VanEck Pharmaceutical ETF (PPH) Valuation
PPH valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 30.2 trailing earnings
- Forward P/E
- 14.3 analyst estimates
- Price / sales
- 0.32
- Price / book
- 5.16
- EV / EBITDA
- 14.1
- Earnings yield
- 3.31% inverse of P/E
- Dividend yield
- 2.33% of the holdings
- Return on equity
- 17.1% combined
- Net margin
- 1.0% combined
- Beta
- 0.37 weighted, vs S&P 500
PPH valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| PPH | 30.2 | 14.3 | 0.32 | 5.16 | 2.33% | 17.1% | 1.0% | 6.2% |
| 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.
PPH valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Healthcare | 96.7% | 30.2 | 14.3 | 0.32 | 5.16 | 2.33% | 17.1% |
PPH 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 PPH weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
PPH largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| LLY | Eli Lilly and Company | 21.83% | 42.2 | 24.4 | 14.1 | 0.55% | 17.71% |
| MRK | Merck & Co., Inc. | 13.12% | 115.8 | 15.3 | 5.4 | 2.33% | 3.88% |
| NVO | Novo Nordisk A/S | 5.49% | 9.1 | 11.8 | 0.5 | 4.63% | 20.55% |
| PFE | Pfizer Inc. | 4.92% | 38.9 | 9.7 | 2.6 | 5.81% | 4.32% |
| MCK | McKesson Corporation | 4.82% | 26.9 | 19.7 | 0.3 | 0.37% | 6.12% |
| GSK | GSK plc | 4.68% | 15.6 | 9.8 | 3.0 | 3.67% | 10.25% |
| COR | Cencora | 4.49% | 25.3 | 15.7 | 0.2 | 0.70% | 6.07% |
| BMY | Bristol-Myers Squibb Company | 4.45% | 13.2 | 9.4 | 2.5 | 4.22% | 11.56% |
| TEVA | Teva Pharmaceutical Industries Ltd | 4.39% | — | — | — | — | — |
| H6D | Haleon PLC | 3.95% | — | — | — | — | — |
| NVS | Novartis AG | 3.81% | 22.8 | 14.7 | 5.0 | 3.15% | 5.73% |
| ABBV | AbbVie Inc. | 3.81% | 80.6 | 16.4 | 7.8 | 2.42% | 1.62% |
| AZN | AstraZeneca PLC | 3.69% | — | — | — | — | — |
| JNJ | Johnson & Johnson | 3.38% | 38.8 | 21.0 | 6.2 | 2.10% | 2.98% |
| SNY | Sanofi | 3.18% | 21.4 | 8.6 | 2.0 | 5.96% | 5.10% |
| TAK | Takeda Pharmaceutical Company Limited | 2.90% | — | 11.5 | 0.0 | 3.13% | −1.72% |
| ZTS | Zoetis Inc. | 2.69% | 13.1 | 12.0 | 3.4 | 2.67% | 7.05% |
| VTRS | Viatris Inc. | 1.41% | — | 6.4 | 1.5 | 2.57% | −0.93% |
| JAZZ | Jazz Pharmaceuticals plc | 1.14% | 14.4 | 10.9 | 3.0 | — | 2.71% |
| CORT | Corcept Therapeutics Incorporated | 0.70% | 244.8 | 19.3 | 14.3 | — | 0.10% |
| AXSM | Axsome Therapeutics, Inc. | 0.56% | — | 32.2 | 10.6 | — | −0.46% |
| ELAN | Elanco Animal Health Incorporated | 0.46% | — | 17.4 | 2.3 | — | −0.28% |
| DFTX | Definium Therapeutics, Inc. | 0.42% | — | — | — | — | — |
| OGN | Organon & Co. | 0.28% | 17.6 | 5.1 | 0.6 | 0.58% | 0.55% |
| PRGO | Perrigo Company plc | 0.12% | — | 6.0 | 0.6 | 6.98% | −2.92% |
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 PPH valuation
Adding up its 21 holdings with company data, PPH trades at 30.2 times trailing earnings and 14.3 times analysts' forward estimates, with a price-to-book ratio of 5.16 and a dividend yield of 2.33%. Its earnings yield of 3.31% is 2.02 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 72.1% of the fund and earn 87.8% of its combined profit. Companies that lost money over the past year are 6.2% 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 87.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: PPH chart, PPH performance, PPH holdings, PPH dividends.
PPH valuation FAQ
What is the P/E ratio of PPH?
Based on its holdings, PPH has a trailing P/E of 30.2 and a forward P/E of 14.3 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of PPH?
The trailing earnings yield is 3.31% (1 ÷ P/E) and the forward earnings yield 7.02%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is PPH more expensive than the S&P 500?
PPH trades at 30.2 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.3 and 19.9.
What is the price-to-book ratio of PPH?
The holdings of PPH trade at 5.16 times book value, with a combined return on equity of 17.1%.