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
ENZL New Zealand 32.77
Overvalued
Overvalued
Expensive
 27.59 26.20 20.32
+1.12 σ
+1.56 σ
+2.40 σ
 -8.52% 01 Apr
VTI United States 25.26
Overvalued
Expensive
Expensive
 21.73 19.03 16.28
+1.90 σ
+2.75 σ
+3.68 σ
 -2.88% 01 Apr
EWL Switzerland 23.37
Expensive
Expensive
Expensive
 18.87 17.64 15.54
+2.65 σ
+4.59 σ
+3.93 σ
 +3.82% 01 Apr
INDA India 23.00
Fair
Overvalued
Expensive
 22.66 19.96 17.52
+0.29 σ
+1.30 σ
+2.09 σ
 -5.90% 01 Apr
EWC Canada 19.78
Expensive
Expensive
Expensive
 15.11 14.94 14.26
+2.78 σ
+4.19 σ
+5.25 σ
 +1.79% 01 Apr
EWQ France 18.33
Overvalued
Expensive
Expensive
 16.21 15.02 13.10
+1.23 σ
+2.28 σ
+2.88 σ
 +4.01% 01 Apr
EWA Australia 18.03
Fair
Overvalued
Expensive
 16.83 15.99 14.59
+0.58 σ
+1.53 σ
+2.50 σ
 -5.43% 01 Apr
EWD Sweden 18.01
Overvalued
Overvalued
Expensive
 16.07 15.69 14.66
+1.03 σ
+1.91 σ
+2.39 σ
 +3.59% 01 Apr
EWK Belgium 17.85
Fair
Fair
Overvalued
 16.22 16.86 14.54
+0.58 σ
+0.52 σ
+1.29 σ
 +1.13% 01 Apr
EWU United Kingdom 17.66
Expensive
Expensive
Expensive
 12.50 13.18 12.15
+2.77 σ
+3.04 σ
+3.81 σ
 +4.06% 01 Apr
EWG Germany 17.10
Overvalued
Expensive
Expensive
 13.79 13.28 12.30
+1.96 σ
+3.51 σ
+4.23 σ
 +12.69% 01 Apr
EWT Taiwan 16.99
Fair
Overvalued
Expensive
 15.75 14.40 13.76
+0.57 σ
+1.49 σ
+2.16 σ
 -9.12% 01 Apr
ARGT Argentina 15.54
Expensive
Expensive
Expensive
 12.10 11.90 10.47
+2.17 σ
+2.60 σ
+2.17 σ
 +10.66% 01 Apr
EWH Hong Kong 14.91
Fair
Fair
Fair
 15.28 15.08 15.16
-0.37 σ
-0.20 σ
-0.27 σ
 +5.52% 01 Apr
EWN Netherlands 14.82
Undervalued
Fair
Fair
 18.82 16.77 14.04
-1.40 σ
-0.99 σ
+0.34 σ
 -2.72% 01 Apr
EDEN Denmark 14.56
Undervalued
Undervalued
Undervalued
 18.91 18.58 16.53
-1.01 σ
-1.68 σ
-1.06 σ
 -12.55% 01 Apr
THD Thailand 14.26
Cheap
Undervalued
Fair
 18.85 17.91 15.62
-2.15 σ
-1.92 σ
-0.51 σ
 -13.31% 01 Apr
EWM Malaysia 14.15
Fair
Undervalued
Fair
 14.48 15.08 14.62
-0.37 σ
-1.25 σ
-0.55 σ
 -5.25% 01 Apr
VNM Vietnam 14.06
Fair
-
-
 15.96 - -
-0.61 σ
-
-
 +4.22% 01 Apr
EWS Singapore 13.71
Fair
Fair
Fair
 13.37 12.97 13.32
+0.29 σ
