Harbor Transformative Technologies ETF (TEC) Valuation
TEC valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 43.1 trailing earnings
- Forward P/E
- 29.1 analyst estimates
- Price / sales
- 8.07
- Price / book
- 11.64
- EV / EBITDA
- 16.6
- Earnings yield
- 2.32% inverse of P/E
- Dividend yield
- 0.25% of the holdings
- Return on equity
- 27.0% combined
- Net margin
- 18.7% combined
- Beta
- 1.52 weighted, vs S&P 500
TEC valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TEC | 43.1 | 29.1 | 8.07 | 11.64 | 0.25% | 27.0% | 18.7% | 9.2% |
| 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.
TEC valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 70.9% | 52.3 | 29.8 | 8.52 | 15.23 | 0.29% | 29.1% |
| Communication Services | 9.5% | 19.9 | 22.1 | 8.37 | 7.24 | 0.25% | 36.3% |
| Consumer Cyclical | 9.2% | 29.3 | 31.1 | 4.76 | 6.62 | 0.00% | 22.6% |
| Healthcare | 4.2% | 105.8 | 28.4 | 19.79 | 6.77 | 0.00% | 6.4% |
| Industrials | 2.7% | 85.3 | 60.2 | 12.64 | 17.44 | 0.08% | 20.5% |
| Financial Services | 1.1% | 34.0 | 24.2 | 15.42 | 87.42 | 0.56% | 257.4% |
| Utilities | 1.1% | 26.5 | 20.7 | 3.07 | 3.16 | 0.63% | 11.9% |
TEC 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 TEC weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TEC largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 8.64% | 39.4 | 35.2 | 10.7 | 0.31% | 9.58% |
| NVDA | NVIDIA Corporation | 6.91% | 27.1 | 24.9 | 17.1 | 0.47% | 11.14% |
| MSFT | Microsoft Corporation | 6.54% | 29.5 | 25.1 | 11.8 | 0.74% | 9.68% |
| AMZN | Amazon.com, Inc. | 5.59% | 20.1 | 23.6 | 3.5 | — | 12.13% |
| GOOGL | Alphabet Inc. | 5.38% | 17.1 | 22.8 | 9.3 | 0.26% | 13.74% |
| AMD | Advanced Micro Devices, Inc. | 4.51% | 134.9 | 39.5 | 20.9 | — | 1.46% |
| SNOW | Snowflake Inc. | 3.39% | — | 169.5 | 19.9 | — | −1.53% |
| CRWD | CrowdStrike Holdings, Inc. | 3.22% | — | 208.3 | 43.1 | — | 0.04% |
| META | Meta Platforms, Inc. | 3.16% | 26.7 | 22.1 | 7.9 | 0.30% | 5.15% |
| LRCX | Lam Research Corporation | 3.15% | 45.8 | 33.7 | 14.2 | 0.50% | 3.00% |
| MU | Micron Technology, Inc. | 3.07% | 11.8 | 7.0 | 7.5 | 0.07% | 11.33% |
| AVGO | Broadcom Inc. | 3.01% | 43.3 | 19.4 | 17.6 | 0.79% | 3.03% |
| DDOG | Datadog, Inc. | 2.75% | 494.2 | 84.7 | 22.4 | — | 0.24% |
| ANET | Arista Networks, Inc. | 2.55% | 55.8 | 39.2 | 21.2 | — | 1.99% |
| TSLA | Tesla, Inc. | 2.49% | 328.4 | 158.7 | 13.5 | — | 0.33% |
| PANW | Palo Alto Networks, Inc. | 2.26% | 855.0 | 94.3 | 24.4 | — | 0.12% |
| ASML | ASML Holding N.V. | 1.82% | 40.4 | 28.9 | 16.0 | 0.55% | 1.96% |
| ADI | Analog Devices, Inc. | 1.72% | 47.0 | 23.2 | 13.8 | 1.11% | 1.60% |
| SHOP | Shopify Inc. | 1.72% | 114.5 | 58.8 | 16.6 | — | 0.65% |
| ROIV | Roivant Sciences Ltd. | 1.70% | — | — | 3,215.5 | — | −1.17% |
| PLTR | Palantir Technologies Inc. | 1.69% | 160.4 | 85.5 | 72.6 | — | 0.46% |
| ONTO | Onto Innovation Inc. | 1.64% | 83.0 | 22.8 | 9.7 | — | 0.87% |
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 1.58% | 26.7 | 21.4 | 0.4 | 0.91% | 2.57% |
| SPCX | Space Exploration Technologies Corp. | 1.46% | — | 200.0 | 83.5 | — | −0.28% |
| ISRG | Intuitive Surgical, Inc. | 1.37% | 48.9 | 33.3 | 13.7 | — | 1.22% |
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 TEC valuation
Adding up its 44 holdings with company data, TEC trades at 43.1 times trailing earnings and 29.1 times analysts' forward estimates, with a price-to-book ratio of 11.64 and a dividend yield of 0.25%. Its earnings yield of 2.32% is 3.01 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 50.5% of the fund and earn 64.4% of its combined profit. By sector, Healthcare is the most expensive at 105.8 times earnings and Communication Services the cheapest at 19.9. Companies that lost money over the past year are 9.2% 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: TEC chart, TEC performance, TEC holdings.
TEC valuation FAQ
What is the P/E ratio of TEC?
Based on its holdings, TEC has a trailing P/E of 43.1 and a forward P/E of 29.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TEC?
The trailing earnings yield is 2.32% (1 ÷ P/E) and the forward earnings yield 3.44%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TEC more expensive than the S&P 500?
TEC trades at 43.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 29.1 and 19.9.
What is the price-to-book ratio of TEC?
The holdings of TEC trade at 11.64 times book value, with a combined return on equity of 27.0%.
Which sector in TEC has the highest P/E?
Healthcare has the highest P/E at 105.8 and Communication Services the lowest at 19.9.