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
New Zealand ENZL 29.56
Fair
Overvalued
Expensive
 27.08 25.22 19.53
+0.58 σ
+1.02 σ
+2.05 σ
 03 May
United States VTI 24.96
Expensive
Expensive
Expensive
 20.22 18.26 15.95
+2.49 σ
+3.50 σ
+4.46 σ
 03 May
India INDA 24.83
Expensive
Expensive
Expensive
 21.52 19.19 16.97
+2.09 σ
+2.67 σ
+3.19 σ
 03 May
Argentina ARGT 22.89
Expensive
Expensive
Expensive
 11.86 11.27 10.23
+9.46 σ
+7.02 σ
+5.86 σ
 03 May
Australia EWA 19.58
Expensive
Expensive
Expensive
 16.04 15.51 14.43
+2.33 σ
+4.25 σ
+4.20 σ
 03 May
Taiwan EWT 19.43
Expensive
Expensive
Expensive
 15.10 13.93 13.42
+2.52 σ
+4.12 σ
+4.69 σ
 03 May
Denmark EDEN 18.84
Fair
Fair
Overvalued
 19.45 18.49 16.34
-0.14 σ
+0.15 σ
+1.40 σ
 03 May
Thailand THD 17.97
Fair
Fair
Fair
 19.02 17.84 15.25
-0.54 σ
+0.07 σ
+0.95 σ
 03 May
France EWQ 17.68
Overvalued
Expensive
Expensive
 15.30 14.61 12.94
+1.36 σ
+2.54 σ
+2.98 σ
 03 May
Switzerland EWL 16.65
Undervalued
Fair
Fair
 18.16 17.28 15.30
-1.14 σ
-0.60 σ
+0.74 σ
 03 May
Canada EWC 16.62
Expensive
Overvalued
Expensive
 14.29 14.71 14.13
+2.03 σ
+1.95 σ
+2.63 σ
 03 May
Hong Kong EWH 16.45
Overvalued
Overvalued
Overvalued
 15.15 15.03 15.19
+1.21 σ
+1.64 σ
+1.35 σ
 03 May
Malaysia EWM 16.16
Overvalued
Overvalued
Overvalued
 14.59 15.11 14.53
+1.78 σ
+1.53 σ
+1.88 σ
 03 May
Ireland EIRL 15.71
Fair
Fair
Fair
 16.72 16.22 16.06
-0.35 σ
-0.28 σ
-0.14 σ
 03 May
Japan EWJ 15.58
Fair
Overvalued
Fair
 14.35 13.87 14.49
+0.80 σ
+1.62 σ
+0.68 σ
 03 May
Netherlands EWN 15.25
Undervalued
Fair
Fair
 18.88 16.66 13.84
-1.30 σ
-0.70 σ
+0.61 σ
 03 May
Vietnam VNM 15.07
Fair
-
-
 16.63 - -
-0.50 σ
-
-
 03 May
Perù EPU 14.97
Overvalued
Overvalued
Overvalued
 11.80 12.51 12.46
+1.83 σ
+1.84 σ
+1.55 σ
 03 May
Sweden EWD 14.86
Fair
Fair
Fair
 15.96 15.74 14.61
-0.61 σ
-0.78 σ
+0.19 σ
 03 May
United Kingdom EWU 13.23
Overvalued
Fair
Fair
 11.80 13.02 12.16
+1.13 σ
+0.16 σ
+0.73 σ
 03 May
Germany EWG 13.03
Fair
Fair
Fair
 13.21 13.00 12.23
-0.12 σ
+0.04 σ
+0.77 σ
 03 May
Belgium EWK 12.82
Undervalued
Cheap
Fair
 15.92 16.89 14.28
-1.08 σ
-2.14 σ
-0.57 σ
 03 May
South Korea EWY 12.74
Expensive
Expensive
Expensive
 10.52 9.88 9.63
+2.14 σ
+3.46 σ
+3.43 σ
 03 May
Israel EIS 12.26
Fair
Overvalued
Fair
 10.92 10.84 11.04
+0.86 σ
+1.67 σ
+0.76 σ
 03 May
Mexico EWW 12.14
Fair
Undervalued
Undervalued
 12.97 14.79 14.26
-0.91 σ
-1.39 σ
-1.22 σ
 03 May
Singapore EWS 11.68
Undervalued
Undervalued
Undervalued
 13.20 13.01 13.32
-1.27 σ
-1.47 σ
-1.96 σ
 03 May
Indonesia EIDO 11.64
Undervalued
Cheap
Undervalued
 14.12 14.63 13.50
-1.80 σ
-3.02 σ
-1.27 σ
 03 May
Philippines EPHE 11.35
Undervalued
Cheap
Undervalued
 15.00 16.58 15.32
-1.98 σ
-3.35 σ
-1.99 σ
 03 May
Qatar QAT 11.10
Undervalued
-
-
 14.23 - -
-1.89 σ
-
-
 03 May
South Africa EZA 10.97
Fair
Fair
Fair
 10.07 12.46 11.56
+0.97 σ
-0.71 σ
-0.36 σ
 03 May
Egypt EGPT 10.80
Expensive
Overvalued
Fair
 7.17 8.50 9.25
+4.59 σ
+1.69 σ
+0.90 σ
 04 Apr
Poland EPOL 10.28
Fair
Fair
Undervalued
 9.99 11.29 11.55
+0.15 σ
-0.70 σ
-1.05 σ
 03 May
Italy EWI 9.89
Fair
Undervalued
Fair
 10.60 11.71 11.33
-0.40 σ
-1.13 σ
-0.85 σ
 03 May
China FXI 9.55
Fair
Fair
Fair
 11.34 11.02 11.08
-0.91 σ
-0.99 σ
-0.93 σ
 03 May
Spain EWP 9.36
Undervalued
Cheap
Undervalued
 11.73 12.35 11.70
-1.45 σ
-2.12 σ
-1.56 σ
 03 May
Norway NORW 9.27
Fair
Undervalued
Undervalued
 11.68 12.58 11.56
-0.91 σ
-1.87 σ
-1.46 σ
 03 May
Brazil EWZ 8.14
Fair
Undervalued
Fair
 8.94 10.30 9.70
-0.36 σ
-1.22 σ
-0.93 σ
 03 May
Greece GREK 7.96
Undervalued
Cheap
Undervalued
 10.99 11.76 11.54
-1.44 σ
-2.14 σ
-1.61 σ
 03 May
Chile ECH 7.38
Undervalued
Cheap
Cheap
 10.98 13.64 14.94
-1.11 σ
-2.32 σ
-4.75 σ
 03 May
Austria EWO 7.16
Fair
Undervalued
Undervalued
 8.40 9.91 10.21
-0.66 σ
-1.53 σ
-1.82 σ
 03 May
Turkey TUR 7.05
Expensive
Fair
Fair
 5.51 6.71 8.20
+2.38 σ
+0.26 σ
-0.69 σ
 03 May
Colombia GXG 5.60
Undervalued
Cheap
Cheap
 8.25 10.72 13.51
-1.22 σ
-2.14 σ
-2.85 σ
 03 May
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).