iShares Transportation Average ETF (IYT) Valuation
IYT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.8 trailing earnings
- Forward P/E
- 15.6 analyst estimates
- Price / sales
- 1.33
- Price / book
- 4.17
- EV / EBITDA
- 13.9
- Earnings yield
- 4.38% inverse of P/E
- Dividend yield
- 1.23% of the holdings
- Return on equity
- 18.2% combined
- Net margin
- 5.8% combined
- Beta
- 1.22 weighted, vs S&P 500
IYT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IYT | 22.8 | 15.6 | 1.33 | 4.17 | 1.23% | 18.2% | 5.8% | 3.7% |
| 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.
IYT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 83.8% | 27.4 | 15.6 | 1.23 | 4.08 | 1.45% | 14.9% |
| Technology | 15.2% | 11.9 | 15.3 | 2.36 | 4.71 | 0.00% | 39.5% |
IYT 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 IYT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IYT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| UNP | Union Pacific Corporation | 17.71% | 23.4 | 19.3 | 6.8 | 1.97% | 17.44% |
| UBER | Uber Technologies, Inc. | 14.36% | 15.4 | 15.9 | 2.6 | — | 21.48% |
| CSX | CSX Corporation | 10.13% | 28.3 | 21.2 | 6.2 | 1.15% | 8.26% |
| ODFL | Old Dominion Freight Line, Inc. | 4.88% | 36.1 | 27.3 | 6.9 | 0.62% | 3.12% |
| NSC | Norfolk Southern Corporation | 4.74% | 27.9 | 22.3 | 5.9 | 1.65% | 3.92% |
| FDX | FedEx Corporation | 4.50% | 15.8 | 14.2 | 0.7 | 1.66% | 6.55% |
| UPS | United Parcel Service, Inc. | 4.45% | 18.1 | 12.0 | 0.9 | 6.73% | 5.67% |
| DAL | Delta Air Lines, Inc. | 4.37% | 15.0 | 9.2 | 0.7 | 1.14% | 6.70% |
| UAL | United Airlines Holdings, Inc. | 4.11% | 9.0 | 7.4 | 0.5 | — | 10.52% |
| EXPD | Expeditors International of Washington, Inc. | 3.35% | 28.5 | 24.4 | 2.1 | 0.83% | 2.71% |
| XPO | XPO Logistics, Inc. | 3.04% | 54.9 | 27.0 | 2.5 | — | 1.28% |
| LUV | Southwest Airlines Co. | 2.72% | 24.7 | 8.3 | 0.6 | 1.82% | 2.54% |
| JBHT | J.B. Hunt Transport Services, Inc. | 2.24% | 32.3 | 23.9 | 1.7 | 0.76% | 1.60% |
| CHRW | C.H. Robinson Worldwide, Inc. | 2.20% | 26.6 | 21.5 | 1.0 | 1.81% | 1.91% |
| FDXF | FedEx Freight Holding Company, Inc. | 1.72% | 25.8 | 22.2 | 1.9 | — | 1.54% |
| KNX | Knight-Swift Transportation Holdings Inc. | 1.38% | 240.0 | 15.6 | 1.4 | 1.23% | 0.13% |
| R | Ryder System, Inc. | 1.36% | 19.4 | 23.1 | 0.7 | 1.69% | 1.62% |
| SAIA | Saia, Inc. | 1.25% | 32.3 | 41.2 | 2.6 | — | 0.89% |
| AAL | American Airlines Group Inc. | 1.18% | — | 5.3 | 0.1 | — | −1.13% |
| KEX | Kirby Corporation | 0.95% | 21.0 | 15.6 | 2.1 | — | 1.05% |
| MATX | Matson, Inc. | 0.93% | 15.8 | 19.2 | 2.0 | 0.65% | 1.36% |
| LYFT | Lyft, Inc. | 0.87% | 2.5 | 9.3 | 0.9 | — | 8.00% |
| LSTR | Landstar System, Inc. | 0.80% | 44.5 | 22.5 | 1.2 | 1.03% | 0.42% |
| GXO | GXO Logistics, Inc. | 0.78% | 41.8 | 13.2 | 0.4 | — | 0.43% |
| UHAL.B | U-Haul Holding Company | 0.71% | 362.9 | 49.0 | 1.6 | 0.39% | 0.05% |
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 IYT valuation
Adding up its 44 holdings with company data, IYT trades at 22.8 times trailing earnings and 15.6 times analysts' forward estimates, with a price-to-book ratio of 4.17 and a dividend yield of 1.23%. Its earnings yield of 4.38% is 0.95 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 72.6% of the fund and earn 86.4% of its combined profit. By sector, Industrials is the most expensive at 27.4 times earnings and Technology the cheapest at 11.9. Companies that lost money over the past year are 3.7% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IYT chart, IYT performance, IYT holdings, IYT dividends.
IYT valuation FAQ
What is the P/E ratio of IYT?
Based on its holdings, IYT has a trailing P/E of 22.8 and a forward P/E of 15.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IYT?
The trailing earnings yield is 4.38% (1 ÷ P/E) and the forward earnings yield 6.41%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IYT more expensive than the S&P 500?
IYT trades at 22.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.6 and 19.9.
What is the price-to-book ratio of IYT?
The holdings of IYT trade at 4.17 times book value, with a combined return on equity of 18.2%.
Which sector in IYT has the highest P/E?
Industrials has the highest P/E at 27.4 and Technology the lowest at 11.9.