T. Rowe Price Global Equity ETF (TGLB) Valuation
TGLB valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.1 trailing earnings
- Forward P/E
- 19.5 analyst estimates
- Price / sales
- 2.80
- Price / book
- 4.43
- EV / EBITDA
- 17.8
- Earnings yield
- 3.98% inverse of P/E
- Dividend yield
- 0.81% of the holdings
- Return on equity
- 17.6% combined
- Net margin
- 11.2% combined
- Beta
- 1.18 weighted, vs S&P 500
TGLB valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TGLB | 25.1 | 19.5 | 2.80 | 4.43 | 0.81% | 17.6% | 11.2% | 3.5% |
| 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.
TGLB valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 29.2% | 34.1 | 23.9 | 5.27 | 10.59 | 0.48% | 31.1% |
| Financial Services | 18.4% | 13.9 | 11.6 | 2.76 | 2.02 | 1.88% | 14.5% |
| Communication Services | 12.8% | 23.1 | 24.6 | 7.89 | 5.46 | 0.22% | 23.7% |
| Industrials | 8.2% | 53.9 | 33.9 | 5.29 | 5.71 | 0.45% | 10.6% |
| Consumer Cyclical | 7.8% | 26.3 | 23.3 | 2.88 | 6.97 | 0.42% | 26.5% |
| Healthcare | 6.7% | 35.5 | 21.3 | 0.57 | 2.54 | 0.80% | 7.1% |
| Energy | 5.0% | 21.7 | 15.1 | 2.46 | 3.10 | 1.81% | 14.3% |
| Consumer Defensive | 1.2% | 47.6 | 40.3 | 1.45 | 11.97 | 0.59% | 25.1% |
TGLB 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 TGLB weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TGLB largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 6.63% | 27.1 | 24.9 | 17.1 | 0.47% | 8.04% |
| GOOG | Alphabet Inc. | 5.63% | 16.9 | 21.8 | 9.2 | 0.26% | 10.94% |
| AAPL | Apple Inc. | 3.84% | 39.4 | 35.2 | 10.7 | 0.31% | 3.20% |
| MSFT | Microsoft Corporation | 3.15% | 29.5 | 25.1 | 11.8 | 0.74% | 3.51% |
| HUM | Humana Inc. | 2.81% | 39.1 | 24.3 | 0.3 | 0.86% | 2.36% |
| COF | Capital One Financial Corporation | 2.76% | 13.0 | 8.5 | 2.6 | 1.59% | 6.98% |
| META | Meta Platforms, Inc. | 2.75% | 26.7 | 22.1 | 7.9 | 0.30% | 3.38% |
| 6098 | Recruit Holdings Co Ltd | 2.34% | — | — | — | — | — |
| DE | Deere & Company | 2.32% | 35.7 | 29.3 | 3.6 | 1.01% | 2.13% |
| COP | ConocoPhillips | 2.30% | 19.4 | 12.7 | 2.7 | 2.29% | 3.90% |
| FNV | Franco-Nevada Corporation | 2.26% | — | — | — | — | — |
| AMD | Advanced Micro Devices, Inc. | 2.24% | 134.9 | 39.5 | 20.9 | — | 0.55% |
| RNR | RenaissanceRe Holdings Ltd. | 2.24% | 6.1 | 8.1 | 1.3 | 0.47% | 12.14% |
| MRSH | Marsh & McLennan Companies, Inc. | 2.18% | 22.5 | 15.0 | 3.2 | 2.10% | 3.18% |
| AMZN | Amazon.com, Inc. | 2.16% | 20.1 | 23.6 | 3.5 | — | 3.52% |
| AVGO | Broadcom Inc. | 2.15% | 43.3 | 19.4 | 17.6 | 0.79% | 1.63% |
| HNR1 | Hannover Rück SE | 2.12% | — | — | — | — | — |
| FWONK | Liberty Media Corporation - Formula One Group | 2.11% | 110.7 | 48.1 | 5.7 | — | 0.63% |
| TDY | Teledyne Technologies Incorporated | 2.01% | 29.9 | 23.6 | 4.5 | — | 2.20% |
| CME | CME Group Inc. | 1.84% | 24.9 | 21.9 | 15.6 | 1.77% | 2.42% |
| AZN | AstraZeneca PLC | 1.81% | — | — | — | — | — |
| STLD | Steel Dynamics, Inc. | 1.80% | 21.8 | 10.0 | 1.7 | 0.88% | 2.71% |
| SPCX | Space Exploration Technologies Corp. | 1.77% | — | 200.0 | 83.5 | — | −0.26% |
| ORLY | O'Reilly Automotive, Inc. | 1.74% | 28.3 | 23.4 | 3.9 | — | 2.02% |
| JPM | JPMorgan Chase & Co. | 1.53% | 14.2 | 13.5 | 4.7 | 1.94% | 3.53% |
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 TGLB valuation
Adding up its 40 holdings with company data, TGLB trades at 25.1 times trailing earnings and 19.5 times analysts' forward estimates, with a price-to-book ratio of 4.43 and a dividend yield of 0.81%. Its earnings yield of 3.98% is 1.35 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 34.5% of the fund and earn 45.0% of its combined profit. By sector, Industrials is the most expensive at 53.9 times earnings and Financial Services the cheapest at 13.9. Companies that lost money over the past year are 3.5% 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 77.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TGLB chart, TGLB performance, TGLB holdings, TGLB dividends.
TGLB valuation FAQ
What is the P/E ratio of TGLB?
Based on its holdings, TGLB has a trailing P/E of 25.1 and a forward P/E of 19.5 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TGLB?
The trailing earnings yield is 3.98% (1 ÷ P/E) and the forward earnings yield 5.14%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TGLB more expensive than the S&P 500?
TGLB trades at 25.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.5 and 19.9.
What is the price-to-book ratio of TGLB?
The holdings of TGLB trade at 4.43 times book value, with a combined return on equity of 17.6%.
Which sector in TGLB has the highest P/E?
Industrials has the highest P/E at 53.9 and Financial Services the lowest at 13.9.