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 30.96
Fair
Overvalued
Overvalued
 27.75 26.57 20.59
+0.69 σ
+1.03 σ
+1.94 σ
 -1.01% 04:00 PM
VTI United States 25.25
Overvalued
Expensive
Expensive
 21.99 19.24 16.38
+1.69 σ
+2.49 σ
+3.47 σ
 +6.03% 04:00 PM
INDA India 24.54
Overvalued
Overvalued
Expensive
 22.89 20.18 17.67
+1.40 σ
+1.82 σ
+2.58 σ
 +3.06% 04:00 PM
EWL Switzerland 22.34
Overvalued
Expensive
Expensive
 19.12 17.76 15.63
+1.65 σ
+3.25 σ
+3.30 σ
 +6.05% 04:00 PM
EWC Canada 21.15
Expensive
Expensive
Expensive
 15.28 14.96 14.30
+3.13 σ
+5.20 σ
+6.31 σ
 +9.13% 04:00 PM
EWD Sweden 19.98
Overvalued
Expensive
Expensive
 16.15 15.76 14.72
+1.95 σ
+3.19 σ
+3.66 σ
 +6.24% 04:00 PM
EWA Australia 19.27
Overvalued
Expensive
Expensive
 16.96 16.11 14.66
+1.07 σ
+2.15 σ
+3.24 σ
 +3.86% 04:00 PM
EWG Germany 18.45
Expensive
Expensive
Expensive
 13.89 13.33 12.35
+2.56 σ
+4.37 σ
+5.19 σ
 +15.24% 04:00 PM
EWQ France 18.28
Overvalued
Expensive
Expensive
 16.37 15.08 13.18
+1.08 σ
+2.08 σ
+2.71 σ
 +7.72% 04:00 PM
VNM Vietnam 17.72
Fair
-
-
 15.80 - -
+0.62 σ
-
-
 +22.40% 04:00 PM
EWU United Kingdom 17.69
Expensive
Expensive
Expensive
 12.60 13.20 12.20
+2.49 σ
+2.99 σ
+3.69 σ
 +7.27% 04:00 PM
EWN Netherlands 17.33
Fair
Fair
Overvalued
 18.69 16.77 14.13
-0.47 σ
+0.28 σ
+1.39 σ
 +12.31% 04:00 PM
EWK Belgium 17.06
Fair
Fair
Fair
 16.33 16.88 14.64
+0.25 σ
+0.09 σ
+0.94 σ
 +9.46% 03:58 PM
EWT Taiwan 16.69
Fair
Overvalued
Overvalued
 15.85 14.51 13.82
+0.39 σ
+1.26 σ
+1.89 σ
 +10.63% 04:00 PM
EWH Hong Kong 15.31
Fair
Fair
Fair
 15.33 15.05 15.16
-0.02 σ
+0.30 σ
+0.16 σ
 +12.73% 04:00 PM
EDEN Denmark 14.93
Fair
Undervalued
Fair
 18.29 18.45 16.55
-0.84 σ
-1.45 σ
-0.88 σ
 +0.76% 03:59 PM
EWJ Japan 14.80
Fair
Fair
Fair
 14.94 14.07 14.43
-0.09 σ
+0.59 σ
+0.23 σ
 +2.63% 04:00 PM
EWS Singapore 14.66
Overvalued
Overvalued
Overvalued
 13.46 13.00 13.33
+1.02 σ
+1.71 σ
+1.51 σ
 +13.47% 04:00 PM
THD Thailand 14.55
Undervalued
Undervalued
Fair
 18.58 17.82 15.69
-1.76 σ
-1.67 σ
-0.44 σ
 -7.35% 04:00 PM
EIS Israel 14.33
Overvalued
Expensive
Expensive
 11.63 11.15 10.97
+1.54 σ
+2.87 σ
+2.23 σ
 +19.89% 04:00 PM
