Global P/E Ratios by Country

P/E Ratio
 
7
12
17
22
27
P/E vs 1Y Avg
P/E vs 5Y Avg
P/E vs 10Y Avg
P/E vs 20Y Avg
< -2σ
-2σ
-σ
+σ
+2σ
> +2σ
 
 
 
 
 
 
 
Undervalued
Fair
Overvalued
 
 
Cheap
 
 
 
Expensive

It is important to consider the P/E Ratio of a market before investing because it gives an indication of how much investors are willing to pay per dollar of earnings.

A market with a high P/E ratio may indicate that investors are optimistic about future earnings, but may also be overvalued. Similarly, a low P/E ratio may indicate undervaluation but may also indicate low growth prospects.

Therefore, comparing the current P/E ratio to historical values can help investors make informed decisions and identify potential risks and opportunities.

WORLD COUNTRIES P/E RATIO
Individual stock markets
Swipe left to see all data
P/E Evaluation Historical P/E Average P/E Deviation vs Avg
Country Trend P/E▾ 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years
New Zealand ENZL 32.82
Overvalued
Overvalued
Expensive
 27.32 25.60 19.83
+1.26 σ
+1.70 σ
+2.59 σ
 06 Sep
India INDA 26.79
Expensive
Expensive
Expensive
 22.01 19.49 17.17
+3.28 σ
+3.33 σ
+3.83 σ
 06 Sep
United States VTI 24.82
Expensive
Expensive
Expensive
 20.71 18.54 16.06
+2.23 σ
+3.10 σ
+4.03 σ
 06 Sep
Australia EWA 22.04
Expensive
Expensive
Expensive
 16.36 15.67 14.49
+3.20 σ
+5.85 σ
+5.94 σ
 06 Sep
Thailand THD 21.03
Overvalued
Overvalued
Overvalued
 19.02 17.97 15.41
+1.02 σ
+1.66 σ
+2.00 σ
 06 Sep
Taiwan EWT 20.39
Expensive
Expensive
Expensive
 15.41 14.06 13.54
+2.55 σ
+4.24 σ
+5.06 σ
 06 Sep
Denmark EDEN 20.10
Fair
Fair
Overvalued
 19.52 18.59 16.44
+0.13 σ
+0.64 σ
+1.98 σ
 06 Sep
Switzerland EWL 19.54
Fair
Expensive
Expensive
 18.29 17.39 15.37
+0.94 σ
+2.03 σ
+2.22 σ
 06 Sep
France EWQ 18.73
Overvalued
Expensive
Expensive
 15.65 14.76 12.97
+1.71 σ
+2.99 σ
+3.49 σ
 06 Sep
Canada EWC 18.50
Expensive
Expensive
Expensive
 14.56 14.78 14.17
+2.94 σ
+3.55 σ
+4.40 σ
 06 Sep
Belgium EWK 17.78
Fair
Fair
Overvalued
 16.00 16.89 14.38
+0.62 σ
+0.47 σ
+1.34 σ
 06 Sep
Japan EWJ 17.31
Overvalued
Expensive
Overvalued
 14.69 13.99 14.48
+1.67 σ
+2.84 σ
+1.79 σ
 06 Sep
Malaysia EWM 17.27
Expensive
Expensive
Expensive
 14.48 15.08 14.56
+3.05 σ
+2.97 σ
+3.12 σ
 06 Sep
Netherlands EWN 17.23
Fair
Fair
Overvalued
 19.01 16.76 13.94
-0.66 σ
+0.24 σ
+1.43 σ
 06 Sep
United Kingdom EWU 16.75
Expensive
Expensive
Expensive
 11.97 13.07 12.15
+3.36 σ
+2.69 σ
+3.19 σ
 06 Sep
Ireland EIRL 16.61
Fair
Fair
Fair
 16.90 16.16 16.11
-0.10 σ
+0.25 σ
+0.20 σ
 06 Sep
Vietnam VNM 16.47
Fair
-
-
 16.45 - -
+0.01 σ
-
-
 06 Sep
Perù EPU 15.88
Overvalued
Expensive
Expensive
 11.98 12.57 12.48
+1.96 σ
+2.38 σ
+2.07 σ
 06 Sep
