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 31.46
Fair
Overvalued
Expensive
 27.84 26.46 20.50
+0.76 σ
+1.17 σ
+2.07 σ
 +0.16% 04:00 PM
VTI United States 25.07
Overvalued
Expensive
Expensive
 21.93 19.17 16.35
+1.67 σ
+2.50 σ
+3.46 σ
 +5.79% 04:00 PM
INDA India 24.90
Overvalued
Expensive
Expensive
 22.84 20.11 17.62
+1.80 σ
+2.02 σ
+2.75 σ
 +4.30% 04:00 PM
EWL Switzerland 22.60
Overvalued
Expensive
Expensive
 19.06 17.71 15.60
+1.88 σ
+3.61 σ
+3.47 σ
 +7.67% 04:00 PM
EWC Canada 21.23
Expensive
Expensive
Expensive
 15.24 14.95 14.29
+3.29 σ
+5.38 σ
+6.46 σ
 +10.22% 04:00 PM
EWD Sweden 20.45
Expensive
Expensive
Expensive
 16.14 15.73 14.70
+2.21 σ
+3.68 σ
+4.04 σ
 +9.22% 04:00 PM
EWA Australia 19.45
Overvalued
Expensive
Expensive
 16.96 16.06 14.64
+1.16 σ
+2.37 σ
+3.43 σ
 +4.85% 04:00 PM
EWG Germany 18.67
Expensive
Expensive
Expensive
 13.89 13.30 12.33
+2.68 σ
+4.71 σ
+5.45 σ
 +18.19% 04:00 PM
EWQ France 18.39
Overvalued
Expensive
Expensive
 16.36 15.05 13.15
+1.15 σ
+2.21 σ
+2.81 σ
 +8.83% 04:00 PM
EWU United Kingdom 17.75
Expensive
Expensive
Expensive
 12.57 13.19 12.18
+2.61 σ
+3.08 σ
+3.78 σ
 +8.02% 04:00 PM
EWN Netherlands 17.35
Fair
Fair
Overvalued
 18.76 16.76 14.10
-0.49 σ
+0.30 σ
+1.41 σ
 +12.99% 04:00 PM
EWK Belgium 17.16
Fair
Fair
Fair
 16.35 16.88 14.62
+0.28 σ
+0.14 σ
+0.99 σ
 +10.56% 03:59 PM
EWT Taiwan 16.44
Fair
Overvalued
Overvalued
 15.84 14.47 13.80
+0.28 σ
+1.14 σ
+1.75 σ
 +9.52% 04:00 PM
VNM Vietnam 16.20
Fair
-
-
 15.83 - -
+0.12 σ
-
-
 +12.86% 04:00 PM
EWJ Japan 15.48
Fair
Overvalued
Fair
 14.96 14.07 14.43
+0.33 σ
+1.13 σ
+0.66 σ
 +7.54% 04:00 PM
EWH Hong Kong 15.13
Fair
Fair
Fair
 15.34 15.06 15.16
-0.21 σ
+0.08 σ
-0.03 σ
 +12.57% 04:00 PM
EDEN Denmark 15.08
Fair
Undervalued
Fair
 18.51 18.49 16.54
-0.83 σ
-1.42 σ
-0.80 σ
 +1.03% 03:57 PM
EIS Israel 14.55
Overvalued
Expensive
Expensive
 11.60 11.13 10.97
+1.71 σ
+3.15 σ
+2.37 σ
 +24.15% 04:00 PM
EWS Singapore 14.34
Fair
Overvalued
Overvalued
 13.47 12.98 13.33
+0.74 σ
+1.41 σ
+1.16 σ
 +12.01% 04:00 PM
EWM Malaysia 14.15
Fair
Undervalued
Fair
 14.44 15.07 14.63
-0.34 σ
-1.23 σ
-0.58 σ
 +0.06% 04:00 PM
EZA South Africa 13.84
Expensive
Fair
Overvalued
 10.31 12.21 11.78
+3.12 σ
