Thrivent Mid Cap Value ETF (TMVE) Valuation

NYSE Arca: TMVEP/E, earnings yield and other ratios of the holdings combined.

TMVE valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 39.6
Forward P/E: 14.0
Price / sales: 1.49
Price / book: 2.47
EV / EBITDA: 12.4
Earnings yield: 2.52%
Dividend yield: 2.03%
Return on equity: 6.2%
Net margin: 3.7%
Beta: 0.93

TMVE valuation vs other stock ETFs

P/E (TTM)Forward P/E

TMVE valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
TMVE	39.6	14.0	1.49	2.47	2.03%	6.2%	3.7%	9.4%
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.

TMVE valuation by sector

P/E (TTM)Forward P/E

TMVE valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Industrials	16.2%	103.3	15.8	1.14	3.59	1.10%	3.5%
Financial Services	16.1%	18.5	10.3	2.33	1.33	2.37%	7.2%
Technology	10.1%	70.1	17.9	1.48	5.09	0.46%	7.3%
Consumer Cyclical	9.7%	n/m	13.6	0.76	3.15	2.29%	−28.1%
Healthcare	8.3%	33.4	19.1	1.64	3.02	1.00%	9.0%
Energy	8.1%	15.2	11.3	1.85	1.60	3.31%	10.6%
Utilities	7.8%	23.2	17.6	2.79	2.49	2.42%	10.7%
Real Estate	7.2%	15.2	13.6	2.29	2.36	5.19%	15.6%
Consumer Defensive	5.9%	23.0	18.3	1.13	6.78	2.61%	29.5%
Basic Materials	5.0%	91.8	10.7	1.14	2.29	1.90%	2.5%
Communication Services	2.6%	35.4	17.4	3.21	11.43	1.40%	32.3%

TMVE earnings yield vs bond yields

TMVE earnings yield (forward)

7.12%

TMVE earnings yield (trailing)

2.52%

TMVE dividend yield

2.03%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 TMVE weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

TMVE largest holdings: valuation

TMVE largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
MTB	M&T Bank Corporation	2.24%	11.4	10.6	3.3	2.79%	8.51%
ICE	Intercontinental Exchange, Inc.	2.20%	22.8	18.1	8.6	1.29%	4.18%
USB	U.S. Bancorp	2.03%	11.4	10.4	3.3	3.68%	7.68%
PPG	PPG Industries, Inc.	2.01%	15.4	12.4	1.5	2.76%	5.65%
GD	General Dynamics Corporation	1.94%	21.0	18.5	1.7	1.85%	3.99%
AIG	American International Group, Inc.	1.94%	14.8	8.5	1.6	2.48%	5.67%
CCK	Crown Holdings, Inc.	1.92%	16.4	12.1	0.9	1.15%	5.05%
COF	Capital One Financial Corporation	1.85%	13.0	8.5	2.6	1.59%	6.19%
STE	STERIS plc	1.82%	27.2	19.2	3.6	1.16%	2.90%
SFNC	Simmons First National Corporation	1.82%	—	9.5	3.4	3.90%	−8.57%
TMO	Thermo Fisher Scientific Inc.	1.72%	37.1	24.2	5.5	0.27%	2.00%
HAL	Halliburton Company	1.72%	17.6	11.4	1.2	2.03%	4.22%
LH	Laboratory Corporation of America Holdings	1.69%	26.3	16.2	1.8	0.91%	2.79%
FLR	Fluor Corporation	1.59%	—	16.5	0.4	—	−17.42%
EQR	Equity Residential	1.56%	—	—	—	—	—
DVN	Devon Energy Corporation	1.54%	11.1	9.3	3.0	2.52%	6.01%
GFF	Griffon Corporation	1.54%	20.0	10.2	1.7	0.95%	3.32%
UL	Unilever PLC	1.50%	13.4	16.4	2.8	3.21%	4.86%
SYY	Sysco Corporation	1.49%	21.9	15.2	0.5	2.68%	2.94%
EPD	Enterprise Products Partners L.P.	1.44%	12.8	11.9	1.4	6.08%	4.88%
CEG	Constellation Energy Corporation	1.42%	26.5	20.7	3.1	0.63%	2.31%
WMG	Warner Music Group Corp.	1.42%	25.1	13.1	2.2	2.55%	2.44%
YUMC	Yum China Holdings, Inc.	1.41%	16.5	12.3	1.2	2.57%	3.69%
AYI	Acuity Brands, Inc.	1.37%	17.8	14.1	2.0	0.26%	3.34%
FLS	Flowserve Corporation	1.36%	24.6	16.5	1.9	1.25%	2.39%

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 TMVE valuation

Adding up its 76 holdings with company data, TMVE trades at 39.6 times trailing earnings and 14.0 times analysts' forward estimates, with a price-to-book ratio of 2.47 and a dividend yield of 2.03%. Its earnings yield of 2.52% is 2.80 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 19.8% of the fund and earn 41.3% of its combined profit. By sector, Industrials is the most expensive at 103.3 times earnings and Energy the cheapest at 15.2. Companies that lost money over the past year are 9.4% 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 94.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

TMVE valuation FAQ

What is the P/E ratio of TMVE?

Based on its holdings, TMVE has a trailing P/E of 39.6 and a forward P/E of 14.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of TMVE?

The trailing earnings yield is 2.52% (1 ÷ P/E) and the forward earnings yield 7.12%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is TMVE more expensive than the S&P 500?

TMVE trades at 39.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.0 and 19.9.

What is the price-to-book ratio of TMVE?

The holdings of TMVE trade at 2.47 times book value, with a combined return on equity of 6.2%.

Which sector in TMVE has the highest P/E?

Industrials has the highest P/E at 103.3 and Energy the lowest at 15.2.