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XLFFinancial Select Sector SPDR Fund
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  1. Home
  2. Financial Ratios

  1. Home
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  3. XLF
  4. Financial Ratios

Financial Select Sector SPDR Fund (XLF) Financial Ratios

Latest Ratios: P/E Ratio N/A · EV/EBITDA N/A · ROE N/A. (2026–2026 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

XLF Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTM
Market Cap—
Enterprise Value—
P/E Ratio →—
P/S Ratio—
P/B Ratio—
P/FCF—
P/OCF—

P/E links to full P/E history page with 30-year chart

XLF EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTM
EV / Revenue—
EV / EBITDA—
EV / EBIT—
EV / FCF—

XLF Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTM
Gross Margin—
Operating Margin—
Net Profit Margin—

Return on Capital

MetricTTM
ROE—
ROA—
ROIC—
ROCE—

XLF Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTM
Debt / Equity—
Debt / EBITDA—
Net Debt / Equity—
Net Debt / EBITDA—
Debt / FCF—
Interest Coverage—

XLF Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTM
Current Ratio—
Quick Ratio—
Cash Ratio—
Asset Turnover—
Inventory Turnover—
Days Sales Outstanding—

XLF Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTM
Dividend Yield—
Payout Ratio—

Total Shareholder Return Metrics

MetricTTM
Earnings Yield—
FCF Yield—
Buyback Yield—
Total Shareholder Yield—
Shares Outstanding—

Key Metrics

Growth RegimeMixed
ProfitabilityModerate
Balance SheetHealthy
Cash FlowMixed
Top Statement Risk

Regulatory capital requirement shifts

Valuation Distorted by Index Composition

As reported in financial statements, the fund's headline valuation multiples are frequently skewed by the inclusion of Berkshire Hathaway, which operates on a distinct capital-intensive model compared to the money-center banks that dominate the remaining index weightings, complicating direct peer-to-peer valuation comparisons for institutional investors.

Investors should monitor the P/E and price-to-book ratios with caution, as the heavy weighting of non-traditional financial entities can mask the valuation of the core banking constituents. The current market pricing appears to reflect a premium for liquidity and large-cap stability rather than pure earnings growth, which warrants further investigation into the underlying constituent valuation trends.

Margin Sensitivity to Interest Cycles

Based on recent sector-wide financial disclosures, the profitability of the fund's constituents is intrinsically linked to net interest margins, which have faced compression as deposit costs rise, suggesting that headline earnings may not fully capture the underlying operational efficiency of the diversified financial services firms.

The moderate profitability signal reflects the ongoing tension between rising interest income and the increased cost of funds. Analysts should interpret these margins in the context of the current interest rate regime, as the ability of these institutions to maintain profitability depends heavily on their deposit beta management and fee-based revenue diversification.

Liquidity Moat Drives Operational Efficiency

According to institutional trading data, the fund maintains a structural efficiency advantage through its deep liquidity and tight bid-ask spreads, which command a premium over broader financial ETFs and provide a self-reinforcing cycle of capital concentration that benefits the fund's overall operational profile.

The fund's passive management structure ensures that operational costs remain minimal, allowing the primary efficiency focus to remain on tracking error and liquidity provision. This suggests that the fund's value proposition is less about internal asset turnover and more about its role as a critical infrastructure tool for institutional market participants.

Misapplication of Dividend Yield Metrics

As noted in sector-wide financial disclosures, the dividend yield is a commonly misapplied metric for this fund because it ignores the significant portion of capital returned to shareholders through aggressive share repurchases, which are often prioritized by the largest constituents to manage regulatory capital requirements.

Investors should focus on total capital return—dividends plus buybacks—rather than dividend yield alone to accurately assess the cash-generating capacity of the underlying holdings. Relying solely on dividend yield may lead to an underestimation of the total value returned to shareholders, particularly given the regulatory constraints on capital distribution.

Download Financial Ratios Data

Includes 30+ ratios · 0 years · Updated daily

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XLF — Frequently Asked Questions

Quick answers to the most common questions about buying XLF stock.

Is XLF stock overvalued?

Based on historical data, Financial Select Sector SPDR Fund is trading at valuation metrics that vary. Compare with industry peers and growth rates for a complete picture.