iShares Nasdaq-100 ex Top 30 ETF (QNXT) Valuation
QNXT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 40.6 trailing earnings
- Forward P/E
- 20.1 analyst estimates
- Price / sales
- 3.97
- Price / book
- 5.67
- EV / EBITDA
- 18.1
- Earnings yield
- 2.46% inverse of P/E
- Dividend yield
- 0.99% of the holdings
- Return on equity
- 14.0% combined
- Net margin
- 9.8% combined
- Beta
- 1.23 weighted, vs S&P 500
QNXT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| QNXT | 40.6 | 20.1 | 3.97 | 5.67 | 0.99% | 14.0% | 9.8% | 7.8% |
| 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.
QNXT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 41.9% | 117.8 | 22.3 | 8.31 | 8.30 | 0.74% | 7.0% |
| Consumer Cyclical | 14.9% | 29.0 | 20.0 | 2.01 | 11.59 | 0.72% | 40.0% |
| Healthcare | 13.6% | 52.6 | 20.1 | 6.61 | 6.97 | 0.65% | 13.2% |
| Industrials | 12.1% | 25.5 | 25.2 | 4.13 | 5.73 | 1.12% | 22.5% |
| Consumer Defensive | 5.1% | 29.2 | 19.8 | 3.01 | 3.59 | 1.82% | 12.3% |
| Utilities | 4.8% | 21.6 | 17.2 | 2.73 | 2.09 | 2.35% | 9.7% |
| Communication Services | 4.5% | 15.3 | 11.2 | 1.61 | 2.25 | 2.11% | 14.7% |
| Energy | 2.0% | 24.8 | 12.8 | 2.57 | 1.84 | 1.91% | 7.4% |
| Financial Services | 0.9% | 10.7 | 9.1 | 1.43 | 2.27 | 0.99% | 21.1% |
QNXT 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 QNXT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
QNXT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| SHOP | Shopify Inc. | 3.95% | 114.5 | 58.8 | 16.6 | — | 1.40% |
| GILD | Gilead Sciences, Inc. | 3.77% | — | 15.6 | 6.4 | 2.10% | −2.60% |
| ADI | Analog Devices, Inc. | 3.58% | 47.0 | 23.2 | 13.8 | 1.11% | 3.10% |
| QCOM | QUALCOMM Incorporated | 3.56% | 19.9 | 19.6 | 4.2 | 2.14% | 7.27% |
| ISRG | Intuitive Surgical, Inc. | 3.07% | 48.9 | 33.3 | 13.7 | — | 2.55% |
| ASML | ASML Holding N.V. | 2.71% | 40.4 | 28.9 | 16.0 | 0.55% | 2.72% |
| VRTX | Vertex Pharmaceuticals Incorporated | 2.57% | 28.9 | 24.1 | 10.1 | — | 3.61% |
| FTNT | Fortinet, Inc. | 2.41% | 59.8 | 45.0 | 16.5 | — | 1.64% |
| WDC | Western Digital Corporation | 2.37% | 12.3 | 22.8 | 9.6 | 0.18% | 7.82% |
| BKNG | Booking Holdings Inc. | 2.36% | 18.1 | 13.3 | 4.3 | 1.03% | 5.30% |
| ADP | Automatic Data Processing, Inc. | 2.30% | 26.4 | 22.0 | 5.2 | 2.35% | 3.53% |
| SBUX | Starbucks Corporation | 2.25% | 56.4 | 30.9 | 2.9 | 2.58% | 1.63% |
| ADBE | Adobe Inc. | 2.00% | 13.7 | 8.7 | 3.7 | — | 5.94% |
| MAR | Marriott International, Inc. | 1.99% | 40.1 | 26.5 | 13.7 | 0.75% | 2.02% |
| INTU | Intuit Inc. | 1.82% | 19.8 | 12.7 | 4.1 | 1.70% | 3.74% |
| CSX | CSX Corporation | 1.78% | 28.3 | 21.2 | 6.2 | 1.15% | 2.56% |
| MELI | MercadoLibre, Inc. | 1.77% | 50.5 | 32.8 | 2.6 | — | 1.43% |
| MNST | Monster Beverage Corporation | 1.77% | 42.3 | 33.7 | 9.7 | — | 1.70% |
| CTAS | Cintas Corporation | 1.69% | 42.1 | 36.2 | 7.3 | 0.97% | 1.63% |
| CEG | Constellation Energy Corporation | 1.67% | 26.5 | 20.7 | 3.1 | 0.63% | 2.56% |
| ARM | Arm Holdings plc | 1.65% | 234.8 | 151.5 | 47.2 | — | 0.29% |
| CDNS | Cadence Design Systems, Inc. | 1.59% | 63.5 | 31.5 | 15.1 | — | 1.02% |
| CMCSA | Comcast Corporation | 1.58% | 7.1 | 5.9 | 0.6 | 6.03% | 9.08% |
| DDOG | Datadog, Inc. | 1.57% | 494.2 | 84.7 | 22.4 | — | 0.13% |
| MDLZ | Mondelez International, Inc. | 1.55% | 23.5 | 18.2 | 2.1 | 3.25% | 2.68% |
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 QNXT valuation
Adding up its 69 holdings with company data, QNXT trades at 40.6 times trailing earnings and 20.1 times analysts' forward estimates, with a price-to-book ratio of 5.67 and a dividend yield of 0.99%. Its earnings yield of 2.46% is 2.86 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 30.4% of the fund and earn 32.8% of its combined profit. By sector, Technology is the most expensive at 117.8 times earnings and Financial Services the cheapest at 10.7. Companies that lost money over the past year are 7.8% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: QNXT chart, QNXT performance, QNXT holdings, QNXT dividends.
QNXT valuation FAQ
What is the P/E ratio of QNXT?
Based on its holdings, QNXT has a trailing P/E of 40.6 and a forward P/E of 20.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of QNXT?
The trailing earnings yield is 2.46% (1 ÷ P/E) and the forward earnings yield 4.99%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is QNXT more expensive than the S&P 500?
QNXT trades at 40.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.1 and 19.9.
What is the price-to-book ratio of QNXT?
The holdings of QNXT trade at 5.67 times book value, with a combined return on equity of 14.0%.
Which sector in QNXT has the highest P/E?
Technology has the highest P/E at 117.8 and Financial Services the lowest at 10.7.