Invesco Dynamic Biotechnology & Genome ETF (PBE) Valuation
PBE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 133.6 trailing earnings
- Forward P/E
- 14.8 analyst estimates
- Price / sales
- 4.56
- Price / book
- 4.79
- EV / EBITDA
- 12.7
- Earnings yield
- 0.75% inverse of P/E
- Dividend yield
- 0.35% of the holdings
- Return on equity
- 3.6% combined
- Net margin
- 3.4% combined
- Beta
- 0.79 weighted, vs S&P 500
PBE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PBE | 133.6 | 14.8 | 4.56 | 4.79 | 0.35% | 3.6% | 3.4% | 32.8% |
| 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.
PBE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 100.3% | 133.6 | 14.8 | 4.56 | 4.79 | 0.35% | 3.6% |
PBE 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 PBE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PBE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ILMN | Illumina, Inc. | 5.97% | 49.0 | 40.3 | 8.8 | — | 16.25% |
| NTRA | Natera, Inc. | 5.80% | — | — | 20.9 | — | −2.65% |
| BIIB | Biogen Inc. | 5.53% | 41.3 | 13.9 | 3.4 | — | 17.82% |
| GILD | Gilead Sciences, Inc. | 5.29% | — | 15.6 | 6.4 | 2.10% | −11.96% |
| RPRX | Royalty Pharma plc | 5.15% | 32.4 | 29.4 | 13.9 | 1.54% | 21.16% |
| AMGN | Amgen Inc. | 4.89% | 26.9 | 16.7 | 6.1 | 2.33% | 24.26% |
| VRTX | Vertex Pharmaceuticals Incorporated | 4.72% | 28.9 | 24.1 | 10.1 | — | 21.72% |
| REGN | Regeneron Pharmaceuticals, Inc. | 4.66% | 19.6 | 14.5 | 5.2 | 0.48% | 31.76% |
| MRNA | Moderna, Inc. | 4.02% | — | 23.0 | 39.1 | — | −19.60% |
| NVAX | Novavax, Inc. | 3.44% | — | 2.6 | 4.5 | — | −64.27% |
| HALO | Halozyme Therapeutics, Inc. | 3.13% | 35.6 | 11.5 | 8.3 | — | 11.72% |
| EXEL | Exelixis, Inc. | 3.13% | 19.6 | 13.6 | 6.3 | — | 21.23% |
| QGEN | Qiagen N.V. | 2.89% | 23.4 | 13.5 | 4.5 | 0.76% | 16.42% |
| SRPT | Sarepta Therapeutics, Inc. | 2.88% | — | 19.2 | 0.9 | — | −35.18% |
| UTHR | United Therapeutics Corporation | 2.86% | 19.1 | 16.4 | 7.2 | — | 19.96% |
| RGEN | Repligen Corporation | 2.70% | 240.3 | 67.1 | 14.2 | — | 1.50% |
| TGTX | TG Therapeutics, Inc. | 2.67% | 19.6 | 25.9 | 10.3 | — | 18.10% |
| VCEL | Vericel Corporation | 2.66% | 85.4 | 57.1 | 6.7 | — | 4.15% |
| VCYT | Veracyte, Inc. | 2.65% | 30.8 | 23.6 | 6.2 | — | 11.48% |
| PTGX | Protagonist Therapeutics, Inc. | 2.58% | 125.0 | 36.9 | 29.5 | — | 2.75% |
| LEGN | Legend Biotech Corporation | 2.54% | — | 27.5 | 2.8 | — | −9.51% |
| NBIX | Neurocrine Biosciences, Inc. | 2.52% | 19.9 | 14.1 | 4.1 | — | 16.84% |
| PTCT | PTC Therapeutics, Inc. | 2.42% | — | 22.7 | 4.9 | — | −3.54% |
| INCY | Incyte Corporation | 2.34% | 14.4 | 14.7 | 3.9 | — | 21.60% |
| COLL | Collegium Pharmaceutical, Inc. | 2.23% | 18.3 | 3.4 | 0.9 | — | 16.29% |
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 PBE valuation
Adding up its 30 holdings with company data, PBE trades at 133.6 times trailing earnings and 14.8 times analysts' forward estimates, with a price-to-book ratio of 4.79 and a dividend yield of 0.35%. Its earnings yield of 0.75% is 4.58 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 49.5% of the fund and earn 34.5% of its combined profit. Companies that lost money over the past year are 32.8% 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 99.96% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PBE chart, PBE performance, PBE holdings, PBE dividends.
PBE valuation FAQ
What is the P/E ratio of PBE?
Based on its holdings, PBE has a trailing P/E of 133.6 and a forward P/E of 14.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PBE?
The trailing earnings yield is 0.75% (1 ÷ P/E) and the forward earnings yield 6.74%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PBE more expensive than the S&P 500?
PBE trades at 133.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.8 and 19.9.
What is the price-to-book ratio of PBE?
The holdings of PBE trade at 4.79 times book value, with a combined return on equity of 3.6%.