T. Rowe Price Equity Income ETF (TEQI) Valuation
TEQI valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 23.3 trailing earnings
- Forward P/E
- 14.9 analyst estimates
- Price / sales
- 1.94
- Price / book
- 2.81
- EV / EBITDA
- 12.5
- Earnings yield
- 4.29% inverse of P/E
- Dividend yield
- 1.95% of the holdings
- Return on equity
- 12.1% combined
- Net margin
- 8.3% combined
- Beta
- 0.86 weighted, vs S&P 500
TEQI valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TEQI | 23.3 | 14.9 | 1.94 | 2.81 | 1.95% | 12.1% | 8.3% | 6.6% |
| 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.
TEQI valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 19.9% | 37.8 | 24.4 | 7.17 | 7.63 | 0.73% | 20.2% |
| Financial Services | 18.7% | 15.7 | 10.2 | 1.92 | 1.75 | 2.13% | 11.2% |
| Healthcare | 13.9% | 28.4 | 12.3 | 0.88 | 2.31 | 2.14% | 8.2% |
| Consumer Cyclical | 9.4% | 32.2 | 18.9 | 2.25 | 4.41 | 1.26% | 13.7% |
| Industrials | 9.2% | 24.3 | 16.2 | 1.24 | 3.39 | 2.03% | 13.9% |
| Energy | 8.6% | 15.9 | 12.3 | 1.84 | 1.81 | 3.02% | 11.4% |
| Consumer Defensive | 6.4% | 24.8 | 18.9 | 2.56 | 8.88 | 2.95% | 35.9% |
| Utilities | 4.8% | 21.1 | 16.7 | 3.80 | 2.17 | 3.16% | 10.3% |
| Real Estate | 2.9% | 284.4 | 25.6 | 6.40 | 1.52 | 4.73% | 0.5% |
| Communication Services | 2.8% | 23.1 | 16.2 | 2.24 | 2.34 | 1.28% | 10.1% |
| Basic Materials | 1.7% | 9.0 | 12.2 | 2.36 | 3.52 | 1.99% | 39.3% |
TEQI 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 TEQI weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TEQI largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MSFT | Microsoft Corporation | 6.58% | 29.5 | 25.1 | 11.8 | 0.74% | 5.44% |
| AMZN | Amazon.com, Inc. | 6.11% | 20.1 | 23.6 | 3.5 | — | 7.40% |
| AAPL | Apple Inc. | 4.77% | 39.4 | 35.2 | 10.7 | 0.31% | 2.95% |
| MET | MetLife, Inc. | 2.26% | 19.3 | 10.5 | 0.8 | 2.35% | 2.86% |
| INTC | Intel Corporation | 1.87% | — | 63.3 | 8.3 | — | −1.07% |
| JPM | JPMorgan Chase & Co. | 1.77% | 14.2 | 13.5 | 4.7 | 1.94% | 3.02% |
| TTE | TotalEnergies SE | 1.76% | 11.4 | 8.8 | 1.0 | 4.42% | 3.75% |
| SO | The Southern Company | 1.72% | 22.0 | 17.0 | 3.5 | 3.33% | 1.91% |
| QCOM | QUALCOMM Incorporated | 1.70% | 19.9 | 19.6 | 4.2 | 2.14% | 2.08% |
| COP | ConocoPhillips | 1.67% | 19.4 | 12.7 | 2.7 | 2.29% | 2.09% |
| C | Citigroup Inc. | 1.58% | 12.1 | 10.2 | 2.5 | 2.16% | 3.19% |
| ELV | Elevance Health Inc. | 1.56% | 19.0 | 13.7 | 0.5 | 1.61% | 2.00% |
| SCHW | The Charles Schwab Corporation | 1.53% | 15.7 | 12.9 | 5.9 | 1.39% | 2.38% |
| EQH | Equitable Holdings, Inc. | 1.53% | — | 5.8 | 1.4 | 2.14% | −2.36% |
| CL | Colgate-Palmolive Company | 1.52% | 37.1 | 21.0 | 3.6 | 2.25% | 1.00% |
| BA | The Boeing Company | 1.43% | 67.9 | 49.5 | 1.6 | — | 0.51% |
| XOM | Exxon Mobil Corporation | 1.43% | 23.0 | 14.8 | 2.0 | 2.30% | 1.51% |
| SWK | Stanley Black & Decker, Inc. | 1.41% | 22.6 | 14.5 | 0.9 | 3.63% | 1.51% |
| CB | Chubb Limited | 1.40% | 12.7 | 11.6 | 2.2 | 1.13% | 2.68% |
| BDX | Becton, Dickinson and Company | 1.36% | 44.6 | 13.7 | 2.3 | 2.19% | 0.74% |
| USB | U.S. Bancorp | 1.34% | 11.4 | 10.4 | 3.3 | 3.68% | 2.86% |
| MRK | Merck & Co., Inc. | 1.30% | 115.8 | 15.3 | 5.4 | 2.33% | 0.27% |
| CVS | CVS Health Corporation | 1.23% | 24.3 | 10.7 | 0.3 | 2.88% | 1.24% |
| PG | The Procter & Gamble Company | 1.22% | 24.1 | 21.2 | 4.3 | 2.73% | 1.24% |
| PM | Philip Morris International Inc. | 1.18% | 29.5 | 20.9 | 7.5 | 3.12% | 0.98% |
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 TEQI valuation
Adding up its 106 holdings with company data, TEQI trades at 23.3 times trailing earnings and 14.9 times analysts' forward estimates, with a price-to-book ratio of 2.81 and a dividend yield of 1.95%. Its earnings yield of 4.29% is 1.03 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 30.2% of the fund and earn 30.4% of its combined profit. By sector, Real Estate is the most expensive at 284.4 times earnings and Basic Materials the cheapest at 9.0. Companies that lost money over the past year are 6.6% 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 96.9% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TEQI chart, TEQI performance, TEQI holdings, TEQI dividends.
TEQI valuation FAQ
What is the P/E ratio of TEQI?
Based on its holdings, TEQI has a trailing P/E of 23.3 and a forward P/E of 14.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TEQI?
The trailing earnings yield is 4.29% (1 ÷ P/E) and the forward earnings yield 6.71%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TEQI more expensive than the S&P 500?
TEQI trades at 23.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.9 and 19.9.
What is the price-to-book ratio of TEQI?
The holdings of TEQI trade at 2.81 times book value, with a combined return on equity of 12.1%.
Which sector in TEQI has the highest P/E?
Real Estate has the highest P/E at 284.4 and Basic Materials the lowest at 9.0.