VanEck Morningstar Wide Moat Value ETF (MVAL) Valuation

Cboe BZX: MVALP/E, earnings yield and other ratios of the holdings combined.

MVAL valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 18.3
Forward P/E: 15.1
Price / sales: 2.14
Price / book: 3.90
EV / EBITDA: 13.0
Earnings yield: 5.47%
Dividend yield: 2.45%
Return on equity: 21.3%
Net margin: 11.7%
Beta: 0.70

MVAL valuation vs other stock ETFs

P/E (TTM)Forward P/E

MVAL valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
MVAL	18.3	15.1	2.14	3.90	2.45%	21.3%	11.7%	0.0%
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.

MVAL valuation by sector

P/E (TTM)Forward P/E

MVAL valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Consumer Defensive	30.1%	15.4	14.1	1.80	3.06	4.03%	19.9%
Healthcare	17.7%	19.5	12.7	2.48	2.59	1.35%	13.3%
Consumer Cyclical	14.0%	18.5	16.7	1.40	6.90	2.75%	37.2%
Industrials	13.4%	18.1	15.3	1.74	6.09	1.87%	33.7%
Technology	13.0%	25.2	19.4	4.79	6.20	1.60%	24.6%
Financial Services	5.4%	18.7	15.7	6.53	4.06	1.39%	21.7%
Communication Services	3.6%	23.4	22.3	8.23	7.16	0.29%	30.6%

MVAL earnings yield vs bond yields

MVAL earnings yield (forward)

6.60%

MVAL earnings yield (trailing)

5.47%

MVAL dividend yield

2.45%

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 MVAL weight splits by P/E

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

MVAL largest holdings: valuation

MVAL largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
DHR	Danaher Corporation	4.74%	40.8	23.8	6.4	0.70%	2.18%
BR	Broadridge Financial Solutions, Inc.	4.66%	18.2	15.5	2.6	2.49%	4.80%
BF.B	Brown-Forman Corporation	4.35%	18.6	15.6	3.4	3.20%	4.39%
STZ	Constellation Brands, Inc.	4.33%	11.8	10.0	2.4	3.14%	6.92%
KVUE	Kenvue Inc.	4.32%	22.0	14.7	2.4	4.44%	3.69%
GEHC	GE HealthCare Technologies Inc.	4.29%	16.0	12.1	1.5	0.23%	5.05%
MDLZ	Mondelez International, Inc.	4.25%	23.5	18.2	2.1	3.25%	3.40%
TSCO	Tractor Supply Company	4.17%	17.3	14.5	1.1	2.90%	4.54%
ZBH	Zimmer Biomet Holdings, Inc.	4.12%	23.1	10.1	2.1	1.01%	3.35%
MKC	McCormick & Company, Incorporated	3.92%	8.4	14.3	1.6	4.14%	8.79%
NKE	NIKE, Inc.	3.87%	17.9	21.0	1.2	4.42%	4.07%
CLX	The Clorox Company	3.75%	18.1	14.9	1.6	5.74%	3.89%
MSFT	Microsoft Corporation	3.47%	29.5	25.1	11.8	0.74%	2.21%
META	Meta Platforms, Inc.	2.74%	26.7	22.1	7.9	0.30%	1.93%
OTIS	Otis Worldwide Corporation	2.71%	18.3	15.1	1.8	2.47%	2.78%
MAS	Masco Corporation	2.59%	16.8	14.7	1.9	1.76%	2.90%
LMT	Lockheed Martin Corporation	2.49%	20.3	16.2	1.7	2.61%	2.30%
SCHW	The Charles Schwab Corporation	2.47%	15.7	12.9	5.9	1.39%	2.95%
ZTS	Zoetis Inc.	2.40%	13.1	12.0	3.4	2.67%	3.45%
CPB	Campbell Soup Company	2.14%	15.2	11.9	0.6	5.03%	2.65%
BMY	Bristol-Myers Squibb Company	2.11%	13.2	9.4	2.5	4.22%	3.02%
LOW	Lowe's Companies, Inc.	1.96%	16.7	15.6	1.2	2.53%	2.20%
PEP	PepsiCo, Inc.	1.88%	16.5	14.9	1.8	4.50%	2.13%
BKNG	Booking Holdings Inc.	1.78%	18.1	13.3	4.3	1.03%	1.85%
HII	Huntington Ingalls Industries, Inc.	1.58%	16.2	12.6	0.8	2.03%	1.83%

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 MVAL valuation

Adding up its 39 holdings with company data, MVAL trades at 18.3 times trailing earnings and 15.1 times analysts' forward estimates, with a price-to-book ratio of 3.90 and a dividend yield of 2.45%. Its earnings yield of 5.47% is 0.15 points above the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 43.2% of the fund and earn 47.1% of its combined profit. By sector, Technology is the most expensive at 25.2 times earnings and Consumer Defensive the cheapest at 15.4. Companies that lost money over the past year are 0.0% 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.

MVAL valuation FAQ

What is the P/E ratio of MVAL?

Based on its holdings, MVAL has a trailing P/E of 18.3 and a forward P/E of 15.1 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of MVAL?

The trailing earnings yield is 5.47% (1 ÷ P/E) and the forward earnings yield 6.60%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is MVAL more expensive than the S&P 500?

MVAL trades at 18.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.1 and 19.9.

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

The holdings of MVAL trade at 3.90 times book value, with a combined return on equity of 21.3%.

Which sector in MVAL has the highest P/E?

Technology has the highest P/E at 25.2 and Consumer Defensive the lowest at 15.4.