Lazard Equity Megatrends ETF (THMZ) Valuation
THMZ valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.0 trailing earnings
- Forward P/E
- 19.3 analyst estimates
- Price / sales
- 0.10
- Price / book
- 6.03
- EV / EBITDA
- 19.6
- Earnings yield
- 3.71% inverse of P/E
- Dividend yield
- 0.65% of the holdings
- Return on equity
- 22.4% combined
- Net margin
- 0.4% combined
- Beta
- 1.20 weighted, vs S&P 500
THMZ valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| THMZ | 27.0 | 19.3 | 0.10 | 6.03 | 0.65% | 22.4% | 0.4% | 1.6% |
| 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.
THMZ valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 34.1% | 30.5 | 22.2 | 2.03 | 11.98 | 0.57% | 39.3% |
| Financial Services | 18.4% | 20.2 | 12.7 | 0.02 | 3.40 | 1.12% | 16.8% |
| Healthcare | 14.9% | 32.7 | 20.2 | 4.71 | 4.14 | 0.78% | 12.6% |
| Communication Services | 7.6% | 24.8 | 22.8 | 7.77 | 7.63 | 0.21% | 30.7% |
| Consumer Cyclical | 5.4% | 24.4 | 25.7 | 3.18 | 5.89 | 0.00% | 24.1% |
THMZ 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 THMZ weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
THMZ largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing Company Limited | 5.29% | 26.7 | 21.4 | 0.4 | 0.91% | 7.52% |
| MSFT | Microsoft Corporation | 3.90% | 29.5 | 25.1 | 11.8 | 0.74% | 5.03% |
| AMZN | Amazon.com, Inc. | 3.83% | 20.1 | 23.6 | 3.5 | — | 7.22% |
| GOOGL | Alphabet Inc. | 3.25% | 17.1 | 22.8 | 9.3 | 0.26% | 7.22% |
| AMAT | Applied Materials, Inc. | 3.00% | 35.3 | 23.4 | 10.5 | 0.52% | 3.23% |
| NVDA | NVIDIA Corporation | 2.96% | 27.1 | 24.9 | 17.1 | 0.47% | 4.15% |
| TMO | Thermo Fisher Scientific Inc. | 2.67% | 37.1 | 24.2 | 5.5 | 0.27% | 2.73% |
| META | Meta Platforms, Inc. | 2.57% | 26.7 | 22.1 | 7.9 | 0.30% | 3.64% |
| KEYS | Keysight Technologies, Inc. | 2.34% | 44.8 | 22.4 | 8.6 | — | 1.98% |
| AAPL | Apple Inc. | 2.29% | 39.4 | 35.2 | 10.7 | 0.31% | 2.20% |
| DHR | Danaher Corporation | 2.23% | 40.8 | 23.8 | 6.4 | 0.70% | 2.07% |
| 6954 | Fanuc Corporation | 2.05% | — | — | — | — | — |
| LLY | Eli Lilly and Company | 1.96% | 42.2 | 24.4 | 14.1 | 0.55% | 1.77% |
| AVGO | Broadcom Inc. | 1.93% | 43.3 | 19.4 | 17.6 | 0.79% | 1.69% |
| AZN | AstraZeneca PLC | 1.86% | — | — | — | — | — |
| HXGBY | Hexagon AB ADR | 1.85% | — | — | — | — | — |
| 8801 | Mitsui Fudosan Co. Ltd. | 1.85% | — | — | — | — | — |
| ICE | Intercontinental Exchange, Inc. | 1.79% | 22.8 | 18.1 | 8.6 | 1.29% | 2.99% |
| MCO | Moody's Corporation | 1.77% | 30.8 | 24.3 | 10.3 | 0.85% | 2.18% |
| AMD | Advanced Micro Devices, Inc. | 1.73% | 134.9 | 39.5 | 20.9 | — | 0.49% |
| V | Visa Inc. | 1.71% | 34.3 | 24.0 | 17.0 | 0.67% | 1.89% |
| 6861 | Keyence | 1.70% | — | — | — | — | — |
| EPI-A | Epiroc AB (publ) | 1.69% | — | — | — | — | — |
| SYK | Stryker Corporation | 1.66% | 30.5 | 16.5 | 4.4 | 1.19% | 2.06% |
| KB | KB Financial Group Inc. | 1.65% | 10.2 | 3.8 | 0.0 | 2.79% | 6.14% |
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 THMZ valuation
Adding up its 40 holdings with company data, THMZ trades at 27.0 times trailing earnings and 19.3 times analysts' forward estimates, with a price-to-book ratio of 6.03 and a dividend yield of 0.65%. Its earnings yield of 3.71% is 1.62 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 32.1% of the fund and earn 44.9% of its combined profit. By sector, Healthcare is the most expensive at 32.7 times earnings and Financial Services the cheapest at 20.2. Companies that lost money over the past year are 1.6% 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 71.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: THMZ chart, THMZ performance, THMZ holdings, THMZ dividends.
THMZ valuation FAQ
What is the P/E ratio of THMZ?
Based on its holdings, THMZ has a trailing P/E of 27.0 and a forward P/E of 19.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of THMZ?
The trailing earnings yield is 3.71% (1 ÷ P/E) and the forward earnings yield 5.17%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is THMZ more expensive than the S&P 500?
THMZ trades at 27.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.3 and 19.9.
What is the price-to-book ratio of THMZ?
The holdings of THMZ trade at 6.03 times book value, with a combined return on equity of 22.4%.
Which sector in THMZ has the highest P/E?
Healthcare has the highest P/E at 32.7 and Financial Services the lowest at 20.2.