Advisors Series ETF (PZLV) Valuation
PZLV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 20.2 trailing earnings
- Forward P/E
- 10.1 analyst estimates
- Price / sales
- 0.77
- Price / book
- 1.63
- EV / EBITDA
- 8.4
- Earnings yield
- 4.96% inverse of P/E
- Dividend yield
- 2.26% of the holdings
- Return on equity
- 8.1% combined
- Net margin
- 3.8% combined
- Beta
- 0.85 weighted, vs S&P 500
PZLV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PZLV | 20.2 | 10.1 | 0.77 | 1.63 | 2.26% | 8.1% | 3.8% | 8.7% |
| 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.
PZLV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 25.0% | 27.2 | 10.6 | 0.59 | 1.53 | 2.09% | 5.6% |
| Financial Services | 21.8% | 14.4 | 8.6 | 1.35 | 1.52 | 2.12% | 10.5% |
| Technology | 20.2% | 18.0 | 12.6 | 1.56 | 2.74 | 1.63% | 15.2% |
| Consumer Cyclical | 9.8% | 17.4 | 7.0 | 0.32 | 0.96 | 2.93% | 5.5% |
| Industrials | 7.8% | 24.1 | 8.7 | 0.86 | 1.68 | 3.56% | 7.0% |
| Consumer Defensive | 7.2% | 32.2 | 12.4 | 0.48 | 1.59 | 2.76% | 4.9% |
| Basic Materials | 2.9% | 28.5 | 12.8 | 1.02 | 2.22 | 3.21% | 7.8% |
| Communication Services | 1.0% | 22.8 | 13.8 | 1.93 | 1.62 | 1.36% | 7.1% |
PZLV 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 PZLV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PZLV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| BAX | Baxter International Inc. | 5.09% | — | 11.6 | 1.1 | 0.16% | −8.10% |
| CRBG | Corebridge Financial, Inc. | 4.75% | 21.7 | 6.0 | 0.8 | 2.90% | 4.70% |
| DG | Dollar General Corporation | 4.08% | 17.4 | 15.3 | 0.7 | 1.76% | 5.01% |
| HUM | Humana Inc. | 3.97% | 39.1 | 24.3 | 0.3 | 0.86% | 2.18% |
| CVS | CVS Health Corporation | 3.54% | 24.3 | 10.7 | 0.3 | 2.88% | 3.12% |
| CTSH | Cognizant Technology Solutions Corporation | 3.45% | 14.2 | 9.4 | 1.4 | 2.00% | 5.21% |
| CDW | CDW Corporation | 3.42% | 18.1 | 15.2 | 0.8 | 1.67% | 4.05% |
| LEA | Lear Corporation | 3.29% | 11.2 | 6.9 | 0.2 | 2.57% | 6.31% |
| FMS | Fresenius Medical Care AG & Co. KGaA | 3.27% | 11.4 | 8.6 | 0.6 | 3.93% | 6.12% |
| UHS | Universal Health Services, Inc. | 3.19% | 7.6 | 7.3 | 0.6 | 0.43% | 8.98% |
| COF | Capital One Financial Corporation | 3.08% | 13.0 | 8.5 | 2.6 | 1.59% | 5.10% |
| MET | MetLife, Inc. | 3.03% | 19.3 | 10.5 | 0.8 | 2.35% | 3.37% |
| RHI | Robert Half International Inc. | 2.98% | 29.0 | 16.7 | 0.6 | 7.09% | 2.20% |
| GL | Globe Life Inc. | 2.96% | 11.2 | 10.2 | 2.1 | 0.78% | 5.65% |
| G | Genpact Limited | 2.95% | 11.1 | 18.3 | 1.2 | 2.01% | 5.70% |
| SWKS | Skyworks Solutions, Inc. | 2.93% | 41.3 | 17.8 | 4.7 | — | 1.52% |
| WFC | Wells Fargo & Company | 2.91% | 11.8 | 10.2 | 3.0 | 2.38% | 5.27% |
| SSNC | SS&C Technologies Holdings, Inc. | 2.79% | 24.2 | 10.6 | 3.0 | 1.43% | 2.46% |
| SNY | Sanofi | 2.65% | 21.4 | 8.6 | 2.0 | 5.96% | 2.65% |
| MG | Magna International Inc | 2.64% | — | — | — | — | — |
| GPN | Global Payments Inc. | 2.46% | 39.3 | 5.3 | 2.2 | 1.20% | 1.34% |
| TSN | Tyson Foods, Inc. | 2.31% | 33.9 | 11.2 | 0.3 | 3.72% | 1.46% |
| LKQ | LKQ Corporation | 2.24% | 12.5 | 7.9 | 0.4 | 5.40% | 3.85% |
| PPG | PPG Industries, Inc. | 2.20% | 15.4 | 12.4 | 1.5 | 2.76% | 3.06% |
| C | Citigroup Inc. | 2.01% | 12.1 | 10.2 | 2.5 | 2.16% | 3.55% |
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 PZLV valuation
Adding up its 38 holdings with company data, PZLV trades at 20.2 times trailing earnings and 10.1 times analysts' forward estimates, with a price-to-book ratio of 1.63 and a dividend yield of 2.26%. Its earnings yield of 4.96% is 0.37 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 38.0% of the fund and earn 37.6% of its combined profit. By sector, Consumer Defensive is the most expensive at 32.2 times earnings and Financial Services the cheapest at 14.4. Companies that lost money over the past year are 8.7% 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 95.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PZLV chart, PZLV holdings.
PZLV valuation FAQ
What is the P/E ratio of PZLV?
Based on its holdings, PZLV has a trailing P/E of 20.2 and a forward P/E of 10.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PZLV?
The trailing earnings yield is 4.96% (1 ÷ P/E) and the forward earnings yield 9.93%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PZLV more expensive than the S&P 500?
PZLV trades at 20.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.1 and 19.9.
What is the price-to-book ratio of PZLV?
The holdings of PZLV trade at 1.63 times book value, with a combined return on equity of 8.1%.
Which sector in PZLV has the highest P/E?
Consumer Defensive has the highest P/E at 32.2 and Financial Services the lowest at 14.4.