Glossary
What is Conv. value/cost in Google Ads?
Melvin Salas1 min readVerified 1 October 2026
Short answer
Conv. value/cost, conversion value per cost, is the Google Ads column that, in Google's words, estimates your return on investment. It is calculated by dividing your total conversion value by the total cost of all the ad interactions. Google's Target ROAS page uses it as the historical reference for setting a target, beside your business goals: add the Conv. value/cost column, then multiply it by 100 to get your Target ROAS percentage.
Its value comes from the Conversions column. Google defines Total conv. value as the sum of conversion values for your Conversions, which Google describes as your primary conversion actions, and says you have to enter a value for your conversion actions to make that metric useful. In the new Google Ads experience that column is called Conv. value. All conv. value/cost is the same division taken over All conversions.
It is also the number Target ROAS steers. Google says some conversions may return a higher ROAS and some a lower one, but all together Google Ads will try to keep your conversion value per cost equal to the Target ROAS that you set. When you use the column to set a target, Google says to ensure the time frame of your ROAS evaluation excludes the most recent conversion delay period.
Two cautions are ours rather than Google's. The column is a ratio built from the conversion values the account is sent, so it is only as good as those values, and Google's own troubleshooting note covers values that are missing or defaulting to £1.00. And it is a revenue ratio, not a profit one: whether a given figure makes money depends on your margin, which this column does not include.
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