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
Trend Margin
Country P/E Ratio▾ 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years vs SMA-200 Time (ET)
ENZL New Zealand 35.16
Overvalued
Expensive
Expensive
 27.59 26.20 20.32
+1.64 σ
+2.13 σ
+2.86 σ
 -5.68% 17 Apr
EWL Switzerland 25.04
Expensive
Expensive
Expensive
 18.87 17.64 15.54
+3.63 σ
+5.93 σ
+4.76 σ
 +4.02% 17 Apr
VTI United States 23.70
Overvalued
Expensive
Expensive
 21.73 19.03 16.28
+1.06 σ
+2.06 σ
+3.04 σ
 -8.70% 17 Apr
INDA India 23.45
Fair
Overvalued
Expensive
 22.66 19.96 17.52
+0.66 σ
+1.49 σ
+2.26 σ
 -3.18% 17 Apr
EWA Australia 19.94
Overvalued
Expensive
Expensive
 16.83 15.99 14.59
+1.50 σ
+2.95 σ
+3.89 σ
 -5.44% 17 Apr
EWC Canada 19.76
Expensive
Expensive
Expensive
 15.11 14.94 14.26
+2.77 σ
+4.18 σ
+5.24 σ
 +1.27% 17 Apr
EWD Sweden 19.27
Overvalued
Expensive
Expensive
 16.07 15.69 14.66
+1.70 σ
+2.95 σ
+3.29 σ
 +2.77% 17 Apr
EWQ France 18.89
Overvalued
Expensive
Expensive
 16.21 15.02 13.10
+1.56 σ
+2.66 σ
+3.19 σ
 +1.86% 17 Apr
EWG Germany 18.82
Expensive
Expensive
Expensive
 13.79 13.28 12.30
+2.97 σ
+5.09 σ
+5.74 σ
 +11.88% 17 Apr
EWK Belgium 18.72
Fair
Fair
Overvalued
 16.22 16.86 14.54
+0.88 σ
+0.96 σ
+1.63 σ
 +4.14% 17 Apr
EWU United Kingdom 18.71
Expensive
Expensive
Expensive
 12.50 13.18 12.15
+3.33 σ
+3.76 σ
+4.54 σ
 +2.66% 17 Apr
EWN Netherlands 16.37
Fair
Fair
Overvalued
 18.82 16.77 14.04
-0.85 σ
-0.20 σ
+1.01 σ
 -2.37% 17 Apr
EWT Taiwan 15.89
Fair
Fair
Overvalued
 15.75 14.40 13.76
+0.06 σ
+0.86 σ
+1.42 σ
 -14.49% 17 Apr
THD Thailand 15.61
Undervalued
Undervalued
Fair
 18.85 17.91 15.62
-1.51 σ
-1.21 σ
-0.00 σ
 -12.70% 17 Apr
EDEN Denmark 15.40
Fair
Undervalued
Fair
 18.91 18.58 16.53
-0.82 σ
-1.33 σ
-0.61 σ
 -13.73% 17 Apr
EWH Hong Kong 15.39
Fair
Fair
Fair
 15.28 15.08 15.16
+0.11 σ
+0.35 σ
+0.25 σ
 -2.52% 17 Apr
EWJ Japan 15.32
Fair
Overvalued
Fair
 14.89 14.07 14.44
+0.27 σ
+1.00 σ
+0.56 σ
 -1.18% 17 Apr
EWS Singapore 14.84
Overvalued
Overvalued
Overvalued
 13.37 12.97 13.32
+1.26 σ
+1.98 σ
+1.75 σ
 +5.63% 17 Apr
EWM Malaysia 14.68
Fair
Fair
Fair
 14.48 15.08 14.62
+0.24 σ
-0.53 σ
+0.08 σ
 -6.27% 17 Apr
EZA South Africa 14.35
