F/m Emerald Special Situations ETF (SPIT) Valuation
SPIT valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 365.5 trailing earnings
- Forward P/E
- 23.7 analyst estimates
- Price / sales
- 3.54
- Price / book
- 4.59
- EV / EBITDA
- 22.3
- Earnings yield
- 0.27% inverse of P/E
- Dividend yield
- 0.20% of the holdings
- Return on equity
- 1.3% combined
- Net margin
- 1.0% combined
- Beta
- 1.38 weighted, vs S&P 500
SPIT valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| SPIT | 365.5 | 23.7 | 3.54 | 4.59 | 0.20% | 1.3% | 1.0% | 22.8% |
| 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.
SPIT valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 24.4% | n/m | 24.6 | 6.92 | 6.06 | 0.00% | −21.1% |
| Technology | 24.4% | n/m | 37.3 | 8.09 | 10.44 | 0.17% | −4.6% |
| Industrials | 17.8% | 41.3 | 23.9 | 2.16 | 4.07 | 0.19% | 9.9% |
| Energy | 10.2% | n/m | 11.0 | 1.66 | 1.83 | 0.47% | −4.5% |
| Consumer Cyclical | 5.4% | 23.3 | 24.9 | 3.33 | 6.08 | 0.55% | 26.1% |
| Financial Services | 5.3% | 15.8 | 9.9 | 2.01 | 2.34 | 0.53% | 14.8% |
| Communication Services | 4.7% | 147.4 | 25.8 | 6.32 | 9.22 | 0.10% | 6.3% |
| Consumer Defensive | 4.6% | 17.1 | 17.6 | 1.98 | 2.12 | 0.00% | 12.4% |
| Basic Materials | 1.3% | 36.0 | 22.7 | 3.34 | 4.42 | 1.23% | 12.3% |
SPIT 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 SPIT weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
SPIT largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CORT | Corcept Therapeutics Incorporated | 4.90% | 244.8 | 19.3 | 14.3 | — | 7.84% |
| AMZN | Amazon.com, Inc. | 4.28% | 20.1 | 23.6 | 3.5 | — | 83.41% |
| GH | Guardant Health, Inc. | 4.13% | — | — | 18.0 | — | −35.70% |
| LIVN | LivaNova PLC | 3.59% | 23.0 | 16.0 | 2.9 | — | 61.31% |
| TTI | TETRA Technologies, Inc. | 3.53% | 106.4 | 12.7 | 1.2 | — | 12.98% |
| P | Everpure, Inc. | 3.50% | 169.9 | 44.8 | 9.7 | — | 8.08% |
| MDB | MongoDB, Inc. | 3.39% | 468.8 | 70.4 | 9.8 | — | 2.83% |
| SOI | Solaris Oilfield Infrastructure Inc | 3.38% | — | — | — | — | — |
| CVLT | Commvault Systems, Inc. | 3.29% | 95.0 | 28.0 | 5.1 | — | 13.57% |
| TTWO | Take-Two Interactive Software, Inc. | 3.15% | — | 28.2 | 5.7 | — | −10.39% |
| SKWD | Skyward Specialty Insurance Group, Inc. | 3.11% | 14.2 | 9.9 | 1.6 | — | 85.66% |
| IDCC | InterDigital, Inc | 2.94% | 37.3 | 29.9 | 10.5 | 0.94% | 30.92% |
| EE | Excelerate Energy, Inc. | 2.94% | 22.9 | — | 2.6 | 1.08% | 50.35% |
| NVDA | NVIDIA Corporation | 2.85% | 27.1 | 24.9 | 17.1 | 0.47% | 41.19% |
| OBIL | US Treasury 12 Month Bill ETF | 2.62% | — | — | — | — | — |
| FRPT | Freshpet, Inc. | 2.55% | 17.6 | 29.5 | 2.7 | — | 56.72% |
| CRDO | Credo Technology Group Holding Ltd | 2.48% | 60.2 | 30.9 | 20.0 | — | 16.11% |
| TMDX | TransMedics Group, Inc. | 2.29% | 18.3 | 37.3 | 3.7 | — | 48.93% |
| ARLO | Arlo Technologies, Inc. | 2.24% | 43.4 | 13.8 | 2.2 | — | 20.21% |
| PLMR | Palomar Holdings, Inc. | 2.17% | 18.8 | — | 3.4 | 1.29% | 45.28% |
| BLLN | BillionToOne, Inc. | 2.08% | 155.7 | 69.9 | 11.7 | — | 5.24% |
| DAR | Darling Ingredients Inc. | 2.03% | 16.5 | 11.7 | 1.5 | — | 48.16% |
| FTAI | FTAI Aviation Ltd. | 1.98% | 35.8 | 13.5 | 5.4 | 1.22% | 21.74% |
| AVAV | AeroVironment, Inc. | 1.98% | — | 55.2 | 3.1 | — | −25.85% |
| LASR | nLIGHT, Inc. | 1.94% | — | 61.3 | 6.3 | — | −5.65% |
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 SPIT valuation
Adding up its 42 holdings with company data, SPIT trades at 365.5 times trailing earnings and 23.7 times analysts' forward estimates, with a price-to-book ratio of 4.59 and a dividend yield of 0.20%. Its earnings yield of 0.27% is 5.05 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 37.1% of the fund and earn 229.6% of its combined profit. By sector, Communication Services is the most expensive at 147.4 times earnings and Financial Services the cheapest at 15.8. Companies that lost money over the past year are 22.8% 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 92.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: SPIT chart, SPIT performance, SPIT holdings, SPIT dividends.
SPIT valuation FAQ
What is the P/E ratio of SPIT?
Based on its holdings, SPIT has a trailing P/E of 365.5 and a forward P/E of 23.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of SPIT?
The trailing earnings yield is 0.27% (1 ÷ P/E) and the forward earnings yield 4.23%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is SPIT more expensive than the S&P 500?
SPIT trades at 365.5 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 23.7 and 19.9.
What is the price-to-book ratio of SPIT?
The holdings of SPIT trade at 4.59 times book value, with a combined return on equity of 1.3%.
Which sector in SPIT has the highest P/E?
Communication Services has the highest P/E at 147.4 and Financial Services the lowest at 15.8.