Putnam Focused Large Cap Growth ETF (PGRO) Valuation
PGRO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 33.3 trailing earnings
- Forward P/E
- 25.6 analyst estimates
- Price / sales
- 8.28
- Price / book
- 13.36
- EV / EBITDA
- 23.2
- Earnings yield
- 3.00% inverse of P/E
- Dividend yield
- 0.41% of the holdings
- Return on equity
- 40.1% combined
- Net margin
- 24.8% combined
- Beta
- 1.43 weighted, vs S&P 500
PGRO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PGRO | 33.3 | 25.6 | 8.28 | 13.36 | 0.41% | 40.1% | 24.8% | 3.7% |
| 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.
PGRO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 51.5% | 36.8 | 25.0 | 13.88 | 17.09 | 0.37% | 46.4% |
| Communication Services | 17.2% | 22.0 | 24.3 | 6.24 | 7.91 | 0.22% | 36.0% |
| Healthcare | 8.1% | 46.4 | 24.3 | 12.00 | 20.45 | 0.68% | 44.0% |
| Consumer Cyclical | 8.0% | 42.6 | 38.1 | 5.49 | 10.48 | 0.36% | 24.6% |
| Financial Services | 6.9% | 34.1 | 24.1 | 16.13 | 33.04 | 0.61% | 96.9% |
| Industrials | 4.1% | 30.4 | 28.8 | 4.93 | 15.38 | 0.67% | 50.6% |
| Consumer Defensive | 1.6% | 47.6 | 40.3 | 1.45 | 11.97 | 0.59% | 25.1% |
| Basic Materials | 1.3% | 30.4 | 22.4 | 4.11 | 3.74 | 0.81% | 12.3% |
| Real Estate | 0.6% | 30.5 | 14.9 | 0.88 | 4.80 | 0.00% | 15.8% |
PGRO 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 PGRO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PGRO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 14.12% | 27.1 | 24.9 | 17.1 | 0.47% | 17.50% |
| GOOGL | Alphabet Inc. | 9.43% | 17.1 | 22.8 | 9.3 | 0.26% | 18.50% |
| AAPL | Apple Inc. | 6.74% | 39.4 | 35.2 | 10.7 | 0.31% | 5.74% |
| MSFT | Microsoft Corporation | 5.35% | 29.5 | 25.1 | 11.8 | 0.74% | 6.09% |
| LLY | Eli Lilly and Company | 4.59% | 42.2 | 24.4 | 14.1 | 0.55% | 3.65% |
| META | Meta Platforms, Inc. | 4.48% | 26.7 | 22.1 | 7.9 | 0.30% | 5.62% |
| AVGO | Broadcom Inc. | 4.45% | 43.3 | 19.4 | 17.6 | 0.79% | 3.44% |
| MA | Mastercard Incorporated | 3.60% | 34.0 | 24.2 | 15.4 | 0.56% | 3.56% |
| V | Visa Inc. | 3.26% | 34.3 | 24.0 | 17.0 | 0.67% | 3.19% |
| TSLA | Tesla, Inc. | 3.06% | 328.4 | 158.7 | 13.5 | — | 0.31% |
| MU | Micron Technology, Inc. | 3.06% | 11.8 | 7.0 | 7.5 | 0.07% | 8.68% |
| AMD | Advanced Micro Devices, Inc. | 3.00% | 134.9 | 39.5 | 20.9 | — | 0.75% |
| AMZN | Amazon.com, Inc. | 2.78% | 20.1 | 23.6 | 3.5 | — | 4.63% |
| LRCX | Lam Research Corporation | 2.71% | 45.8 | 33.7 | 14.2 | 0.50% | 1.99% |
| SNOW | Snowflake Inc. | 2.08% | — | 169.5 | 19.9 | — | −0.72% |
| PLTR | Palantir Technologies Inc. | 1.93% | 160.4 | 85.5 | 72.6 | — | 0.40% |
| CDNS | Cadence Design Systems, Inc. | 1.73% | 63.5 | 31.5 | 15.1 | — | 0.91% |
| COST | Costco Wholesale Corporation | 1.61% | 47.6 | 40.3 | 1.4 | 0.59% | 1.13% |
| TT | Trane Technologies plc | 1.60% | 34.2 | 25.2 | 4.5 | 0.92% | 1.56% |
| SPOT | Spotify Technology S.A | 1.49% | 30.5 | 28.6 | 6.0 | — | 1.64% |
| PANW | Palo Alto Networks, Inc. | 1.48% | 855.0 | 94.3 | 24.4 | — | 0.06% |
| ISRG | Intuitive Surgical, Inc. | 1.48% | 48.9 | 33.3 | 13.7 | — | 1.01% |
| GEV | GE Vernova Inc. | 1.42% | 26.4 | 38.8 | 5.9 | 0.22% | 1.80% |
| VMC | Vulcan Materials Company | 1.29% | 30.4 | 22.4 | 4.1 | 0.81% | 1.42% |
| LYV | Live Nation Entertainment, Inc. | 1.28% | — | 119.0 | 1.5 | — | −0.28% |
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 PGRO valuation
Adding up its 39 holdings with company data, PGRO trades at 33.3 times trailing earnings and 25.6 times analysts' forward estimates, with a price-to-book ratio of 13.36 and a dividend yield of 0.41%. Its earnings yield of 3.00% is 2.33 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 59.1% of the fund and earn 67.6% of its combined profit. By sector, Consumer Defensive is the most expensive at 47.6 times earnings and Communication Services the cheapest at 22.0. Companies that lost money over the past year are 3.7% 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: PGRO chart, PGRO performance, PGRO holdings, PGRO dividends.
PGRO valuation FAQ
What is the P/E ratio of PGRO?
Based on its holdings, PGRO has a trailing P/E of 33.3 and a forward P/E of 25.6 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PGRO?
The trailing earnings yield is 3.00% (1 ÷ P/E) and the forward earnings yield 3.91%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PGRO more expensive than the S&P 500?
PGRO trades at 33.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 25.6 and 19.9.
What is the price-to-book ratio of PGRO?
The holdings of PGRO trade at 13.36 times book value, with a combined return on equity of 40.1%.
Which sector in PGRO has the highest P/E?
Consumer Defensive has the highest P/E at 47.6 and Communication Services the lowest at 22.0.