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
United States VTI 26.54
Expensive
Expensive
Expensive
 20.85 18.61 16.09
+3.12 σ
+3.85 σ
+4.72 σ
 21 Oct
India INDA 26.42
Expensive
Expensive
Expensive
 22.13 19.56 17.22
+3.00 σ
+3.09 σ
+3.64 σ
 21 Oct
New Zealand ENZL 25.17
Fair
Fair
Overvalued
 27.31 25.66 19.89
-0.49 σ
-0.12 σ
+1.05 σ
 21 Oct
Switzerland EWL 24.01
Expensive
Expensive
Expensive
 18.33 17.42 15.40
+4.30 σ
+6.20 σ
+4.55 σ
 21 Oct
Australia EWA 21.19
Expensive
Expensive
Expensive
 16.43 15.71 14.50
+2.59 σ
+4.83 σ
+5.20 σ
 21 Oct
Taiwan EWT 20.00
Expensive
Expensive
Expensive
 15.49 14.11 13.57
+2.25 σ
+3.84 σ
+4.69 σ
 21 Oct
Denmark EDEN 19.31
Fair
Fair
Overvalued
 19.52 18.61 16.47
-0.05 σ
+0.30 σ
+1.53 σ
 21 Oct
Canada EWC 19.16
Expensive
Expensive
Expensive
 14.63 14.80 14.19
+3.26 σ
+4.08 σ
+5.01 σ
 21 Oct
Belgium EWK 18.20
Fair
Fair
Overvalued
 16.06 16.92 14.42
+0.73 σ
+0.67 σ
+1.48 σ
 21 Oct
Thailand THD 18.02
Fair
Fair
Fair
 19.02 18.00 15.45
-0.51 σ
+0.01 σ
+0.92 σ
 21 Oct
Perù EPU 17.73
Expensive
Expensive
Expensive
 12.07 12.58 12.48
+2.71 σ
+3.65 σ
+3.20 σ
 21 Oct
France EWQ 17.62
Overvalued
Expensive
Expensive
 15.75 14.81 12.99
+1.04 σ
+2.08 σ
+2.77 σ
 21 Oct
United Kingdom EWU 16.39
Expensive
Expensive
Expensive
 12.03 13.09 12.15
+2.96 σ
+2.37 σ
+2.95 σ
 21 Oct
Argentina ARGT 15.93
Expensive
Expensive
Expensive
 11.85 11.53 10.32
+3.51 σ
+2.99 σ
+2.55 σ
 21 Oct
Malaysia EWM 15.56
Overvalued
Fair
Overvalued
 14.50 15.09 14.57
+1.15 σ
+0.63 σ
+1.14 σ
 21 Oct
Hong Kong EWH 15.51
Fair
Fair
Fair
 15.20 15.05 15.19
+0.29 σ
+0.53 σ
+0.34 σ
 21 Oct
Ireland EIRL 15.39
Fair
Fair
Fair
 16.92 16.14 16.12
-0.55 σ
-0.41 σ
-0.29 σ
 21 Oct
Vietnam VNM 15.27
Fair
-
-
 16.40 - -
-0.37 σ
-
-
 21 Oct
Germany EWG 15.08
Overvalued
Expensive
Expensive
 13.45 13.12 12.25
+1.03 σ
+2.01 σ
+2.64 σ
 21 Oct
South Africa EZA 14.27
Expensive
Fair
Overvalued
 10.05 12.36 11.65
+4.70 σ
+0.92 σ
+1.65 σ
 21 Oct
Sweden EWD 14.15
Undervalued
Undervalued
Fair
 16.03 15.72 14.63
-1.07 σ
-1.38 σ
-0.35 σ
 21 Oct
Netherlands EWN 14.08
Undervalued
Undervalued
Fair
 19.06 16.80 13.98
-1.89 σ
-1.39 σ
+0.05 σ
 21 Oct
Indonesia EIDO 13.69
Fair
Fair
Fair
 13.84 14.54 13.55
-0.10 σ
-0.75 σ
+0.10 σ
 21 Oct
Israel EIS 13.30
Overvalued
Expensive
Overvalued
 11.12 10.94 10.99
+1.35 σ
+2.59 σ
+1.50 σ
 21 Oct
Singapore EWS 12.48
Fair
Fair
Fair
 13.22 12.95 13.31
-0.62 σ
-0.52 σ
-0.97 σ
 21 Oct
Japan EWJ 12.23
Undervalued
Undervalued
Undervalued
 14.80 14.03 14.49
-1.61 σ
-1.49 σ
-1.41 σ
 21 Oct
Chile ECH 11.80
Fair
Fair
Undervalued
 10.68 13.45 14.85
+0.37 σ
-0.61 σ
-1.83 σ
 21 Oct
Mexico EWW 11.42
Undervalued
Undervalued
Undervalued
 12.92 14.50 14.27
-1.58 σ
-1.67 σ
-1.65 σ
 21 Oct
Qatar QAT 11.24
Undervalued
-
-
 13.95 - -
-1.42 σ
-
-
 21 Oct
Italy EWI 11.23
Fair
Fair
Fair
 10.62 11.58 11.24
+0.34 σ
-0.22 σ
-0.01 σ
 21 Oct
Philippines EPHE 11.19
Undervalued
Cheap
Cheap
 14.48 16.22 15.32
-1.52 σ
-2.74 σ
-2.07 σ
 21 Oct
South Korea EWY 10.99
Fair
Overvalued
Overvalued
 10.67 10.00 9.73
+0.28 σ
+1.06 σ
+1.36 σ
 21 Oct
Norway NORW 10.54
Fair
Undervalued
Fair
 11.54 12.55 11.57
-0.39 σ
-1.13 σ
-0.66 σ
 21 Oct
Spain EWP 10.06
Fair
Undervalued
Undervalued
 11.64 12.14 11.63
-0.94 σ
-1.51 σ
-1.04 σ
 21 Oct
Poland EPOL 10.02
Fair
Fair
Undervalued
 9.95 11.14 11.52
+0.03 σ
-0.81 σ
-1.22 σ
 21 Oct
China FXI 9.47
Fair
Undervalued
Fair
 11.22 11.06 11.06
-0.86 σ
-1.10 σ
-0.95 σ
 21 Oct
Brazil EWZ 8.97
Fair
Fair
Fair
 8.49 10.14 9.73
+0.24 σ
-0.63 σ
-0.47 σ
 21 Oct
Austria EWO 7.95
Fair
Fair
Undervalued
 8.27 9.72 10.08
-0.17 σ
-0.98 σ
-1.28 σ
 21 Oct
Greece GREK 6.29
Undervalued
Cheap
Cheap
 10.39 11.38 11.38
-1.80 σ
-2.65 σ
-2.21 σ
 21 Oct
Colombia GXG 6.27
Fair
Undervalued
Cheap
 7.80 10.28 13.20
-0.71 σ
-1.64 σ
-2.43 σ
 21 Oct
Turkey TUR 4.00
Cheap
Cheap
Cheap
 5.54 6.61 8.10
-2.14 σ
-2.19 σ
-2.52 σ
 21 Oct
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).