Vanguard Industrials ETF (VIS) Valuation
VIS valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 31.2 trailing earnings
- Forward P/E
- 20.8 analyst estimates
- Price / sales
- 2.31
- Price / book
- 5.45
- EV / EBITDA
- 17.7
- Earnings yield
- 3.21% inverse of P/E
- Dividend yield
- 1.08% of the holdings
- Return on equity
- 17.5% combined
- Net margin
- 7.4% combined
- Beta
- 1.11 weighted, vs S&P 500
VIS valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VIS | 31.2 | 20.8 | 2.31 | 5.45 | 1.08% | 17.5% | 7.4% | 3.1% |
| 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.
VIS valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 84.9% | 32.2 | 21.4 | 2.33 | 5.66 | 1.07% | 17.5% |
| Technology | 6.3% | 21.7 | 15.9 | 2.46 | 4.58 | 1.23% | 21.1% |
| Consumer Cyclical | 0.8% | 39.2 | 15.6 | 1.51 | 3.88 | 1.21% | 9.9% |
| Basic Materials | 0.5% | 25.9 | 12.2 | 1.43 | 1.54 | 1.48% | 5.9% |
| Financial Services | 0.2% | 19.5 | 12.8 | 2.90 | 2.81 | 0.67% | 14.4% |
| Utilities | 0.0% | n/m | 24.6 | 0.63 | 3.28 | 0.00% | −17.1% |
| Communication Services | 0.0% | 10.9 | 5.5 | 1.34 | 1.67 | 0.00% | 15.3% |
| Healthcare | 0.0% | 12.4 | 17.4 | 0.78 | 2.81 | 0.00% | 22.8% |
| Consumer Defensive | 0.0% | 119.7 | 18.9 | 0.77 | 4.52 | 0.00% | 3.8% |
VIS 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 VIS weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VIS largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| CAT | Caterpillar Inc. | 5.35% | 31.5 | 25.4 | 4.5 | 0.89% | 5.75% |
| GCP | General Electric Company | 4.97% | — | — | — | — | — |
| GEV | GE Vernova Inc. | 3.88% | 26.4 | 38.8 | 5.9 | 0.22% | 4.97% |
| RTX | RTX Corporation | 3.86% | 34.1 | 24.6 | 2.8 | 1.51% | 3.82% |
| ETN | Eaton Corporation plc | 2.50% | 39.8 | 27.6 | 5.1 | 1.12% | 2.12% |
| DE | Deere & Company | 2.33% | 35.7 | 29.3 | 3.6 | 1.01% | 2.21% |
| UNP | Union Pacific Corporation | 2.14% | 23.4 | 19.3 | 6.8 | 1.97% | 3.09% |
| BA | The Boeing Company | 2.13% | 67.9 | 49.5 | 1.6 | — | 1.06% |
| UBER | Uber Technologies, Inc. | 1.86% | 15.4 | 15.9 | 2.6 | — | 4.08% |
| PH | Parker-Hannifin Corporation | 1.78% | 33.8 | 27.5 | 5.7 | 0.83% | 1.78% |
| LMT | Lockheed Martin Corporation | 1.58% | 20.3 | 16.2 | 1.7 | 2.61% | 2.63% |
| TT | Trane Technologies plc | 1.53% | 34.2 | 25.2 | 4.5 | 0.92% | 1.51% |
| ADP | Automatic Data Processing, Inc. | 1.51% | 26.4 | 22.0 | 5.2 | 2.35% | 1.93% |
| HWM | Howmet Aerospace Inc. | 1.39% | 47.6 | 36.0 | 9.7 | 0.25% | 0.99% |
| PWR | Quanta Services, Inc. | 1.38% | 72.4 | 33.0 | 2.9 | 0.07% | 0.64% |
| EMR | Emerson Electric Co. | 1.34% | 35.3 | 21.5 | 4.9 | 1.37% | 1.28% |
| JCI | Johnson Controls International plc | 1.32% | 41.1 | 23.9 | 3.5 | 1.10% | 1.08% |
| CSX | CSX Corporation | 1.30% | 28.3 | 21.2 | 6.2 | 1.15% | 1.55% |
| VRT | Vertiv Holdings Co | 1.27% | 46.7 | 27.8 | 6.9 | 0.12% | 0.92% |
| WM | Waste Management, Inc. | 1.23% | 32.1 | 22.5 | 3.5 | 1.67% | 1.29% |
| MMM | 3M Company | 1.23% | 29.3 | 17.8 | 3.4 | 1.89% | 1.42% |
| GD | General Dynamics Corporation | 1.18% | 21.0 | 18.5 | 1.7 | 1.85% | 1.90% |
| BE | Bloom Energy Corporation | 1.13% | 291.2 | 57.1 | 20.9 | — | 0.13% |
| CMI | Cummins Inc. | 1.07% | 27.2 | 15.4 | 2.1 | 1.66% | 1.33% |
| HON | Honeywell International Inc. | 1.03% | 7.8 | 22.2 | 1.8 | 1.32% | 4.48% |
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 VIS valuation
Adding up its 373 holdings with company data, VIS trades at 31.2 times trailing earnings and 20.8 times analysts' forward estimates, with a price-to-book ratio of 5.45 and a dividend yield of 1.08%. Its earnings yield of 3.21% is 2.12 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 30.8% of the fund and earn 31.5% of its combined profit. By sector, Consumer Defensive is the most expensive at 119.7 times earnings and Communication Services the cheapest at 10.9. Companies that lost money over the past year are 3.1% 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 93.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VIS chart, VIS performance, VIS holdings, VIS dividends.
VIS valuation FAQ
What is the P/E ratio of VIS?
Based on its holdings, VIS has a trailing P/E of 31.2 and a forward P/E of 20.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VIS?
The trailing earnings yield is 3.21% (1 ÷ P/E) and the forward earnings yield 4.82%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VIS more expensive than the S&P 500?
VIS trades at 31.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 20.8 and 19.9.
What is the price-to-book ratio of VIS?
The holdings of VIS trade at 5.45 times book value, with a combined return on equity of 17.5%.
Which sector in VIS has the highest P/E?
Consumer Defensive has the highest P/E at 119.7 and Communication Services the lowest at 10.9.