Hi Kris,

It is the verb 'valoir' which meant to be worth something and you can use in the  literal way to mean the worth/the price :

Ce bureau vaut 125 € = This desk is worth €125

When used as an impersonal expression with only 'il' or sometimes 'ça' 

followed by 'vaut', it indicates a general comment or a saying/proverb.

Il vaut mieux entendre ça que d'être sourd = (It's) better to hear that than be deaf 

Ça vaut la peine de venir = It's worth your while coming

Il vaut mieux le faire soi-même = (It's) better to do it yourself 

Ça ne vaut pas le coup! = It's not worth it!

Hope this helps!