+0.78 σ
+0.45 σ
 +9.94% 01 Apr
EWJ Japan 13.61
Fair
Fair
Fair
 14.89 14.07 14.44
-0.80 σ
-0.37 σ
-0.52 σ
 -1.15% 01 Apr
EZA South Africa 13.18
Expensive
Fair
Fair
 10.19 12.23 11.74
+3.02 σ
+0.47 σ
+0.91 σ
 +4.26% 01 Apr
EPU Perù 13.08
Fair
Fair
Fair
 12.34 12.63 12.42
+0.33 σ
+0.31 σ
+0.42 σ
 +6.92% 01 Apr
EIS Israel 13.03
Fair
Overvalued
Overvalued
 11.50 11.10 10.98
+0.90 σ
+1.84 σ
+1.35 σ
 +6.64% 01 Apr
EWI Italy 12.67
Overvalued
Fair
Fair
 10.62 11.45 11.16
+1.14 σ
+0.81 σ
+0.95 σ
 +11.26% 01 Apr
EIRL Ireland 12.22
Undervalued
Cheap
Undervalued
 16.68 15.90 16.12
-1.53 σ
-2.01 σ
-1.57 σ
 -6.60% 01 Apr
NORW Norway 12.22
Fair
Fair
Fair
 11.28 12.54 11.54
+0.37 σ
-0.17 σ
+0.43 σ
 +8.00% 01 Apr
ECH Chile 11.79
Fair
Fair
Undervalued
 10.41 13.22 14.70
+0.49 σ
-0.52 σ
-1.63 σ
 +13.40% 01 Apr
EPOL Poland 11.77
Fair
Fair
Fair
 10.02 11.00 11.48
+0.88 σ
+0.57 σ
+0.23 σ
 +18.32% 01 Apr
QAT Qatar 11.35
Undervalued
-
-
 13.63 - -
-1.06 σ
-
-
 +0.28% 01 Apr
EWP Spain 11.14
Fair
Fair
Fair
 11.61 11.91 11.55
-0.28 σ
-0.60 σ
-0.28 σ
 +13.96% 01 Apr
EWW Mexico 10.94
Undervalued
Undervalued
Undervalued
 12.67 14.12 14.22
-1.64 σ
-1.76 σ
-1.85 σ
 -1.41% 01 Apr
EWZ Brazil 10.62
Overvalued
Fair
Fair
 8.08 10.03 9.78
+1.69 σ
+0.31 σ
+0.53 σ
 -3.11% 01 Apr
EWY South Korea 9.99
Fair
Fair
Fair
 10.54 10.02 9.78
-0.47 σ
-0.03 σ
+0.24 σ
 -8.38% 01 Apr
FXI China 9.73
Fair
Fair
Fair
 11.01 11.08 11.02
-0.61 σ
-0.94 σ
-0.76 σ
 +17.87% 01 Apr
TUR Turkey 9.58
Expensive
Expensive
Overvalued
 5.41 6.40 7.94
+5.39 σ
+2.74 σ
+1.01 σ
 -10.86% 01 Apr
EIDO Indonesia 9.58
Cheap
Cheap
Cheap
 13.55 14.37 13.59
-2.57 σ
-3.74 σ
-3.03 σ
 -17.66% 01 Apr
EPHE Philippines 9.57
Undervalued
Cheap
Cheap
 13.98 15.75 15.30
-1.81 σ
-2.91 σ
-2.82 σ
 -2.76% 01 Apr
EWO Austria 9.47
Fair
Fair
Fair
 8.25 9.58 9.96
+0.67 σ
-0.06 σ
-0.30 σ
 +12.10% 01 Apr
GREK Greece 8.69
Fair
Undervalued
Undervalued
 9.86 11.17 11.19
-0.51 σ
-1.18 σ
-1.07 σ
 +14.18% 01 Apr
GXG Colombia 7.45
Fair
Fair
Undervalued
 7.42 9.85 12.87
+0.02 σ
-0.99 σ
-1.84 σ
 +14.05% 01 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).