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 27.34
Fair
Fair
Overvalued
 27.16 25.39 19.67
+0.04 σ
+0.46 σ
+1.55 σ
 26 Jul
United States VTI 25.02
Expensive
Expensive
Expensive
 20.47 18.40 16.00
+2.44 σ
+3.36 σ
+4.30 σ
 26 Jul
India INDA 24.11
Overvalued
Expensive
Expensive
 21.77 19.34 17.07
+1.53 σ
+2.22 σ
+2.82 σ
 26 Jul
Australia EWA 20.22
Expensive
Expensive
Expensive
 16.20 15.59 14.46
+2.43 σ
+4.58 σ
+4.61 σ
 26 Jul
Denmark EDEN 19.64
Fair
Fair
Overvalued
 19.47 18.53 16.39
+0.04 σ
+0.47 σ
+1.80 σ
 26 Jul
France EWQ 19.15
Expensive
Expensive
Expensive
 15.46 14.68 12.95
+2.07 σ
+3.51 σ
+3.84 σ
 26 Jul
Switzerland EWL 19.02
Fair
Overvalued
Overvalued
 18.19 17.31 15.33
+0.64 σ
+1.63 σ
+1.99 σ
 26 Jul
Taiwan EWT 18.51
Overvalued
Expensive
Expensive
 15.25 13.99 13.48
+1.78 σ
+3.19 σ
+3.82 σ
 26 Jul
Thailand THD 17.84
Fair
Fair
Fair
 19.00 17.89 15.32
-0.59 σ
-0.02 σ
+0.89 σ
 26 Jul
Canada EWC 17.55
Expensive
Expensive
Expensive
 14.41 14.75 14.15
+2.53 σ
+2.77 σ
+3.52 σ
 26 Jul
Ireland EIRL 16.80
Fair
Fair
Fair
 16.76 16.16 16.07
+0.02 σ
+0.35 σ
+0.30 σ
 26 Jul
Belgium EWK 16.71
Fair
Fair
Fair
 15.94 16.87 14.32
+0.27 σ
-0.08 σ
+0.94 σ
 26 Jul
Japan EWJ 16.42
Overvalued
Expensive
Overvalued
 14.51 13.93 14.48
+1.25 σ
+2.24 σ
+1.23 σ
 26 Jul
Netherlands EWN 16.28
Fair
Fair
Overvalued
 18.92 16.70 13.89
-0.96 σ
-0.21 σ
+1.05 σ
 26 Jul
Perù EPU 16.27
Expensive
Expensive
Expensive
 11.87 12.54 12.48
+2.42 σ
+2.74 σ
+2.31 σ
 26 Jul
United Kingdom EWU 16.01
Expensive
Expensive
Expensive
 11.86 13.03 12.15
+3.14 σ
+2.25 σ
+2.68 σ
 26 Jul
Vietnam VNM 15.26
Fair
-
-
 16.53 - -
-0.41 σ
-
-
 26 Jul
Hong Kong EWH 14.95
Fair
Fair
Fair
 15.13 15.03 15.18
-0.17 σ
-0.09 σ
-0.25 σ
 26 Jul
Germany EWG 14.87
Overvalued
Expensive
Expensive
 13.27 13.03 12.22
+1.08 σ
+2.04 σ
+2.53 σ
 26 Jul
Sweden EWD 14.42
Fair
Undervalued
Fair
 15.97 15.72 14.61
-0.86 σ
-1.14 σ
-0.13 σ
 26 Jul
Argentina ARGT 12.84
Fair
Fair
Overvalued
 11.85 11.37 10.27
+0.85 σ
+0.93 σ
+1.18 σ
 26 Jul
Israel EIS 12.37
Fair
Overvalued
Fair
 10.97 10.88 11.01
+0.89 σ
+1.72 σ
+0.86 σ
 26 Jul
Mexico EWW 12.15
Fair
Undervalued
Undervalued
 12.96 14.67 14.26
-0.88 σ
-1.34 σ
-1.22 σ
 26 Jul
Indonesia EIDO 12.10
Undervalued
Cheap
Fair
 13.99 14.59 13.51
-1.29 σ
-2.32 σ
-0.98 σ
 26 Jul
Singapore EWS 11.87
Undervalued
Undervalued
Undervalued
 13.19 12.97 13.31
-1.10 σ
-1.21 σ
-1.69 σ
 26 Jul
Chile ECH 11.80
Fair
Fair
Undervalued
 10.84 13.55 14.88
+0.30 σ
-0.64 σ
-1.88 σ
 26 Jul
Norway NORW 11.24
Fair
Fair
Fair
 11.63 12.56 11.56
-0.15 σ
-0.74 σ
-0.21 σ
 26 Jul
South Korea EWY 11.08
Fair
Overvalued
Overvalued
 10.58 9.94 9.67
+0.46 σ
+1.31 σ
+1.54 σ
 26 Jul
Philippines EPHE 10.88
Undervalued
Cheap
Cheap
 14.78 16.44 15.32
-1.93 σ
-3.33 σ
-2.23 σ
 26 Jul
South Africa EZA 10.72
Fair
Fair
Fair
 10.06 12.39 11.58
+0.72 σ
-0.80 σ
-0.54 σ
 26 Jul
Spain EWP 10.65
Fair
Undervalued
Fair
 11.68 12.26 11.67
-0.62 σ
-1.16 σ
-0.68 σ
 26 Jul
Italy EWI 10.62
Fair
Fair
Fair
 10.58 11.64 11.29
+0.02 σ
-0.64 σ
-0.40 σ
 26 Jul
Qatar QAT 9.74
Cheap
-
-
 14.12 - -
-2.48 σ
-
-
 26 Jul
Poland EPOL 9.74
Fair
Undervalued
Undervalued
 9.96 11.22 11.53
-0.11 σ
-1.05 σ
-1.47 σ
 26 Jul
China FXI 8.80
Undervalued
Undervalued
Undervalued
 11.27 11.03 11.07
-1.24 σ
-1.52 σ
-1.36 σ
 26 Jul
Malaysia EWM 8.60
Cheap
Cheap
Cheap
 14.54 15.09 14.54
-6.59 σ
-9.12 σ
-6.81 σ
 26 Jul
Turkey TUR 7.92
Expensive
Overvalued
Fair
 5.50 6.65 8.15
+3.59 σ
+1.02 σ
-0.14 σ
 26 Jul
Austria EWO 7.66
Fair
Undervalued
Undervalued
 8.33 9.83 10.16
-0.35 σ
-1.19 σ
-1.48 σ
 26 Jul
Brazil EWZ 7.51
Fair
Undervalued
Undervalued
 8.75 10.24 9.70
-0.58 σ
-1.50 σ
-1.32 σ
 26 Jul
Greece GREK 6.94
Undervalued
Cheap
Cheap
 10.75 11.61 11.47
-1.74 σ
-2.54 σ
-2.02 σ
 26 Jul
Colombia GXG 5.84
Undervalued
Undervalued
Cheap
 8.08 10.54 13.39
-1.03 σ
-1.95 σ
-2.70 σ
 26 Jul
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).