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 28.64
Fair
Fair
Overvalued
27.04 25.14 19.45
+0.38 σ
+0.82 σ
+1.89 σ
22 Apr
India INDA 24.43
Overvalued
Expensive
Expensive
21.41 19.12 16.92
+1.88 σ
+2.54 σ
+3.07 σ
22 Apr
United States VTI 22.83
Overvalued
Expensive
Expensive
20.09 18.20 15.93
+1.42 σ
+2.46 σ
+3.48 σ
22 Apr
Argentina ARGT 20.83
Expensive
Expensive
Expensive
11.85 11.21 10.22
+7.74 σ
+5.70 σ
+4.94 σ
22 Apr
Australia EWA 19.17
Expensive
Expensive
Expensive
15.97 15.48 14.42
+2.19 σ
+3.92 σ
+3.91 σ
22 Apr
Denmark EDEN 18.65
Fair
Fair
Overvalued
19.46 18.47 16.32
-0.19 σ
+0.08 σ
+1.31 σ
22 Apr
Taiwan EWT 18.32
Overvalued
Expensive
Expensive
15.03 13.89 13.40
+1.98 σ
+3.40 σ
+3.91 σ
22 Apr
France EWQ 17.50
Overvalued
Expensive
Expensive
15.23 14.56 12.93
+1.31 σ
+2.48 σ
+2.88 σ
22 Apr
Thailand THD 17.31
Fair
Fair
Fair
19.01 17.81 15.22
-0.86 σ
-0.25 σ
+0.73 σ
22 Apr
Switzerland EWL 16.58
Undervalued
Fair
Fair
18.16 17.28 15.30
-1.20 σ
-0.65 σ
+0.70 σ
22 Apr
Canada EWC 16.52
Expensive
Overvalued
Expensive
14.25 14.70 14.13
+2.06 σ
+1.90 σ
+2.55 σ
22 Apr
Malaysia EWM 15.61
Overvalued
Fair
Overvalued
14.59 15.10 14.52
+1.15 σ
+0.73 σ
+1.25 σ
22 Apr
Ireland EIRL 15.28
Fair
Fair
Fair
16.70 16.27 16.05
-0.49 σ
-0.53 σ
-0.30 σ
22 Apr
Japan EWJ 15.11
Fair
Overvalued
Fair
14.29 13.84 14.51
+0.53 σ
+1.20 σ
+0.37 σ
22 Apr
Vietnam VNM 14.79
Fair
-
-
16.73 - -
-0.62 σ
-
-
22 Apr
Netherlands EWN 14.70
Undervalued
Fair
Fair
18.89 16.65 13.84
-1.51 σ
-0.96 σ
+0.38 σ
22 Apr
Hong Kong EWH 14.59
Fair
Fair
Fair
15.15 15.02 15.19
-0.51 σ
-0.48 σ
-0.63 σ
22 Apr
Sweden EWD 14.59
Fair
Undervalued
Fair
15.98 15.75 14.62
-0.78 σ
-1.03 σ
-0.02 σ
22 Apr
Perù EPU 14.46
Overvalued
Overvalued
Overvalued
11.79 12.49 12.43
+1.56 σ
+1.50 σ
+1.25 σ
22 Apr
Germany EWG 12.79
Fair
Fair
Fair
13.20 13.00 12.23
-0.28 σ
-0.23 σ
+0.53 σ
22 Apr
United Kingdom EWU 12.70
Fair
Fair
Fair
11.80 13.02 12.17
+0.72 σ
-0.25 σ
+0.36 σ
22 Apr
Belgium EWK 12.50
Undervalued
Cheap
Fair
16.00 16.94 14.28
-1.24 σ
-2.39 σ
-0.70 σ
22 Apr
South Korea EWY 12.25
Overvalued
Expensive
Expensive
10.49 9.85 9.61
+1.74 σ
+2.96 σ
+2.93 σ
22 Apr
Israel EIS 12.04
Fair
Overvalued
Fair
10.90 10.83 11.05
+0.73 σ
+1.44 σ
+0.60 σ
22 Apr
Mexico EWW 11.92
Undervalued
Undervalued
Undervalued
13.00 14.85 14.26
-1.20 σ
-1.54 σ
-1.35 σ
22 Apr
Indonesia EIDO 11.51
Cheap
Cheap
Undervalued
14.19 14.66 13.49
-2.01 σ
-3.31 σ
-1.34 σ
22 Apr
Singapore EWS 11.21
Undervalued
Cheap
Cheap
13.23 13.03 13.34
-1.73 σ
-2.04 σ
-2.55 σ
22 Apr
Qatar QAT 10.99
Cheap
-
-
14.27 - -
-2.04 σ
-
-
22 Apr
Philippines EPHE 10.88
Cheap
Cheap
Cheap
15.10 16.64 15.32
-2.40 σ
-3.83 σ
-2.23 σ
22 Apr
Egypt EGPT 10.80
Expensive
Overvalued
Fair
7.17 8.50 9.25
+4.59 σ
+1.69 σ
+0.90 σ
04 Apr
South Africa EZA 10.11
Fair
Undervalued
Fair
10.11 12.49 11.55
+0.00 σ
-1.13 σ
-0.89 σ
22 Apr
Poland EPOL 10.09
Fair
Fair
Undervalued
10.02 11.32 11.57
+0.03 σ
-0.85 σ
-1.22 σ
22 Apr
Italy EWI 9.85
Fair
Undervalued
Fair
10.62 11.75 11.36
-0.43 σ
-1.19 σ
-0.88 σ
22 Apr
Spain EWP 9.28
Undervalued
Cheap
Undervalued
11.76 12.41 11.72
-1.55 σ
-2.21 σ
-1.63 σ
22 Apr
Norway NORW 8.98
Undervalued
Cheap
Undervalued
11.77 12.60 11.58
-1.07 σ
-2.09 σ
-1.67 σ
22 Apr
China FXI 8.54
Undervalued
Undervalued
Undervalued
11.40 11.02 11.11
-1.49 σ
-1.67 σ
-1.56 σ
22 Apr
Brazil EWZ 7.81
Fair
Undervalued
Undervalued
9.01 10.32 9.69
-0.54 σ
-1.43 σ
-1.12 σ
22 Apr
Greece GREK 7.67
Undervalued
Cheap
Undervalued
11.09 11.83 11.57
-1.66 σ
-2.38 σ
-1.77 σ
22 Apr
Chile ECH 7.03
Undervalued
Cheap
Cheap
11.14 13.72 14.98
-1.26 σ
-2.55 σ
-5.17 σ
22 Apr
Austria EWO 7.00
Fair
Undervalued
Undervalued
8.46 9.95 10.25
-0.78 σ
-1.67 σ
-1.94 σ
22 Apr
Turkey TUR 6.50
Overvalued
Fair
Undervalued
5.49 6.73 8.22
+1.59 σ
-0.18 σ
-1.02 σ
22 Apr
Colombia GXG 5.48
Undervalued
Cheap
Cheap
8.36 10.82 13.57
-1.33 σ
-2.25 σ
-2.92 σ
22 Apr
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).