Macquarie ETF (PWER) Valuation
PWER valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.0 trailing earnings
- Forward P/E
- 13.5 analyst estimates
- Price / sales
- 2.12
- Price / book
- 2.48
- EV / EBITDA
- 9.1
- Earnings yield
- 5.89% inverse of P/E
- Dividend yield
- 1.61% of the holdings
- Return on equity
- 14.6% combined
- Net margin
- 12.5% combined
- Beta
- 0.92 weighted, vs S&P 500
PWER valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PWER | 17.0 | 13.5 | 2.12 | 2.48 | 1.61% | 14.6% | 12.5% | 1.0% |
| 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.
PWER valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 29.3% | 13.3 | 11.4 | 1.60 | 1.92 | 1.88% | 14.4% |
| Utilities | 25.1% | 22.7 | 16.6 | 3.15 | 2.38 | 2.57% | 10.5% |
| Industrials | 13.0% | 34.6 | 23.2 | 3.78 | 7.39 | 0.81% | 21.4% |
| Technology | 6.2% | 13.8 | 11.2 | 3.42 | 2.76 | 0.00% | 20.0% |
PWER 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 PWER weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PWER largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| EOG | EOG Resources, Inc. | 4.66% | 12.3 | 10.1 | 3.1 | 2.58% | 9.48% |
| AEP | American Electric Power Company, Inc. | 3.74% | 22.0 | 17.2 | 3.0 | 2.99% | 4.24% |
| XEL | Xcel Energy Inc. | 3.61% | 20.9 | 16.0 | 3.3 | 3.11% | 4.32% |
| VLO | Valero Energy Corporation | 3.52% | 18.5 | 10.2 | 1.0 | 1.08% | 4.75% |
| COP | ConocoPhillips | 3.50% | 19.4 | 12.7 | 2.7 | 2.29% | 4.51% |
| DINO | HF Sinclair Corporation | 3.40% | 11.9 | 10.0 | 0.7 | 1.68% | 7.13% |
| WM | Waste Management, Inc. | 3.40% | 32.1 | 22.5 | 3.5 | 1.67% | 2.65% |
| EQT | EQT Corporation | 3.39% | 12.6 | 14.1 | 3.7 | 1.25% | 6.73% |
| L3H | SHELL PLC WI ADR/2 | 3.38% | — | — | — | — | — |
| D | Dominion Energy, Inc. | 3.34% | 22.0 | 15.9 | 3.1 | 4.20% | 3.80% |
| TECK-B | Teck Resources Limited | 3.30% | — | — | — | — | — |
| STLD | Steel Dynamics, Inc. | 3.28% | 21.8 | 10.0 | 1.7 | 0.88% | 3.76% |
| FSLR | First Solar, Inc. | 3.28% | 10.6 | 8.3 | 3.4 | — | 7.69% |
| ENEL | Enel SpA | 3.13% | — | — | — | — | — |
| AAL | Anglo American PLC | 3.04% | — | — | — | — | — |
| NPI | Northland Power Inc. | 3.01% | — | — | — | — | — |
| BKR | Baker Hughes Company | 2.99% | 17.9 | 18.0 | 2.0 | 1.65% | 4.17% |
| AA | Alcoa Corporation | 2.98% | 7.2 | 8.0 | 0.8 | 0.97% | 10.35% |
| CEG | Constellation Energy Corporation | 2.97% | 26.5 | 20.7 | 3.1 | 0.63% | 2.80% |
| 1211 | BYD Company Limited | 2.95% | — | — | — | — | — |
| GNRC | Generac Holdings Inc. | 2.89% | 44.3 | 15.9 | 2.6 | — | 1.63% |
| EXE | Expand Energy Corporation | 2.88% | 8.1 | 9.6 | 1.8 | 2.46% | 8.94% |
| NXT | Nextracker Inc. | 2.88% | 20.7 | 18.2 | 3.4 | — | 3.48% |
| ETN | Eaton Corporation plc | 2.85% | 39.8 | 27.6 | 5.1 | 1.12% | 1.79% |
| LNT | Alliant Energy Corporation | 2.80% | 21.6 | 17.5 | 4.0 | 3.13% | 3.24% |
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 PWER valuation
Adding up its 22 holdings with company data, PWER trades at 17.0 times trailing earnings and 13.5 times analysts' forward estimates, with a price-to-book ratio of 2.48 and a dividend yield of 1.61%. Its earnings yield of 5.89% is 0.56 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 35.9% of the fund and earn 51.4% of its combined profit. By sector, Industrials is the most expensive at 34.6 times earnings and Energy the cheapest at 13.3. Companies that lost money over the past year are 1.0% 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 68.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PWER chart, PWER performance, PWER holdings, PWER dividends.
PWER valuation FAQ
What is the P/E ratio of PWER?
Based on its holdings, PWER has a trailing P/E of 17.0 and a forward P/E of 13.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PWER?
The trailing earnings yield is 5.89% (1 ÷ P/E) and the forward earnings yield 7.41%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PWER more expensive than the S&P 500?
PWER trades at 17.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.5 and 19.9.
What is the price-to-book ratio of PWER?
The holdings of PWER trade at 2.48 times book value, with a combined return on equity of 14.6%.
Which sector in PWER has the highest P/E?
Industrials has the highest P/E at 34.6 and Energy the lowest at 13.3.