+0.83 σ
+1.30 σ
 +12.32% 04:00 PM
EIRL Ireland 13.71
Fair
Undervalued
Fair
 16.39 15.79 16.11
-0.93 σ
-1.14 σ
-0.97 σ
 +7.78% 03:59 PM
THD Thailand 13.69
Cheap
Cheap
Fair
 18.73 17.85 15.67
-2.23 σ
-2.16 σ
-0.76 σ
 -13.93% 04:00 PM
EWI Italy 13.14
Overvalued
Overvalued
Overvalued
 10.64 11.44 11.16
+1.38 σ
+1.14 σ
+1.25 σ
 +18.40% 04:00 PM
EWW Mexico 12.68
Fair
Fair
Fair
 12.66 14.02 14.23
+0.02 σ
-0.77 σ
-0.88 σ
 +13.63% 04:00 PM
EPOL Poland 12.55
Overvalued
Overvalued
Fair
 10.09 10.99 11.48
+1.20 σ
+1.18 σ
+0.85 σ
 +26.14% 04:00 PM
ARGT Argentina 12.28
Fair
Fair
Fair
 12.12 11.99 10.49
+0.10 σ
+0.21 σ
+0.76 σ
 +3.60% 04:00 PM
ECH Chile 12.08
Fair
Fair
Undervalued
 10.44 13.16 14.67
+0.57 σ
-0.40 σ
-1.44 σ
 +11.63% 04:00 PM
EWP Spain 11.92
Fair
Fair
Fair
 11.53 11.86 11.54
+0.24 σ
+0.05 σ
+0.25 σ
 +21.19% 04:00 PM
NORW Norway 11.83
Fair
Fair
Fair
 11.13 12.52 11.55
+0.29 σ
-0.38 σ
+0.18 σ
 +12.47% 04:00 PM
EWY South Korea 11.61
Fair
Overvalued
Expensive
 10.50 10.02 9.79
+0.95 σ
+1.69 σ
+2.05 σ
 +23.02% 04:00 PM
QAT Qatar 11.53
Fair
-
-
 13.56 - -
-0.93 σ
-
-
 +2.43% 04:00 PM
EPU Perù 11.51
Fair
Fair
Fair
 12.42 12.62 12.41
-0.42 σ
-0.77 σ
-0.58 σ
 +12.39% 04:00 PM
EIDO Indonesia 11.20
Undervalued
Cheap
Undervalued
 13.52 14.31 13.61
-1.50 σ
-2.37 σ
-1.86 σ
 -6.49% 04:00 PM
EWO Austria 11.12
Overvalued
Fair
Fair
 8.30 9.56 9.95
+1.51 σ
+0.89 σ
+0.73 σ
 +22.59% 04:00 PM
EWZ Brazil 10.90
Expensive
Fair
Fair
 8.04 9.99 9.82
+2.02 σ
+0.48 σ
+0.70 σ
 +8.94% 04:00 PM
TUR Turkey 10.25
Expensive
Expensive
Overvalued
 5.47 6.40 7.94
+5.57 σ
+3.32 σ
+1.43 σ
 -5.57% 04:00 PM
GREK Greece 10.16
Fair
Fair
Fair
 9.79 11.19 11.14
+0.16 σ
-0.50 σ
-0.42 σ
 +29.20% 04:00 PM
FXI China 10.02
Fair
Fair
Fair
 10.95 11.06 11.02
-0.45 σ
-0.73 σ
-0.59 σ
 +11.16% 04:00 PM
EPHE Philippines 9.93
Undervalued
Cheap
Cheap
 13.90 15.59 15.29
-1.61 σ
-2.57 σ
-2.61 σ
 +3.00% 04:00 PM
GXG Colombia 8.12
Fair
Fair
Undervalued
 7.45 9.74 12.77
+0.36 σ
-0.68 σ
-1.58 σ
 +11.92% 27 Jun
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). Additionally, P/E values greater than 70 or lower than 1 are logarithmically normalized to reduce distortions.

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).