Horizon Core Equity ETF (STOX) Valuation
STOX valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 24.4 trailing earnings
- Forward P/E
- 19.3 analyst estimates
- Price / sales
- 3.55
- Price / book
- 5.56
- EV / EBITDA
- 17.4
- Earnings yield
- 4.09% inverse of P/E
- Dividend yield
- 1.11% of the holdings
- Return on equity
- 22.7% combined
- Net margin
- 14.5% combined
- Beta
- 1.05 weighted, vs S&P 500
STOX valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| STOX | 24.4 | 19.3 | 3.55 | 5.56 | 1.11% | 22.7% | 14.5% | 1.1% |
| 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.
STOX valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 33.8% | 30.6 | 21.8 | 10.43 | 13.58 | 0.54% | 44.3% |
| Financial Services | 12.0% | 15.0 | 15.4 | 3.31 | 2.34 | 1.16% | 15.6% |
| Healthcare | 9.9% | 35.2 | 17.3 | 1.58 | 6.06 | 1.62% | 17.2% |
| Communication Services | 8.2% | 17.8 | 19.6 | 5.47 | 5.36 | 0.72% | 30.2% |
| Consumer Cyclical | 7.1% | 25.1 | 18.3 | 2.20 | 6.49 | 0.91% | 25.9% |
| Industrials | 5.9% | 26.9 | 23.1 | 2.77 | 6.01 | 1.20% | 22.4% |
| Consumer Defensive | 5.8% | 28.6 | 24.2 | 2.21 | 10.19 | 2.14% | 35.7% |
| Energy | 4.2% | 20.6 | 13.3 | 1.90 | 2.60 | 2.40% | 12.6% |
| Basic Materials | 1.7% | 24.4 | 18.4 | 4.53 | 5.41 | 1.12% | 22.2% |
| Utilities | 1.5% | 19.5 | 16.8 | 3.20 | 1.97 | 3.23% | 10.1% |
| Real Estate | 1.5% | 33.4 | 37.1 | 10.40 | 3.88 | 3.17% | 11.6% |
STOX 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 STOX weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
STOX largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 6.69% | 39.4 | 35.2 | 10.7 | 0.31% | 4.52% |
| NVDA | NVIDIA Corporation | 6.39% | 27.1 | 24.9 | 17.1 | 0.47% | 6.29% |
| BIGT | Roundhill BIG Tech ETF | 6.30% | — | — | — | — | — |
| MSFT | Microsoft Corporation | 5.40% | 29.5 | 25.1 | 11.8 | 0.74% | 4.88% |
| GOOGL | Alphabet Inc. | 5.14% | 17.1 | 22.8 | 9.3 | 0.26% | 8.02% |
| BRK.B | Berkshire Hathaway Inc. | 2.77% | 13.4 | 22.7 | 3.0 | — | 5.51% |
| AVGO | Broadcom Inc. | 2.53% | 43.3 | 19.4 | 17.6 | 0.79% | 1.55% |
| LLY | Eli Lilly and Company | 2.12% | 42.2 | 24.4 | 14.1 | 0.55% | 1.34% |
| MU | Micron Technology, Inc. | 2.10% | 11.8 | 7.0 | 7.5 | 0.07% | 4.74% |
| META | Meta Platforms, Inc. | 1.96% | 26.7 | 22.1 | 7.9 | 0.30% | 1.95% |
| AMZN | Amazon.com, Inc. | 1.89% | 20.1 | 23.6 | 3.5 | — | 2.51% |
| XOM | Exxon Mobil Corporation | 1.64% | 23.0 | 14.8 | 2.0 | 2.30% | 1.90% |
| AMD | Advanced Micro Devices, Inc. | 1.58% | 134.9 | 39.5 | 20.9 | — | 0.31% |
| JNJ | Johnson & Johnson | 1.48% | 38.8 | 21.0 | 6.2 | 2.10% | 1.02% |
| MA | Mastercard Incorporated | 1.17% | 34.0 | 24.2 | 15.4 | 0.56% | 0.92% |
| WMT | Walmart Inc. | 1.11% | 43.0 | 38.0 | 1.3 | 0.83% | 0.69% |
| COST | Costco Wholesale Corporation | 1.00% | 47.6 | 40.3 | 1.4 | 0.59% | 0.56% |
| CVX | Chevron Corporation | 0.97% | 21.2 | 15.2 | 2.1 | 3.16% | 1.21% |
| KO | The Coca-Cola Company | 0.91% | 28.2 | 25.3 | 8.1 | 2.26% | 0.86% |
| FGXXX | First American Funds Inc. - Government Obligations Fund | 0.86% | — | — | — | — | — |
| MRK | Merck & Co., Inc. | 0.85% | 115.8 | 15.3 | 5.4 | 2.33% | 0.20% |
| PG | The Procter & Gamble Company | 0.76% | 24.1 | 21.2 | 4.3 | 2.73% | 0.84% |
| PM | Philip Morris International Inc. | 0.74% | 29.5 | 20.9 | 7.5 | 3.12% | 0.67% |
| TJX | The TJX Companies, Inc. | 0.71% | 27.3 | 24.9 | 2.6 | 1.30% | 0.69% |
| PLTR | Palantir Technologies Inc. | 0.70% | 160.4 | 85.5 | 72.6 | — | 0.12% |
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 STOX valuation
Adding up its 164 holdings with company data, STOX trades at 24.4 times trailing earnings and 19.3 times analysts' forward estimates, with a price-to-book ratio of 5.56 and a dividend yield of 1.11%. Its earnings yield of 4.09% is 1.24 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 41.4% of the fund and earn 41.3% of its combined profit. By sector, Healthcare is the most expensive at 35.2 times earnings and Financial Services the cheapest at 15.0. Companies that lost money over the past year are 1.1% 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 92.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: STOX chart, STOX performance, STOX holdings, STOX dividends.
STOX valuation FAQ
What is the P/E ratio of STOX?
Based on its holdings, STOX has a trailing P/E of 24.4 and a forward P/E of 19.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of STOX?
The trailing earnings yield is 4.09% (1 ÷ P/E) and the forward earnings yield 5.17%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is STOX more expensive than the S&P 500?
STOX trades at 24.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.3 and 19.9.
What is the price-to-book ratio of STOX?
The holdings of STOX trade at 5.56 times book value, with a combined return on equity of 22.7%.
Which sector in STOX has the highest P/E?
Healthcare has the highest P/E at 35.2 and Financial Services the lowest at 15.0.