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 35.37
Overvalued
Expensive
Expensive
 27.59 26.20 20.32
+1.69 σ
+2.18 σ
+2.90 σ
 -5.01% 25 Apr
EWL Switzerland 25.57
Expensive
Expensive
Expensive
 18.87 17.64 15.54
+3.94 σ
+6.35 σ
+5.03 σ
 +5.99% 25 Apr
VTI United States 25.21
Overvalued
Expensive
Expensive
 21.73 19.03 16.28
+1.87 σ
+2.73 σ
+3.66 σ
 -4.44% 25 Apr
INDA India 23.71
Fair
Overvalued
Expensive
 22.66 19.96 17.52
+0.89 σ
+1.61 σ
+2.37 σ
 -1.93% 25 Apr
EWA Australia 20.70
Overvalued
Expensive
Expensive
 16.83 15.99 14.59
+1.86 σ
+3.52 σ
+4.45 σ
 -1.77% 25 Apr
EWC Canada 20.21
Expensive
Expensive
Expensive
 15.11 14.94 14.26
+3.04 σ
+4.57 σ
+5.67 σ
 +3.33% 25 Apr
EWD Sweden 20.06
Expensive
Expensive
Expensive
 16.07 15.69 14.66
+2.13 σ
+3.60 σ
+3.86 σ
 +6.84% 25 Apr
EWG Germany 19.81
Expensive
Expensive
Expensive
 13.79 13.28 12.30
+3.55 σ
+5.99 σ
+6.60 σ
 +17.09% 25 Apr
EWQ France 19.72
Expensive
Expensive
Expensive
 16.21 15.02 13.10
+2.04 σ
+3.24 σ
+3.65 σ
 +6.25% 25 Apr
EWU United Kingdom 19.20
Expensive
Expensive
Expensive
 12.50 13.18 12.15
+3.59 σ
+4.09 σ
+4.88 σ
 +5.18% 25 Apr
EWK Belgium 19.16
Overvalued
Overvalued
Overvalued
 16.22 16.86 14.54
+1.04 σ
+1.19 σ
+1.81 σ
 +6.37% 25 Apr
EWN Netherlands 17.15
Fair
Fair
Overvalued
 18.82 16.77 14.04
-0.58 σ
+0.19 σ
+1.35 σ
 +2.51% 25 Apr
EWT Taiwan 16.40
Fair
Overvalued
Overvalued
 15.75 14.40 13.76
+0.30 σ
+1.15 σ
+1.76 σ
 -11.28% 25 Apr
EWH Hong Kong 16.09
Fair
Overvalued
Overvalued
 15.28 15.08 15.16
+0.80 σ
+1.16 σ
+1.00 σ
 +1.67% 25 Apr
EWJ Japan 15.92
Fair
Overvalued
Fair
 14.89 14.07 14.44
+0.65 σ
+1.49 σ
+0.94 σ
 +2.74% 25 Apr
THD Thailand 15.91
Undervalued
Undervalued
Fair
 18.85 17.91 15.62
-1.37 σ
-1.05 σ
+0.11 σ
 -10.94% 25 Apr
EDEN Denmark 15.91
Fair
Undervalued
Fair
 18.91 18.58 16.53
-0.70 σ
-1.12 σ
-0.33 σ
 -10.37% 25 Apr
EWS Singapore 15.42
Overvalued
Expensive
Expensive
 13.37 12.97 13.32
+1.76 σ
+2.59 σ
+2.42 σ
 +9.25% 25 Apr
EWM Malaysia 15.11
Fair
Fair
Fair
 14.48 15.08 14.62
+0.72 σ
+0.04 σ
+0.58 σ
 -3.59% 25 Apr
EZA South Africa 14.49
Expensive
Overvalued
Overvalued
 10.19 12.23 11.74
