Tortoise Global Water Fund (TBLU) Valuation
TBLU valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.9 trailing earnings
- Forward P/E
- 18.5 analyst estimates
- Price / sales
- 2.17
- Price / book
- 3.33
- EV / EBITDA
- 14.3
- Earnings yield
- 4.18% inverse of P/E
- Dividend yield
- 1.48% of the holdings
- Return on equity
- 13.9% combined
- Net margin
- 9.1% combined
- Beta
- 0.82 weighted, vs S&P 500
TBLU valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TBLU | 23.9 | 18.5 | 2.17 | 3.33 | 1.48% | 13.9% | 9.1% | 0.0% |
| 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.
TBLU valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 61.3% | 24.0 | 18.3 | 2.38 | 4.06 | 1.21% | 16.9% |
| Utilities | 27.9% | 19.3 | 16.1 | 1.51 | 2.03 | 2.28% | 10.5% |
| Basic Materials | 8.2% | 38.3 | 29.5 | 4.69 | 7.48 | 1.00% | 19.6% |
| Consumer Defensive | 0.7% | 65.7 | 13.3 | 1.06 | 2.40 | 2.43% | 3.6% |
| Technology | 0.5% | 29.6 | 26.2 | 4.16 | 5.61 | 1.39% | 19.0% |
| Energy | 0.5% | 101.6 | 23.5 | 2.50 | 2.27 | 1.16% | 2.2% |
TBLU 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 TBLU weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TBLU largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| VLTO | Veralto Corporation | 8.17% | 25.8 | 20.0 | 4.3 | 0.51% | 11.92% |
| ECL | Ecolab Inc. | 8.14% | 38.8 | 29.7 | 4.8 | 1.01% | 7.89% |
| FERG | Ferguson plc | 7.42% | 22.8 | 17.6 | 1.4 | 1.54% | 12.24% |
| AWK | American Water Works Company, Inc. | 7.42% | 23.4 | 20.0 | 5.1 | 2.65% | 11.93% |
| XYL | Xylem Inc. | 7.37% | 24.8 | 17.4 | 2.7 | 1.65% | 11.19% |
| VIE | Veolia Environnement VE SA | 7.27% | — | — | — | — | — |
| SBS | Companhia de Saneamento Básico do Estado de São Paulo - SABESP | 4.67% | 14.2 | 11.5 | 0.5 | 0.53% | 12.33% |
| UU | United Utilities Group PLC | 4.56% | — | — | — | — | — |
| GEBN | Geberit AG | 3.99% | — | — | — | — | — |
| WTRG | Essential Utilities, Inc. | 3.94% | 20.8 | 16.8 | 4.5 | 3.53% | 7.11% |
| SVT | Severn Trent PLC | 3.90% | — | — | — | — | — |
| IEX | IDEX Corporation | 3.81% | 33.9 | 24.0 | 4.8 | 1.24% | 4.23% |
| BEAN | Belimo Holding | 3.09% | — | — | — | — | — |
| STN | Stantec Inc | 2.95% | — | — | — | — | — |
| GF | Georg Fischer AG | 1.87% | — | — | — | — | — |
| 6370 | Kurita Water Industries Ltd | 1.35% | — | — | — | — | — |
| WMS | Advanced Drainage Systems, Inc. | 1.16% | 21.8 | 20.8 | 3.0 | 0.62% | 1.99% |
| WTS | Watts Water Technologies, Inc. | 1.16% | 31.2 | 25.3 | 4.4 | 0.64% | 1.40% |
| TTEK | Tetra Tech, Inc. | 1.12% | 20.9 | 19.9 | 2.0 | 0.83% | 2.01% |
| PNR | Pentair plc | 1.11% | 13.8 | 10.7 | 2.1 | 2.02% | 3.02% |
| 0270 | Guangdong Investment Ltd | 1.04% | — | — | — | — | — |
| 5938 | Lixil Group | 1.02% | — | — | — | — | — |
| CNM | Core & Main, Inc. | 0.93% | 17.3 | 17.2 | 1.0 | — | 2.03% |
| 5947 | Rinnai Corporation | 0.86% | — | — | — | — | — |
| ZWS | Zurn Elkay Water Solutions Corporation | 0.85% | 29.2 | 22.9 | 4.4 | 0.94% | 1.10% |
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 TBLU valuation
Adding up its 34 holdings with company data, TBLU trades at 23.9 times trailing earnings and 18.5 times analysts' forward estimates, with a price-to-book ratio of 3.33 and a dividend yield of 1.48%. Its earnings yield of 4.18% is 1.15 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 63.0% of the fund and earn 82.2% of its combined profit. By sector, Energy is the most expensive at 101.6 times earnings and Utilities the cheapest at 19.3. Companies that lost money over the past year are 0.0% 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 63.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TBLU chart, TBLU performance, TBLU holdings, TBLU dividends.
TBLU valuation FAQ
What is the P/E ratio of TBLU?
Based on its holdings, TBLU has a trailing P/E of 23.9 and a forward P/E of 18.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TBLU?
The trailing earnings yield is 4.18% (1 ÷ P/E) and the forward earnings yield 5.41%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TBLU more expensive than the S&P 500?
TBLU trades at 23.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.5 and 19.9.
What is the price-to-book ratio of TBLU?
The holdings of TBLU trade at 3.33 times book value, with a combined return on equity of 13.9%.
Which sector in TBLU has the highest P/E?
Energy has the highest P/E at 101.6 and Utilities the lowest at 19.3.