Amplify Samsung U.S. Natural Gas… (USNG) Valuation
USNG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 22.8 trailing earnings
- Forward P/E
- 18.3 analyst estimates
- Price / sales
- 1.31
- Price / book
- 3.95
- EV / EBITDA
- 12.3
- Earnings yield
- 4.38% inverse of P/E
- Dividend yield
- 3.48% of the holdings
- Return on equity
- 17.3% combined
- Net margin
- 5.7% combined
- Beta
- 0.94 weighted, vs S&P 500
USNG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| USNG | 22.8 | 18.3 | 1.31 | 3.95 | 3.48% | 17.3% | 5.7% | 2.3% |
| 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.
USNG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Energy | 74.1% | 19.9 | 16.6 | 1.08 | 3.58 | 4.23% | 18.0% |
| Industrials | 12.5% | 49.9 | 37.2 | 7.02 | 12.37 | 0.25% | 24.8% |
| Utilities | 2.0% | 20.8 | 15.4 | 2.82 | 1.61 | 3.24% | 7.8% |
| Basic Materials | 1.7% | n/m | 19.9 | 5.29 | 4.60 | 2.42% | −0.3% |
USNG 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 USNG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
USNG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WMB | The Williams Companies, Inc. | 8.22% | 28.4 | 26.8 | 7.1 | 2.95% | 9.05% |
| KMI | Kinder Morgan, Inc. | 8.13% | 22.1 | 20.0 | 4.2 | 3.45% | 11.52% |
| SOI | Solaris Oilfield Infrastructure Inc | 7.61% | — | — | — | — | — |
| BE | Bloom Energy Corporation | 7.23% | 291.2 | 57.1 | 20.9 | — | 0.78% |
| MPLX | MPLX LP | 6.22% | 12.5 | 12.2 | 4.9 | 7.40% | 15.54% |
| TRGP | Targa Resources Corp. | 5.00% | 28.2 | 23.2 | 3.8 | 1.70% | 5.54% |
| PAGP | Plains GP Holdings, L.P. | 4.98% | 62.4 | 12.1 | 0.1 | 6.08% | 2.50% |
| ENB | Enbridge Inc | 4.37% | — | — | — | — | — |
| TRP | TC Energy Corp | 4.14% | — | — | — | — | — |
| WES | Western Midstream Partners, LP | 4.13% | 14.1 | 11.3 | 4.3 | 8.34% | 9.14% |
| LNG | Cheniere Energy, Inc. | 3.74% | 21.9 | 13.5 | 2.9 | 0.77% | 5.33% |
| DTM | DT Midstream, Inc. | 3.69% | 27.1 | 22.1 | 9.6 | 2.85% | 4.27% |
| GEV | GE Vernova Inc. | 3.29% | 26.4 | 38.8 | 5.9 | 0.22% | 3.89% |
| VG | Venture Global, Inc. | 3.29% | 10.0 | 14.4 | 1.9 | 1.26% | 10.25% |
| US50012A1088 | KODIAK GAS SERVICES INC | 2.98% | — | — | — | — | — |
| AROC | Archrock, Inc. | 2.92% | 15.9 | 14.3 | 3.4 | 3.11% | 5.74% |
| FLNG | FLEX LNG Ltd. | 2.43% | 15.2 | 12.4 | 4.2 | 10.63% | 4.99% |
| GLNG | Golar LNG Limited | 2.14% | 31.0 | 40.2 | 8.8 | 2.21% | 2.16% |
| PPL | PPL Corporation | 2.01% | 20.8 | 15.4 | 2.8 | 3.24% | 3.01% |
| KNTK | Kinetik Holdings Inc. | 1.97% | 19.3 | 21.4 | 5.0 | 5.86% | 3.19% |
| WOR | Worthington Industries, Inc. | 1.95% | 19.4 | 15.7 | 2.2 | 1.25% | 3.14% |
| APD | Air Products and Chemicals, Inc. | 1.65% | — | 19.9 | 5.3 | 2.42% | −0.04% |
| AGPXX | Invesco Short-Term Investments Trust Government & Agency Portfolio Institutional | 1.45% | — | — | — | — | — |
| YZ8 | Permian Resources Corporation | 1.08% | — | — | — | — | — |
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 USNG valuation
Adding up its 18 holdings with company data, USNG trades at 22.8 times trailing earnings and 18.3 times analysts' forward estimates, with a price-to-book ratio of 3.95 and a dividend yield of 3.48%. Its earnings yield of 4.38% is 0.94 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 60.0% of the fund and earn 67.6% of its combined profit. By sector, Industrials is the most expensive at 49.9 times earnings and Energy the cheapest at 19.9. Companies that lost money over the past year are 2.3% 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 77.1% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: USNG chart, USNG performance, USNG holdings, USNG dividends.
USNG valuation FAQ
What is the P/E ratio of USNG?
Based on its holdings, USNG has a trailing P/E of 22.8 and a forward P/E of 18.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of USNG?
The trailing earnings yield is 4.38% (1 ÷ P/E) and the forward earnings yield 5.46%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is USNG more expensive than the S&P 500?
USNG trades at 22.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.3 and 19.9.
What is the price-to-book ratio of USNG?
The holdings of USNG trade at 3.95 times book value, with a combined return on equity of 17.3%.
Which sector in USNG has the highest P/E?
Industrials has the highest P/E at 49.9 and Energy the lowest at 19.9.