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 33.97
Overvalued
Overvalued
Expensive
27.51 26.04 20.18
+1.42 σ
+1.88 σ
+2.68 σ
07 Feb
United States VTI 26.00
Expensive
Expensive
Expensive
21.42 18.89 16.21
+2.51 σ
+3.26 σ
+4.13 σ
07 Feb
India INDA 23.88
Overvalued
Overvalued
Expensive
22.53 19.86 17.42
+1.05 σ
+1.75 σ
+2.50 σ
07 Feb
Switzerland EWL 22.59
Expensive
Expensive
Expensive
18.63 17.57 15.50
+2.51 σ
+4.38 σ
+3.62 σ
07 Feb
Australia EWA 20.85
Expensive
Expensive
Expensive
16.66 15.94 14.56
+2.04 σ
+3.87 σ
+4.68 σ
07 Feb
Canada EWC 19.05
Expensive
Expensive
Expensive
14.90 14.93 14.24
+2.62 σ
+3.60 σ
+4.68 σ
07 Feb
France EWQ 19.00
Overvalued
Expensive
Expensive
16.00 14.97 13.06
+1.68 σ
+2.89 σ
+3.37 σ
07 Feb
Taiwan EWT 18.35
Overvalued
Expensive
Expensive
15.68 14.30 13.70
+1.24 σ
+2.39 σ
+3.18 σ
07 Feb
Germany EWG 17.69
Expensive
Expensive
Expensive
13.61 13.26 12.28
+2.44 σ
+4.22 σ
+4.86 σ
07 Feb
United Kingdom EWU 17.26
Expensive
Expensive
Expensive
12.28 13.18 12.15
+2.83 σ
+2.78 σ
+3.55 σ
07 Feb
Denmark EDEN 16.82
Fair
Fair
Fair
19.19 18.64 16.52
-0.55 σ
-0.77 σ
+0.16 σ
07 Feb
Argentina ARGT 16.51
Expensive
Expensive
Expensive
11.98 11.77 10.43
+3.27 σ
+3.47 σ
+2.66 σ
07 Feb
Japan EWJ 15.87
Fair
Overvalued
Fair
14.83 14.07 14.45
+0.63 σ
+1.45 σ
+0.89 σ
07 Feb
Sweden EWD 15.77
Fair
Fair
Fair
15.91 15.67 14.63
-0.08 σ
+0.08 σ
+0.83 σ
07 Feb
Malaysia EWM 15.60
Overvalued
Fair
Overvalued
14.47 15.10 14.61
+1.26 σ
+0.68 σ
+1.17 σ
07 Feb
Thailand THD 15.20
Undervalued
Undervalued
Fair
18.89 17.98 15.58
-1.77 σ
-1.50 σ
-0.14 σ
07 Feb
Belgium EWK 15.16
Fair
Fair
Fair
16.05 16.89 14.50
-0.30 σ
-0.89 σ
+0.26 σ
07 Feb
Netherlands EWN 14.92
Undervalued
Fair
Fair
18.86 16.80 14.02
-1.39 σ
-0.96 σ
+0.39 σ
07 Feb
Hong Kong EWH 14.86
Fair
Fair
Fair
15.24 15.07 15.17
-0.37 σ
-0.24 σ
-0.33 σ
07 Feb
Vietnam VNM 14.65
Fair
-
-
16.13 - -
-0.48 σ
-
-
07 Feb
Singapore EWS 14.57
Overvalued
Overvalued
Overvalued
13.27 12.95 13.31
+1.09 σ
+1.75 σ
+1.47 σ
07 Feb
Ireland EIRL 14.40
Fair
Fair
Fair
16.72 16.00 16.12
-0.81 σ
-0.87 σ
-0.70 σ
07 Feb
Perù EPU 14.21
Fair
Overvalued
Overvalued
12.24 12.63 12.45
+0.87 σ
+1.09 σ
+1.10 σ
07 Feb
Israel EIS 14.00
Overvalued
Expensive
Overvalued
11.35 11.05 10.98
+1.54 σ
+2.92 σ
+1.97 σ
07 Feb
South Africa EZA 13.59
Expensive
Fair
Overvalued
10.06 12.29 11.71
+3.84 σ
+0.64 σ
+1.18 σ
07 Feb
Poland EPOL 12.04
Overvalued
Fair
Fair
9.90 11.02 11.48
+1.08 σ
+0.75 σ
+0.45 σ
07 Feb
Spain EWP 11.76
Fair
Fair
Fair
11.52 11.98 11.57
+0.13 σ
-0.17 σ
+0.12 σ
07 Feb
Mexico EWW 11.35
Undervalued
Undervalued
Undervalued
12.71 14.25 14.24
-1.32 σ
-1.59 σ
-1.65 σ
07 Feb
Chile ECH 11.34
Fair
Fair
Undervalued
10.41 13.29 14.75
+0.32 σ
-0.71 σ
-1.94 σ
07 Feb
Indonesia EIDO 11.15
Undervalued
Cheap
Undervalued
13.60 14.45 13.59
-1.63 σ
-2.71 σ
-1.85 σ
07 Feb
Qatar QAT 11.00
Undervalued
-
-
13.72 - -
-1.30 σ
-
-
07 Feb
Italy EWI 10.95
Fair
Fair
Fair
10.54 11.49 11.18
+0.23 σ
-0.35 σ
-0.14 σ
07 Feb
Norway NORW 10.47
Fair
Undervalued
Fair
11.32 12.55 11.55
-0.33 σ
-1.16 σ
-0.69 σ
07 Feb
China FXI 10.46
Fair
Fair
Fair
11.06 11.08 11.03
-0.29 σ
-0.43 σ
-0.34 σ
07 Feb
Philippines EPHE 10.06
Undervalued
Cheap
Cheap
14.06 15.91 15.32
-1.68 σ
-2.88 σ
-2.63 σ
07 Feb
Austria EWO 9.39
Fair
Fair
Fair
8.16 9.63 9.99
+0.67 σ
-0.14 σ
-0.37 σ
07 Feb
South Korea EWY 9.31
Undervalued
Fair
Fair
10.54 10.02 9.76
-1.03 σ
-0.76 σ
-0.50 σ
07 Feb
Brazil EWZ 8.29
Fair
Fair
Fair
8.15 10.06 9.76
+0.09 σ
-0.93 σ
-0.92 σ
07 Feb
Greece GREK 7.90
Fair
Undervalued
Undervalued
9.92 11.20 11.25
-0.87 σ
-1.60 σ
-1.43 σ
07 Feb
Colombia GXG 7.04
Fair
Undervalued
Cheap
7.41 10.00 12.97
-0.19 σ
-1.20 σ
-2.03 σ
07 Feb
Turkey TUR 4.69
Fair
Undervalued
Cheap
5.40 6.44 7.98
-0.94 σ
-1.50 σ
-2.01 σ
07 Feb
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).