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
+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 27.78
Fair
Fair
Overvalued
27.16 25.39 19.67
+0.14 σ
+0.56 σ
+1.64 σ
18 Jul
United States VTI 25.14
Expensive
Expensive
Expensive
20.47 18.40 16.00
+2.50 σ
+3.42 σ
+4.36 σ
18 Jul
India INDA 24.25
Overvalued
Expensive
Expensive
21.77 19.34 17.07
+1.62 σ
+2.29 σ
+2.88 σ
18 Jul
Australia EWA 20.57
Expensive
Expensive
Expensive
16.20 15.59 14.46
+2.64 σ
+4.93 σ
+4.90 σ
18 Jul
Denmark EDEN 19.41
Fair
Fair
Overvalued
19.47 18.53 16.39
-0.01 σ
+0.37 σ
+1.67 σ
18 Jul
France EWQ 19.25
Expensive
Expensive
Expensive
15.46 14.68 12.95
+2.13 σ
+3.59 σ
+3.90 σ
18 Jul
Taiwan EWT 19.16
Expensive
Expensive
Expensive
15.25 13.99 13.48
+2.14 σ
+3.65 σ
+4.32 σ
18 Jul
Switzerland EWL 18.85
Fair
Overvalued
Overvalued
18.19 17.31 15.33
+0.51 σ
+1.47 σ
+1.90 σ
18 Jul
Thailand THD 17.97
Fair
Fair
Fair
19.00 17.89 15.32
-0.52 σ
+0.04 σ
+0.93 σ
18 Jul
Canada EWC 17.61
Expensive
Expensive
Expensive
14.41 14.75 14.15
+2.57 σ
+2.83 σ
+3.58 σ
18 Jul
Ireland EIRL 16.91
Fair
Fair
Fair
16.76 16.16 16.07
+0.05 σ
+0.41 σ
+0.34 σ
18 Jul
Japan EWJ 16.83
Overvalued
Expensive
Overvalued
14.51 13.93 14.48
+1.52 σ
+2.61 σ
+1.49 σ
18 Jul
Netherlands EWN 16.75
Fair
Fair
Overvalued
18.92 16.70 13.89
-0.79 σ
+0.02 σ
+1.25 σ
18 Jul
Belgium EWK 16.53
Fair
Fair
Fair
15.94 16.87 14.32
+0.21 σ
-0.17 σ
+0.87 σ
18 Jul
Perù EPU 16.28
Expensive
Expensive
Expensive
11.87 12.54 12.48
+2.43 σ
+2.75 σ
+2.31 σ
18 Jul
United Kingdom EWU 15.83
Expensive
Expensive
Expensive
11.86 13.03 12.15
+3.00 σ
+2.11 σ
+2.56 σ
18 Jul
Vietnam VNM 15.40
Fair
-
-
16.53 - -
-0.36 σ
-
-
18 Jul
Hong Kong EWH 15.16
Fair
Fair
Fair
15.13 15.03 15.18
+0.03 σ
+0.15 σ
-0.02 σ
18 Jul
Sweden EWD 14.86
Fair
Fair
Fair
15.97 15.72 14.61
-0.62 σ
-0.75 σ
+0.19 σ
18 Jul
Germany EWG 14.81
Overvalued
Overvalued
Expensive
13.27 13.03 12.22
+1.04 σ
+1.97 σ
+2.48 σ
18 Jul
Argentina ARGT 12.72
Fair
Fair
Overvalued
11.85 11.37 10.27
+0.74 σ
+0.85 σ
+1.12 σ
18 Jul
Mexico EWW 12.52
Fair
Undervalued
Undervalued
12.96 14.67 14.26
-0.48 σ
-1.15 σ
-1.00 σ
18 Jul
Israel EIS 12.21
Fair
Overvalued
Fair
10.97 10.88 11.01
+0.79 σ
+1.54 σ
+0.76 σ
18 Jul
Indonesia EIDO 12.20
Undervalued
Cheap
Fair
13.99 14.59 13.51
-1.22 σ
-2.23 σ
-0.91 σ
18 Jul
Chile ECH 12.12
Fair
Fair
Undervalued
10.84 13.55 14.88
+0.40 σ
-0.53 σ
-1.69 σ
18 Jul
Singapore EWS 11.98
Undervalued
Undervalued
Undervalued
13.19 12.97 13.31
-1.01 σ
-1.09 σ
-1.56 σ
18 Jul
Norway NORW 11.36
Fair
Fair
Fair
11.63 12.56 11.56
-0.10 σ
-0.68 σ
-0.13 σ
18 Jul
South Korea EWY 11.23
Fair
Overvalued
Overvalued
10.58 9.94 9.67
+0.61 σ
+1.49 σ
+1.71 σ
18 Jul
Philippines EPHE 10.76
Undervalued
Cheap
Cheap
14.78 16.44 15.32
-1.99 σ
-3.40 σ
-2.29 σ
18 Jul
Italy EWI 10.67
Fair
Fair
Fair
10.58 11.64 11.29
+0.05 σ
-0.61 σ
-0.37 σ
18 Jul
South Africa EZA 10.59
Fair
Fair
Fair
10.06 12.39 11.58
+0.58 σ
-0.86 σ
-0.62 σ
18 Jul
Spain EWP 10.59
Fair
Undervalued
Fair
11.68 12.26 11.67
-0.66 σ
-1.21 σ
-0.72 σ
18 Jul
Poland EPOL 10.00
Fair
Fair
Undervalued
9.96 11.22 11.53
+0.02 σ
-0.86 σ
-1.25 σ
18 Jul
Qatar QAT 9.61
Cheap
-
-
14.12 - -
-2.55 σ
-
-
18 Jul
China FXI 8.97
Undervalued
Undervalued
Undervalued
11.27 11.03 11.07
-1.15 σ
-1.40 σ
-1.26 σ
18 Jul
Malaysia EWM 8.66
Cheap
Cheap
Cheap
14.54 15.09 14.54
-6.53 σ
-9.04 σ
-6.75 σ
18 Jul
Turkey TUR 8.04
Expensive
Overvalued
Fair
5.50 6.65 8.15
+3.78 σ
+1.12 σ
-0.07 σ
18 Jul
Austria EWO 7.71
Fair
Undervalued
Undervalued
8.33 9.83 10.16
-0.33 σ
-1.17 σ
-1.46 σ
18 Jul
Brazil EWZ 7.60
Fair
Undervalued
Undervalued
8.75 10.24 9.70
-0.53 σ
-1.44 σ
-1.27 σ
18 Jul
Greece GREK 6.83
Undervalued
Cheap
Cheap
10.75 11.61 11.47
-1.79 σ
-2.60 σ
-2.06 σ
18 Jul
Colombia GXG 5.86
Undervalued
Undervalued
Cheap
8.08 10.54 13.39
-1.02 σ
-1.95 σ
-2.69 σ
18 Jul
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).