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 32.78
Overvalued
Overvalued
Expensive
 27.46 26.08 20.23
+1.17 σ
+1.60 σ
+2.44 σ
 -8.67% 25 Mar
VTI United States 26.06
Expensive
Expensive
Expensive
 21.56 18.96 16.24
+2.36 σ
+3.20 σ
+4.08 σ
 +0.30% 25 Mar
EWL Switzerland 23.92
Expensive
Expensive
Expensive
 18.77 17.60 15.52
+3.18 σ
+5.30 σ
+4.25 σ
 +6.41% 25 Mar
INDA India 23.44
Fair
Overvalued
Expensive
 22.59 19.91 17.47
+0.69 σ
+1.52 σ
+2.30 σ
 -4.19% 25 Mar
EWC Canada 20.06
Expensive
Expensive
Expensive
 14.97 14.94 14.25
+3.06 σ
+4.43 σ
+5.58 σ
 +3.45% 25 Mar
EWD Sweden 19.04
Overvalued
Expensive
Expensive
 15.97 15.68 14.64
+1.61 σ
+2.79 σ
+3.17 σ
 +9.59% 25 Mar
EWQ France 18.87
Overvalued
Expensive
Expensive
 16.08 15.00 13.08
+1.54 σ
+2.72 σ
+3.23 σ
 +7.04% 25 Mar
EWK Belgium 18.32
Fair
Fair
Overvalued
 16.07 16.87 14.52
+0.77 σ
+0.75 σ
+1.49 σ
 +3.87% 25 Mar
EWA Australia 18.11
Fair
Overvalued
Expensive
 16.74 15.98 14.58
+0.64 σ
+1.61 σ
+2.60 σ
 -5.13% 25 Mar
EWT Taiwan 17.79
Fair
Overvalued
Expensive
 15.72 14.36 13.74
+0.95 σ
+1.99 σ
+2.73 σ
 -5.01% 25 Mar
EWU United Kingdom 17.75
Expensive
Expensive
Expensive
 12.37 13.18 12.15
+2.94 σ
+3.11 σ
+3.89 σ
 +4.75% 25 Mar
EWG Germany 17.60
Expensive
Expensive
Expensive
 13.67 13.27 12.29
+2.29 σ
+4.02 σ
+4.73 σ
 +16.49% 25 Mar
ARGT Argentina 16.64
Expensive
Expensive
Expensive
 12.05 11.84 10.45
+3.04 σ
+3.50 σ
+2.68 σ
 +19.58% 25 Mar
EWN Netherlands 15.41
Undervalued
Fair
Fair
 18.82 16.79 14.03
-1.19 σ
-0.71 σ
+0.60 σ
 +0.91% 25 Mar
EDEN Denmark 15.16
Fair
Undervalued
Fair
 19.06 18.62 16.53
-0.91 σ
-1.47 σ
-0.74 σ
 -9.40% 25 Mar
EWH Hong Kong 14.86
Fair
Fair
Fair
 15.25 15.08 15.17
-0.37 σ
-0.25 σ
-0.33 σ
 +5.42% 25 Mar
THD Thailand 14.65
Cheap
Undervalued
Fair
 18.88 17.94 15.60
-2.01 σ
-1.75 σ
-0.35 σ
 -11.04% 25 Mar
EWJ Japan 14.30
Fair
Fair
Fair
 14.86 14.09 14.45
-0.34 σ
+0.17 σ
-0.09 σ
 +3.92% 25 Mar
EWM Malaysia 14.24
Fair
Undervalued
Fair
 14.45 15.09 14.61
-0.24 σ
-1.16 σ
-0.44 σ
 -4.65% 25 Mar
VNM Vietnam 14.20
Fair
-
-
 16.05 - -
-0.59 σ
-
-
 +5.23% 25 Mar
