Grayscale Ethereum Mini Trust ETF (ETH) P/E Ratio History
Fairly ValuedTrading at 16.4x, near 5Y avg of 14.3x · 75th percentile · In line with own history · Data 2025–2026
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P/E Ratio Analysis
As of September 24, 2026, Grayscale Ethereum Mini Trust ETF (ETH) trades at a price-to-earnings ratio of 16.4x, with a stock price of $25.57 and trailing twelve-month earnings per share of $1.56.
The current P/E is 15% above its 5-year average of 14.3x. Over the past five years, ETH's P/E has ranged from a low of 9.6x to a high of 23.2x, placing the current valuation at the 75th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.9x, ETH trades at a 18% premium to its sector peers. The sector includes 804 companies with P/E ratios ranging from 0.0x to 157.5x.
Relative to the broader market, ETH trades at a notable discount to the S&P 500 median P/E of 25.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ETH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ETH Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
ETH P/E vs Peers
Crypto Investment and Yield Vehicles peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $52B | 44.5 | 0.89Best | -53% | |
| $4B | 12.9Lowest | - | +262%Best |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
ETH Historical P/E Data (2025–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q4 | - | $15.03 | $1.56 | 9.6x | -33% |
| FY2026 Q3 | - | $19.86 | $1.42 | 14.0x | -2% |
| FY2026 Q2 | Dec 31 2025 | $28.06 | $1.56 | 18.0x | +26% |
| FY2026 Q1 | - | $39.18 | $1.69 | 23.2x | +62% |
| FY2025 Q4 | Jun 30 2025 | $23.72 | $1.85 | 12.8x | -10% |
| FY2025 Q3 | Mar 31 2025 | $17.22 | $1.77 | 9.7x | -32% |
| FY2025 Q2 | - | $31.49 | $2.08 | 15.1x | +6% |
| FY2025 Q1 | Sep 30 2024 | $24.40 | $2.07 | 11.8x | -17% |
Average P/E for displayed period: 14.3x
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Historical Returns
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Peer Comparison
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ETH — Frequently Asked Questions
Quick answers to the most common questions about buying ETH stock.
What is ETH's P/E ratio?
Grayscale Ethereum Mini Trust ETF (ETH) trailing twelve-month P/E ratio is 16.4x, based on TTM diluted EPS of $1.56. The 5-year average P/E is 14.3x and the historical range spans 9.6x to 23.2x.
Is ETH stock overvalued or undervalued?
ETH trades at 16.4x P/E, near its 5-year average of 14.3x. The 75th percentile ranking within the 9.6x–23.2x historical range places valuation within normal bounds.
Is ETH stock expensive?
ETH is fairly valued relative to its own history. The current P/E of 16.4x is near the 5-year average of 14.3x (75th percentile of historical range).
What is ETH's historical P/E range?
Over the past 5 years, ETH's P/E ratio has ranged from 9.6x to 23.2x, with a median of 14.0x and an average of 14.3x. The current P/E of 16.4x places the stock at the 75th percentile of this range. Full historical data spans 2025–2026.
How does ETH's P/E compare to the S&P 500?
ETH trades at 16.4x P/E versus the S&P 500 median of 25.3x. The 35% discount to the market suggests lower growth expectations or perceived higher risk.
How does ETH's valuation compare to Financial Services peers?
Grayscale Ethereum Mini Trust ETF P/E of 16.4x compares to the Financial Services sector median of 13.9x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is ETH's PEG ratio?
ETH PEG ratio is N/A, based on a P/E of 16.4x and EPS growth of -22.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is ETH's earnings yield?
ETH earnings yield is 6.10%, the inverse of its 16.4x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.