Neuberger Berman ETF (NBSM) Valuation
NBSM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 21.7 trailing earnings
- Forward P/E
- 16.9 analyst estimates
- Price / sales
- 2.42
- Price / book
- 2.66
- EV / EBITDA
- 13.6
- Earnings yield
- 4.61% inverse of P/E
- Dividend yield
- 1.02% of the holdings
- Return on equity
- 12.2% combined
- Net margin
- 11.2% combined
- Beta
- 0.90 weighted, vs S&P 500
NBSM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| NBSM | 21.7 | 16.9 | 2.42 | 2.66 | 1.02% | 12.2% | 11.2% | 3.2% |
| 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.
NBSM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 22.4% | 26.4 | 18.5 | 1.94 | 3.20 | 0.45% | 12.1% |
| Financial Services | 17.4% | 12.8 | 15.3 | 2.35 | 1.63 | 1.60% | 12.7% |
| Healthcare | 16.0% | 42.7 | 19.3 | 3.68 | 3.51 | 0.28% | 8.2% |
| Technology | 12.9% | 46.0 | 22.4 | 4.79 | 4.84 | 0.51% | 10.5% |
| Energy | 5.8% | 13.5 | 14.8 | 3.39 | 1.82 | 1.83% | 13.5% |
| Utilities | 5.0% | 16.7 | 11.6 | 1.90 | 1.94 | 3.33% | 11.6% |
| Consumer Cyclical | 4.6% | 22.2 | 16.5 | 1.53 | 6.99 | 1.09% | 31.5% |
| Basic Materials | 2.7% | 15.4 | 12.6 | 1.75 | 2.64 | 0.83% | 17.2% |
| Services | 1.5% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
| Consumer Defensive | 1.4% | 20.8 | 19.2 | 1.98 | 2.59 | 0.00% | 12.4% |
| Communication Services | 1.1% | 31.2 | 8.9 | 0.86 | 2.28 | 4.52% | 7.3% |
NBSM 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 NBSM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
NBSM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WTM | White Mountains Insurance Group, Ltd. | 3.01% | 4.9 | 13.9 | 1.7 | 0.05% | 14.77% |
| HAE | Haemonetics Corporation | 2.44% | 57.1 | 20.3 | 4.0 | — | 1.04% |
| TYL | Tyler Technologies, Inc. | 2.39% | 47.5 | 23.7 | 6.1 | — | 1.22% |
| RYAN | Ryan Specialty Holdings, Inc. | 2.31% | 57.4 | 14.6 | 3.3 | 1.28% | 0.98% |
| HGTY | Hagerty, Inc. | 2.31% | 139.1 | 24.0 | 3.7 | — | 0.40% |
| UGI | UGI Corporation | 2.27% | 12.8 | 7.7 | 1.1 | 3.90% | 4.32% |
| RVTY | Revvity, Inc. | 2.21% | 73.0 | 24.2 | 5.8 | 0.18% | 0.73% |
| KEX | Kirby Corporation | 2.16% | 21.0 | 15.6 | 2.1 | — | 2.51% |
| GTES | Gates Industrial Corporation plc | 2.09% | 18.3 | 13.9 | 1.9 | — | 2.76% |
| SPSC | SPS Commerce, Inc. | 2.06% | 41.2 | 68.0 | 4.0 | — | 1.21% |
| TDW | Tidewater Inc. | 1.99% | 16.2 | 36.4 | 2.9 | — | 2.98% |
| FSV | FirstService Corp | 1.96% | — | — | — | — | — |
| JKHY | Jack Henry & Associates, Inc. | 1.86% | 21.9 | 20.2 | 4.2 | 1.59% | 2.06% |
| ATR | AptarGroup, Inc. | 1.76% | 22.5 | 19.8 | 2.0 | 1.54% | 1.90% |
| CBU | Community Bank System, Inc. | 1.63% | 14.0 | 15.8 | 3.8 | 3.15% | 2.83% |
| CWST | Casella Waste Systems, Inc. | 1.62% | 977.8 | 56.2 | 2.9 | — | 0.04% |
| CNM | Core & Main, Inc. | 1.62% | 17.3 | 17.2 | 1.0 | — | 2.28% |
| EPAC | Enerpac Tool Group Corp. | 1.60% | 20.0 | 17.2 | 2.9 | 0.11% | 1.95% |
| VLTO | Veralto Corporation | 1.58% | 25.8 | 20.0 | 4.3 | 0.51% | 1.49% |
| PB | Prosperity Bancshares, Inc. | 1.54% | 11.7 | 9.3 | 5.9 | 3.54% | 3.19% |
| WLY | John Wiley & Sons Inc. | 1.52% | 14.2 | 15.3 | 1.6 | 2.71% | 2.60% |
| MKSI | MKS Instruments, Inc. | 1.52% | 34.2 | 10.4 | 3.3 | 0.47% | 1.08% |
| VMI | Valmont Industries, Inc. | 1.51% | 17.4 | 18.3 | 2.0 | 0.69% | 2.11% |
| UMBF | UMB Financial Corporation | 1.49% | 10.9 | 9.6 | 3.5 | 1.53% | 3.31% |
| HALO | Halozyme Therapeutics, Inc. | 1.48% | 35.6 | 11.5 | 8.3 | — | 1.01% |
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 NBSM valuation
Adding up its 62 holdings with company data, NBSM trades at 21.7 times trailing earnings and 16.9 times analysts' forward estimates, with a price-to-book ratio of 2.66 and a dividend yield of 1.02%. Its earnings yield of 4.61% is 0.72 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 23.2% of the fund and earn 29.9% of its combined profit. By sector, Technology is the most expensive at 46.0 times earnings and Financial Services the cheapest at 12.8. Companies that lost money over the past year are 3.2% 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 93.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: NBSM chart, NBSM performance, NBSM holdings, NBSM dividends.
NBSM valuation FAQ
What is the P/E ratio of NBSM?
Based on its holdings, NBSM has a trailing P/E of 21.7 and a forward P/E of 16.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of NBSM?
The trailing earnings yield is 4.61% (1 ÷ P/E) and the forward earnings yield 5.91%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is NBSM more expensive than the S&P 500?
NBSM trades at 21.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.9 and 19.9.
What is the price-to-book ratio of NBSM?
The holdings of NBSM trade at 2.66 times book value, with a combined return on equity of 12.2%.
Which sector in NBSM has the highest P/E?
Technology has the highest P/E at 46.0 and Financial Services the lowest at 12.8.