iShares Morningstar Mid-Cap ETF (IMCB) Valuation

NYSE: IMCBP/E, earnings yield and other ratios of the holdings combined.

IMCB valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 27.6
Forward P/E: 16.1
Price / sales: 1.86
Price / book: 3.38
EV / EBITDA: 14.1
Earnings yield: 3.62%
Dividend yield: 1.55%
Return on equity: 12.3%
Net margin: 6.7%
Beta: 1.03

IMCB valuation vs other stock ETFs

P/E (TTM)Forward P/E

IMCB valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
IMCB	27.6	16.1	1.86	3.38	1.55%	12.3%	6.7%	7.8%
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.

IMCB valuation by sector

P/E (TTM)Forward P/E

IMCB valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	17.4%	96.2	20.0	3.34	5.22	0.66%	5.4%
Industrials	17.2%	29.1	19.6	2.57	5.48	1.23%	18.8%
Financial Services	14.8%	14.8	12.6	2.40	2.15	1.92%	14.6%
Healthcare	10.4%	41.5	17.4	0.93	3.73	0.64%	9.0%
Consumer Cyclical	9.5%	33.3	15.4	1.40	4.20	1.31%	12.6%
Energy	8.2%	17.9	11.4	1.67	2.82	1.97%	15.8%
Utilities	6.0%	19.6	14.7	2.50	1.96	3.06%	10.0%
Consumer Defensive	5.4%	29.9	16.0	0.89	3.45	2.61%	11.5%
Basic Materials	5.1%	29.2	16.1	2.16	3.18	1.52%	10.9%
Real Estate	4.1%	25.9	25.5	4.93	2.74	4.18%	10.5%
Communication Services	1.6%	66.0	14.8	1.82	3.64	0.58%	5.5%

IMCB earnings yield vs bond yields

IMCB earnings yield (forward)

6.21%

IMCB earnings yield (trailing)

3.62%

IMCB dividend yield

1.55%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

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 IMCB weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

IMCB largest holdings: valuation

IMCB largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
DELL	Dell Technologies Inc.	0.90%	26.3	21.3	1.9	0.56%	0.95%
MPC	Marathon Petroleum Corporation	0.85%	16.6	5.5	0.9	0.84%	1.42%
VLO	Valero Energy Corporation	0.84%	18.5	10.2	1.0	1.08%	1.25%
ADP	Automatic Data Processing, Inc.	0.84%	26.4	22.0	5.2	2.35%	0.88%
PSX	Phillips 66	0.74%	16.8	9.7	0.8	1.81%	1.23%
SNOW	Snowflake Inc.	0.73%	—	169.5	19.9	—	−0.21%
FTNT	Fortinet, Inc.	0.73%	59.8	45.0	16.5	—	0.34%
NET	Cloudflare, Inc.	0.69%	—	178.6	42.0	—	−0.03%
BNY	The Bank of New York Mellon Corporation	0.67%	15.9	15.0	4.4	1.55%	1.17%
MRSH	Marsh & McLennan Companies, Inc.	0.66%	22.5	15.0	3.2	2.10%	0.81%
CSX	CSX Corporation	0.65%	28.3	21.2	6.2	1.15%	0.64%
FCX	Freeport-McMoRan Inc.	0.63%	34.3	18.1	3.9	0.86%	0.51%
ELV	Elevance Health Inc.	0.62%	19.0	13.7	0.5	1.61%	0.91%
PNC	The PNC Financial Services Group, Inc.	0.62%	11.6	10.7	3.5	3.68%	1.47%
USB	U.S. Bancorp	0.61%	11.4	10.4	3.3	3.68%	1.48%
MMM	3M Company	0.61%	29.3	17.8	3.4	1.89%	0.58%
TRV	The Travelers Companies, Inc.	0.60%	10.5	10.8	1.7	1.28%	1.58%
MDLZ	Mondelez International, Inc.	0.59%	23.5	18.2	2.1	3.25%	0.70%
EMR	Emerson Electric Co.	0.59%	35.3	21.5	4.9	1.37%	0.46%
JCI	Johnson Controls International plc	0.58%	41.1	23.9	3.5	1.10%	0.39%
WMB	The Williams Companies, Inc.	0.57%	28.4	26.8	7.1	2.95%	0.56%
EOG	EOG Resources, Inc.	0.57%	12.3	10.1	3.1	2.58%	1.28%
DDOG	Datadog, Inc.	0.57%	494.2	84.7	22.4	—	0.03%
HLT	Hilton Worldwide Holdings Inc.	0.56%	50.6	28.7	15.2	0.17%	0.31%
MSI	Motorola Solutions, Inc.	0.55%	36.5	23.9	6.3	1.05%	0.42%

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 IMCB valuation

Adding up its 393 holdings with company data, IMCB trades at 27.6 times trailing earnings and 16.1 times analysts' forward estimates, with a price-to-book ratio of 3.38 and a dividend yield of 1.55%. Its earnings yield of 3.62% is 1.71 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 7.6% of the fund and earn 7.8% of its combined profit. By sector, Technology is the most expensive at 96.2 times earnings and Financial Services the cheapest at 14.8. Companies that lost money over the past year are 7.8% 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.

IMCB valuation FAQ

What is the P/E ratio of IMCB?

Based on its holdings, IMCB has a trailing P/E of 27.6 and a forward P/E of 16.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of IMCB?

The trailing earnings yield is 3.62% (1 ÷ P/E) and the forward earnings yield 6.21%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is IMCB more expensive than the S&P 500?

IMCB trades at 27.6 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 16.1 and 19.9.

What is the price-to-book ratio of IMCB?

The holdings of IMCB trade at 3.38 times book value, with a combined return on equity of 12.3%.

Which sector in IMCB has the highest P/E?

Technology has the highest P/E at 96.2 and Financial Services the lowest at 14.8.