iShares U.S. Telecommunications ETF (IYZ) Valuation
IYZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 40.9 trailing earnings
- Forward P/E
- 13.6 analyst estimates
- Price / sales
- 2.24
- Price / book
- 3.16
- EV / EBITDA
- 14.9
- Earnings yield
- 2.44% inverse of P/E
- Dividend yield
- 1.82% of the holdings
- Return on equity
- 7.7% combined
- Net margin
- 5.5% combined
- Beta
- 1.06 weighted, vs S&P 500
IYZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IYZ | 40.9 | 13.6 | 2.24 | 3.16 | 1.82% | 7.7% | 5.5% | 20.9% |
| 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.
IYZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 52.6% | 73.4 | 25.7 | 8.81 | 10.73 | 0.80% | 14.6% |
| Communication Services | 41.9% | 24.5 | 8.2 | 1.10 | 1.61 | 3.28% | 6.6% |
| Industrials | 4.0% | n/m | 200.0 | 83.53 | 15.37 | 0.00% | −6.8% |
IYZ 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 IYZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IYZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CSCO | Cisco Systems, Inc. | 23.02% | 32.2 | 19.8 | 6.7 | 1.56% | 29.63% |
| VZ | Verizon Communications Inc. | 11.29% | 11.7 | 8.7 | 1.3 | 6.32% | 40.17% |
| ANET | Arista Networks, Inc. | 10.54% | 55.8 | 39.2 | 21.2 | — | 7.84% |
| T | AT&T Inc. | 4.50% | 7.7 | 9.9 | 1.3 | 4.74% | 24.15% |
| SPCX | Space Exploration Technologies Corp. | 4.03% | — | 200.0 | 83.5 | — | −0.74% |
| MSI | Motorola Solutions, Inc. | 3.91% | 36.5 | 23.9 | 6.3 | 1.05% | 4.45% |
| CMCSA | Comcast Corporation | 3.61% | 7.1 | 5.9 | 0.6 | 6.03% | 21.22% |
| TMUS | T-Mobile US, Inc. | 3.44% | 16.6 | 11.7 | 1.9 | 2.94% | 8.58% |
| ROKU | Roku, Inc | 3.35% | 65.8 | 39.1 | 4.4 | — | 2.12% |
| CIEN | Ciena Corporation | 3.22% | 74.4 | 39.8 | 7.8 | — | 1.80% |
| UI | Ubiquiti Inc. | 3.19% | 37.9 | 28.5 | 11.1 | 0.67% | 3.49% |
| GSAT | Globalstar, Inc | 2.86% | — | 9.2 | 38.0 | — | −0.69% |
| ECHO | EchoStar Corporation | 2.85% | — | 4.7 | 1.7 | — | −18.79% |
| LITE | Lumentum Holdings Inc. | 2.82% | — | 42.9 | 24.8 | — | −13.19% |
| IRDM | Iridium Communications Inc | 2.63% | 49.7 | 24.5 | 5.2 | 1.37% | 2.19% |
| TIGO | Millicom International Cellular S.A | 2.62% | 20.9 | 10.0 | 1.9 | 3.62% | 5.20% |
| CHTR | Charter Communications, Inc. | 2.60% | 2.9 | 2.5 | 0.3 | — | 37.64% |
| VIAV | Viavi Solutions Inc. | 2.22% | — | 22.1 | 5.4 | — | −0.36% |
| ASTS | AST SpaceMobile Inc | 1.88% | — | — | 137.2 | — | −3.14% |
| AAOI | Applied Optoelectronics, Inc. | 1.82% | — | 84.0 | 10.8 | — | −0.75% |
| LBTYA | Liberty Global Plc | 1.24% | — | 54.9 | 0.5 | — | −30.51% |
| LBTYK | Liberty Global Plc | 0.94% | — | 58.1 | 0.5 | — | −20.29% |
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 IYZ valuation
Adding up its 22 holdings with company data, IYZ trades at 40.9 times trailing earnings and 13.6 times analysts' forward estimates, with a price-to-book ratio of 3.16 and a dividend yield of 1.82%. Its earnings yield of 2.44% is 2.88 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 70.9% of the fund and earn 139.2% of its combined profit. By sector, Technology is the most expensive at 73.4 times earnings and Communication Services the cheapest at 24.5. Companies that lost money over the past year are 20.9% 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: IYZ chart, IYZ performance, IYZ holdings, IYZ dividends.
IYZ valuation FAQ
What is the P/E ratio of IYZ?
Based on its holdings, IYZ has a trailing P/E of 40.9 and a forward P/E of 13.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IYZ?
The trailing earnings yield is 2.44% (1 ÷ P/E) and the forward earnings yield 7.34%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IYZ more expensive than the S&P 500?
IYZ trades at 40.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.6 and 19.9.
What is the price-to-book ratio of IYZ?
The holdings of IYZ trade at 3.16 times book value, with a combined return on equity of 7.7%.
Which sector in IYZ has the highest P/E?
Technology has the highest P/E at 73.4 and Communication Services the lowest at 24.5.