+4.36 σ
+1.13 σ
+1.74 σ
 +4.38% 25 Apr
EWI Italy 13.91
Overvalued
Overvalued
Overvalued
 10.62 11.45 11.16
+1.84 σ
+1.63 σ
+1.73 σ
 +14.18% 25 Apr
VNM Vietnam 13.81
Fair
-
-
 15.96 - -
-0.69 σ
-
-
 +0.25% 25 Apr
ECH Chile 13.73
Overvalued
Fair
Fair
 10.41 13.22 14.70
+1.17 σ
+0.18 σ
-0.54 σ
 +17.69% 25 Apr
EPOL Poland 13.62
Overvalued
Overvalued
Overvalued
 10.02 11.00 11.48
+1.80 σ
+1.95 σ
+1.72 σ
 +24.13% 25 Apr
ARGT Argentina 13.60
Fair
Overvalued
Overvalued
 12.10 11.90 10.47
+0.95 σ
+1.22 σ
+1.34 σ
 +14.64% 25 Apr
EPU Perù 13.43
Fair
Fair
Fair
 12.34 12.63 12.42
+0.49 σ
+0.55 σ
+0.65 σ
 +6.16% 25 Apr
EIS Israel 13.18
Fair
Overvalued
Overvalued
 11.50 11.10 10.98
+0.99 σ
+1.98 σ
+1.45 σ
 +8.16% 25 Apr
EIRL Ireland 12.76
Undervalued
Undervalued
Undervalued
 16.68 15.90 16.12
-1.35 σ
-1.72 σ
-1.36 σ
 -4.27% 25 Apr
EWP Spain 12.67
Fair
Fair
Fair
 11.61 11.91 11.55
+0.62 σ
+0.59 σ
+0.75 σ
 +19.68% 25 Apr
EWW Mexico 12.63
Fair
Fair
Fair
 12.67 14.12 14.22
-0.04 σ
-0.83 σ
-0.90 σ
 +10.46% 25 Apr
NORW Norway 12.60
Fair
Fair
Fair
 11.28 12.54 11.54
+0.52 σ
+0.04 σ
+0.67 σ
 +3.24% 25 Apr
QAT Qatar 12.17
Fair
-
-
 13.63 - -
-0.68 σ
-
-
 +1.42% 25 Apr
EIDO Indonesia 12.10
Fair
Undervalued
Undervalued
 13.55 14.37 13.59
-0.94 σ
-1.77 σ
-1.12 σ
 -13.87% 25 Apr
EWO Austria 11.67
Overvalued
Overvalued
Overvalued
 8.25 9.58 9.96
+1.87 σ
+1.17 σ
+1.06 σ
 +17.16% 25 Apr
EWZ Brazil 10.98
Overvalued
Fair
Fair
 8.08 10.03 9.78
+1.94 σ
+0.50 σ
+0.77 σ
 +0.61% 25 Apr
FXI China 10.71
Fair
Fair
Fair
 11.01 11.08 11.02
-0.14 σ
-0.26 σ
-0.18 σ
 +10.02% 25 Apr
EPHE Philippines 10.61
Undervalued
Cheap
Cheap
 13.98 15.75 15.30
-1.38 σ
-2.42 σ
-2.31 σ
 +0.75% 25 Apr
TUR Turkey 10.49
Expensive
Expensive
Overvalued
 5.41 6.40 7.94
+6.56 σ
+3.52 σ
+1.56 σ
 -11.34% 25 Apr
EWY South Korea 9.87
Fair
Fair
Fair
 10.54 10.02 9.78
-0.58 σ
-0.16 σ
+0.10 σ
 -5.11% 25 Apr
GREK Greece 9.85
Fair
Fair
Fair
 9.86 11.17 11.19
-0.01 σ
-0.63 σ
-0.57 σ
 +17.19% 25 Apr
GXG Colombia 8.09
Fair
Fair
Undervalued
 7.42 9.85 12.87
+0.35 σ
-0.73 σ
-1.63 σ
 +10.82% 25 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).