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 34.44
Overvalued
Expensive
Expensive
 27.39 25.91 20.09
+1.58 σ
+2.05 σ
+2.82 σ
 17 Jan
United States VTI 27.34
Expensive
Expensive
Expensive
 21.28 18.82 16.18
+3.40 σ
+3.96 σ
+4.79 σ
 17 Jan
India INDA 24.21
Overvalued
Overvalued
Expensive
 22.45 19.79 17.37
+1.33 σ
+1.94 σ
+2.66 σ
 17 Jan
Switzerland EWL 21.49
Overvalued
Expensive
Expensive
 18.55 17.54 15.47
+1.98 σ
+3.55 σ
+3.10 σ
 17 Jan
Australia EWA 20.27
Overvalued
Expensive
Expensive
 16.61 15.88 14.55
+1.83 σ
+3.56 σ
+4.31 σ
 17 Jan
Canada EWC 18.55
Expensive
Expensive
Expensive
 14.83 14.91 14.23
+2.43 σ
+3.26 σ
+4.24 σ
 17 Jan
Taiwan EWT 18.36
Overvalued
Expensive
Expensive
 15.64 14.25 13.67
+1.28 σ
+2.48 σ
+3.27 σ
 17 Jan
France EWQ 18.35
Overvalued
Expensive
Expensive
 15.94 14.93 13.05
+1.36 σ
+2.48 σ
+3.04 σ
 17 Jan
Germany EWG 16.93
Expensive
Expensive
Expensive
 13.58 13.23 12.27
+2.05 σ
+3.63 σ
+4.23 σ
 17 Jan
United Kingdom EWU 16.54
Expensive
Expensive
Expensive
 12.22 13.16 12.15
+2.56 σ
+2.34 σ
+3.05 σ
 17 Jan
Argentina ARGT 16.43
Expensive
Expensive
Expensive
 11.91 11.70 10.40
+3.61 σ
+3.44 σ
+2.66 σ
 17 Jan
Denmark EDEN 16.29
Fair
Fair
Fair
 19.30 18.63 16.51
-0.70 σ
-0.99 σ
-0.12 σ
 17 Jan
Thailand THD 15.69
Undervalued
Undervalued
Fair
 18.92 18.01 15.56
-1.58 σ
-1.26 σ
+0.05 σ
 17 Jan
Japan EWJ 15.34
Fair
Overvalued
Fair
 14.81 14.05 14.45
+0.33 σ
+1.05 σ
+0.56 σ
 17 Jan
Malaysia EWM 15.26
Fair
Fair
Fair
 14.47 15.09 14.60
+0.87 σ
+0.22 σ
+0.77 σ
 17 Jan
Hong Kong EWH 15.03
Fair
Fair
Fair
 15.25 15.06 15.18
-0.21 σ
-0.03 σ
-0.15 σ
 17 Jan
Netherlands EWN 14.91
Undervalued
Fair
Fair
 18.92 16.80 14.00
-1.44 σ
-0.96 σ
+0.39 σ
 17 Jan
Sweden EWD 14.80
Fair
Fair
Fair
 15.92 15.68 14.62
-0.60 σ
-0.74 σ
+0.13 σ
 17 Jan
Belgium EWK 14.78
Fair
Undervalued
Fair
 16.08 16.91 14.48
-0.44 σ
-1.10 σ
+0.12 σ
 17 Jan
Vietnam VNM 14.54
Fair
-
-
 16.20 - -
-0.53 σ
-
-
 17 Jan
Israel EIS 14.06
Overvalued
Expensive
Expensive
 11.30 11.02 10.98
+1.63 σ
+3.09 σ
+2.01 σ
 17 Jan
Singapore EWS 14.02
Fair
Overvalued
Fair
 13.24 12.94 13.30
+0.66 σ
+1.18 σ
+0.84 σ
 17 Jan
Ireland EIRL 13.90
Undervalued
Undervalued
Fair
 16.77 16.04 16.12
-1.00 σ
-1.16 σ
-0.90 σ
 17 Jan
Perù EPU 13.73
Fair
Fair
Fair
 12.23 12.61 12.46
+0.66 σ
+0.77 σ
+0.78 σ
 17 Jan
South Africa EZA 12.76
Expensive
Fair
Fair
 10.06 12.31 11.70
+2.96 σ
+0.22 σ
+0.67 σ
 17 Jan
Indonesia EIDO 11.71
Undervalued
Cheap
Undervalued
 13.68 14.48 13.58
-1.31 σ
-2.34 σ
-1.41 σ
 17 Jan
Spain EWP 11.04
Fair
Fair
Fair
 11.53 12.01 11.58
-0.28 σ
-0.71 σ
-0.36 σ
 17 Jan
Poland EPOL 10.94
Fair
Fair
Fair
 9.88 11.03 11.48
+0.53 σ
-0.07 σ
-0.43 σ
 17 Jan
Qatar QAT 10.91
Undervalued
-
-
 13.78 - -
-1.39 σ
-
-
 17 Jan
Mexico EWW 10.63
Cheap
Cheap
Cheap
 12.78 14.32 14.25
-2.10 σ
-2.01 σ
-2.08 σ
 17 Jan
Italy EWI 10.63
Fair
Fair
Fair
 10.55 11.52 11.19
+0.04 σ
-0.57 σ
-0.35 σ
 17 Jan
Chile ECH 10.35
Fair
Undervalued
Cheap
 10.48 13.33 14.77
-0.04 σ
-1.08 σ
-2.55 σ
 17 Jan
Norway NORW 10.34
Fair
Undervalued
Fair
 11.37 12.55 11.56
-0.40 σ
-1.24 σ
-0.77 σ
 17 Jan
Philippines EPHE 10.22
Undervalued
Cheap
Cheap
 14.16 15.99 15.32
-1.69 σ
-2.91 σ
-2.55 σ
 17 Jan
China FXI 9.72
Fair
Fair
Fair
 11.10 11.07 11.03
-0.66 σ
-0.94 σ
-0.78 σ
 17 Jan
South Korea EWY 9.43
Fair
Fair
Fair
 10.58 10.02 9.76
-0.98 σ
-0.63 σ
-0.36 σ
 17 Jan
Austria EWO 9.06
Fair
Fair
Fair
 8.17 9.64 10.01
+0.49 σ
-0.32 σ
-0.57 σ
 17 Jan
Greece GREK 7.78
Fair
Undervalued
Undervalued
 10.02 11.23 11.28
-0.96 σ
-1.69 σ
-1.49 σ
 17 Jan
Brazil EWZ 7.74
Fair
Undervalued
Undervalued
 8.24 10.08 9.75
-0.29 σ
-1.23 σ
-1.26 σ
 17 Jan
Colombia GXG 6.38
Fair
Undervalued
Cheap
 7.50 10.07 13.02
-0.56 σ
-1.49 σ
-2.29 σ
 17 Jan
Turkey TUR 4.78
Fair
Undervalued
Undervalued
 5.44 6.48 8.01
-0.85 σ
-1.44 σ
-1.98 σ
 17 Jan
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).