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 30.35
Fair
Fair
Overvalued
 27.39 26.96 20.91
+0.70 σ
+0.82 σ
+1.73 σ
 +1.91% 28 Nov
VTI United States 27.94
Expensive
Expensive
Expensive
 22.26 19.59 16.54
+2.59 σ
+3.20 σ
+4.21 σ
 +10.86% 28 Nov
INDA India 24.96
Overvalued
Overvalued
Expensive
 22.99 20.44 17.86
+1.64 σ
+1.85 σ
+2.59 σ
 +3.27% 28 Nov
EWL Switzerland 22.49
Overvalued
Expensive
Expensive
 19.35 17.98 15.73
+1.51 σ
+2.83 σ
+3.22 σ
 +6.41% 28 Nov
EWA Australia 20.63
Overvalued
Expensive
Expensive
 17.03 16.30 14.75
+1.60 σ
+2.70 σ
+3.85 σ
 +0.60% 28 Nov
EWD Sweden 20.57
Expensive
Expensive
Expensive
 16.28 15.95 14.80
+2.00 σ
+3.21 σ
+3.83 σ
 +5.53% 28 Nov
VNM Vietnam 20.40
Overvalued
-
-
 15.85 - -
+1.46 σ
-
-
 +21.82% 28 Nov
EWC Canada 20.40
Expensive
Expensive
Expensive
 15.49 15.10 14.35
+2.28 σ
+3.86 σ
+5.29 σ
 +14.70% 28 Nov
EWT Taiwan 19.80
Overvalued
Expensive
Expensive
 15.88 14.74 13.92
+1.79 σ
+2.96 σ
+3.73 σ
 +13.43% 28 Nov
EWU United Kingdom 19.22
Expensive
Expensive
Expensive
 12.90 13.28 12.26
+2.59 σ
+3.69 σ
+4.47 σ
 +8.17% 28 Nov
EWQ France 19.18
Overvalued
Expensive
Expensive
 16.44 15.25 13.29
+1.50 σ
+2.42 σ
+2.98 σ
 +5.09% 28 Nov
EWN Netherlands 19.15
Fair
Overvalued
Expensive
 18.33 16.81 14.22
+0.28 σ
+1.20 σ
+2.13 σ
 +10.01% 28 Nov
EWG Germany 18.67
Expensive
Expensive
Expensive
 13.99 13.48 12.40
+2.43 σ
+3.95 σ
+5.02 σ
 +1.25% 28 Nov
EWK Belgium 18.60
Fair
Fair
Overvalued
 16.24 16.87 14.75
+0.84 σ
+0.89 σ
+1.50 σ
 +10.68% 28 Nov
EWH Hong Kong 18.00
Expensive
Expensive
Expensive
 15.41 15.14 15.19
+2.39 σ
+3.26 σ
+2.93 σ
 +12.43% 28 Nov
EWJ Japan 17.57
Overvalued
Expensive
Overvalued
 14.85 14.16 14.44
+1.90 σ
+2.60 σ
+1.96 σ
 +10.33% 28 Nov
ARGT Argentina 16.54
Expensive
Expensive
Expensive
 12.20 12.23 10.56
+2.55 σ
+3.59 σ
+2.51 σ
 +12.46% 28 Nov
EWS Singapore 16.22
Expensive
Expensive
Expensive
 13.55 13.12 13.35
+2.09 σ
+3.11 σ
+3.15 σ
 +8.26% 28 Nov
ECH Chile 15.04
Overvalued
Fair
Fair
 10.14 13.09 14.58
+1.99 σ
+0.71 σ
+0.25 σ
 +18.79% 28 Nov
EIRL Ireland 14.94
Fair
Fair
Fair
 15.63 15.64 16.13
-0.27 σ
-0.38 σ
-0.49 σ
 +11.94% 28 Nov
EWM Malaysia 14.91
