Vanguard S&P 500 Growth ETF (VOOG) Valuation

NYSE Arca: VOOGP/E, earnings yield and other ratios of the holdings combined.

VOOG valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 27.2
Forward P/E: 22.4
Price / sales: 7.83
Price / book: 8.89
EV / EBITDA: 20.2
Earnings yield: 3.68%
Dividend yield: 0.55%
Return on equity: 32.7%
Net margin: 28.8%
Beta: 1.39

VOOG valuation vs other stock ETFs

P/E (TTM)Forward P/E

VOOG valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
VOOG	27.2	22.4	7.83	8.89	0.55%	32.7%	28.8%	0.6%
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.

VOOG valuation by sector

P/E (TTM)Forward P/E

VOOG valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	54.6%	31.6	22.6	12.03	15.20	0.47%	48.2%
Communication Services	15.6%	19.7	21.8	8.37	7.02	0.26%	35.7%
Financial Services	8.4%	17.0	18.4	4.30	2.73	0.94%	16.0%
Consumer Cyclical	7.7%	27.5	25.9	4.20	7.85	0.34%	28.5%
Healthcare	6.0%	40.6	21.1	7.25	13.18	1.12%	32.5%
Industrials	5.0%	35.1	27.5	3.85	9.74	0.69%	27.8%
Consumer Defensive	1.0%	30.5	24.0	8.02	18.26	2.27%	59.9%
Real Estate	0.6%	61.3	68.3	11.80	3.85	1.90%	6.3%
Basic Materials	0.3%	15.0	11.6	4.85	3.80	0.88%	25.4%
Utilities	0.3%	26.3	15.0	1.98	4.78	0.78%	18.2%

VOOG earnings yield vs bond yields

VOOG earnings yield (forward)

4.47%

VOOG earnings yield (trailing)

3.68%

VOOG dividend yield

0.55%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 VOOG weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

VOOG largest holdings: valuation

VOOG largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
NVDA	NVIDIA Corporation	15.08%	27.1	24.9	17.1	0.47%	15.21%
MSFT	Microsoft Corporation	10.62%	29.5	25.1	11.8	0.74%	9.83%
AAPL	Apple Inc.	6.65%	39.4	35.2	10.7	0.31%	4.61%
GOOGL	Alphabet Inc.	5.29%	17.1	22.8	9.3	0.26%	8.44%
GOOG	Alphabet Inc.	4.60%	16.9	21.8	9.2	0.26%	7.43%
META	Meta Platforms, Inc.	4.54%	26.7	22.1	7.9	0.30%	4.64%
AVGO	Broadcom Inc.	4.49%	43.3	19.4	17.6	0.79%	2.83%
AMZN	Amazon.com, Inc.	3.39%	20.1	23.6	3.5	—	4.60%
MU	Micron Technology, Inc.	3.17%	11.8	7.0	7.5	0.07%	7.32%
AMD	Advanced Micro Devices, Inc.	2.61%	134.9	39.5	20.9	—	0.53%
BRK.B	Berkshire Hathaway Inc.	2.44%	13.4	22.7	3.0	—	4.97%
LLY	Eli Lilly and Company	2.39%	42.2	24.4	14.1	0.55%	1.55%
TSLA	Tesla, Inc.	1.73%	328.4	158.7	13.5	—	0.14%
JPM	JPMorgan Chase & Co.	1.68%	14.2	13.5	4.7	1.94%	3.21%
LRCX	Lam Research Corporation	1.17%	45.8	33.7	14.2	0.50%	0.69%
AMAT	Applied Materials, Inc.	1.13%	35.3	23.4	10.5	0.52%	0.88%
PLTR	Palantir Technologies Inc.	1.13%	160.4	85.5	72.6	—	0.19%
JNJ	Johnson & Johnson	1.03%	38.8	21.0	6.2	2.10%	0.72%
CAT	Caterpillar Inc.	1.02%	31.5	25.4	4.5	0.89%	0.88%
V	Visa Inc.	0.94%	34.3	24.0	17.0	0.67%	0.75%
MA	Mastercard Incorporated	0.82%	34.0	24.2	15.4	0.56%	0.66%
NFLX	Netflix, Inc.	0.78%	22.2	18.7	6.1	—	0.96%
SNDK	Sandisk Corporation	0.72%	17.6	8.0	9.3	—	1.11%
CRWD	CrowdStrike Holdings, Inc.	0.71%	—	208.3	43.1	—	0.01%
GEV	GE Vernova Inc.	0.67%	26.4	38.8	5.9	0.22%	0.69%

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 VOOG valuation

Adding up its 150 holdings with company data, VOOG trades at 27.2 times trailing earnings and 22.4 times analysts' forward estimates, with a price-to-book ratio of 8.89 and a dividend yield of 0.55%. Its earnings yield of 3.68% is 1.65 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 60.4% of the fund and earn 65.4% of its combined profit. By sector, Real Estate is the most expensive at 61.3 times earnings and Basic Materials the cheapest at 15.0. Companies that lost money over the past year are 0.6% 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 99.5% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

VOOG valuation FAQ

What is the P/E ratio of VOOG?

Based on its holdings, VOOG has a trailing P/E of 27.2 and a forward P/E of 22.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of VOOG?

The trailing earnings yield is 3.68% (1 ÷ P/E) and the forward earnings yield 4.47%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is VOOG more expensive than the S&P 500?

VOOG trades at 27.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 22.4 and 19.9.

What is the price-to-book ratio of VOOG?

The holdings of VOOG trade at 8.89 times book value, with a combined return on equity of 32.7%.

Which sector in VOOG has the highest P/E?

Real Estate has the highest P/E at 61.3 and Basic Materials the lowest at 15.0.