Invesco NASDAQ Internet ETF (PNQI) Valuation
PNQI valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.9 trailing earnings
- Forward P/E
- 20.0 analyst estimates
- Price / sales
- 2.30
- Price / book
- 5.71
- EV / EBITDA
- 15.4
- Earnings yield
- 3.87% inverse of P/E
- Dividend yield
- 0.39% of the holdings
- Return on equity
- 22.1% combined
- Net margin
- 8.9% combined
- Beta
- 1.33 weighted, vs S&P 500
PNQI valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PNQI | 25.9 | 20.0 | 2.30 | 5.71 | 0.39% | 22.1% | 8.9% | 4.6% |
| 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.
PNQI valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 42.7% | 26.4 | 20.3 | 5.86 | 7.59 | 0.42% | 28.7% |
| Communication Services | 31.2% | 24.7 | 20.0 | 4.06 | 4.71 | 0.37% | 19.1% |
| Consumer Cyclical | 24.6% | 26.0 | 20.1 | 0.88 | 5.64 | 0.35% | 21.7% |
| Financial Services | 2.4% | 24.6 | 14.3 | 2.26 | 2.87 | 0.53% | 11.7% |
| Real Estate | 0.4% | 179.5 | 18.3 | 3.68 | 1.47 | 0.00% | 0.8% |
| Healthcare | 0.0% | n/m | 303.0 | 0.41 | 0.88 | 0.00% | −15.4% |
PNQI 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 PNQI weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PNQI largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| META | Meta Platforms, Inc. | 9.09% | 26.7 | 22.1 | 7.9 | 0.30% | 8.69% |
| AAPL | Apple Inc. | 9.07% | 39.4 | 35.2 | 10.7 | 0.31% | 5.88% |
| MSFT | Microsoft Corporation | 8.32% | 29.5 | 25.1 | 11.8 | 0.74% | 7.22% |
| GOOG | Alphabet Inc. | 8.05% | 16.9 | 21.8 | 9.2 | 0.26% | 12.18% |
| AMZN | Amazon.com, Inc. | 7.81% | 20.1 | 23.6 | 3.5 | — | 9.93% |
| SHOP | Shopify Inc. | 4.51% | 114.5 | 58.8 | 16.6 | — | 1.01% |
| DIS | The Walt Disney Company | 4.33% | 22.8 | 13.8 | 1.9 | 1.36% | 4.85% |
| CRM | Salesforce, Inc. | 4.03% | 22.0 | 14.0 | 4.5 | 0.73% | 4.68% |
| UBER | Uber Technologies, Inc. | 3.66% | 15.4 | 15.9 | 2.6 | — | 6.06% |
| NFLX | Netflix, Inc. | 3.37% | 22.2 | 18.7 | 6.1 | — | 3.88% |
| BKNG | Booking Holdings Inc. | 3.15% | 18.1 | 13.3 | 4.3 | 1.03% | 4.45% |
| SPOT | Spotify Technology S.A | 3.06% | 30.5 | 28.6 | 6.0 | — | 2.57% |
| ADBE | Adobe Inc. | 2.88% | 13.7 | 8.7 | 3.7 | — | 5.38% |
| INTU | Intuit Inc. | 2.60% | 19.8 | 12.7 | 4.1 | 1.70% | 3.36% |
| MELI | MercadoLibre, Inc. | 2.40% | 50.5 | 32.8 | 2.6 | — | 1.22% |
| DASH | DoorDash, Inc. | 2.03% | 99.6 | 38.0 | 5.2 | — | 0.52% |
| ABNB | Airbnb, Inc. | 1.94% | 39.6 | 25.4 | 7.9 | — | 1.25% |
| BABA | Alibaba Group Holding Limited | 1.42% | 26.4 | 17.9 | 0.3 | 0.96% | 1.37% |
| EBAY | eBay Inc. | 1.41% | 25.3 | 16.6 | 4.5 | 1.03% | 1.43% |
| PYPL | PayPal Holdings, Inc. | 1.27% | 10.7 | 9.1 | 1.4 | 0.99% | 3.02% |
| TWLO | Twilio Inc | 1.10% | 33.8 | 43.7 | 6.7 | — | 0.83% |
| COIN | Coinbase Global, Inc. | 1.00% | — | 54.3 | 7.6 | — | −0.48% |
| OKTA | Okta, Inc. | 0.96% | 112.8 | 54.3 | 10.7 | — | 0.22% |
| RBLX | Roblox Corporation | 0.93% | — | 192.3 | 6.2 | — | −0.64% |
| SE | Sea Limited | 0.89% | 36.2 | 25.8 | 2.1 | — | 0.63% |
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 PNQI valuation
Adding up its 77 holdings with company data, PNQI trades at 25.9 times trailing earnings and 20.0 times analysts' forward estimates, with a price-to-book ratio of 5.71 and a dividend yield of 0.39%. Its earnings yield of 3.87% is 1.46 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 62.3% of the fund and earn 64.4% of its combined profit. By sector, Real Estate is the most expensive at 179.5 times earnings and Financial Services the cheapest at 24.6. Companies that lost money over the past year are 4.6% 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 99.99% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PNQI chart, PNQI performance, PNQI holdings.
PNQI valuation FAQ
What is the P/E ratio of PNQI?
Based on its holdings, PNQI has a trailing P/E of 25.9 and a forward P/E of 20.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PNQI?
The trailing earnings yield is 3.87% (1 ÷ P/E) and the forward earnings yield 5.01%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PNQI more expensive than the S&P 500?
PNQI trades at 25.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.0 and 19.9.
What is the price-to-book ratio of PNQI?
The holdings of PNQI trade at 5.71 times book value, with a combined return on equity of 22.1%.
Which sector in PNQI has the highest P/E?
Real Estate has the highest P/E at 179.5 and Financial Services the lowest at 24.6.