Towle Value ETF (TCV) Valuation
TCV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 120.9 trailing earnings
- Forward P/E
- 10.2 analyst estimates
- Price / sales
- 0.34
- Price / book
- 1.52
- EV / EBITDA
- 8.4
- Earnings yield
- 0.83% inverse of P/E
- Dividend yield
- 1.28% of the holdings
- Return on equity
- 1.3% combined
- Net margin
- 0.3% combined
- Beta
- 1.11 weighted, vs S&P 500
TCV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TCV | 120.9 | 10.2 | 0.34 | 1.52 | 1.28% | 1.3% | 0.3% | 19.9% |
| 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.
TCV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 21.8% | 22.6 | 7.6 | 0.34 | 1.57 | 0.37% | 6.9% |
| Consumer Cyclical | 16.1% | n/m | 9.1 | 0.41 | 0.98 | 1.50% | −9.1% |
| Healthcare | 13.1% | 30.4 | 16.5 | 0.48 | 2.65 | 0.00% | 8.7% |
| Industrials | 12.9% | n/m | 14.2 | 0.32 | 3.12 | 1.99% | −5.0% |
| Financial Services | 9.4% | 10.3 | 10.4 | 2.99 | 1.43 | 5.77% | 13.8% |
| Energy | 8.6% | 13.2 | 11.2 | 0.15 | 1.41 | 1.39% | 10.7% |
| Consumer Defensive | 8.0% | n/m | 9.5 | 0.22 | 1.12 | 0.21% | −5.9% |
| Communication Services | 4.0% | 26.5 | 22.2 | 0.44 | 0.88 | 2.66% | 3.3% |
| Real Estate | 2.8% | 152.2 | 7.2 | 0.66 | 2.36 | 0.00% | 1.6% |
| Basic Materials | 2.0% | 19.8 | 15.0 | 1.29 | 1.76 | 1.85% | 8.9% |
TCV 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 TCV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TCV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ARW | Arrow Electronics, Inc. | 3.19% | 13.7 | 5.0 | 0.3 | — | 29.88% |
| PGNY | Progyny, Inc. | 2.93% | 29.2 | 11.8 | 1.6 | — | 12.90% |
| HOG | Harley-Davidson, Inc. | 2.83% | 14.7 | 12.3 | 0.7 | 2.80% | 24.76% |
| COMP | Compass, Inc. | 2.81% | 152.2 | 7.2 | 0.7 | — | 2.37% |
| NSP | Insperity, Inc. | 2.75% | — | 18.1 | 0.3 | 4.67% | −3.02% |
| MOH | Molina Healthcare, Inc. | 2.73% | — | 18.9 | 0.3 | — | 0.15% |
| AMN | AMN Healthcare Services, Inc. | 2.64% | 15.1 | 18.0 | 0.5 | — | 22.46% |
| FIVN | Five9, Inc. | 2.58% | 46.7 | 9.9 | 2.0 | — | 7.09% |
| PBF | PBF Energy Inc. | 2.55% | 7.4 | 8.4 | 0.3 | 1.30% | 44.02% |
| OSCR | Oscar Health, Inc. | 2.53% | 24.7 | 588.2 | 0.6 | — | 13.15% |
| AMRK_old | Amark Preci | 2.52% | — | — | — | — | — |
| PD | PagerDuty, Inc. | 2.37% | 8.0 | 11.0 | 2.6 | — | 38.01% |
| MEI | Methode Electronics, Inc. | 2.30% | — | 10.2 | 0.5 | 1.50% | −23.02% |
| INGM | Ingram Micro Holding Corporation | 2.24% | 14.6 | 7.3 | 0.1 | 1.29% | 19.76% |
| SNX | TD SYNNEX Corporation | 2.23% | 15.0 | 12.7 | 0.3 | 0.78% | 19.03% |
| ASTH | Astrana Health, Inc. | 2.22% | 44.3 | 9.0 | 0.5 | — | 6.43% |
| LEA | Lear Corporation | 2.21% | 11.2 | 6.9 | 0.2 | 2.57% | 25.35% |
| ARCB | ArcBest Corporation | 2.18% | 188.4 | 13.7 | 0.7 | 0.37% | 1.48% |
| IMKTA | Ingles Markets, Incorporated | 2.17% | 15.8 | 8.6 | 0.3 | 0.76% | 17.63% |
| PVH | PVH Corp. | 2.17% | — | 6.3 | 0.4 | 0.18% | −11.38% |
| APAM | Artisan Partners Asset Management Inc. | 2.17% | 7.8 | 8.6 | 1.8 | 10.72% | 35.74% |
| PARR | Par Pacific Holdings, Inc. | 2.15% | 4.9 | 10.5 | 0.5 | — | 56.69% |
| NSIT | Insight Enterprises, Inc. | 2.09% | 23.6 | 11.9 | 0.5 | — | 11.38% |
| BWA | BorgWarner Inc. | 2.09% | 29.1 | 11.9 | 0.8 | 1.17% | 9.21% |
| NOV | NOV Inc. | 2.03% | 70.1 | 15.6 | 0.8 | 1.90% | 3.71% |
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 TCV valuation
Adding up its 48 holdings with company data, TCV trades at 120.9 times trailing earnings and 10.2 times analysts' forward estimates, with a price-to-book ratio of 1.52 and a dividend yield of 1.28%. Its earnings yield of 0.83% is 4.50 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 27.6% of the fund and earn 153.8% of its combined profit. By sector, Real Estate is the most expensive at 152.2 times earnings and Financial Services the cheapest at 10.3. Companies that lost money over the past year are 19.9% 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 94.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TCV chart, TCV performance, TCV holdings, TCV dividends.
TCV valuation FAQ
What is the P/E ratio of TCV?
Based on its holdings, TCV has a trailing P/E of 120.9 and a forward P/E of 10.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TCV?
The trailing earnings yield is 0.83% (1 ÷ P/E) and the forward earnings yield 9.85%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TCV more expensive than the S&P 500?
TCV trades at 120.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 10.2 and 19.9.
What is the price-to-book ratio of TCV?
The holdings of TCV trade at 1.52 times book value, with a combined return on equity of 1.3%.
Which sector in TCV has the highest P/E?
Real Estate has the highest P/E at 152.2 and Financial Services the lowest at 10.3.