Innovator ETFs ETF (QFLR) Valuation
QFLR valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 32.7 trailing earnings
- Forward P/E
- 22.3 analyst estimates
- Price / sales
- 5.68
- Price / book
- 8.10
- EV / EBITDA
- 21.4
- Earnings yield
- 3.05% inverse of P/E
- Dividend yield
- 0.60% of the holdings
- Return on equity
- 24.7% combined
- Net margin
- 17.4% combined
- Beta
- 1.41 weighted, vs S&P 500
QFLR valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QFLR | 32.7 | 22.3 | 5.68 | 8.10 | 0.60% | 24.7% | 17.4% | 9.7% |
| 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.
QFLR valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 54.3% | 35.2 | 22.0 | 11.42 | 14.86 | 0.48% | 42.2% |
| Communication Services | 12.4% | 17.1 | 17.3 | 3.59 | 4.03 | 0.88% | 23.6% |
| Consumer Cyclical | 11.7% | 33.3 | 32.8 | 5.35 | 9.31 | 0.11% | 28.0% |
| Consumer Defensive | 6.2% | 41.2 | 27.3 | 1.40 | 4.98 | 1.18% | 12.1% |
| Industrials | 5.7% | 128.6 | 60.4 | 17.32 | 9.62 | 0.11% | 7.5% |
| Healthcare | 3.9% | 115.7 | 15.8 | 3.70 | 7.56 | 1.32% | 6.5% |
| Utilities | 1.5% | 20.9 | 16.0 | 3.26 | 1.83 | 3.11% | 8.8% |
| Energy | 1.1% | 38.8 | 10.0 | 3.53 | 1.37 | 2.16% | 3.5% |
QFLR 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 QFLR weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QFLR largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 8.79% | 39.4 | 35.2 | 10.7 | 0.31% | 7.62% |
| NVDA | NVIDIA Corporation | 8.33% | 27.1 | 24.9 | 17.1 | 0.47% | 10.52% |
| MSFT | Microsoft Corporation | 7.51% | 29.5 | 25.1 | 11.8 | 0.74% | 8.71% |
| AMZN | Amazon.com, Inc. | 5.04% | 20.1 | 23.6 | 3.5 | — | 8.56% |
| WMT | Walmart Inc. | 5.01% | 43.0 | 38.0 | 1.3 | 0.83% | 3.98% |
| AMD | Advanced Micro Devices, Inc. | 4.41% | 134.9 | 39.5 | 20.9 | — | 1.12% |
| MU | Micron Technology, Inc. | 4.40% | 11.8 | 7.0 | 7.5 | 0.07% | 12.73% |
| GOOGL | Alphabet Inc. | 3.62% | 17.1 | 22.8 | 9.3 | 0.26% | 7.25% |
| TSLA | Tesla, Inc. | 3.62% | 328.4 | 158.7 | 13.5 | — | 0.38% |
| GOOG | Alphabet Inc. | 3.30% | 16.9 | 21.8 | 9.2 | 0.26% | 6.68% |
| META | Meta Platforms, Inc. | 3.29% | 26.7 | 22.1 | 7.9 | 0.30% | 4.21% |
| SPCX | Space Exploration Technologies Corp. | 3.27% | — | 200.0 | 83.5 | — | −0.49% |
| AVGO | Broadcom Inc. | 3.00% | 43.3 | 19.4 | 17.6 | 0.79% | 2.36% |
| LRCX | Lam Research Corporation | 2.52% | 45.8 | 33.7 | 14.2 | 0.50% | 1.88% |
| PLTR | Palantir Technologies Inc. | 2.49% | 160.4 | 85.5 | 72.6 | — | 0.53% |
| GILD | Gilead Sciences, Inc. | 2.36% | — | 15.6 | 6.4 | 2.10% | −1.37% |
| INTC | Intel Corporation | 2.26% | — | 63.3 | 8.3 | — | −1.82% |
| MAR | Marriott International, Inc. | 1.68% | 40.1 | 26.5 | 13.7 | 0.75% | 1.43% |
| XEL | Xcel Energy Inc. | 1.50% | 20.9 | 16.0 | 3.3 | 3.11% | 2.45% |
| ADSK | Autodesk, Inc. | 1.46% | 31.1 | 17.6 | 6.4 | — | 1.60% |
| ORLY | O'Reilly Automotive, Inc. | 1.33% | 28.3 | 23.4 | 3.9 | — | 1.61% |
| PAYX | Paychex, Inc. | 1.33% | 22.1 | 17.5 | 6.0 | 4.26% | 2.04% |
| CMCSA | Comcast Corporation | 1.32% | 7.1 | 5.9 | 0.6 | 6.03% | 6.38% |
| KDP | Keurig Dr Pepper Inc. | 1.18% | 35.0 | 12.5 | 2.3 | 2.66% | 1.15% |
| FANG | Diamondback Energy, Inc. | 1.10% | 38.8 | 10.0 | 3.5 | 2.16% | 0.97% |
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 QFLR valuation
Adding up its 40 holdings with company data, QFLR trades at 32.7 times trailing earnings and 22.3 times analysts' forward estimates, with a price-to-book ratio of 8.10 and a dividend yield of 0.60%. Its earnings yield of 3.05% is 2.27 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 54.0% of the fund and earn 67.5% of its combined profit. By sector, Industrials is the most expensive at 128.6 times earnings and Communication Services the cheapest at 17.1. Companies that lost money over the past year are 9.7% 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 98.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QFLR chart, QFLR performance, QFLR holdings.
QFLR valuation FAQ
What is the P/E ratio of QFLR?
Based on its holdings, QFLR has a trailing P/E of 32.7 and a forward P/E of 22.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QFLR?
The trailing earnings yield is 3.05% (1 ÷ P/E) and the forward earnings yield 4.48%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QFLR more expensive than the S&P 500?
QFLR trades at 32.7 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.3 and 19.9.
What is the price-to-book ratio of QFLR?
The holdings of QFLR trade at 8.10 times book value, with a combined return on equity of 24.7%.
Which sector in QFLR has the highest P/E?
Industrials has the highest P/E at 128.6 and Communication Services the lowest at 17.1.