Invesco S&P SmallCap Energy ETF (PSCE) Valuation
PSCE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.5 trailing earnings
- Forward P/E
- 11.5 analyst estimates
- Price / sales
- 0.86
- Price / book
- 1.53
- EV / EBITDA
- 6.2
- Earnings yield
- 4.44% inverse of P/E
- Dividend yield
- 2.44% of the holdings
- Return on equity
- 6.8% combined
- Net margin
- 3.8% combined
- Beta
- 0.80 weighted, vs S&P 500
PSCE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PSCE | 22.5 | 11.5 | 0.86 | 1.53 | 2.44% | 6.8% | 3.8% | 22.4% |
| 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.
PSCE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 94.7% | 22.8 | 11.5 | 0.86 | 1.52 | 2.46% | 6.7% |
| Basic Materials | 1.0% | 11.4 | 12.5 | 2.10 | 2.17 | 0.00% | 19.0% |
PSCE 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 PSCE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PSCE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| SM | SM Energy Company | 7.98% | 7.0 | 4.4 | 1.9 | 2.23% | 28.03% |
| MGY | Magnolia Oil & Gas Corporation | 5.57% | 11.1 | 9.2 | 4.7 | 2.60% | 12.33% |
| NE | Noble Corporation | 5.32% | 46.9 | 21.0 | 2.4 | 4.54% | 2.79% |
| AROC | Archrock, Inc. | 4.49% | 15.9 | 14.3 | 3.4 | 3.11% | 6.95% |
| PTEN | Patterson-UTI Energy, Inc. | 4.14% | — | 35.7 | 0.9 | 3.48% | −2.13% |
| CNR | Core Natural Resources, Inc. | 4.12% | 45.6 | 8.9 | 1.1 | 0.44% | 2.22% |
| CRGY | Crescent Energy Company | 4.12% | 125.2 | 6.3 | 1.3 | 3.49% | 0.81% |
| INSW | International Seaways, Inc. | 4.10% | 7.0 | 15.1 | 4.3 | 7.44% | 14.33% |
| WHD | Cactus, Inc. | 3.86% | 51.9 | 48.1 | 3.2 | 0.97% | 1.83% |
| DK | Delek US Holdings, Inc. | 3.86% | 20.8 | 20.3 | 0.4 | 1.33% | 4.58% |
| US50012A1088 | KODIAK GAS SERVICES INC | 3.83% | — | — | — | — | — |
| CRC | California Resources Corporation | 3.78% | — | 11.9 | 1.3 | 2.98% | −2.21% |
| PARR | Par Pacific Holdings, Inc. | 3.53% | 4.9 | 10.5 | 0.5 | — | 17.84% |
| TDW | Tidewater Inc. | 3.36% | 16.2 | 36.4 | 2.9 | — | 5.11% |
| SOI | Solaris Oilfield Infrastructure Inc | 3.34% | — | — | — | — | — |
| OII | Oceaneering International, Inc. | 3.34% | 12.7 | 18.8 | 1.5 | — | 6.49% |
| HP | Helmerich & Payne, Inc. | 3.30% | — | 35.6 | 0.9 | 2.67% | −3.10% |
| KNTK | Kinetik Holdings Inc. | 3.25% | 19.3 | 21.4 | 5.0 | 5.86% | 4.13% |
| NOG | Northern Oil and Gas, Inc. | 2.51% | — | 4.6 | 1.4 | 6.63% | −11.01% |
| BTU | Peabody Energy Corporation | 2.44% | — | 19.1 | 0.7 | 1.26% | −3.74% |
| LBRT | Liberty Energy Inc. | 2.29% | 22.4 | 29.5 | 0.6 | 2.17% | 2.51% |
| GPOR | Gulfport Energy Corporation | 2.10% | 6.6 | 6.8 | 2.2 | — | 7.84% |
| TALO | Talos Energy Inc. | 2.08% | — | 15.1 | 1.5 | — | −6.81% |
| LPG | Dorian LPG Ltd. | 1.82% | 7.1 | 5.4 | 4.0 | 6.25% | 6.31% |
| LEU | Centrus Energy Corp. | 1.76% | 53.7 | 114.9 | 5.0 | — | 0.81% |
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 PSCE valuation
Adding up its 31 holdings with company data, PSCE trades at 22.5 times trailing earnings and 11.5 times analysts' forward estimates, with a price-to-book ratio of 1.53 and a dividend yield of 2.44%. Its earnings yield of 4.44% is 0.89 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 47.6% of the fund and earn 71.8% of its combined profit. By sector, Energy is the most expensive at 22.8 times earnings and Basic Materials the cheapest at 11.4. Companies that lost money over the past year are 22.4% 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 92.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PSCE chart, PSCE performance, PSCE holdings, PSCE dividends.
PSCE valuation FAQ
What is the P/E ratio of PSCE?
Based on its holdings, PSCE has a trailing P/E of 22.5 and a forward P/E of 11.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PSCE?
The trailing earnings yield is 4.44% (1 ÷ P/E) and the forward earnings yield 8.71%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PSCE more expensive than the S&P 500?
PSCE trades at 22.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 11.5 and 19.9.
What is the price-to-book ratio of PSCE?
The holdings of PSCE trade at 1.53 times book value, with a combined return on equity of 6.8%.
Which sector in PSCE has the highest P/E?
Energy has the highest P/E at 22.8 and Basic Materials the lowest at 11.4.