iShares Morningstar Mid-Cap Value ETF (IMCV) Valuation

NASDAQ: IMCVP/E, earnings yield and other ratios of the holdings combined.

IMCV valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 22.0
Forward P/E: 12.8
Price / sales: 1.39
Price / book: 2.40
EV / EBITDA: 11.2
Earnings yield: 4.54%
Dividend yield: 2.26%
Return on equity: 10.9%
Net margin: 6.3%
Beta: 0.82

IMCV valuation vs other stock ETFs

P/E (TTM)Forward P/E

IMCV valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
IMCV	22.0	12.8	1.39	2.40	2.26%	10.9%	6.3%	5.5%
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.

IMCV valuation by sector

P/E (TTM)Forward P/E

IMCV valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Financial Services	17.6%	12.2	10.7	1.96	1.68	2.45%	13.7%
Energy	13.2%	17.7	11.3	1.61	2.65	2.09%	15.0%
Healthcare	12.0%	32.8	14.4	0.93	2.84	0.90%	8.7%
Industrials	10.9%	21.9	14.7	1.67	4.10	1.96%	18.7%
Technology	10.8%	444.0	12.9	2.08	2.90	1.44%	0.7%
Utilities	9.0%	18.5	14.4	2.41	1.80	3.32%	9.7%
Consumer Defensive	8.8%	27.8	14.6	0.76	2.99	3.00%	10.8%
Consumer Cyclical	7.6%	36.4	11.1	0.79	2.27	2.31%	6.2%
Real Estate	4.6%	21.1	20.8	4.88	2.43	4.91%	11.5%
Basic Materials	4.1%	27.4	13.6	1.50	2.35	2.08%	8.6%
Communication Services	1.1%	14.1	8.0	0.94	1.79	1.56%	12.7%

IMCV earnings yield vs bond yields

IMCV earnings yield (forward)

7.82%

IMCV earnings yield (trailing)

4.54%

IMCV dividend yield

2.26%

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 IMCV weight splits by P/E

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

IMCV largest holdings: valuation

IMCV largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
VLO	Valero Energy Corporation	1.72%	18.5	10.2	1.0	1.08%	2.05%
ADP	Automatic Data Processing, Inc.	1.72%	26.4	22.0	5.2	2.35%	1.44%
PSX	Phillips 66	1.52%	16.8	9.7	0.8	1.81%	2.00%
MMM	3M Company	1.30%	29.3	17.8	3.4	1.89%	0.98%
PNC	The PNC Financial Services Group, Inc.	1.30%	11.6	10.7	3.5	3.68%	2.47%
USB	U.S. Bancorp	1.25%	11.4	10.4	3.3	3.68%	2.41%
ELV	Elevance Health Inc.	1.22%	19.0	13.7	0.5	1.61%	1.42%
TRV	The Travelers Companies, Inc.	1.21%	10.5	10.8	1.7	1.28%	2.56%
MDLZ	Mondelez International, Inc.	1.18%	23.5	18.2	2.1	3.25%	1.11%
REGN	Regeneron Pharmaceuticals, Inc.	1.16%	19.6	14.5	5.2	0.48%	1.31%
EOG	EOG Resources, Inc.	1.09%	12.3	10.1	3.1	2.58%	1.95%
CI	Cigna Corporation	1.08%	12.5	8.3	0.3	2.06%	1.90%
UPS	United Parcel Service, Inc.	1.08%	18.1	12.0	0.9	6.73%	1.31%
MRNA	Moderna, Inc.	1.03%	—	23.0	39.1	—	−0.83%
HPE	Hewlett Packard Enterprise Company	0.99%	28.4	13.6	1.7	1.03%	0.77%
SLB	Schlumberger Limited	0.98%	23.9	15.9	2.0	2.38%	0.90%
TGT	Target Corporation	0.96%	16.0	15.6	0.7	3.01%	1.32%
GM	General Motors Company	0.95%	37.7	5.6	0.4	0.86%	0.56%
KMI	Kinder Morgan, Inc.	0.94%	22.1	20.0	4.2	3.45%	0.94%
MPC	Marathon Petroleum Corporation	0.87%	16.6	5.5	0.9	0.84%	1.16%
TFC	Truist Financial Corporation	0.85%	10.8	9.6	3.0	4.47%	1.73%
LNG	Cheniere Energy, Inc.	0.85%	21.9	13.5	2.9	0.77%	0.86%
MRSH	Marsh & McLennan Companies, Inc.	0.85%	22.5	15.0	3.2	2.10%	0.83%
OKE	ONEOK, Inc.	0.83%	16.1	14.5	1.5	4.59%	1.14%
D	Dominion Energy, Inc.	0.79%	22.0	15.9	3.1	4.20%	0.79%

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 IMCV valuation

Adding up its 267 holdings with company data, IMCV trades at 22.0 times trailing earnings and 12.8 times analysts' forward estimates, with a price-to-book ratio of 2.40 and a dividend yield of 2.26%. Its earnings yield of 4.54% is 0.78 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 13.6% of the fund and earn 17.7% of its combined profit. By sector, Technology is the most expensive at 444.0 times earnings and Financial Services the cheapest at 12.2. Companies that lost money over the past year are 5.5% 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.

IMCV valuation FAQ

What is the P/E ratio of IMCV?

Based on its holdings, IMCV has a trailing P/E of 22.0 and a forward P/E of 12.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of IMCV?

The trailing earnings yield is 4.54% (1 ÷ P/E) and the forward earnings yield 7.82%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is IMCV more expensive than the S&P 500?

IMCV trades at 22.0 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 12.8 and 19.9.

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

The holdings of IMCV trade at 2.40 times book value, with a combined return on equity of 10.9%.

Which sector in IMCV has the highest P/E?

Technology has the highest P/E at 444.0 and Financial Services the lowest at 12.2.