iShares U.S. Medical Devices ETF (IHI) Valuation
IHI valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 40.8 trailing earnings
- Forward P/E
- 18.8 analyst estimates
- Price / sales
- 3.67
- Price / book
- 3.49
- EV / EBITDA
- 17.7
- Earnings yield
- 2.45% inverse of P/E
- Dividend yield
- 1.06% of the holdings
- Return on equity
- 8.6% combined
- Net margin
- 9.0% combined
- Beta
- 0.88 weighted, vs S&P 500
IHI valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| IHI | 40.8 | 18.8 | 3.67 | 3.49 | 1.06% | 8.6% | 9.0% | 6.8% |
| 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.
IHI valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 99.5% | 40.8 | 18.8 | 3.67 | 3.49 | 1.06% | 8.6% |
IHI 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 IHI weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
IHI largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ABT | Abbott Laboratories | 17.13% | 33.8 | 17.1 | 3.9 | 2.40% | 20.76% |
| ISRG | Intuitive Surgical, Inc. | 15.32% | 48.9 | 33.3 | 13.7 | — | 12.84% |
| MDT | Medtronic plc | 11.39% | 23.3 | 14.9 | 3.2 | 3.04% | 20.06% |
| RMD | ResMed Inc. | 4.86% | 22.9 | 18.5 | 5.9 | 1.10% | 8.69% |
| SYK | Stryker Corporation | 4.68% | 30.5 | 16.5 | 4.4 | 1.19% | 6.29% |
| BDX | Becton, Dickinson and Company | 4.67% | 44.6 | 13.7 | 2.3 | 2.19% | 4.30% |
| BSX | Boston Scientific Corporation | 4.53% | 18.0 | 13.2 | 3.1 | — | 10.34% |
| IDXX | IDEXX Laboratories, Inc. | 4.51% | 39.8 | 31.4 | 9.7 | — | 4.65% |
| EW | Edwards Lifesciences Corporation | 4.32% | 51.5 | 25.6 | 7.7 | — | 3.43% |
| GEHC | GE HealthCare Technologies Inc. | 4.20% | 16.0 | 12.1 | 1.5 | 0.23% | 10.78% |
| DXCM | DexCom, Inc. | 4.04% | 34.1 | 28.2 | 6.5 | — | 4.86% |
| STE | STERIS plc | 2.95% | 27.2 | 19.2 | 3.6 | 1.16% | 4.44% |
| ZBH | Zimmer Biomet Holdings, Inc. | 2.40% | 23.1 | 10.1 | 2.1 | 1.01% | 4.26% |
| BAX | Baxter International Inc. | 1.72% | — | 11.6 | 1.1 | 0.16% | −5.23% |
| PEN | Penumbra, Inc. | 1.63% | 78.8 | 55.6 | 8.4 | — | 0.85% |
| PODD | Insulet Corporation | 1.38% | 26.4 | 54.9 | 3.2 | — | 2.14% |
| GKOS | Glaukos Corporation | 1.33% | — | — | 15.9 | — | −1.08% |
| GMED | Globus Medical, Inc. | 1.20% | 19.7 | 13.9 | 3.3 | — | 2.51% |
| TFX | Teleflex Incorporated | 0.77% | — | 11.0 | 2.5 | 1.04% | −2.05% |
| LIVN | LivaNova PLC | 0.56% | 23.0 | 16.0 | 2.9 | — | 1.01% |
| ITGR | Integer Holdings Corporation | 0.56% | 34.6 | 22.4 | 2.3 | — | 0.67% |
| IRTC | iRhythm Technologies, Inc. | 0.53% | — | 90.9 | 4.3 | — | −0.08% |
| NVST | Envista Holdings Corporation | 0.48% | 39.5 | 16.8 | 1.3 | — | 0.50% |
| ATRC | AtriCure, Inc. | 0.39% | 267.0 | 232.6 | 5.0 | — | 0.06% |
| TMDX | TransMedics Group, Inc. | 0.33% | 18.3 | 37.3 | 3.7 | — | 0.73% |
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 IHI valuation
Adding up its 48 holdings with company data, IHI trades at 40.8 times trailing earnings and 18.8 times analysts' forward estimates, with a price-to-book ratio of 3.49 and a dividend yield of 1.06%. Its earnings yield of 2.45% is 2.87 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 75.6% of the fund and earn 102.1% of its combined profit. Companies that lost money over the past year are 6.8% 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 100.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: IHI chart, IHI performance, IHI holdings, IHI dividends.
IHI valuation FAQ
What is the P/E ratio of IHI?
Based on its holdings, IHI has a trailing P/E of 40.8 and a forward P/E of 18.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of IHI?
The trailing earnings yield is 2.45% (1 ÷ P/E) and the forward earnings yield 5.32%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is IHI more expensive than the S&P 500?
IHI trades at 40.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.8 and 19.9.
What is the price-to-book ratio of IHI?
The holdings of IHI trade at 3.49 times book value, with a combined return on equity of 8.6%.