Leuthold Select Industries ETF (LST) Valuation
LST valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 18.5 trailing earnings
- Forward P/E
- 13.6 analyst estimates
- Price / sales
- 0.95
- Price / book
- 3.06
- EV / EBITDA
- 11.4
- Earnings yield
- 5.40% inverse of P/E
- Dividend yield
- 1.28% of the holdings
- Return on equity
- 16.5% combined
- Net margin
- 5.1% combined
- Beta
- 0.84 weighted, vs S&P 500
LST valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| LST | 18.5 | 13.6 | 0.95 | 3.06 | 1.28% | 16.5% | 5.1% | 2.2% |
| 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.
LST valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 32.3% | 22.5 | 14.9 | 1.24 | 4.01 | 0.86% | 17.8% |
| Healthcare | 23.5% | 30.6 | 14.6 | 0.60 | 3.89 | 1.35% | 12.7% |
| Energy | 11.9% | 15.2 | 11.0 | 1.08 | 2.32 | 1.95% | 15.3% |
| Financial Services | 9.3% | 7.9 | 9.0 | 1.05 | 1.38 | 1.16% | 17.4% |
| Consumer Defensive | 9.3% | 19.9 | 17.7 | 1.13 | 3.76 | 0.97% | 18.9% |
| Industrials | 7.3% | 17.5 | 13.8 | 0.83 | 2.77 | 2.82% | 15.8% |
| Communication Services | 4.2% | 21.3 | 21.7 | 6.79 | 5.30 | 0.51% | 24.8% |
| Consumer Cyclical | 1.4% | 10.3 | 9.4 | 0.92 | 2.17 | 1.51% | 21.1% |
LST 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 LST weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
LST largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MCK | McKesson Corporation | 2.11% | 26.9 | 19.7 | 0.3 | 0.37% | 1.49% |
| CAH | Cardinal Health, Inc. | 2.07% | 35.1 | 17.7 | 0.2 | 0.81% | 1.12% |
| MSFT | Microsoft Corporation | 2.03% | 29.5 | 25.1 | 11.8 | 0.74% | 1.31% |
| DELL | Dell Technologies Inc. | 2.00% | 26.3 | 21.3 | 1.9 | 0.56% | 1.45% |
| GOOGL | Alphabet Inc. | 1.90% | 17.1 | 22.8 | 9.3 | 0.26% | 2.12% |
| AMD | Advanced Micro Devices, Inc. | 1.75% | 134.9 | 39.5 | 20.9 | — | 0.25% |
| META | Meta Platforms, Inc. | 1.68% | 26.7 | 22.1 | 7.9 | 0.30% | 1.19% |
| CSCO | Cisco Systems, Inc. | 1.63% | 32.2 | 19.8 | 6.7 | 1.56% | 0.96% |
| UNH | UnitedHealth Group Incorporated | 1.58% | 25.8 | 16.6 | 0.8 | 2.31% | 1.16% |
| NOW | ServiceNow, Inc. | 1.43% | 88.7 | 27.8 | 10.0 | — | 0.31% |
| RNR | RenaissanceRe Holdings Ltd. | 1.40% | 6.1 | 8.1 | 1.3 | 0.47% | 4.39% |
| PAYC | Paycom Software, Inc. | 1.35% | 26.6 | 16.7 | 5.3 | 0.60% | 0.96% |
| FDX | FedEx Corporation | 1.32% | 15.8 | 14.2 | 0.7 | 1.66% | 1.59% |
| UPS | United Parcel Service, Inc. | 1.32% | 18.1 | 12.0 | 0.9 | 6.73% | 1.39% |
| EG | Everest Group, Ltd. | 1.29% | 8.2 | 6.2 | 0.9 | 2.06% | 2.99% |
| MPC | Marathon Petroleum Corporation | 1.26% | 16.6 | 5.5 | 0.9 | 0.84% | 1.45% |
| COR | Cencora | 1.26% | 25.3 | 15.7 | 0.2 | 0.70% | 0.95% |
| DINO | HF Sinclair Corporation | 1.19% | 11.9 | 10.0 | 0.7 | 1.68% | 1.89% |
| AMGN | Amgen Inc. | 1.17% | 26.9 | 16.7 | 6.1 | 2.33% | 0.83% |
| XOM | Exxon Mobil Corporation | 1.14% | 23.0 | 14.8 | 2.0 | 2.30% | 0.94% |
| CVX | Chevron Corporation | 1.13% | 21.2 | 15.2 | 2.1 | 3.16% | 1.02% |
| GILD | Gilead Sciences, Inc. | 1.12% | — | 15.6 | 6.4 | 2.10% | −0.36% |
| REGN | Regeneron Pharmaceuticals, Inc. | 1.12% | 19.6 | 14.5 | 5.2 | 0.48% | 1.09% |
| RGA | Reinsurance Group of America, Incorporated | 1.11% | 11.7 | 7.7 | 0.7 | 1.47% | 1.80% |
| TEL | TE Connectivity Ltd. | 1.10% | 20.8 | 16.6 | 3.2 | 1.47% | 1.00% |
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 LST valuation
Adding up its 115 holdings with company data, LST trades at 18.5 times trailing earnings and 13.6 times analysts' forward estimates, with a price-to-book ratio of 3.06 and a dividend yield of 1.28%. Its earnings yield of 5.40% is 0.08 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 18.2% of the fund and earn 11.4% of its combined profit. By sector, Healthcare is the most expensive at 30.6 times earnings and Financial Services the cheapest at 7.9. Companies that lost money over the past year are 2.2% 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 98.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: LST chart, LST performance, LST holdings, LST dividends.
LST valuation FAQ
What is the P/E ratio of LST?
Based on its holdings, LST has a trailing P/E of 18.5 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 LST?
The trailing earnings yield is 5.40% (1 ÷ P/E) and the forward earnings yield 7.33%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is LST more expensive than the S&P 500?
LST trades at 18.5 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 LST?
The holdings of LST trade at 3.06 times book value, with a combined return on equity of 16.5%.
Which sector in LST has the highest P/E?
Healthcare has the highest P/E at 30.6 and Financial Services the lowest at 7.9.