Expensive
Overvalued
Overvalued
 10.19 12.23 11.74
+4.21 σ
+1.06 σ
+1.65 σ
 +3.58% 17 Apr
VNM Vietnam 13.48
Fair
-
-
 15.96 - -
-0.79 σ
-
-
 -2.23% 17 Apr
ARGT Argentina 13.47
Fair
Overvalued
Overvalued
 12.10 11.90 10.47
+0.86 σ
+1.12 σ
+1.28 σ
 +14.60% 17 Apr
EWI Italy 13.31
Overvalued
Overvalued
Overvalued
 10.62 11.45 11.16
+1.50 σ
+1.23 σ
+1.35 σ
 +9.68% 17 Apr
EPU Perù 13.06
Fair
Fair
Fair
 12.34 12.63 12.42
+0.32 σ
+0.30 σ
+0.41 σ
 +3.38% 17 Apr
ECH Chile 12.98
Fair
Fair
Fair
 10.41 13.22 14.70
+0.91 σ
-0.09 σ
-0.96 σ
 +11.82% 17 Apr
EPOL Poland 12.83
Overvalued
Overvalued
Overvalued
 10.02 11.00 11.48
+1.41 σ
+1.36 σ
+1.08 σ
 +17.46% 17 Apr
EIS Israel 12.76
Fair
Overvalued
Overvalued
 11.50 11.10 10.98
+0.74 σ
+1.58 σ
+1.17 σ
 +5.17% 17 Apr
NORW Norway 12.49
Fair
Fair
Fair
 11.28 12.54 11.54
+0.47 σ
-0.02 σ
+0.60 σ
 +2.36% 17 Apr
EIRL Ireland 12.41
Undervalued
Undervalued
Undervalued
 16.68 15.90 16.12
-1.47 σ
-1.91 σ
-1.50 σ
 -7.14% 17 Apr
EWP Spain 12.17
Fair
Fair
Fair
 11.61 11.91 11.55
+0.33 σ
+0.20 σ
+0.42 σ
 +15.66% 17 Apr
EWW Mexico 11.97
Fair
Undervalued
Undervalued
 12.67 14.12 14.22
-0.66 σ
-1.19 σ
-1.27 σ
 +4.65% 17 Apr
QAT Qatar 11.88
Fair
-
-
 13.63 - -
-0.82 σ
-
-
 -0.93% 17 Apr
EIDO Indonesia 11.64
Undervalued
Cheap
Undervalued
 13.55 14.37 13.59
-1.24 σ
-2.13 σ
-1.47 σ
 -17.50% 17 Apr
EWO Austria 11.17
Overvalued
Fair
Fair
 8.25 9.58 9.96
+1.59 σ
+0.89 σ
+0.75 σ
 +12.57% 17 Apr
TUR Turkey 10.47
Expensive
Expensive
Overvalued
 5.41 6.40 7.94
+6.54 σ
+3.51 σ
+1.55 σ
 -12.14% 17 Apr
EWZ Brazil 10.28
Overvalued
Fair
Fair
 8.08 10.03 9.78
+1.47 σ
+0.13 σ
+0.32 σ
 -5.98% 17 Apr
EPHE Philippines 10.22
Undervalued
Cheap
Cheap
 13.98 15.75 15.30
-1.54 σ
-2.61 σ
-2.50 σ
 -2.83% 17 Apr
FXI China 10.21
Fair
Fair
Fair
 11.01 11.08 11.02
-0.38 σ
-0.61 σ
-0.48 σ
 +5.51% 17 Apr
EWY South Korea 9.60
Fair
Fair
Fair
 10.54 10.02 9.78
-0.80 σ
-0.45 σ
-0.20 σ
 -8.14% 17 Apr
GREK Greece 9.42
Fair
Fair
Fair
 9.86 11.17 11.19
-0.20 σ
-0.84 σ
-0.76 σ
 +12.57% 17 Apr
GXG Colombia 7.88
Fair
Fair
Undervalued
 7.42 9.85 12.87
+0.24 σ
-0.82 σ
-1.70 σ
 +8.17% 17 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).