NXG NextGen Infrastructure Income Fund (NXG) Valuation
NXG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 49.2 trailing earnings
- Forward P/E
- 23.0 analyst estimates
- Price / sales
- 2.40
- Price / book
- 5.03
- EV / EBITDA
- 18.2
- Earnings yield
- 2.03% inverse of P/E
- Dividend yield
- 1.41% of the holdings
- Return on equity
- 10.2% combined
- Net margin
- 4.9% combined
- Beta
- 1.26 weighted, vs S&P 500
NXG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| NXG | 49.2 | 23.0 | 2.40 | 5.03 | 1.41% | 10.2% | 4.9% | 14.2% |
| 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.
NXG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 24.4% | n/m | 55.6 | 12.74 | 12.22 | 0.01% | −4.9% |
| Energy | 24.2% | 23.1 | 16.8 | 1.36 | 2.90 | 3.89% | 12.5% |
| Utilities | 19.1% | 31.0 | 14.0 | 2.09 | 3.65 | 1.61% | 11.8% |
| Industrials | 17.6% | 38.9 | 28.4 | 2.79 | 10.45 | 0.16% | 26.9% |
| Communication Services | 3.2% | 49.7 | 24.5 | 5.25 | 10.83 | 1.37% | 21.8% |
| Real Estate | 1.3% | 85.4 | 66.2 | 9.84 | 2.52 | 2.77% | 3.0% |
| Financial Services | 1.1% | n/m | 153.4 | 18.18 | 5.58 | 0.00% | −95.7% |
| Basic Materials | 0.9% | 38.8 | 29.7 | 4.81 | 7.71 | 1.01% | 19.9% |
| Consumer Cyclical | 0.2% | 51.2 | — | 0.07 | 1.21 | 2.93% | 2.4% |
NXG 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 NXG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
NXG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| PANW | Palo Alto Networks, Inc. | 5.28% | 855.0 | 94.3 | 24.4 | — | 0.34% |
| CRWD | CrowdStrike Holdings, Inc. | 5.17% | — | 208.3 | 43.1 | — | 0.08% |
| NET | Cloudflare, Inc. | 4.20% | — | 178.6 | 42.0 | — | −0.42% |
| BE | Bloom Energy Corporation | 3.84% | 291.2 | 57.1 | 20.9 | — | 0.74% |
| GEV | GE Vernova Inc. | 3.68% | 26.4 | 38.8 | 5.9 | 0.22% | 7.78% |
| TRGP | Targa Resources Corp. | 3.08% | 28.2 | 23.2 | 3.8 | 1.70% | 6.09% |
| PWR | Quanta Services, Inc. | 3.07% | 72.4 | 33.0 | 2.9 | 0.07% | 2.37% |
| VST | Vistra Corp. | 2.78% | 25.6 | 13.3 | 2.7 | 0.61% | 6.07% |
| TLN | Talen Energy Corporation | 2.78% | — | 9.9 | 4.5 | — | −1.81% |
| CEG | Constellation Energy Corporation | 2.70% | 26.5 | 20.7 | 3.1 | 0.63% | 5.68% |
| NRG | NRG Energy, Inc. | 2.35% | 27.2 | 9.0 | 0.7 | 1.83% | 4.83% |
| DOCN | DigitalOcean Holdings, Inc. | 2.34% | 45.5 | 76.3 | 11.5 | — | 2.88% |
| IRDM | Iridium Communications Inc | 2.22% | 49.7 | 24.5 | 5.2 | 1.37% | 2.49% |
| AGX | Argan, Inc. | 2.13% | 27.3 | 16.6 | 4.1 | 0.81% | 4.36% |
| MPLX | MPLX LP | 2.11% | 12.5 | 12.2 | 4.9 | 7.40% | 9.44% |
| SOI | Solaris Oilfield Infrastructure Inc | 2.03% | — | — | — | — | — |
| KNTK | Kinetik Holdings Inc. | 1.98% | 19.3 | 21.4 | 5.0 | 5.86% | 5.72% |
| DY | Dycom Industries, Inc. | 1.88% | 23.2 | 25.1 | 1.1 | — | 4.54% |
| MTZ | MasTec, Inc. | 1.83% | 30.5 | 18.1 | 1.0 | — | 3.35% |
| SNOW | Snowflake Inc. | 1.77% | — | 169.5 | 19.9 | — | −1.03% |
| DTM | DT Midstream, Inc. | 1.76% | 27.1 | 22.1 | 9.6 | 2.85% | 3.63% |
| WES | Western Midstream Partners, LP | 1.57% | 14.1 | 11.3 | 4.3 | 8.34% | 6.20% |
| FGXXX | First American Funds Inc. - Government Obligations Fund | 1.53% | — | — | — | — | — |
| FXFXX | First American Funds Inc. - Treasury Obligations Fund | 1.53% | — | — | — | — | — |
| ETR | Entergy Corporation | 1.50% | 26.9 | 19.6 | 3.7 | 2.44% | 3.12% |
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 NXG valuation
Adding up its 55 holdings with company data, NXG trades at 49.2 times trailing earnings and 23.0 times analysts' forward estimates, with a price-to-book ratio of 5.03 and a dividend yield of 1.41%. Its earnings yield of 2.03% is 3.29 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 36.6% of the fund and earn 26.9% of its combined profit. By sector, Real Estate is the most expensive at 85.4 times earnings and Energy the cheapest at 23.1. Companies that lost money over the past year are 14.2% 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 92.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: NXG chart, NXG performance, NXG holdings, NXG dividends.
NXG valuation FAQ
What is the P/E ratio of NXG?
Based on its holdings, NXG has a trailing P/E of 49.2 and a forward P/E of 23.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of NXG?
The trailing earnings yield is 2.03% (1 ÷ P/E) and the forward earnings yield 4.35%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is NXG more expensive than the S&P 500?
NXG trades at 49.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.0 and 19.9.
What is the price-to-book ratio of NXG?
The holdings of NXG trade at 5.03 times book value, with a combined return on equity of 10.2%.
Which sector in NXG has the highest P/E?
Real Estate has the highest P/E at 85.4 and Energy the lowest at 23.1.