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
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 32.98
Overvalued
Overvalued
Expensive
 27.75 26.34 20.41
+1.11 σ
+1.56 σ
+2.39 σ
 -0.73% 15 May
VTI United States 27.07
Expensive
Expensive
Expensive
 21.88 19.10 16.31
+2.80 σ
+3.45 σ
+4.34 σ
 +2.44% 15 May
INDA India 25.56
Expensive
Expensive
Expensive
 22.74 20.03 17.57
+2.46 σ
+2.34 σ
+3.03 σ
 +2.03% 15 May
EWL Switzerland 23.04
Expensive
Expensive
Expensive
 18.97 17.68 15.57
+2.28 σ
+4.12 σ
+3.72 σ
 +7.32% 15 May
EWD Sweden 20.40
Expensive
Expensive
Expensive
 16.12 15.70 14.68
+2.23 σ
+3.78 σ
+4.06 σ
 +10.98% 15 May
EWC Canada 20.14
Expensive
Expensive
Expensive
 15.20 14.94 14.27
+2.82 σ
+4.50 σ
+5.52 σ
 +6.92% 15 May
EWA Australia 19.53
Overvalued
Expensive
Expensive
 16.93 16.03 14.61
+1.22 σ
+2.53 σ
+3.54 σ
 +2.41% 15 May
EWQ France 18.08
Overvalued
Expensive
Expensive
 16.31 15.04 13.13
+1.02 σ
+2.06 σ
+2.70 σ
 +8.66% 15 May
EWK Belgium 17.89
Fair
Fair
Overvalued
 16.33 16.87 14.58
+0.55 σ
+0.52 σ
+1.29 σ
 +7.50% 15 May
EWU United Kingdom 17.64
Expensive
Expensive
Expensive
 12.55 13.18 12.16
+2.62 σ
+3.02 σ
+3.76 σ
 +7.02% 15 May
EWG Germany 17.30
Overvalued
Expensive
Expensive
 13.87 13.29 12.31
+1.96 σ
+3.62 σ
+4.33 σ
 +19.33% 15 May
EWN Netherlands 15.82
Undervalued
Fair
Fair
 18.83 16.77 14.07
-1.05 σ
-0.48 σ
+0.76 σ
 +9.81% 15 May
EWT Taiwan 15.75
Fair
Fair
Overvalued
 15.83 14.44 13.78
-0.04 σ
+0.75 σ
+1.30 σ
 +3.82% 15 May
EDEN Denmark 14.90
Fair
Undervalued
Fair
 18.72 18.54 16.54
-0.91 σ
-1.52 σ
-0.88 σ
 -3.40% 15 May
EWM Malaysia 14.79
Fair
Fair
Fair
 14.48 15.08 14.63
+0.36 σ
-0.39 σ
+0.20 σ
 +2.82% 15 May
VNM Vietnam 14.62
Fair
-
-
 15.88 - -
-0.40 σ
-
-
 +6.78% 15 May
THD Thailand 14.54
Undervalued
Undervalued
Fair
 18.81 17.89 15.65
-1.97 σ
-1.76 σ
-0.42 σ
 -7.00% 15 May
EWH Hong Kong 14.32
Undervalued
Fair
Fair
 15.34 15.08 15.16
-1.01 σ
-0.87 σ
-0.90 σ
 +10.06% 15 May
EWS Singapore 14.13
Fair
Overvalued
Fair
 13.45 12.98 13.33
+0.57 σ
+1.20 σ
+0.92 σ
 +14.65% 15 May
EWJ Japan 14.01
Fair
Fair
Fair
 14.97 14.08 14.44
-0.62 σ
-0.06 σ
-0.27 σ
 +4.77% 15 May
ARGT Argentina 13.50
Fair
Overvalued
Overvalued
 12.11 11.94 10.47
+0.87 σ
+1.12 σ
+1.29 σ
 +19.91% 15 May
EZA South Africa 13.16
Expensive
Fair
Fair
 10.27 12.23 11.76
+2.72 σ
+0.47 σ
+0.88 σ
 +9.22% 15 May
ECH Chile 12.90
Fair
Fair
Fair
 10.45 13.20 14.69
+0.86 σ
-0.11 σ
-1.00 σ
 +21.19% 15 May
EWI Italy 12.70
Overvalued
Fair
Fair
 10.66 11.45 11.16
+1.11 σ
+0.83 σ
+0.97 σ
 +18.98% 15 May
EWW Mexico 12.59
Fair
Fair
Fair
 12.68 14.06 14.23
-0.08 σ
-0.83 σ
-0.92 σ
 +13.13% 15 May
EIS Israel 12.57
Fair
Overvalued
Overvalued
 11.55 11.12 10.97
+0.59 σ
+1.36 σ
+1.05 σ
 +13.27% 15 May
EPU Perù 12.24
Fair
Fair
Fair
 12.43 12.64 12.42
-0.08 σ
-0.27 σ
-0.12 σ
 +7.05% 15 May
EPOL Poland 11.86
Fair
Fair
Fair
 10.07 11.00 11.48
+0.88 σ
+0.64 σ
+0.31 σ
 +23.96% 15 May
EIRL Ireland 11.73
Undervalued
Cheap
Undervalued
 16.55 15.84 16.12
-1.65 σ
-2.26 σ
-1.77 σ
 +0.48% 15 May
QAT Qatar 11.71
Fair
-
-
 13.60 - -
-0.88 σ
-
-
 +4.67% 15 May
EIDO Indonesia 11.61
Undervalued
Cheap
Undervalued
 13.57 14.34 13.60
-1.28 σ
-2.12 σ
-1.52 σ
 -5.26% 15 May
EWP Spain 11.26
Fair
Fair
Fair
 11.60 11.89 11.55
-0.20 σ
-0.50 σ
-0.20 σ
 +20.25% 15 May
NORW Norway 11.22
Fair
Fair
Fair
 11.22 12.53 11.55
-0.00 σ
-0.73 σ
-0.21 σ
 +9.05% 15 May
EWZ Brazil 10.58
Overvalued
Fair
Fair
 8.07 10.02 9.80
+1.68 σ
+0.30 σ
+0.50 σ
 +4.89% 15 May
TUR Turkey 10.38
Expensive
Expensive
Overvalued
 5.44 6.40 7.94
+6.19 σ
+3.44 σ
+1.50 σ
 -9.39% 15 May
EWO Austria 10.31
Overvalued
Fair
Fair
 8.31 9.58 9.95
+1.05 σ
+0.41 σ
+0.22 σ
 +22.59% 15 May
EPHE Philippines 10.11
Undervalued
Cheap
Cheap
 13.99 15.67 15.29
-1.60 σ
-2.57 σ
-2.54 σ
 +5.39% 15 May
FXI China 10.08
Fair
Fair
Fair
 11.01 11.08 11.02
-0.45 σ
-0.70 σ
-0.56 σ
 +13.51% 15 May
EWY South Korea 9.51
Fair
Fair
Fair
 10.53 10.02 9.79
-0.87 σ
-0.54 σ
-0.31 σ
 +1.06% 15 May
GREK Greece 9.13
Fair
Fair
Fair
 9.84 11.19 11.16
-0.31 σ
-1.00 σ
-0.87 σ
 +21.72% 15 May
GXG Colombia 8.20
Fair
Fair
Undervalued
 7.43 9.80 12.82
+0.41 σ
-0.67 σ
-1.57 σ
 +16.44% 15 May
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).