JPMorgan U.S. Value Factor ETF (JVAL) Valuation

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

JVAL valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 19.7
Forward P/E: 13.1
Price / sales: 1.46
Price / book: 2.71
EV / EBITDA: 12.4
Earnings yield: 5.07%
Dividend yield: 1.87%
Return on equity: 13.8%
Net margin: 7.4%
Beta: 1.04

JVAL valuation vs other stock ETFs

P/E (TTM)Forward P/E

JVAL valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
JVAL	19.7	13.1	1.46	2.71	1.87%	13.8%	7.4%	3.9%
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.

JVAL valuation by sector

P/E (TTM)Forward P/E

JVAL valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	38.3%	23.5	15.9	2.58	5.27	0.78%	22.4%
Consumer Cyclical	10.9%	16.9	11.3	0.71	2.47	2.03%	14.6%
Financial Services	10.4%	10.8	9.1	1.78	1.27	3.01%	11.7%
Healthcare	10.0%	33.9	13.6	1.13	3.08	2.06%	9.1%
Communication Services	8.1%	17.2	14.2	2.57	3.01	1.57%	17.5%
Industrials	7.9%	20.3	13.1	1.11	2.67	1.93%	13.1%
Energy	4.1%	14.8	11.1	1.76	1.76	2.51%	11.9%
Consumer Defensive	3.6%	60.0	10.9	0.48	1.96	4.10%	3.3%
Basic Materials	2.2%	30.7	11.8	1.10	1.97	2.55%	6.4%
Utilities	2.2%	15.8	14.1	2.01	1.59	4.04%	10.1%
Real Estate	2.2%	15.3	14.9	5.63	1.43	7.19%	9.3%

JVAL earnings yield vs bond yields

JVAL earnings yield (forward)

7.60%

JVAL earnings yield (trailing)

5.07%

JVAL dividend yield

1.87%

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 JVAL weight splits by P/E

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

JVAL largest holdings: valuation

JVAL largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
AAPL	Apple Inc.	2.18%	39.4	35.2	10.7	0.31%	1.11%
META	Meta Platforms, Inc.	2.09%	26.7	22.1	7.9	0.30%	1.56%
MSFT	Microsoft Corporation	2.05%	29.5	25.1	11.8	0.74%	1.39%
GOOGL	Alphabet Inc.	2.02%	17.1	22.8	9.3	0.26%	2.37%
NVDA	NVIDIA Corporation	1.81%	27.1	24.9	17.1	0.47%	1.33%
MU	Micron Technology, Inc.	1.77%	11.8	7.0	7.5	0.07%	3.00%
AVGO	Broadcom Inc.	1.71%	43.3	19.4	17.6	0.79%	0.79%
JNJ	Johnson & Johnson	1.54%	38.8	21.0	6.2	2.10%	0.80%
TXN	Texas Instruments Incorporated	0.92%	42.1	27.5	13.0	2.20%	0.44%
MRK	Merck & Co., Inc.	0.91%	115.8	15.3	5.4	2.33%	0.16%
CVX	Chevron Corporation	0.87%	21.2	15.2	2.1	3.16%	0.82%
LRCX	Lam Research Corporation	0.83%	45.8	33.7	14.2	0.50%	0.36%
IBM	International Business Machines Corporation	0.81%	20.6	17.4	3.2	2.91%	0.79%
AMAT	Applied Materials, Inc.	0.77%	35.3	23.4	10.5	0.52%	0.44%
CRM	Salesforce, Inc.	0.75%	22.0	14.0	4.5	0.73%	0.68%
CSCO	Cisco Systems, Inc.	0.73%	32.2	19.8	6.7	1.56%	0.45%
GILD	Gilead Sciences, Inc.	0.72%	—	15.6	6.4	2.10%	−0.24%
QCOM	QUALCOMM Incorporated	0.71%	19.9	19.6	4.2	2.14%	0.72%
ADI	Analog Devices, Inc.	0.69%	47.0	23.2	13.8	1.11%	0.29%
C	Citigroup Inc.	0.63%	12.1	10.2	2.5	2.16%	1.03%
ORCL	Oracle Corporation	0.63%	20.1	17.8	5.4	1.56%	0.62%
APH	Amphenol Corporation	0.61%	39.7	24.6	6.7	0.63%	0.31%
SNDK	Sandisk Corporation	0.61%	17.6	8.0	9.3	—	0.69%
HD	The Home Depot, Inc.	0.59%	21.5	19.8	1.8	3.01%	0.54%
DIS	The Walt Disney Company	0.58%	22.8	13.8	1.9	1.36%	0.51%

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 JVAL valuation

Adding up its 384 holdings with company data, JVAL trades at 19.7 times trailing earnings and 13.1 times analysts' forward estimates, with a price-to-book ratio of 2.71 and a dividend yield of 1.87%. Its earnings yield of 5.07% is 0.26 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 17.0% of the fund and earn 12.9% of its combined profit. By sector, Consumer Defensive is the most expensive at 60.0 times earnings and Financial Services the cheapest at 10.8. Companies that lost money over the past year are 3.9% 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 98.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

JVAL valuation FAQ

What is the P/E ratio of JVAL?

Based on its holdings, JVAL has a trailing P/E of 19.7 and a forward P/E of 13.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of JVAL?

The trailing earnings yield is 5.07% (1 ÷ P/E) and the forward earnings yield 7.60%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is JVAL more expensive than the S&P 500?

JVAL trades at 19.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.1 and 19.9.

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

The holdings of JVAL trade at 2.71 times book value, with a combined return on equity of 13.8%.

Which sector in JVAL has the highest P/E?

Consumer Defensive has the highest P/E at 60.0 and Financial Services the lowest at 10.8.