iShares Core S&P Total U.S. Stock Market ETF (ITOT) Valuation

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

ITOT valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 27.9
Forward P/E: 19.3
Price / sales: 3.18
Price / book: 4.85
EV / EBITDA: 16.4
Earnings yield: 3.59%
Dividend yield: 1.11%
Return on equity: 17.4%
Net margin: 11.4%
Beta: 1.15

ITOT valuation vs other stock ETFs

P/E (TTM)Forward P/E

ITOT valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
ITOT	27.9	19.3	3.18	4.85	1.11%	17.4%	11.4%	4.5%
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.

ITOT valuation by sector

P/E (TTM)Forward P/E

ITOT valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	36.3%	35.6	23.1	8.00	11.36	0.53%	31.9%
Financial Services	12.3%	16.7	14.1	3.04	2.23	1.55%	13.4%
Healthcare	10.4%	49.6	17.5	1.82	5.09	1.29%	10.2%
Consumer Cyclical	9.1%	27.9	21.3	2.10	5.55	0.79%	19.9%
Industrials	8.6%	33.1	21.8	2.41	5.61	1.05%	17.0%
Communication Services	8.6%	19.0	18.8	4.56	4.70	0.71%	24.7%
Consumer Defensive	4.6%	30.4	20.6	1.49	5.95	2.28%	19.6%
Energy	3.9%	19.8	12.7	1.77	2.41	2.27%	12.2%
Real Estate	2.2%	34.0	26.7	4.73	2.46	4.06%	7.2%
Utilities	2.0%	19.5	15.4	2.73	2.04	3.01%	10.5%
Basic Materials	1.8%	32.7	15.9	2.17	3.20	1.35%	9.8%

ITOT earnings yield vs bond yields

ITOT earnings yield (forward)

5.18%

ITOT earnings yield (trailing)

3.59%

ITOT dividend yield

1.11%

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 ITOT weight splits by P/E

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

ITOT largest holdings: valuation

ITOT largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	6.86%	39.4	35.2	10.7	0.31%	4.87%
NVDA	NVIDIA Corporation	6.77%	27.1	24.9	17.1	0.47%	7.00%
MSFT	Microsoft Corporation	5.29%	29.5	25.1	11.8	0.74%	5.02%
AMZN	Amazon.com, Inc.	3.37%	20.1	23.6	3.5	—	4.69%
GOOGL	Alphabet Inc.	2.65%	17.1	22.8	9.3	0.26%	4.35%
AVGO	Broadcom Inc.	2.01%	43.3	19.4	17.6	0.79%	1.30%
META	Meta Platforms, Inc.	1.99%	26.7	22.1	7.9	0.30%	2.08%
GOOG	Alphabet Inc.	1.97%	16.9	21.8	9.2	0.26%	3.26%
BRK.B	Berkshire Hathaway Inc.	1.44%	13.4	22.7	3.0	—	3.01%
LLY	Eli Lilly and Company	1.40%	42.2	24.4	14.1	0.55%	0.93%
TSLA	Tesla, Inc.	1.38%	328.4	158.7	13.5	—	0.12%
MU	Micron Technology, Inc.	1.29%	11.8	7.0	7.5	0.07%	3.04%
AMD	Advanced Micro Devices, Inc.	1.17%	134.9	39.5	20.9	—	0.24%
JPM	JPMorgan Chase & Co.	1.17%	14.2	13.5	4.7	1.94%	2.29%
V	Visa Inc.	1.00%	34.3	24.0	17.0	0.67%	0.81%
XOM	Exxon Mobil Corporation	0.97%	23.0	14.8	2.0	2.30%	1.18%
JNJ	Johnson & Johnson	0.83%	38.8	21.0	6.2	2.10%	0.60%
WMT	Walmart Inc.	0.70%	43.0	38.0	1.3	0.83%	0.46%
MA	Mastercard Incorporated	0.69%	34.0	24.2	15.4	0.56%	0.57%
ABBV	AbbVie Inc.	0.65%	80.6	16.4	7.8	2.42%	0.23%
CVX	Chevron Corporation	0.61%	21.2	15.2	2.1	3.16%	0.81%
PLTR	Palantir Technologies Inc.	0.60%	160.4	85.5	72.6	—	0.10%
COST	Costco Wholesale Corporation	0.60%	47.6	40.3	1.4	0.59%	0.35%
INTC	Intel Corporation	0.59%	—	63.3	8.3	—	−0.39%
CSCO	Cisco Systems, Inc.	0.57%	32.2	19.8	6.7	1.56%	0.50%

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 ITOT valuation

Adding up its 2,355 holdings with company data, ITOT trades at 27.9 times trailing earnings and 19.3 times analysts' forward estimates, with a price-to-book ratio of 4.85 and a dividend yield of 1.11%. Its earnings yield of 3.59% is 1.74 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 33.7% of the fund and earn 36.5% of its combined profit. By sector, Healthcare is the most expensive at 49.6 times earnings and Financial Services the cheapest at 16.7. Companies that lost money over the past year are 4.5% 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 99.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

ITOT valuation FAQ

What is the P/E ratio of ITOT?

Based on its holdings, ITOT has a trailing P/E of 27.9 and a forward P/E of 19.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of ITOT?

The trailing earnings yield is 3.59% (1 ÷ P/E) and the forward earnings yield 5.18%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is ITOT more expensive than the S&P 500?

ITOT trades at 27.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.3 and 19.9.

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

The holdings of ITOT trade at 4.85 times book value, with a combined return on equity of 17.4%.

Which sector in ITOT has the highest P/E?

Healthcare has the highest P/E at 49.6 and Financial Services the lowest at 16.7.