Vanguard Small-Cap ETF (VB) Valuation
VB valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 39.9 trailing earnings
- Forward P/E
- 15.3 analyst estimates
- Price / sales
- 1.50
- Price / book
- 2.65
- EV / EBITDA
- 12.6
- Earnings yield
- 2.51% inverse of P/E
- Dividend yield
- 1.35% of the holdings
- Return on equity
- 6.6% combined
- Net margin
- 3.8% combined
- Beta
- 1.12 weighted, vs S&P 500
VB valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VB | 39.9 | 15.3 | 1.50 | 2.65 | 1.35% | 6.6% | 3.8% | 17.5% |
| 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.
VB valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 17.9% | 54.1 | 18.8 | 2.27 | 4.78 | 0.23% | 8.8% |
| Industrials | 17.3% | 42.1 | 17.6 | 1.40 | 3.60 | 0.86% | 8.6% |
| Healthcare | 14.1% | n/m | 18.6 | 2.45 | 4.20 | 0.13% | −2.0% |
| Financial Services | 12.7% | 18.6 | 10.6 | 1.50 | 1.60 | 2.17% | 8.6% |
| Consumer Cyclical | 11.1% | 31.6 | 13.3 | 0.85 | 2.90 | 1.34% | 9.2% |
| Real Estate | 7.3% | 31.1 | 22.9 | 3.35 | 1.76 | 4.91% | 5.7% |
| Basic Materials | 4.4% | 68.5 | 13.2 | 1.30 | 2.14 | 1.48% | 3.1% |
| Energy | 4.3% | 18.1 | 12.1 | 1.33 | 1.64 | 1.89% | 9.1% |
| Consumer Defensive | 3.3% | 44.5 | 12.9 | 0.56 | 2.13 | 2.16% | 4.8% |
| Utilities | 3.2% | 21.2 | 14.1 | 2.06 | 1.96 | 2.82% | 9.2% |
| Communication Services | 2.9% | 233.9 | 12.1 | 1.61 | 1.87 | 0.99% | 0.8% |
| Information Technology | 0.0% | n/m | 45.0 | 20.20 | 2.74 | 0.00% | −2.7% |
| Services | 0.0% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
VB 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 VB weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VB largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NTRA | Natera, Inc. | 0.73% | — | — | 20.9 | — | −0.10% |
| TWLO | Twilio Inc | 0.54% | 33.8 | 43.7 | 6.7 | — | 0.67% |
| RVMD | Revolution Medicines, Inc. | 0.54% | — | — | 9,035.1 | — | −1.11% |
| P | Everpure, Inc. | 0.53% | 169.9 | 44.8 | 9.7 | — | 0.13% |
| ILMN | Illumina, Inc. | 0.50% | 49.0 | 40.3 | 8.8 | — | 0.42% |
| OKTA | Okta, Inc. | 0.45% | 112.8 | 54.3 | 10.7 | — | 0.16% |
| EME | EMCOR Group, Inc. | 0.44% | 22.5 | 19.8 | 1.7 | 0.22% | 0.81% |
| MRNA | Moderna, Inc. | 0.43% | — | 23.0 | 39.1 | — | −0.66% |
| CRDO | Credo Technology Group Holding Ltd | 0.40% | 60.2 | 30.9 | 20.0 | — | 0.27% |
| JBL | Jabil Inc. | 0.39% | 28.5 | 19.3 | 0.8 | 0.11% | 0.56% |
| WSM | Williams-Sonoma, Inc. | 0.34% | 25.7 | 24.6 | 3.7 | 1.22% | 0.55% |
| NVT | nVent Electric plc | 0.34% | 39.3 | 25.1 | 4.8 | 0.59% | 0.36% |
| ATI | ATI Inc. | 0.34% | 54.4 | 28.8 | 5.4 | — | 0.26% |
| ATO | Atmos Energy Corporation | 0.34% | 19.9 | 17.6 | 5.7 | 2.39% | 0.70% |
| FTI | TechnipFMC plc | 0.33% | 24.3 | 21.3 | 2.6 | 0.29% | 0.57% |
| FFIV | F5, Inc. | 0.32% | 35.2 | 24.6 | 7.6 | — | 0.37% |
| CASY | Casey's General Stores, Inc. | 0.29% | 33.2 | 29.1 | 1.4 | 0.38% | 0.37% |
| SW | Smurfit WestRock plc | 0.29% | 43.3 | 13.8 | 0.7 | 4.40% | 0.28% |
| ENTG | Entegris, Inc. | 0.29% | 69.4 | 31.6 | 6.4 | 0.29% | 0.17% |
| TPR | Tapestry, Inc. | 0.28% | 16.5 | 14.2 | 3.0 | 1.54% | 0.71% |
| UTHR | United Therapeutics Corporation | 0.28% | 19.1 | 16.4 | 7.2 | — | 0.61% |
| GH | Guardant Health, Inc. | 0.28% | — | — | 18.0 | — | −0.25% |
| THC | Tenet Healthcare Corporation | 0.26% | 10.5 | 12.5 | 1.0 | — | 1.03% |
| RS | Reliance Steel & Aluminum Co. | 0.26% | 23.9 | 16.4 | 1.3 | 1.22% | 0.45% |
| OMC | Omnicom Group Inc. | 0.25% | 212.0 | 7.4 | 1.0 | 3.97% | 0.05% |
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 VB valuation
Adding up its 1,239 holdings with company data, VB trades at 39.9 times trailing earnings and 15.3 times analysts' forward estimates, with a price-to-book ratio of 2.65 and a dividend yield of 1.35%. Its earnings yield of 2.51% is 2.82 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 4.9% of the fund and earn 1.2% of its combined profit. By sector, Communication Services is the most expensive at 233.9 times earnings and Services the cheapest at 14.2. Companies that lost money over the past year are 17.5% 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 97.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VB chart, VB performance, VB holdings, VB dividends.
VB valuation FAQ
What is the P/E ratio of VB?
Based on its holdings, VB has a trailing P/E of 39.9 and a forward P/E of 15.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VB?
The trailing earnings yield is 2.51% (1 ÷ P/E) and the forward earnings yield 6.55%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VB more expensive than the S&P 500?
VB trades at 39.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.3 and 19.9.
What is the price-to-book ratio of VB?
The holdings of VB trade at 2.65 times book value, with a combined return on equity of 6.6%.
Which sector in VB has the highest P/E?
Communication Services has the highest P/E at 233.9 and Services the lowest at 14.2.