What is the P/E ratio of the Dow Jones Industrial Average?

About 23.9 on trailing 12-month earnings and about 18.6 forward.

Is the Dow's P/E high right now?

Compare with the S&P 500's P/E and its 150-year history for context.

How is the index P/E calculated?

Weighted harmonic mean of member trailing P/Es — equivalent to total market cap ÷ total earnings — using SEC-filed TTM earnings and N-PORT index weights.

Dow Jones P/E ratio: 23.9 · forward 18.6

The Dow Jones Industrial Average trades at 23.9× trailing 12-month earnings and 18.6× forward estimates (as of market close, Jul 22, 2026) — a weighted harmonic mean across the index's members, computed from earnings as filed with the SEC. The median member trades at 28.4×.

Trailing P/E: 23.9
Forward P/E: 18.6
Median member: 28.4
Price/Book: 5.5

Where members trade: P/E distribution

One number hides the spread. Each bar is the share of index weight in that trailing-P/E range (member count on the right).

P/EShare of index weight% · membersExample stocks

<10

0.0% · 0

10–15

6.0% · 3VZ DIS TRV

15–20

21.4% · 4JPM GS IBM CRM

20–25

17.5% · 5MSFT PG HD AXP

25–30

11.7% · 5AMZN JNJ KO AMGN

30–40

30.5% · 11NVDA AAPL WMT V

40–60

10.5% · 1CAT

60+

2.5% · 1BA

"n/a" = loss-making members or no earnings data. Tickers are each range's largest members (hover for the exact P/E). 100.0% of tracked index weight has a valid trailing P/E.

FAQ

What is the P/E ratio of the Dow Jones Industrial Average?: The Dow Jones Industrial Average's price-to-earnings ratio is currently about 23.9 on trailing 12-month earnings (weighted harmonic mean across all index members, from SEC-filed earnings), and about 18.6 on forward earnings estimates.
Is the Dow's P/E high right now?: Compare it with the median member (28.4×) and with the S&P 500's multiple and long-run history on our S&P 500 P/E page. The Dow's multiple usually sits close to the broad market's.
How is the index P/E calculated?: We compute the weighted harmonic mean of members' trailing P/E ratios — total weight ÷ Σ(weight ÷ P/E), the standard factsheet method, which is equivalent to total market cap ÷ total earnings and keeps a few extreme multiples from distorting the average. Member earnings come from our SEC EDGAR pipeline (TTM as filed), weights from the tracking fund's N-PORT filing rolled forward daily.

Notes & related

Current values are computed bottom-up: index weights from the tracking fund's SEC N-PORT filing (rolled forward daily by price), member earnings from our SEC EDGAR pipeline (TTM, as filed; Twelve Data fallback where a filing hasn't landed yet), refreshed with each market close. Forward P/E uses analyst consensus estimates via Twelve Data. For long-run valuation context, see the S&P 500 P/E ratio (150 years of history); for who's in the index at what weight, the full constituents list; for the cheapest large caps, value stocks. Not investment advice.

ChartRow is not affiliated with, sponsored by, or endorsed by S&P Dow Jones Indices LLC, S&P Global, or Nasdaq, Inc. "S&P 500®" and "Dow Jones®" are registered trademarks of S&P Dow Jones Indices LLC; "Nasdaq-100®" is a registered trademark of Nasdaq, Inc. They are used here only to identify the indexes discussed. All index-related figures on this page are independently derived from public sources — SEC filings, Robert Shiller's public dataset, and our own computations — not from any index provider's data feed.