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
India INDA 26.88
Expensive
Expensive
Expensive
 22.13 19.56 17.22
+3.33 σ
+3.31 σ
+3.82 σ
 03 Oct
United States VTI 25.81
Expensive
Expensive
Expensive
 20.85 18.61 16.09
+2.72 σ
+3.50 σ
+4.39 σ
 03 Oct
New Zealand ENZL 25.43
Fair
Fair
Overvalued
 27.31 25.66 19.89
-0.43 σ
-0.05 σ
+1.10 σ
 03 Oct
Australia EWA 22.55
Expensive
Expensive
Expensive
 16.43 15.71 14.50
+3.33 σ
+6.04 σ
+6.26 σ
 03 Oct
Taiwan EWT 22.05
Expensive
Expensive
Expensive
 15.49 14.11 13.57
+3.26 σ
+5.16 σ
+6.18 σ
 03 Oct
Denmark EDEN 19.23
Fair
Fair
Overvalued
 19.52 18.61 16.47
-0.07 σ
+0.26 σ
+1.48 σ
 03 Oct
Switzerland EWL 18.72
Fair
Overvalued
Overvalued
 18.33 17.42 15.40
+0.29 σ
+1.22 σ
+1.75 σ
 03 Oct
Belgium EWK 18.69
Fair
Fair
Overvalued
 16.06 16.92 14.42
+0.90 σ
+0.92 σ
+1.67 σ
 03 Oct
France EWQ 18.62
Overvalued
Expensive
Expensive
 15.75 14.81 12.99
+1.60 σ
+2.82 σ
+3.36 σ
 03 Oct
Canada EWC 18.60
Expensive
Expensive
Expensive
 14.63 14.80 14.19
+2.86 σ
+3.56 σ
+4.45 σ
 03 Oct
Perù EPU 18.34
Expensive
Expensive
Expensive
 12.07 12.58 12.48
+3.00 σ
+4.08 σ
+3.57 σ
 03 Oct
Thailand THD 18.18
Fair
Fair
Fair
 19.02 18.00 15.45
-0.42 σ
+0.10 σ
+0.97 σ
 03 Oct
Netherlands EWN 17.79
Fair
Fair
Overvalued
 19.06 16.80 13.98
-0.48 σ
+0.50 σ
+1.64 σ
 03 Oct
Japan EWJ 17.56
Overvalued
Expensive
Overvalued
 14.80 14.03 14.49
+1.74 σ
+2.93 σ
+1.92 σ
 03 Oct
Hong Kong EWH 17.12
Overvalued
Expensive
Expensive
 15.20 15.05 15.19
+1.78 σ
+2.36 σ
+2.05 σ
 03 Oct
Malaysia EWM 16.70
Expensive
Expensive
Expensive
 14.50 15.09 14.57
+2.38 σ
+2.17 σ
+2.45 σ
 03 Oct
United Kingdom EWU 16.59
Expensive
Expensive
Expensive
 12.03 13.09 12.15
+3.10 σ
+2.52 σ
+3.09 σ
 03 Oct
Germany EWG 15.59
Overvalued
Expensive
Expensive
 13.45 13.12 12.25
+1.36 σ
+2.54 σ
+3.12 σ
 03 Oct
Vietnam VNM 15.48
Fair
-
-
 16.40 - -
-0.30 σ
-
-
 03 Oct
Ireland EIRL 15.45
Fair
Fair
Fair
 16.92 16.14 16.12
-0.53 σ
-0.38 σ
-0.27 σ
 03 Oct
Sweden EWD 15.17
Fair
Fair
Fair
 16.03 15.72 14.63
-0.48 σ
-0.48 σ
+0.40 σ
 03 Oct
South Africa EZA 14.16
Expensive
Fair
Overvalued
 10.05 12.36 11.65
+4.57 σ
+0.86 σ
+1.58 σ
 03 Oct
South Korea EWY 12.87
Overvalued
Expensive
Expensive
 10.67 10.00 9.73
+1.88 σ
+3.07 σ
+3.39 σ
 03 Oct
Singapore EWS 12.86
Fair
Fair
Fair
 13.22 12.95 13.31
-0.30 σ
-0.10 σ
-0.52 σ
 03 Oct
Mexico EWW 12.43
Fair
Undervalued
Undervalued
 12.92 14.50 14.27
-0.52 σ
-1.12 σ
-1.06 σ
 03 Oct
Israel EIS 12.41
Fair
Overvalued
Fair
 11.12 10.94 10.99
+0.80 σ
+1.62 σ
+0.92 σ
 03 Oct
Argentina ARGT 12.39
Fair
Fair
Fair
 11.85 11.53 10.32
+0.47 σ
+0.59 σ
+0.94 σ
 03 Oct
China FXI 12.33
Fair
Fair
Fair
 11.22 11.06 11.06
+0.54 σ
+0.87 σ
+0.76 σ
 03 Oct
Indonesia EIDO 12.29
Undervalued
Cheap
Fair
 13.84 14.54 13.55
-1.05 σ
-2.00 σ
-0.91 σ
 03 Oct
Norway NORW 11.74
Fair
Fair
Fair
 11.54 12.55 11.57
+0.07 σ
-0.46 σ
+0.11 σ
 03 Oct
Chile ECH 11.56
Fair
Fair
Undervalued
 10.68 13.45 14.85
+0.29 σ
-0.70 σ
-1.98 σ
 03 Oct
Italy EWI 11.26
Fair
Fair
Fair
 10.62 11.58 11.24
+0.36 σ
-0.20 σ
+0.01 σ
 03 Oct
Philippines EPHE 11.23
Undervalued
Cheap
Cheap
 14.48 16.22 15.32
-1.50 σ
-2.72 σ
-2.05 σ
 03 Oct
Qatar QAT 10.82
Undervalued
-
-
 13.95 - -
-1.63 σ
-
-
 03 Oct
Poland EPOL 10.22
Fair
Fair
Undervalued
 9.95 11.14 11.52
+0.14 σ
-0.67 σ
-1.06 σ
 03 Oct
Spain EWP 9.78
Undervalued
Undervalued
Undervalued
 11.64 12.14 11.63
-1.11 σ
-1.72 σ
-1.23 σ
 03 Oct
Brazil EWZ 8.44
Fair
Fair
Fair
 8.49 10.14 9.73
-0.03 σ
-0.91 σ
-0.79 σ
 03 Oct
Austria EWO 7.99
Fair
Fair
Undervalued
 8.27 9.72 10.08
-0.15 σ
-0.96 σ
-1.26 σ
 03 Oct
Turkey TUR 7.28
Expensive
Fair
Fair
 5.54 6.61 8.10
+2.43 σ
+0.57 σ
-0.51 σ
 03 Oct
Greece GREK 6.94
Undervalued
Cheap
Undervalued
 10.39 11.38 11.38
-1.52 σ
-2.31 σ
-1.93 σ
 03 Oct
Colombia GXG 5.96
Fair
Undervalued
Cheap
 7.80 10.28 13.20
-0.86 σ
-1.77 σ
-2.54 σ
 03 Oct
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).