NPF Core Equity ETF (NPFE) Valuation
NPFE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 28.3 trailing earnings
- Forward P/E
- 20.0 analyst estimates
- Price / sales
- 3.40
- Price / book
- 5.44
- EV / EBITDA
- 16.8
- Earnings yield
- 3.53% inverse of P/E
- Dividend yield
- 0.86% of the holdings
- Return on equity
- 19.2% combined
- Net margin
- 12.0% combined
- Beta
- 1.05 weighted, vs S&P 500
NPFE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| NPFE | 28.3 | 20.0 | 3.40 | 5.44 | 0.86% | 19.2% | 12.0% | 1.5% |
| 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.
NPFE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 33.5% | 33.3 | 21.3 | 2.91 | 6.63 | 0.56% | 19.9% |
| Consumer Cyclical | 14.1% | 19.4 | 14.7 | 1.91 | 4.36 | 0.90% | 22.5% |
| Industrials | 13.4% | 33.4 | 20.5 | 3.86 | 5.97 | 1.42% | 17.9% |
| Financial Services | 13.2% | 23.1 | 23.2 | 6.62 | 4.42 | 0.53% | 19.1% |
| Healthcare | 12.3% | 44.4 | 19.1 | 4.95 | 4.18 | 1.41% | 9.4% |
| Basic Materials | 6.8% | 32.8 | 24.5 | 4.57 | 7.88 | 1.11% | 24.0% |
| Communication Services | 5.3% | 18.6 | 22.5 | 8.72 | 6.85 | 0.28% | 36.7% |
| Consumer Defensive | 0.2% | 21.2 | 16.2 | 1.42 | 6.06 | 3.54% | 28.6% |
| Energy | 0.1% | 19.9 | 11.5 | 1.45 | 3.26 | 2.09% | 16.3% |
| Utilities | 0.1% | 21.9 | 15.6 | 2.96 | 2.07 | 3.07% | 9.5% |
| Real Estate | 0.0% | 46.1 | 37.9 | 8.97 | 1.51 | 5.12% | 3.3% |
NPFE 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 NPFE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
NPFE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 10.62% | 29.5 | 25.1 | 11.8 | 0.74% | 10.32% |
| BALL | Ball Corporation | 4.16% | 18.0 | 13.2 | 1.2 | 1.27% | 6.62% |
| V | Visa Inc. | 4.15% | 34.3 | 24.0 | 17.0 | 0.67% | 3.47% |
| GOOGL | Alphabet Inc. | 4.06% | 17.1 | 22.8 | 9.3 | 0.26% | 6.81% |
| AMZN | Amazon.com, Inc. | 3.92% | 20.1 | 23.6 | 3.5 | — | 5.58% |
| ALSN | Allison Transmission Holdings, Inc. | 3.70% | 17.8 | 10.2 | 2.1 | 1.04% | 5.97% |
| BRK.B | Berkshire Hathaway Inc. | 3.62% | 13.4 | 22.7 | 3.0 | — | 7.74% |
| NVDA | NVIDIA Corporation | 3.55% | 27.1 | 24.9 | 17.1 | 0.47% | 3.75% |
| DHR | Danaher Corporation | 3.45% | 40.8 | 23.8 | 6.4 | 0.70% | 2.42% |
| VRSK | Verisk Analytics, Inc. | 3.45% | 29.3 | 20.1 | 8.0 | 1.05% | 3.37% |
| MRK | Merck & Co., Inc. | 3.07% | 115.8 | 15.3 | 5.4 | 2.33% | 0.76% |
| LIN | Linde plc | 3.02% | 32.2 | 23.6 | 6.5 | 1.28% | 2.68% |
| AMAT | Applied Materials, Inc. | 2.92% | 35.3 | 23.4 | 10.5 | 0.52% | 2.37% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 2.84% | 26.7 | 21.4 | 0.4 | 0.91% | 3.04% |
| WM | Waste Management, Inc. | 2.81% | 32.1 | 22.5 | 3.5 | 1.67% | 2.50% |
| UNP | Union Pacific Corporation | 2.74% | 23.4 | 19.3 | 6.8 | 1.97% | 3.35% |
| MCO | Moody's Corporation | 2.72% | 30.8 | 24.3 | 10.3 | 0.85% | 2.53% |
| ABT | Abbott Laboratories | 2.47% | 33.8 | 17.1 | 3.9 | 2.40% | 2.09% |
| MA | Mastercard Incorporated | 2.46% | 34.0 | 24.2 | 15.4 | 0.56% | 2.07% |
| SHW | The Sherwin-Williams Company | 2.32% | 30.9 | 23.8 | 3.3 | 0.95% | 2.15% |
| TMO | Thermo Fisher Scientific Inc. | 2.32% | 37.1 | 24.2 | 5.5 | 0.27% | 1.79% |
| KNX | Knight-Swift Transportation Holdings Inc. | 1.78% | 240.0 | 15.6 | 1.4 | 1.23% | 0.21% |
| COHR | Coherent, Inc. | 1.73% | 56.5 | 30.5 | 6.4 | — | 0.87% |
| MSI | Motorola Solutions, Inc. | 1.72% | 36.5 | 23.9 | 6.3 | 1.05% | 1.35% |
| ETN | Eaton Corporation plc | 1.45% | 39.8 | 27.6 | 5.1 | 1.12% | 1.04% |
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 NPFE valuation
Adding up its 147 holdings with company data, NPFE trades at 28.3 times trailing earnings and 20.0 times analysts' forward estimates, with a price-to-book ratio of 5.44 and a dividend yield of 0.86%. Its earnings yield of 3.53% is 1.80 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 44.7% of the fund and earn 56.0% of its combined profit. By sector, Real Estate is the most expensive at 46.1 times earnings and Communication Services the cheapest at 18.6. Companies that lost money over the past year are 1.5% 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 99.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: NPFE chart, NPFE holdings, NPFE dividends.
NPFE valuation FAQ
What is the P/E ratio of NPFE?
Based on its holdings, NPFE has a trailing P/E of 28.3 and a forward P/E of 20.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of NPFE?
The trailing earnings yield is 3.53% (1 ÷ P/E) and the forward earnings yield 4.99%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is NPFE more expensive than the S&P 500?
NPFE trades at 28.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.0 and 19.9.
What is the price-to-book ratio of NPFE?
The holdings of NPFE trade at 5.44 times book value, with a combined return on equity of 19.2%.
Which sector in NPFE has the highest P/E?
Real Estate has the highest P/E at 46.1 and Communication Services the lowest at 18.6.