Germany EWG 15.44
Overvalued
Expensive
Expensive
 13.39 13.08 12.24
+1.34 σ
+2.50 σ
+3.02 σ
 06 Sep
Sweden EWD 14.63
Fair
Fair
Fair
 15.99 15.72 14.62
-0.76 σ
-0.95 σ
+0.01 σ
 06 Sep
Hong Kong EWH 14.16
Fair
Fair
Undervalued
 15.14 15.02 15.19
-0.90 σ
-0.98 σ
-1.10 σ
 06 Sep
Indonesia EIDO 13.48
Fair
Fair
Fair
 13.89 14.56 13.54
-0.28 σ
-0.98 σ
-0.04 σ
 06 Sep
South Africa EZA 13.44
Expensive
Fair
Overvalued
 10.05 12.35 11.62
+3.77 σ
+0.53 σ
+1.15 σ
 06 Sep
Singapore EWS 13.24
Fair
Fair
Fair
 13.20 12.95 13.30
+0.03 σ
+0.31 σ
-0.07 σ
 06 Sep
Argentina ARGT 13.09
Overvalued
Overvalued
Overvalued
 11.86 11.48 10.31
+1.05 σ
+1.06 σ
+1.26 σ
 06 Sep
Israel EIS 12.69
Overvalued
Overvalued
Overvalued
 11.06 10.91 10.99
+1.02 σ
+1.99 σ
+1.09 σ
 06 Sep
South Korea EWY 12.42
Overvalued
Expensive
Expensive
 10.63 9.97 9.71
+1.60 σ
+2.69 σ
+2.94 σ
 06 Sep
Philippines EPHE 11.58
Undervalued
Cheap
Undervalued
 14.57 16.30 15.32
-1.41 σ
-2.64 σ
-1.88 σ
 06 Sep
Italy EWI 11.55
Fair
Fair
Fair
 10.60 11.59 11.26
+0.53 σ
-0.03 σ
+0.18 σ
 06 Sep
Chile ECH 11.29
Fair
Fair
Cheap
 10.76 13.49 14.87
+0.17 σ
-0.81 σ
-2.16 σ
 06 Sep
Norway NORW 10.91
Fair
Fair
Fair
 11.57 12.55 11.57
-0.25 σ
-0.92 σ
-0.42 σ
 06 Sep
Mexico EWW 10.88
Cheap
Undervalued
Undervalued
 12.94 14.55 14.26
-2.18 σ
-1.98 σ
-1.96 σ
 06 Sep
Poland EPOL 10.82
Fair
Fair
Fair
 9.94 11.17 11.52
+0.45 σ
-0.24 σ
-0.57 σ
 06 Sep
Qatar QAT 10.79
Undervalued
-
-
 14.01 - -
-1.72 σ
-
-
 06 Sep
Spain EWP 10.06
Fair
Undervalued
Undervalued
 11.66 12.18 11.64
-0.96 σ
-1.54 σ
-1.06 σ
 06 Sep
China FXI 9.00
Undervalued
Undervalued
Undervalued
 11.20 11.04 11.05
-1.08 σ
-1.39 σ
-1.23 σ
 06 Sep
Austria EWO 8.05
Fair
Fair
Undervalued
 8.29 9.75 10.11
-0.12 σ
-0.94 σ
-1.23 σ
 06 Sep
Brazil EWZ 7.74
Fair
Undervalued
Undervalued
 8.57 10.17 9.72
-0.40 σ
-1.31 σ
-1.20 σ
 06 Sep
Turkey TUR 7.71
Expensive
Fair
Fair
 5.52 6.62 8.12
+3.15 σ
+0.90 σ
-0.25 σ
 06 Sep
Greece GREK 7.20
Undervalued
Cheap
Undervalued
 10.51 11.46 11.41
-1.47 σ
-2.25 σ
-1.84 σ
 06 Sep
Colombia GXG 5.72
Undervalued
Undervalued
Cheap
 7.89 10.37 13.26
-1.00 σ
-1.91 σ
-2.66 σ
 06 Sep
Methodology
The Average P/E (μ) and the Standard Deviation (σ) are calculated excluding 20% outliers (i.e. over a range of values excluding 10% of observations from the top and 10% from the bottom of the dataset).
A P/E between (μ - σ) and (μ + σ) is considered "Fair", over a specific timeframe.
A P/E greater than (μ + σ) is defined "Overvalued", greater than (μ + 2σ) is defined "Expensive".
A P/E less than (μ - σ) is defined "Undervalued", less than (μ - 2σ) is defined "Cheap".
The Trend is considered positive if the ETF price is higher than the 200-day moving average (SMA).