EWM Malaysia 13.84
Fair
Undervalued
Fair
 14.40 15.06 14.64
-0.69 σ
-1.62 σ
-0.97 σ
 -1.70% 04:00 PM
EZA South Africa 13.62
Expensive
Fair
Overvalued
 10.34 12.20 11.80
+2.72 σ
+0.73 σ
+1.14 σ
 +9.76% 04:00 PM
EIRL Ireland 13.39
Undervalued
Undervalued
Undervalued
 16.22 15.75 16.12
-1.01 σ
-1.29 σ
-1.11 σ
 +5.45% 03:48 PM
EWI Italy 12.91
Overvalued
Fair
Overvalued
 10.62 11.43 11.16
+1.28 σ
+1.00 σ
+1.11 σ
 +15.00% 04:00 PM
EWW Mexico 12.43
Fair
Fair
Undervalued
 12.62 13.97 14.23
-0.19 σ
-0.90 σ
-1.02 σ
 +10.77% 04:00 PM
EPOL Poland 12.32
Overvalued
Overvalued
Fair
 10.10 10.98 11.48
+1.08 σ
+1.01 σ
+0.67 σ
 +21.82% 04:00 PM
EWY South Korea 11.82
Overvalued
Overvalued
Expensive
 10.48 10.04 9.81
+1.15 σ
+1.87 σ
+2.26 σ
 +24.29% 04:00 PM
EWP Spain 11.77
Fair
Fair
Fair
 11.47 11.84 11.54
+0.19 σ
-0.06 σ
+0.15 σ
 +18.08% 04:00 PM
ARGT Argentina 11.74
Fair
Fair
Fair
 12.10 12.03 10.51
-0.23 σ
-0.22 σ
+0.52 σ
 -1.81% 04:00 PM
NORW Norway 11.65
Fair
Fair
Fair
 11.05 12.52 11.54
+0.26 σ
-0.48 σ
+0.07 σ
 +9.95% 03:59 PM
QAT Qatar 11.57
Fair
-
-
 13.51 - -
-0.89 σ
-
-
 +2.66% 04:00 PM
ECH Chile 11.48
Fair
Fair
Undervalued
 10.38 13.13 14.65
+0.39 σ
-0.60 σ
-1.76 σ
 +5.14% 04:00 PM
EPU Perù 11.40
Fair
Fair
Fair
 12.36 12.61 12.39
-0.44 σ
-0.83 σ
-0.65 σ
 +10.25% 04:00 PM
EIDO Indonesia 11.26
Undervalued
Cheap
Undervalued
 13.43 14.28 13.61
-1.40 σ
-2.25 σ
-1.82 σ
 -4.68% 04:00 PM
EWO Austria 11.11
Overvalued
Fair
Fair
 8.28 9.55 9.94
+1.54 σ
+0.90 σ
+0.74 σ
 +20.76% 03:59 PM
GREK Greece 10.55
Fair
Fair
Fair
 9.72 11.18 11.12
+0.38 σ
-0.30 σ
-0.25 σ
 +31.46% 04:00 PM
TUR Turkey 10.43
Expensive
Expensive
Overvalued
 5.49 6.40 7.94
+5.49 σ
+3.48 σ
+1.54 σ
 -3.30% 04:00 PM
EWZ Brazil 10.38
Overvalued
Fair
Fair
 8.01 9.97 9.84
+1.74 σ
+0.22 σ
+0.35 σ
 +4.00% 04:00 PM
FXI China 10.26
Fair
Fair
Fair
 10.85 11.05 11.02
-0.30 σ
-0.56 σ
-0.45 σ
 +12.15% 04:00 PM
EPHE Philippines 9.87
Undervalued
Cheap
Cheap
 13.77 15.51 15.28
-1.55 σ
-2.52 σ
-2.63 σ
 +2.74% 04:00 PM
GXG Colombia 8.23
Fair
Fair
Undervalued
 7.43 9.68 12.74
+0.42 σ
-0.62 σ
-1.52 σ
 +12.06% 14 Jul
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).