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 31.84
Fair
Overvalued
Expensive
 27.59 26.20 20.32
+0.92 σ
+1.34 σ
+2.22 σ
 -14.83% 07 Apr
VTI United States 22.68
Fair
Overvalued
Expensive
 21.73 19.03 16.28
+0.51 σ
+1.61 σ
+2.62 σ
 -12.73% 07 Apr
EWL Switzerland 22.67
Expensive
Expensive
Expensive
 18.87 17.64 15.54
+2.24 σ
+4.03 σ
+3.58 σ
 -5.67% 07 Apr
INDA India 22.04
Fair
Fair
Overvalued
 22.66 19.96 17.52
-0.51 σ
+0.89 σ
+1.73 σ
 -9.28% 07 Apr
EWC Canada 18.17
Overvalued
Expensive
Expensive
 15.11 14.94 14.26
+1.82 σ
+2.80 σ
+3.72 σ
 -6.62% 07 Apr
EWA Australia 17.61
Fair
Overvalued
Expensive
 16.83 15.99 14.59
+0.37 σ
+1.21 σ
+2.19 σ
 -16.71% 07 Apr
EWQ France 17.32
Fair
Overvalued
Expensive
 16.21 15.02 13.10
+0.65 σ
+1.59 σ
+2.33 σ
 -6.58% 07 Apr
EWD Sweden 17.17
Fair
Overvalued
Overvalued
 16.07 15.69 14.66
+0.59 σ
+1.22 σ
+1.80 σ
 -8.42% 07 Apr
EWG Germany 16.88
Overvalued
Expensive
Expensive
 13.79 13.28 12.30
+1.83 σ
+3.31 σ
+4.03 σ
 +1.07% 07 Apr
EWK Belgium 16.88
Fair
Fair
Fair
 16.22 16.86 14.54
+0.23 σ
+0.01 σ
+0.91 σ
 -5.91% 07 Apr
EWU United Kingdom 16.85
Expensive
Expensive
Expensive
 12.50 13.18 12.15
+2.33 σ
+2.49 σ
+3.25 σ
 -7.51% 07 Apr
EWN Netherlands 14.97
Undervalued
Fair
Fair
 18.82 16.77 14.04
-1.34 σ
-0.91 σ
+0.40 σ
 -11.07% 07 Apr
EWT Taiwan 14.88
Fair
Fair
Fair
 15.75 14.40 13.76
-0.40 σ
+0.28 σ
+0.75 σ
 -20.50% 07 Apr
EWH Hong Kong 14.68
Fair
Fair
Fair
 15.28 15.08 15.16
-0.58 σ
-0.45 σ
-0.51 σ
 -6.85% 07 Apr
EDEN Denmark 14.41
Undervalued
Undervalued
Undervalued
 18.91 18.58 16.53
-1.04 σ
-1.74 σ
-1.14 σ
 -19.98% 07 Apr
THD Thailand 14.08
Cheap
Cheap
Fair
 18.85 17.91 15.62
-2.23 σ
-2.02 σ
-0.58 σ
 -21.47% 07 Apr
EWM Malaysia 14.03
Fair
Undervalued
Fair
 14.48 15.08 14.62
-0.51 σ
-1.42 σ
-0.70 σ
 -10.49% 07 Apr
EWJ Japan 13.80
Fair
Fair
Fair
 14.89 14.07 14.44
-0.69 σ
-0.22 σ
-0.40 σ
 -11.05% 07 Apr
EWS Singapore 13.35
Fair
Fair
Fair
 13.37 12.97 13.32
-0.02 σ
+0.40 σ
+0.04 σ
 -4.47% 07 Apr
VNM Vietnam 12.83
Undervalued
-
-
 15.96 - -
-1.00 σ
-
-
 -7.24% 07 Apr
EZA South Africa 12.21
Expensive
Fair
Fair
 10.19 12.23 11.74
+2.05 σ
-0.01 σ
+0.30 σ
 -11.68% 07 Apr
EIS Israel 11.86
Fair
Fair
Fair
 11.50 11.10 10.98
+0.22 σ
+0.73 σ
+0.58 σ
 -1.44% 07 Apr
EPU Perù 11.81
Fair
Fair
Fair
 12.34 12.63 12.42
-0.24 σ
-0.56 σ
-0.39 σ
 -6.36% 07 Apr
ECH Chile 11.74
Fair
Fair
Undervalued
 10.41 13.22 14.70
+0.47 σ
-0.54 σ
-1.65 σ
 +1.55% 07 Apr
EWI Italy 11.71
Fair
Fair
Fair
 10.62 11.45 11.16
+0.61 σ
+0.17 σ
+0.34 σ
 -3.10% 07 Apr
EIRL Ireland 11.55
Undervalued
Cheap
Undervalued
 16.68 15.90 16.12
-1.77 σ
-2.38 σ
-1.85 σ
 -14.00% 07 Apr
QAT Qatar 11.50
Fair
-
-
 13.63 - -
-0.99 σ
-
-
 -3.85% 07 Apr
NORW Norway 11.17
Fair
Fair
Fair
 11.28 12.54 11.54
-0.04 σ
-0.76 σ
-0.24 σ
 -8.65% 07 Apr
ARGT Argentina 11.14
Fair
Fair
Fair
 12.10 11.90 10.47
-0.61 σ
-0.55 σ
+0.29 σ
 -4.02% 07 Apr
EPOL Poland 11.13
Fair
Fair
Fair
 10.02 11.00 11.48
+0.56 σ
+0.10 σ
-0.28 σ
 +2.39% 07 Apr
EIDO Indonesia 10.93
Undervalued
Cheap
Cheap
 13.55 14.37 13.59
-1.69 σ
-2.69 σ
-2.01 σ
 -23.01% 07 Apr
EWP Spain 10.69
Fair
Fair
Fair
 11.61 11.91 11.55
-0.54 σ
-0.95 σ
-0.58 σ
 +2.31% 07 Apr
EWW Mexico 10.57
Undervalued
Undervalued
Cheap
 12.67 14.12 14.22
-1.99 σ
-1.96 σ
-2.05 σ
 -7.93% 07 Apr
TUR Turkey 10.45
Expensive
Expensive
Overvalued
 5.41 6.40 7.94
+6.52 σ
+3.49 σ
+1.54 σ
 -13.21% 07 Apr
EWO Austria 9.85
Fair
Fair
Fair
 8.25 9.58 9.96
+0.88 σ
+0.15 σ
-0.07 σ
 -0.25% 07 Apr
EWZ Brazil 9.77
Overvalued
Fair
Fair
 8.08 10.03 9.78
+1.12 σ
-0.14 σ
-0.01 σ
 -11.10% 07 Apr
EPHE Philippines 9.76
Undervalued
Cheap
Cheap
 13.98 15.75 15.30
-1.73 σ
-2.83 σ
-2.73 σ
 -7.12% 07 Apr
FXI China 9.46
Fair
Undervalued
Fair
 11.01 11.08 11.02
-0.74 σ
-1.13 σ
-0.93 σ
 -1.57% 07 Apr
EWY South Korea 8.98
Undervalued
Undervalued
Fair
 10.54 10.02 9.78
-1.34 σ
-1.11 σ
-0.89 σ
 -14.82% 07 Apr
GREK Greece 8.11
Fair
Undervalued
Undervalued
 9.86 11.17 11.19
-0.77 σ
-1.46 σ
-1.32 σ
 -2.50% 07 Apr
GXG Colombia 7.56
Fair
Fair
Undervalued
 7.42 9.85 12.87
+0.08 σ
-0.95 σ
-1.80 σ
 +4.01% 07 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).