 5.5 | 0.6 | — | 2.20% |
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 IPAY valuation
Adding up its 28 holdings with company data, IPAY trades at 17.4 times trailing earnings and 10.9 times analysts' forward estimates, with a price-to-book ratio of 2.36 and a dividend yield of 0.97%. Its earnings yield of 5.76% is 0.43 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 54.1% of the fund and earn 57.6% of its combined profit. By sector, Industrials is the most expensive at 39.3 times earnings and Technology the cheapest at 15.1. Companies that lost money over the past year are 5.7% 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 83.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IPAY chart, IPAY performance, IPAY holdings, IPAY dividends.
IPAY valuation FAQ
What is the P/E ratio of IPAY?
Based on its holdings, IPAY has a trailing P/E of 17.4 and a forward P/E of 10.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IPAY?
The trailing earnings yield is 5.76% (1 ÷ P/E) and the forward earnings yield 9.16%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IPAY more expensive than the S&P 500?
IPAY trades at 17.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.9 and 19.9.
What is the price-to-book ratio of IPAY?
The holdings of IPAY trade at 2.36 times book value, with a combined return on equity of 13.6%.
Which sector in IPAY has the highest P/E?
Industrials has the highest P/E at 39.3 and Technology the lowest at 15.1.