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 28.84
Fair
Fair
Overvalued
 27.04 25.14 19.45
+0.42 σ
+0.86 σ
+1.93 σ
 24 Apr
India INDA 24.49
Overvalued
Expensive
Expensive
 21.41 19.12 16.92
+1.91 σ
+2.57 σ
+3.09 σ
 24 Apr
United States VTI 23.11
Overvalued
Expensive
Expensive
 20.09 18.20 15.93
+1.57 σ
+2.60 σ
+3.62 σ
 24 Apr
Argentina ARGT 20.36
Expensive
Expensive
Expensive
 11.85 11.21 10.22
+7.34 σ
+5.42 σ
+4.72 σ
 24 Apr
Australia EWA 19.22
Expensive
Expensive
Expensive
 15.97 15.48 14.42
+2.23 σ
+3.98 σ
+3.96 σ
 24 Apr
Denmark EDEN 18.71
Fair
Fair
Overvalued
 19.46 18.47 16.32
-0.17 σ
+0.10 σ
+1.34 σ
 24 Apr
Taiwan EWT 18.59
Expensive
Expensive
Expensive
 15.03 13.89 13.40
+2.14 σ
+3.60 σ
+4.12 σ
 24 Apr
France EWQ 17.66
Overvalued
Expensive
Expensive
 15.23 14.56 12.93
+1.41 σ
+2.62 σ
+2.98 σ
 24 Apr
Thailand THD 17.52
Fair
Fair
Fair
 19.01 17.81 15.22
-0.76 σ
-0.15 σ
+0.80 σ
 24 Apr
Switzerland EWL 16.59
Undervalued
Fair
Fair
 18.16 17.28 15.30
-1.19 σ
-0.65 σ
+0.70 σ
 24 Apr
Canada EWC 16.52
Expensive
Overvalued
Expensive
 14.25 14.70 14.13
+2.06 σ
+1.90 σ
+2.55 σ
 24 Apr
Malaysia EWM 15.66
Overvalued
Fair
Overvalued
 14.59 15.10 14.52
+1.21 σ
+0.82 σ
+1.31 σ
 24 Apr
Ireland EIRL 15.43
Fair
Fair
Fair
 16.70 16.27 16.05
-0.44 σ
-0.45 σ
-0.25 σ
 24 Apr
Japan EWJ 15.21
Fair
Overvalued
Fair
 14.29 13.84 14.51
+0.59 σ
+1.29 σ
+0.43 σ
 24 Apr
Hong Kong EWH 15.09
Fair
Fair
Fair
 15.15 15.02 15.19
-0.05 σ
+0.09 σ
-0.11 σ
 24 Apr
Netherlands EWN 14.93
Undervalued
Fair
Fair
 18.89 16.65 13.84
-1.43 σ
-0.85 σ
+0.48 σ
 24 Apr
Vietnam VNM 14.84
Fair
-
-
 16.73 - -
-0.60 σ
-
-
 24 Apr
Sweden EWD 14.75
Fair
Fair
Fair
 15.98 15.75 14.62
-0.69 σ
-0.89 σ
+0.09 σ
 24 Apr
Perù EPU 14.50
Overvalued
Overvalued
Overvalued
 11.79 12.49 12.43
+1.59 σ
+1.53 σ
+1.28 σ
 24 Apr
Germany EWG 12.97
Fair
Fair
Fair
 13.20 13.00 12.23
-0.16 σ
-0.03 σ
+0.70 σ
 24 Apr
United Kingdom EWU 12.81
Fair
Fair
Fair
 11.80 13.02 12.17
+0.81 σ
-0.16 σ
+0.43 σ
 24 Apr
Belgium EWK 12.60
Undervalued
Cheap
Fair
 16.00 16.94 14.28
-1.20 σ
-2.34 σ
-0.66 σ
 24 Apr
South Korea EWY 12.34
Overvalued
Expensive
Expensive
 10.49 9.85 9.61
+1.83 σ
+3.08 σ
+3.04 σ
 24 Apr
Israel EIS 12.14
Fair
Overvalued
Fair
 10.90 10.83 11.05
+0.80 σ
+1.56 σ
+0.66 σ
 24 Apr
Mexico EWW 11.95
Undervalued
Undervalued
Undervalued
 13.00 14.85 14.26
-1.16 σ
-1.52 σ
-1.33 σ
 24 Apr
Indonesia EIDO 11.68
Undervalued
Cheap
Undervalued
 14.19 14.66 13.49
-1.88 σ
-3.12 σ
-1.23 σ
 24 Apr
Singapore EWS 11.42
Undervalued
Undervalued
Cheap
 13.23 13.03 13.34
-1.55 σ
-1.81 σ
-2.31 σ
 24 Apr
Philippines EPHE 11.01
Cheap
Cheap
Cheap
 15.10 16.64 15.32
-2.32 σ
-3.74 σ
-2.16 σ
 24 Apr
Qatar QAT 10.99
Cheap
-
-
 14.27 - -
-2.03 σ
-
-
 24 Apr
Egypt EGPT 10.80
Expensive
Overvalued
Fair
 7.17 8.50 9.25
+4.59 σ
+1.69 σ
+0.90 σ
 04 Apr
South Africa EZA 10.23
Fair
Undervalued
Fair
 10.11 12.49 11.55
+0.13 σ
-1.07 σ
-0.81 σ
 24 Apr
Poland EPOL 10.02
Fair
Fair
Undervalued
 10.02 11.32 11.57
+0.00 σ
-0.90 σ
-1.28 σ
 24 Apr
Italy EWI 10.00
Fair
Undervalued
Fair
 10.62 11.75 11.36
-0.35 σ
-1.09 σ
-0.79 σ
 24 Apr
Spain EWP 9.40
Undervalued
Cheap
Undervalued
 11.76 12.41 11.72
-1.47 σ
-2.12 σ
-1.55 σ
 24 Apr
Norway NORW 9.04
Undervalued
Cheap
Undervalued
 11.77 12.60 11.58
-1.04 σ
-2.06 σ
-1.63 σ
 24 Apr
China FXI 8.83
Undervalued
Undervalued
Undervalued
 11.40 11.02 11.11
-1.34 σ
-1.47 σ
-1.38 σ
 24 Apr
Greece GREK 7.80
Undervalued
Cheap
Undervalued
 11.09 11.83 11.57
-1.59 σ
-2.30 σ
-1.70 σ
 24 Apr
Brazil EWZ 7.80
Fair
Undervalued
Undervalued
 9.01 10.32 9.69
-0.54 σ
-1.43 σ
-1.12 σ
 24 Apr
Austria EWO 7.08
Fair
Undervalued
Undervalued
 8.46 9.95 10.25
-0.73 σ
-1.62 σ
-1.89 σ
 24 Apr
Chile ECH 7.06
Undervalued
Cheap
Cheap
 11.14 13.72 14.98
-1.25 σ
-2.54 σ
-5.15 σ
 24 Apr
Turkey TUR 6.55
Overvalued
Fair
Fair
 5.49 6.73 8.22
+1.67 σ
-0.14 σ
-0.99 σ
 24 Apr
Colombia GXG 5.44
Undervalued
Cheap
Cheap
 8.36 10.82 13.57
-1.35 σ
-2.27 σ
-2.94 σ
 24 Apr
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).