SPDR S&P Transportation ETF (XTN) Valuation
XTN valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 57.9 trailing earnings
- Forward P/E
- 13.3 analyst estimates
- Price / sales
- 0.70
- Price / book
- 2.66
- EV / EBITDA
- 12.9
- Earnings yield
- 1.73% inverse of P/E
- Dividend yield
- 0.90% of the holdings
- Return on equity
- 4.6% combined
- Net margin
- 1.2% combined
- Beta
- 1.40 weighted, vs S&P 500
XTN valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| XTN | 57.9 | 13.3 | 0.70 | 2.66 | 0.90% | 4.6% | 1.2% | 19.2% |
| 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.
XTN valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 93.3% | 463.1 | 13.5 | 0.68 | 2.66 | 0.96% | 0.6% |
| Technology | 6.1% | 4.0 | 11.5 | 1.32 | 2.61 | 0.00% | 65.0% |
XTN 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 XTN weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
XTN largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| RXO | RXO, Inc. | 4.33% | — | — | 0.8 | — | −5.47% |
| LYFT | Lyft, Inc. | 3.34% | 2.5 | 9.3 | 0.9 | — | 77.86% |
| R | Ryder System, Inc. | 3.30% | 19.4 | 23.1 | 0.7 | 1.69% | 9.93% |
| GXO | GXO Logistics, Inc. | 3.19% | 41.8 | 13.2 | 0.4 | — | 4.45% |
| LUV | Southwest Airlines Co. | 3.13% | 24.7 | 8.3 | 0.6 | 1.82% | 7.40% |
| CSX | CSX Corporation | 3.04% | 28.3 | 21.2 | 6.2 | 1.15% | 6.26% |
| NSC | Norfolk Southern Corporation | 3.02% | 27.9 | 22.3 | 5.9 | 1.65% | 6.31% |
| UNP | Union Pacific Corporation | 3.00% | 23.4 | 19.3 | 6.8 | 1.97% | 7.45% |
| DAL | Delta Air Lines, Inc. | 2.99% | 15.0 | 9.2 | 0.7 | 1.14% | 11.57% |
| UPS | United Parcel Service, Inc. | 2.98% | 18.1 | 12.0 | 0.9 | 6.73% | 9.58% |
| XPO | XPO Logistics, Inc. | 2.95% | 54.9 | 27.0 | 2.5 | — | 3.13% |
| MATX | Matson, Inc. | 2.94% | 15.8 | 19.2 | 2.0 | 0.65% | 10.85% |
| EXPD | Expeditors International of Washington, Inc. | 2.93% | 28.5 | 24.4 | 2.1 | 0.83% | 5.98% |
| ODFL | Old Dominion Freight Line, Inc. | 2.86% | 36.1 | 27.3 | 6.9 | 0.62% | 4.62% |
| AAL | American Airlines Group Inc. | 2.86% | — | 5.3 | 0.1 | — | −6.88% |
| FDX | FedEx Corporation | 2.83% | 15.8 | 14.2 | 0.7 | 1.66% | 10.41% |
| KEX | Kirby Corporation | 2.81% | 21.0 | 15.6 | 2.1 | — | 7.81% |
| CHRW | C.H. Robinson Worldwide, Inc. | 2.79% | 26.6 | 21.5 | 1.0 | 1.81% | 6.10% |
| LSTR | Landstar System, Inc. | 2.78% | 44.5 | 22.5 | 1.2 | 1.03% | 3.64% |
| SAIA | Saia, Inc. | 2.78% | 32.3 | 41.2 | 2.6 | — | 5.00% |
| UBER | Uber Technologies, Inc. | 2.76% | 15.4 | 15.9 | 2.6 | — | 10.41% |
| ARCB | ArcBest Corporation | 2.72% | 188.4 | 13.7 | 0.7 | 0.37% | 0.84% |
| SKYW | SkyWest, Inc. | 2.69% | 9.1 | 9.5 | 0.9 | — | 17.24% |
| UAL | United Airlines Holdings, Inc. | 2.63% | 9.0 | 7.4 | 0.5 | — | 17.01% |
| KNX | Knight-Swift Transportation Holdings Inc. | 2.59% | 240.0 | 15.6 | 1.4 | 1.23% | 0.63% |
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 XTN valuation
Adding up its 42 holdings with company data, XTN trades at 57.9 times trailing earnings and 13.3 times analysts' forward estimates, with a price-to-book ratio of 2.66 and a dividend yield of 0.90%. Its earnings yield of 1.73% is 3.60 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 32.3% of the fund and earn 135.3% of its combined profit. By sector, Industrials is the most expensive at 463.1 times earnings and Technology the cheapest at 4.0. Companies that lost money over the past year are 19.2% 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 99.3% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: XTN chart, XTN performance, XTN holdings, XTN dividends.
XTN valuation FAQ
What is the P/E ratio of XTN?
Based on its holdings, XTN has a trailing P/E of 57.9 and a forward P/E of 13.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of XTN?
The trailing earnings yield is 1.73% (1 ÷ P/E) and the forward earnings yield 7.51%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is XTN more expensive than the S&P 500?
XTN trades at 57.9 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.3 and 19.9.
What is the price-to-book ratio of XTN?
The holdings of XTN trade at 2.66 times book value, with a combined return on equity of 4.6%.
Which sector in XTN has the highest P/E?
Industrials has the highest P/E at 463.1 and Technology the lowest at 4.0.