iShares U.S. Pharmaceuticals ETF (IHE) Valuation
IHE valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 50.6 trailing earnings
- Forward P/E
- 14.8 analyst estimates
- Price / sales
- 4.13
- Price / book
- 5.11
- EV / EBITDA
- 15.8
- Earnings yield
- 1.98% inverse of P/E
- Dividend yield
- 1.59% of the holdings
- Return on equity
- 10.1% combined
- Net margin
- 8.2% combined
- Beta
- 0.48 weighted, vs S&P 500
IHE valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IHE | 50.6 | 14.8 | 4.13 | 5.11 | 1.59% | 10.1% | 8.2% | 13.8% |
| 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.
IHE valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 99.5% | 50.6 | 14.8 | 4.13 | 5.11 | 1.59% | 10.1% |
IHE 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 IHE weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IHE largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| LLY | Eli Lilly and Company | 25.36% | 42.2 | 24.4 | 14.1 | 0.55% | 31.96% |
| JNJ | Johnson & Johnson | 21.68% | 38.8 | 21.0 | 6.2 | 2.10% | 29.72% |
| PFE | Pfizer Inc. | 4.92% | 38.9 | 9.7 | 2.6 | 5.81% | 6.72% |
| ZTS | Zoetis Inc. | 4.82% | 13.1 | 12.0 | 3.4 | 2.67% | 19.65% |
| VTRS | Viatris Inc. | 4.77% | — | 6.4 | 1.5 | 2.57% | −4.89% |
| RPRX | Royalty Pharma plc | 4.40% | 32.4 | 29.4 | 13.9 | 1.54% | 7.21% |
| MRK | Merck & Co., Inc. | 4.25% | 115.8 | 15.3 | 5.4 | 2.33% | 1.95% |
| BMY | Bristol-Myers Squibb Company | 4.14% | 13.2 | 9.4 | 2.5 | 4.22% | 16.73% |
| JAZZ | Jazz Pharmaceuticals plc | 2.93% | 14.4 | 10.9 | 3.0 | — | 10.80% |
| ELAN | Elanco Animal Health Incorporated | 2.42% | — | 17.4 | 2.3 | — | −2.24% |
| CORT | Corcept Therapeutics Incorporated | 2.27% | 244.8 | 19.3 | 14.3 | — | 0.49% |
| AXSM | Axsome Therapeutics, Inc. | 1.47% | — | 32.2 | 10.6 | — | −1.86% |
| LGND | Ligand Pharmaceuticals Incorporated | 1.34% | 31.1 | 24.8 | 20.3 | — | 2.29% |
| DFTX | Definium Therapeutics, Inc. | 1.08% | — | — | — | — | — |
| MANE | Veradermics, Incorporated | 0.97% | — | — | — | — | — |
| INDV | Indivior PLC | 0.86% | 11.6 | 9.5 | 2.9 | — | 3.95% |
| AMRX | Amneal Pharmaceuticals, Inc. | 0.84% | 39.1 | 6.3 | 2.1 | — | 1.15% |
| OGN | Organon & Co. | 0.78% | 17.6 | 5.1 | 0.6 | 0.58% | 2.35% |
| EWTX | Edgewise Therapeutics, Inc. | 0.72% | — | — | — | — | — |
| AMLX | Amylyx Pharmaceuticals, Inc. | 0.62% | — | 2.8 | 0.7 | — | −1.77% |
| LQDA | Liquidia Corporation | 0.61% | 24.7 | 10.5 | 6.8 | — | 1.31% |
| ELVN | Enliven Therapeutics, Inc. | 0.59% | — | — | — | — | — |
| TARS | Tarsus Pharmaceuticals, Inc. | 0.57% | — | 68.0 | 5.3 | — | −0.48% |
| SUPN | Supernus Pharmaceuticals, Inc. | 0.54% | — | 20.2 | 2.7 | — | −1.46% |
| PRGO | Perrigo Company plc | 0.50% | — | 6.0 | 0.6 | 6.98% | −19.80% |
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 IHE valuation
Adding up its 45 holdings with company data, IHE trades at 50.6 times trailing earnings and 14.8 times analysts' forward estimates, with a price-to-book ratio of 5.11 and a dividend yield of 1.59%. Its earnings yield of 1.98% is 3.35 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 79.7% of the fund and earn 117.6% of its combined profit. Companies that lost money over the past year are 13.8% 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 95.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IHE chart, IHE performance, IHE holdings, IHE dividends.
IHE valuation FAQ
What is the P/E ratio of IHE?
Based on its holdings, IHE has a trailing P/E of 50.6 and a forward P/E of 14.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IHE?
The trailing earnings yield is 1.98% (1 ÷ P/E) and the forward earnings yield 6.76%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IHE more expensive than the S&P 500?
IHE trades at 50.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.8 and 19.9.
What is the price-to-book ratio of IHE?
The holdings of IHE trade at 5.11 times book value, with a combined return on equity of 10.1%.