EWS Singapore 13.82
Fair
Fair
Fair
 13.31 12.96 13.32
+0.42 σ
+0.91 σ
+0.58 σ
 +11.45% 25 Mar
EIS Israel 13.38
Overvalued
Expensive
Overvalued
 11.40 11.08 10.98
+1.13 σ
+2.23 σ
+1.57 σ
 +10.11% 25 Mar
EPU Perù 13.27
Fair
Fair
Fair
 12.27 12.63 12.44
+0.44 σ
+0.44 σ
+0.53 σ
 +8.68% 25 Mar
EZA South Africa 13.13
Expensive
Fair
Fair
 10.10 12.26 11.72
+3.12 σ
+0.43 σ
+0.89 σ
 +4.33% 25 Mar
EWI Italy 12.96
Overvalued
Fair
Overvalued
 10.53 11.47 11.17
+1.35 σ
+0.97 σ
+1.13 σ
 +14.13% 25 Mar
EIRL Ireland 12.46
Undervalued
Undervalued
Undervalued
 16.68 15.95 16.12
-1.45 σ
-1.92 σ
-1.48 σ
 -5.13% 25 Mar
NORW Norway 12.24
Fair
Fair
Fair
 11.29 12.54 11.54
+0.37 σ
-0.17 σ
+0.44 σ
 +8.24% 25 Mar
EPOL Poland 12.11
Overvalued
Fair
Fair
 9.94 11.01 11.48
+1.08 σ
+0.81 σ
+0.50 σ
 +22.37% 25 Mar
ECH Chile 12.01
Fair
Fair
Undervalued
 10.35 13.26 14.72
+0.58 σ
-0.45 σ
-1.53 σ
 +15.76% 25 Mar
QAT Qatar 11.34
Undervalued
-
-
 13.68 - -
-1.10 σ
-
-
 +0.37% 25 Mar
EWP Spain 11.29
Fair
Fair
Fair
 11.58 11.95 11.56
-0.17 σ
-0.50 σ
-0.18 σ
 +15.97% 25 Mar
EWW Mexico 11.05
Undervalued
Undervalued
Undervalued
 12.67 14.19 14.23
-1.54 σ
-1.73 σ
-1.80 σ
 -0.66% 25 Mar
EWZ Brazil 10.73
Overvalued
Fair
Fair
 8.05 10.04 9.76
+1.83 σ
+0.36 σ
+0.61 σ
 -2.28% 25 Mar
EWY South Korea 10.39
Fair
Fair
Fair
 10.52 10.02 9.77
-0.11 σ
+0.39 σ
+0.69 σ
 -5.02% 25 Mar
FXI China 9.88
Fair
Fair
Fair
 11.02 11.08 11.03
-0.55 σ
-0.84 σ
-0.68 σ
 +20.59% 25 Mar
EWO Austria 9.76
Fair
Fair
Fair
 8.18 9.61 9.98
+0.86 σ
+0.08 σ
-0.13 σ
 +15.87% 25 Mar
EPHE Philippines 9.55
Undervalued
Cheap
Cheap
 13.98 15.83 15.31
-1.82 σ
-3.03 σ
-2.86 σ
 -2.94% 25 Mar
TUR Turkey 9.51
Expensive
Expensive
Fair
 5.37 6.40 7.95
+5.49 σ
+2.68 σ
+0.95 σ
 -12.05% 25 Mar
EIDO Indonesia 9.27
Cheap
Cheap
Cheap
 13.55 14.41 13.59
-2.77 σ
-4.11 σ
-3.27 σ
 -20.66% 25 Mar
GREK Greece 8.85
Fair
Undervalued
Undervalued
 9.85 11.18 11.22
-0.44 σ
-1.12 σ
-1.01 σ
 +16.67% 25 Mar
GXG Colombia 7.36
Fair
Undervalued
Undervalued
 7.38 9.93 12.91
-0.01 σ
-1.05 σ
-1.90 σ
 +12.81% 25 Mar
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).