Invesco Dynamic Food & Beverage ETF (PBJ) Valuation
PBJ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.2 trailing earnings
- Forward P/E
- 14.5 analyst estimates
- Price / sales
- 0.51
- Price / book
- 1.98
- EV / EBITDA
- 11.6
- Earnings yield
- 4.31% inverse of P/E
- Dividend yield
- 2.13% of the holdings
- Return on equity
- 8.5% combined
- Net margin
- 2.2% combined
- Beta
- 0.61 weighted, vs S&P 500
PBJ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PBJ | 23.2 | 14.5 | 0.51 | 1.98 | 2.13% | 8.5% | 2.2% | 5.3% |
| 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.
PBJ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Consumer Defensive | 82.8% | 27.8 | 13.8 | 0.46 | 1.89 | 2.05% | 6.8% |
| Consumer Cyclical | 7.7% | 41.0 | 20.8 | 2.92 | 10.92 | 1.67% | 26.7% |
| Basic Materials | 5.1% | 8.0 | 19.1 | 1.73 | 2.13 | 5.59% | 26.8% |
| Industrials | 5.1% | 10.4 | 15.4 | 0.49 | 1.24 | 0.55% | 11.9% |
PBJ 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 PBJ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PBJ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| KDP | Keurig Dr Pepper Inc. | 5.69% | 35.0 | 12.5 | 2.3 | 2.66% | 3.94% |
| KO | The Coca-Cola Company | 5.41% | 28.2 | 25.3 | 8.1 | 2.26% | 4.66% |
| KR | The Kroger Co. | 5.35% | 35.4 | 11.3 | 0.3 | 2.45% | 3.67% |
| ADM | Archer-Daniels-Midland Company | 5.28% | 22.6 | 15.6 | 0.5 | 2.52% | 5.65% |
| CTVA | Corteva, Inc. | 5.14% | 8.0 | 19.1 | 1.7 | 5.59% | 15.67% |
| SYY | Sysco Corporation | 5.01% | 21.9 | 15.2 | 0.5 | 2.68% | 5.54% |
| SBUX | Starbucks Corporation | 4.98% | 56.4 | 30.9 | 2.9 | 2.58% | 2.14% |
| MNST | Monster Beverage Corporation | 4.96% | 42.3 | 33.7 | 9.7 | — | 2.84% |
| COKE | Coca-Cola Consolidated, Inc. | 2.98% | 27.9 | 17.4 | 1.8 | 0.48% | 2.59% |
| SJM | The J. M. Smucker Company | 2.88% | 59.5 | 12.0 | 1.5 | 3.52% | 1.17% |
| WMK | Weis Markets, Inc. | 2.85% | 19.1 | 8.7 | 0.4 | 1.81% | 3.62% |
| NOMD | Nomad Foods Limited | 2.85% | 11.4 | 11.1 | 0.6 | 5.78% | 6.06% |
| COCO_old | Corinthian Colleges Inc | 2.81% | — | — | — | — | — |
| POST | Post Holdings, Inc. | 2.79% | 14.3 | 28.2 | 0.4 | — | 4.74% |
| STZ | Constellation Brands, Inc. | 2.79% | 11.8 | 10.0 | 2.4 | 3.14% | 5.75% |
| DAR | Darling Ingredients Inc. | 2.74% | 16.5 | 11.7 | 1.5 | — | 4.01% |
| CHEF | The Chefs' Warehouse, Inc. | 2.71% | 54.1 | 25.6 | 1.1 | — | 1.22% |
| DOLE | Dole plc | 2.71% | 18.0 | 8.5 | 0.1 | 2.56% | 3.66% |
| ANDE | The Andersons, Inc. | 2.71% | 12.5 | 20.9 | 0.2 | 1.23% | 5.25% |
| CART | Instacart (Maplebear Inc.) | 2.70% | 27.2 | 13.0 | 3.0 | — | 2.41% |
| IMKTA | Ingles Markets, Incorporated | 2.67% | 15.8 | 8.6 | 0.3 | 0.76% | 4.10% |
| BG | Bunge Limited | 2.62% | 21.1 | 9.6 | 0.2 | 2.71% | 3.00% |
| UNFI | United Natural Foods, Inc. | 2.62% | 35.7 | 13.1 | 0.1 | — | 1.78% |
| SAM | The Boston Beer Company, Inc. | 2.59% | — | 16.4 | 1.0 | — | −1.86% |
| ARMK | Aramark | 2.59% | 38.7 | 21.5 | 0.7 | 0.87% | 1.62% |
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 PBJ valuation
Adding up its 28 holdings with company data, PBJ trades at 23.2 times trailing earnings and 14.5 times analysts' forward estimates, with a price-to-book ratio of 1.98 and a dividend yield of 2.13%. Its earnings yield of 4.31% is 1.01 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 47.7% of the fund and earn 47.9% of its combined profit. By sector, Consumer Cyclical is the most expensive at 41.0 times earnings and Basic Materials the cheapest at 8.0. Companies that lost money over the past year are 5.3% 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 94.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PBJ chart, PBJ performance, PBJ holdings, PBJ dividends.
PBJ valuation FAQ
What is the P/E ratio of PBJ?
Based on its holdings, PBJ has a trailing P/E of 23.2 and a forward P/E of 14.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PBJ?
The trailing earnings yield is 4.31% (1 ÷ P/E) and the forward earnings yield 6.90%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PBJ more expensive than the S&P 500?
PBJ trades at 23.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.5 and 19.9.
What is the price-to-book ratio of PBJ?
The holdings of PBJ trade at 1.98 times book value, with a combined return on equity of 8.5%.
Which sector in PBJ has the highest P/E?
Consumer Cyclical has the highest P/E at 41.0 and Basic Materials the lowest at 8.0.