ProShares Online Retail (ONLN) Valuation
ONLN valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 35.2 trailing earnings
- Forward P/E
- 18.4 analyst estimates
- Price / sales
- 0.56
- Price / book
- 4.44
- EV / EBITDA
- 12.9
- Earnings yield
- 2.84% inverse of P/E
- Dividend yield
- 0.30% of the holdings
- Return on equity
- 12.6% combined
- Net margin
- 1.6% combined
- Beta
- 1.45 weighted, vs S&P 500
ONLN valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ONLN | 35.2 | 18.4 | 0.56 | 4.44 | 0.30% | 12.6% | 1.6% | 16.0% |
| 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.
ONLN valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Consumer Cyclical | 97.9% | 37.1 | 18.9 | 0.55 | 4.48 | 0.31% | 12.1% |
| Technology | 3.3% | 13.6 | 11.0 | 1.40 | 3.51 | 0.00% | 25.8% |
ONLN 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 ONLN weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ONLN largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AMZN | Amazon.com, Inc. | 23.77% | 20.1 | 23.6 | 3.5 | — | 41.09% |
| EBAY | eBay Inc. | 8.73% | 25.3 | 16.6 | 4.5 | 1.03% | 11.98% |
| BABA | Alibaba Group Holding Limited | 7.68% | 26.4 | 17.9 | 0.3 | 0.96% | 10.11% |
| FIGS | FIGS, Inc. | 4.62% | 57.9 | 31.5 | 4.5 | — | 2.77% |
| PDD | PDD Holdings Inc. | 4.49% | 9.1 | 6.2 | 0.3 | — | 17.12% |
| ETSY | Etsy, Inc. | 4.06% | 24.9 | 14.9 | 2.7 | — | 5.66% |
| CVNA | Carvana Co. | 4.03% | 31.1 | 29.9 | 2.6 | — | 4.50% |
| WSM | Williams-Sonoma, Inc. | 3.98% | 25.7 | 24.6 | 3.7 | 1.22% | 5.39% |
| MELI | MercadoLibre, Inc. | 3.95% | 50.5 | 32.8 | 2.6 | — | 2.72% |
| CHWY | Chewy, Inc. | 3.76% | 32.3 | 12.8 | 0.6 | — | 4.05% |
| W | Wayfair Inc. | 3.69% | — | 25.8 | 1.1 | — | −2.50% |
| CPNG | Coupang, Inc. | 3.53% | — | 69.4 | 0.7 | — | −3.37% |
| REAL | The RealReal, Inc. | 3.32% | — | 38.2 | 1.7 | — | −10.45% |
| GCT | GigaCloud Technology Inc. | 3.26% | 13.6 | 11.0 | 1.4 | — | 8.33% |
| RVLV | Revolve Group, Inc. | 3.06% | 22.6 | 18.2 | 1.2 | — | 4.71% |
| LQDT | Liquidity Services, Inc. | 2.87% | 43.0 | 24.6 | 2.8 | — | 2.32% |
| PTRN | Pattern Group Inc. | 2.84% | — | — | 1.0 | — | −6.43% |
| TDUP | ThredUp Inc. | 2.81% | — | — | 0.9 | — | −6.37% |
| JD | JD.com, Inc. | 2.48% | 18.9 | 6.7 | 0.0 | 3.70% | 4.57% |
| SE | Sea Limited | 2.42% | 36.2 | 25.8 | 2.1 | — | 2.33% |
| GLBE | Global-e Online Ltd. | 1.84% | 44.1 | 37.3 | 5.9 | — | 1.45% |
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 ONLN valuation
Adding up its 21 holdings with company data, ONLN trades at 35.2 times trailing earnings and 18.4 times analysts' forward estimates, with a price-to-book ratio of 4.44 and a dividend yield of 0.30%. Its earnings yield of 2.84% is 2.48 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 69.1% of the fund and earn 105.4% of its combined profit. By sector, Consumer Cyclical is the most expensive at 37.1 times earnings and Technology the cheapest at 13.6. Companies that lost money over the past year are 16.0% 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: ONLN chart, ONLN performance, ONLN holdings, ONLN dividends.
ONLN valuation FAQ
What is the P/E ratio of ONLN?
Based on its holdings, ONLN has a trailing P/E of 35.2 and a forward P/E of 18.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ONLN?
The trailing earnings yield is 2.84% (1 ÷ P/E) and the forward earnings yield 5.43%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ONLN more expensive than the S&P 500?
ONLN trades at 35.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.4 and 19.9.
What is the price-to-book ratio of ONLN?
The holdings of ONLN trade at 4.44 times book value, with a combined return on equity of 12.6%.
Which sector in ONLN has the highest P/E?
Consumer Cyclical has the highest P/E at 37.1 and Technology the lowest at 13.6.