AAM Transformers ETF (TRFM) Valuation
TRFM valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 51.1 trailing earnings
- Forward P/E
- 24.2 analyst estimates
- Price / sales
- 2.18
- Price / book
- 5.87
- EV / EBITDA
- 22.4
- Earnings yield
- 1.96% inverse of P/E
- Dividend yield
- 0.55% of the holdings
- Return on equity
- 11.5% combined
- Net margin
- 4.3% combined
- Beta
- 1.41 weighted, vs S&P 500
TRFM valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| TRFM | 51.1 | 24.2 | 2.18 | 5.87 | 0.55% | 11.5% | 4.3% | 13.7% |
| 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.
TRFM valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 52.9% | 66.1 | 26.9 | 3.57 | 8.48 | 0.35% | 12.8% |
| Industrials | 20.7% | 47.8 | 24.8 | 1.82 | 5.57 | 0.52% | 11.7% |
| Utilities | 8.8% | 23.7 | 16.4 | 2.47 | 2.48 | 2.62% | 10.5% |
| Consumer Cyclical | 6.8% | 68.1 | 22.4 | 0.55 | 3.54 | 0.07% | 5.2% |
| Communication Services | 5.3% | 34.9 | 20.0 | 2.40 | 7.54 | 0.10% | 21.6% |
| Financial Services | 1.8% | 36.6 | 25.7 | 5.25 | 6.40 | 0.38% | 17.5% |
| Consumer Defensive | 0.3% | 20.8 | 19.2 | 1.98 | 2.59 | 0.00% | 12.4% |
| Information Technology | 0.2% | n/m | 45.0 | 20.20 | 2.74 | 0.00% | −2.7% |
TRFM 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 TRFM weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
TRFM largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| DDOG | Datadog, Inc. | 0.88% | 494.2 | 84.7 | 22.4 | — | 0.11% |
| PLTR | Palantir Technologies Inc. | 0.85% | 160.4 | 85.5 | 72.6 | — | 0.32% |
| TXN | Texas Instruments Incorporated | 0.85% | 42.1 | 27.5 | 13.0 | 2.20% | 1.22% |
| AMD | Advanced Micro Devices, Inc. | 0.85% | 134.9 | 39.5 | 20.9 | — | 0.38% |
| AAPL | Apple Inc. | 0.84% | 39.4 | 35.2 | 10.7 | 0.31% | 1.29% |
| META | Meta Platforms, Inc. | 0.84% | 26.7 | 22.1 | 7.9 | 0.30% | 1.90% |
| CRWD | CrowdStrike Holdings, Inc. | 0.84% | — | 208.3 | 43.1 | — | 0.01% |
| FTNT | Fortinet, Inc. | 0.83% | 59.8 | 45.0 | 16.5 | — | 0.84% |
| ADI | Analog Devices, Inc. | 0.82% | 47.0 | 23.2 | 13.8 | 1.11% | 1.06% |
| V | Visa Inc. | 0.80% | 34.3 | 24.0 | 17.0 | 0.67% | 1.41% |
| PANW | Palo Alto Networks, Inc. | 0.77% | 855.0 | 94.3 | 24.4 | — | 0.05% |
| AEP | American Electric Power Company, Inc. | 0.77% | 22.0 | 17.2 | 3.0 | 2.99% | 2.10% |
| SO | The Southern Company | 0.77% | 22.0 | 17.0 | 3.5 | 3.33% | 2.11% |
| TSLA | Tesla, Inc. | 0.77% | 328.4 | 158.7 | 13.5 | — | 0.14% |
| MRVL | Marvell Technology, Inc. | 0.76% | 72.3 | 62.1 | 21.7 | 0.11% | 0.63% |
| NET | Cloudflare, Inc. | 0.76% | — | 178.6 | 42.0 | — | −0.08% |
| EMR | Emerson Electric Co. | 0.76% | 35.3 | 21.5 | 4.9 | 1.37% | 1.29% |
| CDNS | Cadence Design Systems, Inc. | 0.76% | 63.5 | 31.5 | 15.1 | — | 0.72% |
| AMZN | Amazon.com, Inc. | 0.76% | 20.1 | 23.6 | 3.5 | — | 2.27% |
| CRM | Salesforce, Inc. | 0.76% | 22.0 | 14.0 | 4.5 | 0.73% | 2.07% |
| GOOGL | Alphabet Inc. | 0.76% | 17.1 | 22.8 | 9.3 | 0.26% | 2.67% |
| CSCO | Cisco Systems, Inc. | 0.75% | 32.2 | 19.8 | 6.7 | 1.56% | 1.41% |
| NOW | ServiceNow, Inc. | 0.75% | 88.7 | 27.8 | 10.0 | — | 0.51% |
| MSFT | Microsoft Corporation | 0.74% | 29.5 | 25.1 | 11.8 | 0.74% | 1.52% |
| NVDA | NVIDIA Corporation | 0.73% | 27.1 | 24.9 | 17.1 | 0.47% | 1.64% |
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 TRFM valuation
Adding up its 218 holdings with company data, TRFM trades at 51.1 times trailing earnings and 24.2 times analysts' forward estimates, with a price-to-book ratio of 5.87 and a dividend yield of 0.55%. Its earnings yield of 1.96% is 3.37 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 8.4% of the fund and earn 8.5% of its combined profit. By sector, Consumer Cyclical is the most expensive at 68.1 times earnings and Consumer Defensive the cheapest at 20.8. Companies that lost money over the past year are 13.7% 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 86.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: TRFM chart, TRFM performance, TRFM holdings, TRFM dividends.
TRFM valuation FAQ
What is the P/E ratio of TRFM?
Based on its holdings, TRFM has a trailing P/E of 51.1 and a forward P/E of 24.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of TRFM?
The trailing earnings yield is 1.96% (1 ÷ P/E) and the forward earnings yield 4.13%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is TRFM more expensive than the S&P 500?
TRFM trades at 51.1 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 24.2 and 19.9.
What is the price-to-book ratio of TRFM?
The holdings of TRFM trade at 5.87 times book value, with a combined return on equity of 11.5%.
Which sector in TRFM has the highest P/E?
Consumer Cyclical has the highest P/E at 68.1 and Consumer Defensive the lowest at 20.8.