Fair
Fair
Fair
 14.28 15.06 14.66
+0.87 σ
-0.20 σ
+0.31 σ
 +7.70% 28 Nov
EZA South Africa 14.91
Expensive
Overvalued
Overvalued
 10.43 12.09 11.84
+3.16 σ
+1.48 σ
+1.91 σ
 +21.21% 28 Nov
EDEN Denmark 14.89
Fair
Undervalued
Fair
 17.37 18.28 16.53
-0.69 σ
-1.31 σ
-0.88 σ
 +1.13% 28 Nov
EIS Israel 14.83
Overvalued
Expensive
Expensive
 11.80 11.24 10.98
+1.64 σ
+3.02 σ
+2.54 σ
 +16.27% 28 Nov
THD Thailand 14.70
Undervalued
Undervalued
Fair
 18.05 17.65 15.76
-1.38 σ
-1.49 σ
-0.42 σ
 +5.62% 28 Nov
EWY South Korea 14.36
Expensive
Expensive
Expensive
 10.43 10.12 9.86
+3.53 σ
+4.32 σ
+4.99 σ
 +29.09% 28 Nov
NORW Norway 14.29
Overvalued
Fair
Overvalued
 10.82 12.57 11.54
+1.74 σ
+0.96 σ
+1.76 σ
 +2.26% 28 Nov
EWO Austria 14.21
Expensive
Expensive
Expensive
 8.32 9.58 9.94
+3.10 σ
+2.61 σ
+2.69 σ
 +14.41% 28 Nov
EPU Perù 14.06
Overvalued
Fair
Overvalued
 12.09 12.66 12.32
+1.01 σ
+0.98 σ
+1.19 σ
 +26.79% 28 Nov
EWP Spain 13.89
Overvalued
Overvalued
Overvalued
 11.32 11.81 11.53
+1.96 σ
+1.77 σ
+1.59 σ
 +16.81% 28 Nov
TUR Turkey 13.33
Expensive
Expensive
Expensive
 5.70 6.40 7.94
+5.89 σ
+5.95 σ
+3.33 σ
 +0.81% 28 Nov
EWI Italy 13.28
Overvalued
Overvalued
Overvalued
 10.61 11.42 11.16
+1.51 σ
+1.26 σ
+1.34 σ
 +11.07% 28 Nov
EWW Mexico 12.99
Fair
Fair
Fair
 12.55 13.80 14.25
+0.47 σ
-0.50 σ
-0.72 σ
 +13.91% 28 Nov
EIDO Indonesia 12.83
Fair
Undervalued
Fair
 13.12 14.25 13.63
-0.20 σ
-1.02 σ
-0.64 σ
 +6.18% 28 Nov
EPOL Poland 12.47
Overvalued
Overvalued
Fair
 10.17 10.99 11.46
+1.09 σ
+1.12 σ
+0.82 σ
 +10.16% 28 Nov
QAT Qatar 11.90
Fair
-
-
 13.36 - -
-0.67 σ
-
-
 +0.06% 28 Nov
GREK Greece 11.74
Overvalued
Fair
Fair
 9.59 11.24 11.04
+1.04 σ
+0.25 σ
+0.31 σ
 +14.51% 28 Nov
EWZ Brazil 10.84
Expensive
Fair
Fair
 7.97 9.97 9.91
+2.28 σ
+0.47 σ
+0.63 σ
 +19.35% 28 Nov
FXI China 10.65
Fair
Fair
Fair
 10.53 11.12 11.03
+0.07 σ
-0.34 σ
-0.22 σ
 +5.55% 28 Nov
GXG Colombia 10.25
Overvalued
Fair
Fair
 7.32 9.52 12.57
+1.72 σ
+0.32 σ
-0.79 σ
 +23.26% 28 Nov
EPHE Philippines 9.47
Undervalued
Cheap
Cheap
 13.28 15.20 15.25
-1.44 σ
-2.37 σ
-2.74 σ
 -2.58% 28 Nov
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).