Nasdaq 100 Valuation Dashboard
Is the Nasdaq 100 expensive? Live P/E ratios, earnings yield, sector breakdown, and the cheapest & most expensive stocks across every major US index.
Nasdaq 100 is trading at a statistically elevated 38.0x earnings.
This premium valuation mathematically requires analysts to hit their 69% projected earnings growth targets in order to revert toward historical averages.
Updated Oct 23, 2026Nasdaq 100 is above historical norms
At 38.0x trailing P/E, the index exceeds both the long-term average (25x) and the 10-year average (~28x). Forward P/E may tell a different story if earnings growth is strong.
Are Earnings Growing Into the Valuation?
Valuations can fall in two ways: stock prices drop, or corporate earnings grow. If index earnings grow as projected, this expensive trailing P/E of 38.0x naturally shrinks to a more reasonable forward P/E of 22.5x without requiring a market correction.
Stocks vs Bonds — Is It Worth the Risk?
Stocks are riskier than bonds, so they should offer a higher yield to compensate investors. With the Nasdaq 100 earnings yield at 2.6% compared to a safe 10Y Treasury bond yield of 4.3%, safe bonds currently offer better risk-free yield than stocks.
Secondary cash return (dividends + buybacks): 1.49%
How Do Indices Compare?
| Index | P/E | Fwd P/E | P/B | EV/EBITDA | Earn. Yield | Div. Yield | Median P/E | Mkt Cap | Stocks |
|---|---|---|---|---|---|---|---|---|---|
| S&P 500 | 30.9 | 21.0 | 5.75 | 20.3 | 3.2% | 0.99% | 27.0 | $72.6T | 502 |
| Nasdaq 100 | 38.0 | 22.5 | 10.40 | 26.4 | 2.6% | 0.43% | 34.3 | $41.4T | 100 |
| Dow 30 | 32.6 | 24.1 | 9.33 | 23.3 | 3.1% | 0.76% | 29.1 | $25.3T | 30 |
| Russell 1000 | 33.2 | 14.1 | 6.04 | 22.4 | 3.0% | 0.71% | 25.1 | $59.1T | 991 |
| Russell 2000 | 24.1 | 20.0 | 2.24 | 13.3 | 4.2% | 1.54% | 17.6 | $3.7T | 1937 |
Which Sectors Are Cheap vs Expensive?
| Sector | P/E | Fwd P/E | EV/EBITDA | Div Yield | Weight | Stocks |
|---|---|---|---|---|---|---|
| Technology | 47.0 | 28.2 | 34.8 | 0.37% | 56.0% | 44 |
| Communication Services | 27.3 | 16.2 | 19.7 | 0.34% | 24.2% | 9 |
| Consumer Cyclical | 42.9 | 18.4 | 25.5 | 0.10% | 11.9% | 11 |
| Healthcare | 25.6 | 26.1 | 16.5 | 1.33% | 2.6% | 10 |
| Consumer Defensive | 37.6 | 26.3 | 22.2 | 1.76% | 2.2% | 7 |
| Industrials | 29.8 | 27.6 | 19.4 | 1.89% | 1.4% | 10 |
| Utilities | 22.8 | 19.2 | 14.4 | 2.21% | 0.6% | 4 |
| Basic Materials | 34.9 | 28.5 | 20.3 | 1.18% | 0.6% | 1 |
| Energy | 27.0 | 12.5 | 8.9 | 1.79% | 0.3% | 2 |
| Financial Services | 10.5 | 10.6 | 7.4 | 0.24% | 0.1% | 1 |
| Real Estate | — | 24.8 | 77.4 | 0.00% | 0.0% | 1 |
Cheapest & Most Expensive in Nasdaq 100
10 Most Discounted (Lowest P/E)
| # | Ticker | Company | Sector | P/E | Fwd P/E |
|---|---|---|---|---|---|
| 1 | CHTR | Charter Communications, Inc. | Communication Services | 3.0 | 2.7 |
| 2 | CMCSA | Comcast Corporation | Communication Services | 4.2 | 6.5 |
| 3 | LULU | Lululemon Athletica Inc. | Consumer Cyclical | 7.5 | 7.6 |
| 4 | PDD | PDD Holdings Inc. | Consumer Cyclical | 8.1 | 1.2 |
| 5 | PYPL | PayPal Holdings, Inc. | Financial Services | 10.5 | 10.6 |
| 6 | AZN | AstraZeneca PLC | Healthcare | 13.1 | 16.7 |
| 7 | TTD | The Trade Desk, Inc. | Technology | 14.3 | 33.3 |
| 8 | HON | Honeywell International Inc. | Industrials | 15.0 | 26.4 |
| 9 | TMUS | T-Mobile US, Inc. | Communication Services | 15.1 | 13.4 |
| 10 | CTSH | Cognizant Technology Solutions Corporation | Technology | 15.5 | 12.2 |
10 Most Elevated (Highest P/E)
| # | Ticker | Company | Sector | P/E | Fwd P/E |
|---|---|---|---|---|---|
| 1 | WBD | Warner Bros. Discovery, Inc. | Communication Services | 106.7 | — |
| 2 | MU | Micron Technology, Inc. | Technology | 115.6 | 11.9 |
| 3 | SHOP | Shopify Inc. | Technology | 179.4 | 88.1 |
| 4 | AMD | Advanced Micro Devices, Inc. | Technology | 195.0 | 67.6 |
| 5 | PANW | Palo Alto Networks, Inc. | Technology | 237.8 | 90.9 |
| 6 | ON | ON Semiconductor Corporation | Technology | 249.1 | 22.6 |
| 7 | AXON | Axon Enterprise, Inc. | Industrials | 278.4 | 54.7 |
| 8 | MCHP | Microchip Technology Incorporated | Technology | 284.8 | 47.2 |
| 9 | PLTR | Palantir Technologies Inc. | Technology | 312.3 | 123.1 |
| 10 | TSLA | Tesla, Inc. | Consumer Cyclical | 344.6 | 222.2 |
Data as of 2026-10-23 · Updated daily after market close · Source: computed from individual company financials
Frequently Asked Questions
Analyze Top S&P 500 Stocks
Deep dive into valuation, financials, and analyst DCF models for these market heavyweights: