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 32.58
Overvalued
Overvalued
Expensive
 27.28 25.79 20.01
+1.21 σ
+1.64 σ
+2.50 σ
 20 Dec
United States VTI 25.69
Expensive
Expensive
Expensive
 21.15 18.75 16.15
+2.57 σ
+3.27 σ
+4.16 σ
 20 Dec
India INDA 24.12
Overvalued
Overvalued
Expensive
 22.36 19.71 17.32
+1.29 σ
+1.95 σ
+2.66 σ
 20 Dec
Switzerland EWL 20.81
Overvalued
Expensive
Expensive
 18.50 17.50 15.45
+1.60 σ
+3.04 σ
+2.79 σ
 20 Dec
Australia EWA 19.74
Overvalued
Expensive
Expensive
 16.55 15.83 14.53
+1.63 σ
+3.27 σ
+3.96 σ
 20 Dec
Canada EWC 18.21
Expensive
Expensive
Expensive
 14.77 14.87 14.21
+2.32 σ
+3.04 σ
+3.96 σ
 20 Dec
Taiwan EWT 17.04
Fair
Overvalued
Expensive
 15.62 14.21 13.64
+0.67 σ
+1.73 σ
+2.39 σ
 20 Dec
France EWQ 16.72
Fair
Overvalued
Expensive
 15.89 14.90 13.03
+0.47 σ
+1.33 σ
+2.15 σ
 20 Dec
Denmark EDEN 16.07
Fair
Undervalued
Fair
 19.41 18.62 16.50
-0.78 σ
-1.08 σ
-0.23 σ
 20 Dec
Germany EWG 15.66
Overvalued
Expensive
Expensive
 13.54 13.20 12.27
+1.31 σ
+2.48 σ
+3.11 σ
 20 Dec
United Kingdom EWU 15.63
Expensive
Overvalued
Expensive
 12.15 13.14 12.15
+2.16 σ
+1.73 σ
+2.41 σ
 20 Dec
Thailand THD 15.36
Undervalued
Undervalued
Fair
 18.97 18.03 15.53
-1.81 σ
-1.47 σ
-0.06 σ
 20 Dec
Argentina ARGT 14.84
Expensive
Expensive
Overvalued
 11.87 11.64 10.37
+2.51 σ
+2.28 σ
+1.99 σ
 20 Dec
Belgium EWK 14.78
Fair
Undervalued
Fair
 16.12 16.93 14.47
-0.46 σ
-1.12 σ
+0.12 σ
 20 Dec
Malaysia EWM 14.47
Fair
Fair
Fair
 14.48 15.09 14.59
-0.01 σ
-0.83 σ
-0.14 σ
 20 Dec
Hong Kong EWH 14.19
Undervalued
Fair
Undervalued
 15.25 15.06 15.19
-1.01 σ
-0.99 σ
-1.06 σ
 20 Dec
Vietnam VNM 14.10
Fair
-
-
 16.28 - -
-0.70 σ
-
-
 20 Dec
Netherlands EWN 14.09
Undervalued
Undervalued
Fair
 18.98 16.80 13.99
-1.79 σ
-1.38 σ
+0.04 σ
 20 Dec
Japan EWJ 13.93
Fair
Fair
Fair
 14.81 14.05 14.46
-0.55 σ
-0.10 σ
-0.34 σ
 20 Dec
Sweden EWD 13.65
Undervalued
Undervalued
Fair
 15.95 15.70 14.62
-1.25 σ
-1.75 σ
-0.71 σ
 20 Dec
Ireland EIRL 13.59
Undervalued
Undervalued
Undervalued
 16.83 16.08 16.12
-1.15 σ
-1.36 σ
-1.03 σ
 20 Dec
Perù EPU 13.34
Fair
Fair
Fair
 12.22 12.61 12.48
+0.49 σ
+0.50 σ
+0.52 σ
 20 Dec
Israel EIS 13.24
Overvalued
Expensive
Overvalued
 11.24 10.99 10.99
+1.20 σ
+2.35 σ
+1.46 σ
 20 Dec
Singapore EWS 13.21
Fair
Fair
Fair
 13.22 12.94 13.30
-0.01 σ
+0.29 σ
-0.11 σ
 20 Dec
South Africa EZA 11.87
Overvalued
Fair
Fair
 10.06 12.35 11.69
+1.97 σ
-0.23 σ
+0.11 σ
 20 Dec
Indonesia EIDO 10.89
Undervalued
Cheap
Cheap
 13.76 14.51 13.58
-1.94 σ
-3.15 σ
-2.00 σ
 20 Dec
Qatar QAT 10.60
Undervalued
-
-
 13.84 - -
-1.61 σ
-
-
 20 Dec
Mexico EWW 10.24
Cheap
Cheap
Cheap
 12.83 14.38 14.26
-2.59 σ
-2.25 σ
-2.32 σ
 20 Dec
Norway NORW 10.18
Fair
Undervalued
Fair
 11.44 12.55 11.56
-0.49 σ
-1.33 σ
-0.88 σ
 20 Dec
Spain EWP 9.96
Fair
Undervalued
Undervalued
 11.57 12.05 11.60
-0.93 σ
-1.52 σ
-1.09 σ
 20 Dec
Chile ECH 9.74
Fair
Undervalued
Cheap
 10.57 13.38 14.80
-0.28 σ
-1.33 σ
-2.98 σ
 20 Dec
Philippines EPHE 9.74
Undervalued
Cheap
Cheap
 14.27 16.07 15.32
-2.00 σ
-3.27 σ
-2.80 σ
 20 Dec
Poland EPOL 9.49
Fair
Undervalued
Undervalued
 9.90 11.07 11.49
-0.21 σ
-1.14 σ
-1.61 σ
 20 Dec
Italy EWI 9.49
Fair
Undervalued
Undervalued
 10.60 11.55 11.21
-0.61 σ
-1.31 σ
-1.06 σ
 20 Dec
South Korea EWY 9.04
Undervalued
Undervalued
Fair
 10.64 10.03 9.75
-1.38 σ
-1.07 σ
-0.78 σ
 20 Dec
China FXI 8.87
Undervalued
Undervalued
Undervalued
 11.17 11.07 11.05
-1.11 σ
-1.54 σ
-1.30 σ
 20 Dec
Austria EWO 7.96
Fair
Fair
Undervalued
 8.21 9.66 10.03
-0.13 σ
-0.93 σ
-1.25 σ
 20 Dec
Brazil EWZ 7.47
Fair
Undervalued
Undervalued
 8.35 10.10 9.75
-0.48 σ
-1.41 σ
-1.43 σ
 20 Dec
Colombia GXG 6.62
Fair
Undervalued
Cheap
 7.60 10.13 13.08
-0.48 σ
-1.43 σ
-2.24 σ
 20 Dec
Greece GREK 6.03
Undervalued
Cheap
Cheap
 10.14 11.27 11.32
-1.78 σ
-2.62 σ
-2.27 σ
 20 Dec
Turkey TUR 4.46
Undervalued
Undervalued
Cheap
 5.47 6.52 8.04
-1.32 σ
-1.75 σ
-2.19 σ
 20 Dec
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).