iShares U.S. Aerospace & Defense ETF (ITA) Valuation
ITA valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 37.2 trailing earnings
- Forward P/E
- 25.6 analyst estimates
- Price / sales
- 2.90
- Price / book
- 6.07
- EV / EBITDA
- 20.2
- Earnings yield
- 2.69% inverse of P/E
- Dividend yield
- 0.86% of the holdings
- Return on equity
- 16.3% combined
- Net margin
- 7.8% combined
- Beta
- 0.88 weighted, vs S&P 500
ITA valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ITA | 37.2 | 25.6 | 2.90 | 6.07 | 0.86% | 16.3% | 7.8% | 4.1% |
| 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.
ITA valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 100.1% | 37.2 | 25.6 | 2.90 | 6.07 | 0.86% | 16.3% |
ITA 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 ITA weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ITA largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| GE | GE Aerospace | 19.99% | 37.0 | 35.3 | 6.4 | 0.60% | 20.06% |
| RTX | RTX Corporation | 17.10% | 34.1 | 24.6 | 2.8 | 1.51% | 18.59% |
| BA | The Boeing Company | 7.99% | 67.9 | 49.5 | 1.6 | — | 4.37% |
| NOC | Northrop Grumman Corporation | 5.28% | 16.5 | 17.0 | 1.7 | 1.90% | 11.87% |
| LMT | Lockheed Martin Corporation | 5.17% | 20.3 | 16.2 | 1.7 | 2.61% | 9.43% |
| TDG | TransDigm Group Incorporated | 5.09% | 34.6 | 23.1 | 6.3 | — | 5.47% |
| GD | General Dynamics Corporation | 5.01% | 21.0 | 18.5 | 1.7 | 1.85% | 8.85% |
| HONA | Honeywell Aerospace Inc. | 3.88% | 51.2 | 18.3 | 3.0 | — | 2.81% |
| HWM | Howmet Aerospace Inc. | 3.86% | 47.6 | 36.0 | 9.7 | 0.25% | 3.01% |
| LHX | L3Harris Technologies, Inc. | 3.60% | 25.1 | 17.9 | 2.0 | 2.01% | 5.34% |
| AXON | Axon Enterprise, Inc. | 2.55% | 161.9 | 58.1 | 9.8 | — | 0.59% |
| RKLB | Rocket Lab USA, Inc. | 2.22% | — | — | 42.3 | — | −0.41% |
| ATI | ATI Inc. | 1.71% | 54.4 | 28.8 | 5.4 | — | 1.16% |
| WWD | Woodward, Inc. | 1.48% | 36.5 | 31.6 | 4.6 | 0.39% | 1.50% |
| HEI.A | HEICO Corporation | 1.39% | 38.8 | 31.7 | 6.3 | 0.11% | 1.33% |
| CW | Curtiss-Wright Corporation | 1.39% | 34.6 | 28.4 | 5.1 | 0.21% | 1.49% |
| FTAI | FTAI Aviation Ltd. | 1.31% | 35.8 | 13.5 | 5.4 | 1.22% | 1.36% |
| CRS | Carpenter Technology Corporation | 1.11% | 35.8 | 23.4 | 6.0 | 0.21% | 1.15% |
| TXT | Textron Inc. | 1.00% | 14.3 | 10.4 | 0.9 | 0.11% | 2.61% |
| BWXT | BWX Technologies, Inc. | 0.96% | 35.5 | 27.0 | 3.6 | 0.77% | 1.01% |
| HEI | HEICO Corporation | 0.95% | 51.6 | 42.6 | 8.4 | 0.08% | 0.68% |
| HII | Huntington Ingalls Industries, Inc. | 0.90% | 16.2 | 12.6 | 0.8 | 2.03% | 2.06% |
| MOG.A | Moog Inc. | 0.79% | 31.1 | 31.7 | 2.7 | 0.33% | 0.94% |
| KTOS | Kratos Defense & Security Solutions, Inc. | 0.56% | 237.8 | 45.2 | 5.0 | — | 0.09% |
| HXL | Hexcel Corporation | 0.49% | 45.6 | 20.3 | 3.4 | 0.80% | 0.40% |
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 ITA valuation
Adding up its 50 holdings with company data, ITA trades at 37.2 times trailing earnings and 25.6 times analysts' forward estimates, with a price-to-book ratio of 6.07 and a dividend yield of 0.86%. Its earnings yield of 2.69% is 2.64 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 77.0% of the fund and earn 89.8% of its combined profit. Companies that lost money over the past year are 4.1% 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: ITA chart, ITA performance, ITA holdings, ITA dividends.
ITA valuation FAQ
What is the P/E ratio of ITA?
Based on its holdings, ITA has a trailing P/E of 37.2 and a forward P/E of 25.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ITA?
The trailing earnings yield is 2.69% (1 ÷ P/E) and the forward earnings yield 3.91%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ITA more expensive than the S&P 500?
ITA trades at 37.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 25.6 and 19.9.
What is the price-to-book ratio of ITA?
The holdings of ITA trade at 6.07 times book value, with a combined return on equity of 16.3%.