Invesco Dynamic Oil & Gas Services ETF (PXJ) Valuation
PXJ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 15.8 trailing earnings
- Forward P/E
- 13.7 analyst estimates
- Price / sales
- 1.53
- Price / book
- 1.81
- EV / EBITDA
- 6.8
- Earnings yield
- 6.31% inverse of P/E
- Dividend yield
- 3.46% of the holdings
- Return on equity
- 11.4% combined
- Net margin
- 9.7% combined
- Beta
- 0.70 weighted, vs S&P 500
PXJ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PXJ | 15.8 | 13.7 | 1.53 | 1.81 | 3.46% | 11.4% | 9.7% | 9.0% |
| 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.
PXJ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 95.0% | 15.8 | 13.7 | 1.53 | 1.81 | 3.46% | 11.4% |
PXJ 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 PXJ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PXJ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| FRO | Frontline Ltd. | 5.90% | 7.9 | 10.0 | 4.3 | 10.25% | 12.75% |
| NE | Noble Corporation | 5.19% | 46.9 | 21.0 | 2.4 | 4.54% | 1.88% |
| HAL | Halliburton Company | 5.06% | 17.6 | 11.4 | 1.2 | 2.03% | 4.88% |
| WFRD | Weatherford International plc | 4.92% | 15.0 | 11.1 | 1.1 | 1.44% | 5.57% |
| NOV | NOV Inc. | 4.67% | 70.1 | 15.6 | 0.8 | 1.90% | 1.13% |
| AROC | Archrock, Inc. | 4.58% | 15.9 | 14.3 | 3.4 | 3.11% | 4.90% |
| FTI | TechnipFMC plc | 4.48% | 24.3 | 21.3 | 2.6 | 0.29% | 3.14% |
| BKR | Baker Hughes Company | 4.32% | 17.9 | 18.0 | 2.0 | 1.65% | 4.11% |
| OET | Okeanis Eco Tankers Corp | 4.03% | — | — | — | — | — |
| DHT | DHT Holdings, Inc. | 3.50% | 8.0 | 9.2 | 4.8 | 20.68% | 7.41% |
| TEN | Tsakos Energy Navigation Limited | 3.40% | 5.2 | 6.8 | 1.6 | 3.91% | 11.15% |
| STNG | Scorpio Tankers Inc. | 3.05% | 5.1 | 15.6 | 3.4 | 2.21% | 10.24% |
| INSW | International Seaways, Inc. | 2.95% | 7.0 | 15.1 | 4.3 | 7.44% | 7.13% |
| RIG | Transocean Ltd. | 2.94% | — | 15.2 | 1.5 | — | −14.24% |
| TNK | Teekay Tankers Ltd. | 2.91% | 5.8 | 8.3 | 2.9 | 1.03% | 8.50% |
| PTEN | Patterson-UTI Energy, Inc. | 2.89% | — | 35.7 | 0.9 | 3.48% | −1.03% |
| INVX | Innovex International, Inc | 2.85% | 31.5 | — | 2.0 | — | 1.54% |
| LPG | Dorian LPG Ltd. | 2.80% | 7.1 | 5.4 | 4.0 | 6.25% | 6.70% |
| RES | RPC, Inc. | 2.72% | 55.0 | 16.3 | 0.7 | 2.64% | 0.84% |
| XPRO | Expro Group Holdings N.V. | 2.71% | 89.8 | 12.0 | 1.2 | — | 0.51% |
| NVGS | Navigator Holdings Ltd. | 2.63% | 9.9 | 12.9 | 2.1 | 1.31% | 4.52% |
| USAC | USA Compression Partners, LP | 2.61% | 24.1 | 16.9 | 3.1 | 8.23% | 1.84% |
| HP | Helmerich & Payne, Inc. | 2.55% | — | 35.6 | 0.9 | 2.67% | −1.66% |
| VTOL | Bristow Group Inc. | 2.49% | 11.1 | — | 0.7 | 1.29% | 3.80% |
| WHD | Cactus, Inc. | 2.41% | 51.9 | 48.1 | 3.2 | 0.97% | 0.79% |
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 PXJ valuation
Adding up its 28 holdings with company data, PXJ trades at 15.8 times trailing earnings and 13.7 times analysts' forward estimates, with a price-to-book ratio of 1.81 and a dividend yield of 3.46%. Its earnings yield of 6.31% is 0.99 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 46.6% of the fund and earn 56.9% of its combined profit. Companies that lost money over the past year are 9.0% 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 93.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PXJ chart, PXJ performance, PXJ holdings, PXJ dividends.
PXJ valuation FAQ
What is the P/E ratio of PXJ?
Based on its holdings, PXJ has a trailing P/E of 15.8 and a forward P/E of 13.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PXJ?
The trailing earnings yield is 6.31% (1 ÷ P/E) and the forward earnings yield 7.31%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PXJ more expensive than the S&P 500?
PXJ trades at 15.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.7 and 19.9.
What is the price-to-book ratio of PXJ?
The holdings of PXJ trade at 1.81 times book value, with a combined return on equity of 11.4%.