Vanguard Small-Cap Value ETF (VBR) Valuation
VBR valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.8 trailing earnings
- Forward P/E
- 12.4 analyst estimates
- Price / sales
- 1.10
- Price / book
- 1.96
- EV / EBITDA
- 10.5
- Earnings yield
- 3.87% inverse of P/E
- Dividend yield
- 2.05% of the holdings
- Return on equity
- 7.6% combined
- Net margin
- 4.3% combined
- Beta
- 0.97 weighted, vs S&P 500
VBR valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VBR | 25.8 | 12.4 | 1.10 | 1.96 | 2.05% | 7.6% | 4.3% | 13.8% |
| 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.
VBR valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 17.7% | 13.6 | 9.5 | 1.88 | 1.40 | 2.44% | 10.3% |
| Industrials | 15.3% | 29.1 | 14.9 | 0.98 | 2.87 | 1.21% | 9.9% |
| Consumer Cyclical | 13.4% | 22.2 | 11.9 | 0.69 | 2.35 | 1.79% | 10.6% |
| Technology | 10.5% | 30.1 | 13.0 | 1.06 | 3.12 | 0.51% | 10.4% |
| Real Estate | 10.0% | 27.3 | 21.7 | 3.33 | 1.63 | 5.41% | 6.0% |
| Healthcare | 9.3% | n/m | 12.8 | 1.27 | 2.39 | 0.32% | −1.4% |
| Basic Materials | 5.4% | 233.8 | 12.0 | 0.99 | 1.88 | 1.92% | 0.8% |
| Energy | 5.0% | 14.2 | 10.3 | 1.09 | 1.43 | 2.23% | 10.1% |
| Utilities | 5.0% | 18.0 | 14.2 | 1.95 | 1.84 | 3.21% | 10.2% |
| Consumer Defensive | 4.4% | 59.5 | 12.4 | 0.45 | 1.95 | 2.70% | 3.3% |
| Communication Services | 2.5% | 598.9 | 8.4 | 1.15 | 1.30 | 1.68% | 0.2% |
| Services | 0.0% | 14.2 | 15.3 | 1.60 | 2.99 | 2.71% | 21.0% |
VBR 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 VBR weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VBR largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| MRNA | Moderna, Inc. | 0.81% | — | 23.0 | 39.1 | — | −0.79% |
| JBL | Jabil Inc. | 0.69% | 28.5 | 19.3 | 0.8 | 0.11% | 0.64% |
| WSM | Williams-Sonoma, Inc. | 0.62% | 25.7 | 24.6 | 3.7 | 1.22% | 0.64% |
| ATO | Atmos Energy Corporation | 0.61% | 19.9 | 17.6 | 5.7 | 2.39% | 0.82% |
| FFIV | F5, Inc. | 0.60% | 35.2 | 24.6 | 7.6 | — | 0.46% |
| SW | Smurfit WestRock plc | 0.53% | 43.3 | 13.8 | 0.7 | 4.40% | 0.33% |
| TPR | Tapestry, Inc. | 0.52% | 16.5 | 14.2 | 3.0 | 1.54% | 0.84% |
| VTRS | Viatris Inc. | 0.48% | — | 6.4 | 1.5 | 2.57% | −0.25% |
| OMC | Omnicom Group Inc. | 0.48% | 212.0 | 7.4 | 1.0 | 3.97% | 0.06% |
| THC | Tenet Healthcare Corporation | 0.47% | 10.5 | 12.5 | 1.0 | — | 1.18% |
| RS | Reliance Steel & Aluminum Co. | 0.47% | 23.9 | 16.4 | 1.3 | 1.22% | 0.52% |
| USFD | US Foods Holding Corp. | 0.46% | 31.4 | 17.0 | 0.5 | — | 0.39% |
| NRG | NRG Energy, Inc. | 0.45% | 27.2 | 9.0 | 0.7 | 1.83% | 0.44% |
| NI | NiSource Inc. | 0.42% | 22.7 | 17.4 | 3.0 | 2.81% | 0.50% |
| EXE | Expand Energy Corporation | 0.42% | 8.1 | 9.6 | 1.8 | 2.46% | 1.40% |
| CF | CF Industries Holdings, Inc. | 0.41% | 9.0 | 12.2 | 2.4 | 1.99% | 1.23% |
| DD | DuPont de Nemours, Inc. | 0.41% | 35.1 | 16.5 | 2.5 | 1.84% | 0.31% |
| WCC | WESCO International, Inc. | 0.41% | 23.6 | 18.2 | 0.7 | 0.59% | 0.46% |
| SNX | TD SYNNEX Corporation | 0.40% | 15.0 | 12.7 | 0.3 | 0.78% | 0.72% |
| EWBC | East West Bancorp, Inc. | 0.40% | 12.2 | 12.7 | 6.0 | 2.52% | 0.88% |
| ZBH | Zimmer Biomet Holdings, Inc. | 0.40% | 23.1 | 10.1 | 2.1 | 1.01% | 0.46% |
| EVRG | Evergy, Inc. | 0.40% | 21.2 | 19.5 | 3.2 | 3.34% | 0.51% |
| GPC | Genuine Parts Company | 0.40% | 535.8 | 15.4 | 0.7 | 3.17% | 0.02% |
| ESS | Essex Property Trust, Inc. | 0.40% | 41.9 | 43.9 | 9.4 | 3.85% | 0.26% |
| BBY | Best Buy Co., Inc. | 0.39% | 15.4 | 13.6 | 0.5 | 4.15% | 0.68% |
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 VBR valuation
Adding up its 783 holdings with company data, VBR trades at 25.8 times trailing earnings and 12.4 times analysts' forward estimates, with a price-to-book ratio of 1.96 and a dividend yield of 2.05%. Its earnings yield of 3.87% is 1.46 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 5.8% of the fund and earn 3.9% of its combined profit. By sector, Communication Services is the most expensive at 598.9 times earnings and Financial Services the cheapest at 13.6. Companies that lost money over the past year are 13.8% 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 97.2% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VBR chart, VBR performance, VBR holdings, VBR dividends.
VBR valuation FAQ
What is the P/E ratio of VBR?
Based on its holdings, VBR has a trailing P/E of 25.8 and a forward P/E of 12.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VBR?
The trailing earnings yield is 3.87% (1 ÷ P/E) and the forward earnings yield 8.04%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VBR more expensive than the S&P 500?
VBR trades at 25.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.4 and 19.9.
What is the price-to-book ratio of VBR?
The holdings of VBR trade at 1.96 times book value, with a combined return on equity of 7.6%.
Which sector in VBR has the highest P/E?
Communication Services has the highest P/E at 598.9 and Financial Services the lowest at 13.6.