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
United States VTI 27.46
Expensive
Expensive
Expensive
 20.99 18.68 16.12
+3.62 σ
+4.21 σ
+5.03 σ
 20 Nov
New Zealand ENZL 26.55
Fair
Fair
Overvalued
 27.28 25.70 19.94
-0.17 σ
+0.20 σ
+1.32 σ
 20 Nov
India INDA 25.00
Overvalued
Expensive
Expensive
 22.25 19.64 17.27
+1.97 σ
+2.40 σ
+3.04 σ
 20 Nov
Switzerland EWL 21.16
Overvalued
Expensive
Expensive
 18.41 17.46 15.42
+1.99 σ
+3.46 σ
+3.00 σ
 20 Nov
Australia EWA 20.72
Expensive
Expensive
Expensive
 16.49 15.77 14.52
+2.23 σ
+4.27 σ
+4.78 σ
 20 Nov
Canada EWC 19.25
Expensive
Expensive
Expensive
 14.70 14.84 14.20
+3.17 σ
+4.08 σ
+5.05 σ
 20 Nov
Taiwan EWT 18.44
Overvalued
Expensive
Expensive
 15.57 14.15 13.61
+1.38 σ
+2.70 σ
+3.46 σ
 20 Nov
Thailand THD 17.50
Fair
Fair
Fair
 19.00 18.02 15.49
-0.76 σ
-0.29 σ
+0.72 σ
 20 Nov
Argentina ARGT 17.43
Expensive
Expensive
Expensive
 11.86 11.58 10.34
+4.75 σ
+4.07 σ
+3.20 σ
 20 Nov
France EWQ 17.22
Fair
Overvalued
Expensive
 15.83 14.86 13.01
+0.78 σ
+1.75 σ
+2.49 σ
 20 Nov
Denmark EDEN 16.77
Fair
Fair
Fair
 19.50 18.63 16.49
-0.63 σ
-0.79 σ
+0.15 σ
 20 Nov
Perù EPU 16.67
Expensive
Expensive
Expensive
 12.15 12.60 12.48
+2.07 σ
+2.84 σ
+2.55 σ
 20 Nov
United Kingdom EWU 16.37
Expensive
Expensive
Expensive
 12.09 13.12 12.15
+2.81 σ
+2.30 σ
+2.93 σ
 20 Nov
Belgium EWK 15.83
Fair
Fair
Fair
 16.11 16.93 14.45
-0.10 σ
-0.57 σ
+0.54 σ
 20 Nov
Japan EWJ 15.34
Fair
Overvalued
Fair
 14.77 14.02 14.47
+0.35 σ
+1.09 σ
+0.54 σ
 20 Nov
Germany EWG 15.22
Overvalued
Expensive
Expensive
 13.50 13.15 12.26
+1.09 σ
+2.12 σ
+2.74 σ
 20 Nov
Malaysia EWM 15.02
Fair
Fair
Fair
 14.48 15.08 14.58
+0.59 σ
-0.09 σ
+0.51 σ
 20 Nov
Vietnam VNM 14.70
Fair
-
-
 16.34 - -
-0.53 σ
-
-
 20 Nov
Hong Kong EWH 14.66
Fair
Fair
Fair
 15.24 15.06 15.19
-0.55 σ
-0.46 σ
-0.57 σ
 20 Nov
Ireland EIRL 13.68
Undervalued
Undervalued
Fair
 16.89 16.12 16.12
-1.15 σ
-1.34 σ
-0.99 σ
 20 Nov
Netherlands EWN 13.63
Cheap
Undervalued
Fair
 19.02 16.80 13.99
-2.02 σ
-1.62 σ
-0.15 σ
 20 Nov
South Africa EZA 13.44
Expensive
Fair
Overvalued
 10.05 12.35 11.67
+3.76 σ
+0.52 σ
+1.11 σ
 20 Nov
Israel EIS 13.29
Overvalued
Expensive
Overvalued
 11.18 10.97 10.99
+1.28 σ
+2.48 σ
+1.49 σ
 20 Nov
Sweden EWD 12.62
Undervalued
Cheap
Undervalued
 16.01 15.71 14.63
-1.91 σ
-2.69 σ
-1.48 σ
 20 Nov
Singapore EWS 12.61
Fair
Fair
Fair
 13.23 12.94 13.30
-0.52 σ
-0.37 σ
-0.81 σ
 20 Nov
Indonesia EIDO 12.50
Fair
Undervalued
Fair
 13.81 14.53 13.57
-0.89 σ
-1.80 σ
-0.79 σ
 20 Nov
Chile ECH 11.70
Fair
Fair
Undervalued
 10.61 13.42 14.82
+0.37 σ
-0.63 σ
-1.86 σ
 20 Nov
Philippines EPHE 10.96
Undervalued
Cheap
Cheap
 14.38 16.14 15.32
-1.54 σ
-2.75 σ
-2.19 σ
 20 Nov
Norway NORW 10.91
Fair
Fair
Fair
 11.48 12.55 11.56
-0.22 σ
-0.92 σ
-0.41 σ
 20 Nov
Italy EWI 10.70
Fair
Fair
Fair
 10.61 11.56 11.23
+0.05 σ
-0.55 σ
-0.33 σ
 20 Nov
Mexico EWW 10.69
Cheap
Cheap
Cheap
 12.87 14.43 14.27
-2.25 σ
-2.04 σ
-2.07 σ
 20 Nov
Qatar QAT 10.60
Undervalued
-
-
 13.90 - -
-1.68 σ
-
-
 20 Nov
South Korea EWY 10.60
Fair
Fair
Fair
 10.65 10.02 9.74
-0.05 σ
+0.62 σ
+0.93 σ
 20 Nov
Spain EWP 9.67
Undervalued
Undervalued
Undervalued
 11.61 12.09 11.61
-1.14 σ
-1.77 σ
-1.29 σ
 20 Nov
China FXI 9.58
Fair
Undervalued
Fair
 11.19 11.06 11.05
-0.78 σ
-1.03 σ
-0.88 σ
 20 Nov
Brazil EWZ 8.96
Fair
Fair
Fair
 8.43 10.13 9.74
+0.27 σ
-0.62 σ
-0.48 σ
 20 Nov
Poland EPOL 8.94
Fair
Undervalued
Cheap
 9.94 11.11 11.50
-0.51 σ
-1.58 σ
-2.08 σ
 20 Nov
Austria EWO 7.99
Fair
Fair
Undervalued
 8.25 9.69 10.06
-0.14 σ
-0.94 σ
-1.25 σ
 20 Nov
Colombia GXG 6.61
Fair
Undervalued
Cheap
 7.69 10.20 13.14
-0.51 σ
-1.46 σ
-2.28 σ
 20 Nov
Greece GREK 5.80
Undervalued
Cheap
Cheap
 10.27 11.32 11.35
-1.95 σ
-2.82 σ
-2.40 σ
 20 Nov
Turkey TUR 3.90
Cheap
Cheap
Cheap
 5.51 6.56 8.07
-2.17 σ
-2.26 σ
-2.57 σ
 20 Nov
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).