Consumer Staples Select Sector SPDR Fund (XLP) Valuation
XLP valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 28.6 trailing earnings
- Forward P/E
- 19.1 analyst estimates
- Price / sales
- 1.39
- Price / book
- 5.22
- EV / EBITDA
- 15.6
- Earnings yield
- 3.49% inverse of P/E
- Dividend yield
- 2.50% of the holdings
- Return on equity
- 18.2% combined
- Net margin
- 4.8% combined
- Beta
- 0.50 weighted, vs S&P 500
XLP valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XLP | 28.6 | 19.1 | 1.39 | 5.22 | 2.50% | 18.2% | 4.8% | 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.
XLP valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Consumer Defensive | 96.9% | 28.3 | 19.0 | 1.38 | 5.22 | 2.57% | 18.5% |
| Consumer Cyclical | 1.6% | 33.2 | 29.1 | 1.36 | 5.39 | 0.38% | 16.2% |
| Financial Services | 1.5% | 103.1 | — | 2.70 | — | 0.00% | — |
XLP 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 XLP weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XLP largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| WMT | Walmart Inc. | 11.08% | 43.0 | 38.0 | 1.3 | 0.83% | 7.38% |
| COST | Costco Wholesale Corporation | 9.31% | 47.6 | 40.3 | 1.4 | 0.59% | 5.60% |
| PG | The Procter & Gamble Company | 7.45% | 24.1 | 21.2 | 4.3 | 2.73% | 8.87% |
| KO | The Coca-Cola Company | 7.35% | 28.2 | 25.3 | 8.1 | 2.26% | 7.48% |
| PM | Philip Morris International Inc. | 6.43% | 29.5 | 20.9 | 7.5 | 3.12% | 6.25% |
| CL | Colgate-Palmolive Company | 4.38% | 37.1 | 21.0 | 3.6 | 2.25% | 3.39% |
| MO | Altria Group, Inc. | 4.37% | 15.8 | 11.9 | 6.1 | 5.91% | 7.92% |
| MDLZ | Mondelez International, Inc. | 4.34% | 23.5 | 18.2 | 2.1 | 3.25% | 5.29% |
| PEP | PepsiCo, Inc. | 4.14% | 16.5 | 14.9 | 1.8 | 4.50% | 7.18% |
| TGT | Target Corporation | 4.13% | 16.0 | 15.6 | 0.7 | 3.01% | 7.39% |
| MNST | Monster Beverage Corporation | 3.78% | 42.3 | 33.7 | 9.7 | — | 2.56% |
| KDP | Keurig Dr Pepper Inc. | 2.85% | 35.0 | 12.5 | 2.3 | 2.66% | 2.34% |
| SYY | Sysco Corporation | 2.31% | 21.9 | 15.2 | 0.5 | 2.68% | 3.02% |
| ADM | Archer-Daniels-Midland Company | 2.29% | 22.6 | 15.6 | 0.5 | 2.52% | 2.90% |
| KVUE | Kenvue Inc. | 2.24% | 22.0 | 14.7 | 2.4 | 4.44% | 2.92% |
| KMB | Kimberly-Clark Corporation | 2.23% | 20.8 | 13.1 | 2.1 | 4.85% | 3.06% |
| KR | The Kroger Co. | 2.20% | 35.4 | 11.3 | 0.3 | 2.45% | 1.79% |
| DG | Dollar General Corporation | 1.82% | 17.4 | 15.3 | 0.7 | 1.76% | 2.99% |
| CASY | Casey's General Stores, Inc. | 1.58% | 33.2 | 29.1 | 1.4 | 0.38% | 1.36% |
| HSY | The Hershey Company | 1.56% | 23.3 | 17.8 | 2.8 | 3.40% | 1.91% |
| EL | The Estée Lauder Companies Inc. | 1.51% | 209.1 | 29.8 | 2.5 | 1.34% | 0.21% |
| VYLR | Vylor Inc. | 1.46% | 103.1 | — | 2.7 | — | 0.40% |
| DLTR | Dollar Tree, Inc. | 1.44% | 15.1 | 16.9 | 1.2 | — | 2.74% |
| CHD | Church & Dwight Co., Inc. | 1.44% | 33.5 | 23.4 | 4.0 | 1.18% | 1.24% |
| KHC | The Kraft Heinz Company | 1.24% | — | 11.1 | 1.1 | 6.76% | −4.30% |
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 XLP valuation
Adding up its 34 holdings with company data, XLP trades at 28.6 times trailing earnings and 19.1 times analysts' forward estimates, with a price-to-book ratio of 5.22 and a dividend yield of 2.50%. Its earnings yield of 3.49% is 1.84 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 63.0% of the fund and earn 66.7% of its combined profit. By sector, Financial Services is the most expensive at 103.1 times earnings and Consumer Defensive the cheapest at 28.3. 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XLP chart, XLP performance, XLP holdings, XLP dividends.
XLP valuation FAQ
What is the P/E ratio of XLP?
Based on its holdings, XLP has a trailing P/E of 28.6 and a forward P/E of 19.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XLP?
The trailing earnings yield is 3.49% (1 ÷ P/E) and the forward earnings yield 5.24%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XLP more expensive than the S&P 500?
XLP trades at 28.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.1 and 19.9.
What is the price-to-book ratio of XLP?
The holdings of XLP trade at 5.22 times book value, with a combined return on equity of 18.2%.
Which sector in XLP has the highest P/E?
Financial Services has the highest P/E at 103.1 and Consumer Defensive the lowest at 28.3.