iShares U.S. Manufacturing ETF (MADE) Valuation
MADE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 37.7 trailing earnings
- Forward P/E
- 18.2 analyst estimates
- Price / sales
- 1.98
- Price / book
- 4.25
- EV / EBITDA
- 17.7
- Earnings yield
- 2.65% inverse of P/E
- Dividend yield
- 1.05% of the holdings
- Return on equity
- 11.3% combined
- Net margin
- 5.3% combined
- Beta
- 1.22 weighted, vs S&P 500
MADE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MADE | 37.7 | 18.2 | 1.98 | 4.25 | 1.05% | 11.3% | 5.3% | 5.1% |
| 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.
MADE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 75.7% | 30.4 | 21.9 | 2.87 | 5.28 | 1.04% | 17.4% |
| Technology | 16.1% | 33.6 | 17.2 | 3.63 | 4.45 | 0.53% | 13.3% |
| Consumer Cyclical | 7.6% | n/m | 6.7 | 0.39 | 1.43 | 2.32% | −6.3% |
MADE 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 MADE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MADE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| RTX | RTX Corporation | 4.10% | 34.1 | 24.6 | 2.8 | 1.51% | 4.56% |
| DE | Deere & Company | 3.93% | 35.7 | 29.3 | 3.6 | 1.01% | 4.18% |
| ETN | Eaton Corporation plc | 3.83% | 39.8 | 27.6 | 5.1 | 1.12% | 3.65% |
| APH | Amphenol Corporation | 3.83% | 39.7 | 24.6 | 6.7 | 0.63% | 3.66% |
| CAT | Caterpillar Inc. | 3.81% | 31.5 | 25.4 | 4.5 | 0.89% | 4.60% |
| PH | Parker-Hannifin Corporation | 3.79% | 33.8 | 27.5 | 5.7 | 0.83% | 4.26% |
| CMI | Cummins Inc. | 3.46% | 27.2 | 15.4 | 2.1 | 1.66% | 4.83% |
| HON | Honeywell International Inc. | 3.44% | 7.8 | 22.2 | 1.8 | 1.32% | 16.71% |
| TT | Trane Technologies plc | 3.43% | 34.2 | 25.2 | 4.5 | 0.92% | 3.81% |
| GM | General Motors Company | 3.31% | 37.7 | 5.6 | 0.4 | 0.86% | 3.33% |
| PCAR | PACCAR Inc | 3.01% | 23.3 | 15.1 | 2.1 | 1.26% | 4.90% |
| TEL | TE Connectivity Ltd. | 2.94% | 20.8 | 16.6 | 3.2 | 1.47% | 5.36% |
| JCI | Johnson Controls International plc | 2.80% | 41.1 | 23.9 | 3.5 | 1.10% | 2.58% |
| AME | AMETEK, Inc. | 2.70% | 36.3 | 28.2 | 7.2 | 0.55% | 2.83% |
| VRT | Vertiv Holdings Co | 2.64% | 46.7 | 27.8 | 6.9 | 0.12% | 2.15% |
| HONA | Honeywell Aerospace Inc. | 2.63% | 51.2 | 18.3 | 3.0 | — | 1.95% |
| BE | Bloom Energy Corporation | 2.45% | 291.2 | 57.1 | 20.9 | — | 0.32% |
| F | Ford Motor Company | 2.41% | — | 7.0 | 0.3 | 4.83% | −13.60% |
| ROK | Rockwell Automation, Inc. | 2.26% | 39.9 | 29.8 | 5.3 | 1.30% | 2.14% |
| BA | The Boeing Company | 2.19% | 67.9 | 49.5 | 1.6 | — | 1.22% |
| COHR | Coherent, Inc. | 2.06% | 56.5 | 30.5 | 6.4 | — | 1.38% |
| LMT | Lockheed Martin Corporation | 1.85% | 20.3 | 16.2 | 1.7 | 2.61% | 3.44% |
| CARR | Carrier Global Corporation | 1.52% | 39.9 | 16.3 | 2.1 | 1.75% | 1.44% |
| TDY | Teledyne Technologies Incorporated | 1.45% | 29.9 | 23.6 | 4.5 | — | 1.83% |
| GD | General Dynamics Corporation | 1.44% | 21.0 | 18.5 | 1.7 | 1.85% | 2.60% |
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 MADE valuation
Adding up its 111 holdings with company data, MADE trades at 37.7 times trailing earnings and 18.2 times analysts' forward estimates, with a price-to-book ratio of 4.25 and a dividend yield of 1.05%. Its earnings yield of 2.65% is 2.67 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 36.9% of the fund and earn 53.6% of its combined profit. By sector, Technology is the most expensive at 33.6 times earnings and Industrials the cheapest at 30.4. Companies that lost money over the past year are 5.1% 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: MADE chart, MADE performance, MADE holdings, MADE dividends.
MADE valuation FAQ
What is the P/E ratio of MADE?
Based on its holdings, MADE has a trailing P/E of 37.7 and a forward P/E of 18.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MADE?
The trailing earnings yield is 2.65% (1 ÷ P/E) and the forward earnings yield 5.51%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MADE more expensive than the S&P 500?
MADE trades at 37.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.2 and 19.9.
What is the price-to-book ratio of MADE?
The holdings of MADE trade at 4.25 times book value, with a combined return on equity of 11.3%.
Which sector in MADE has the highest P/E?
Technology has the highest P/E at 33.6 and Industrials the lowest at 30.4.