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 32.73
Overvalued
Overvalued
Expensive
 27.84 26.46 20.50
+1.03 σ
+1.47 σ
+2.31 σ
 -1.30% 04 Jun
INDA India 25.16
Expensive
Expensive
Expensive
 22.84 20.11 17.62
+2.02 σ
+2.13 σ
+2.85 σ
 +0.64% 04 Jun
VTI United States 24.19
Overvalued
Expensive
Expensive
 21.93 19.17 16.35
+1.21 σ
+2.13 σ
+3.12 σ
 +2.80% 04 Jun
EWL Switzerland 23.69
Expensive
Expensive
Expensive
 19.06 17.71 15.60
+2.47 σ
+4.42 σ
+4.01 σ
 +9.63% 04 Jun
EWC Canada 20.79
Expensive
Expensive
Expensive
 15.24 14.95 14.29
+3.05 σ
+5.00 σ
+6.05 σ
 +9.22% 04 Jun
EWD Sweden 20.54
Expensive
Expensive
Expensive
 16.14 15.73 14.70
+2.25 σ
+3.75 σ
+4.10 σ
 +10.59% 04 Jun
EWA Australia 20.13
Overvalued
Expensive
Expensive
 16.96 16.06 14.64
+1.47 σ
+2.84 σ
+3.91 σ
 +5.12% 04 Jun
EWK Belgium 18.78
Fair
Fair
Overvalued
 16.35 16.88 14.62
+0.85 σ
+0.97 σ
+1.61 σ
 +11.92% 04 Jun
EWQ France 18.51
Overvalued
Expensive
Expensive
 16.36 15.05 13.15
+1.22 σ
+2.29 σ
+2.88 σ
 +10.28% 04 Jun
EWU United Kingdom 18.28
Expensive
Expensive
Expensive
 12.57 13.19 12.18
+2.87 σ
+3.43 σ
+4.13 σ
 +10.02% 04 Jun
EWG Germany 17.98
Expensive
Expensive
Expensive
 13.89 13.30 12.33
+2.29 σ
+4.10 σ
+4.86 σ
 +21.35% 04 Jun
EWN Netherlands 16.12
Fair
Fair
Fair
 18.76 16.76 14.10
-0.91 σ
-0.32 σ
+0.88 σ
 +11.12% 04 Jun
VNM Vietnam 15.82
Fair
-
-
 15.83 - -
-0.00 σ
-
-
 +14.53% 04 Jun
EWT Taiwan 15.74
Fair
Fair
Overvalued
 15.84 14.47 13.80
-0.05 σ
+0.73 σ
+1.28 σ
 +3.47% 04 Jun
EDEN Denmark 15.62
Fair
Undervalued
Fair
 18.51 18.49 16.54
-0.70 σ
-1.19 σ
-0.50 σ
 +1.89% 04 Jun
EWH Hong Kong 14.80
Fair
Fair
Fair
 15.34 15.06 15.16
-0.54 σ
-0.30 σ
-0.38 σ
 +12.20% 04 Jun
EWS Singapore 14.43
Fair
Overvalued
Overvalued
 13.47 12.98 13.33
+0.81 σ
+1.50 σ
+1.26 σ
 +14.90% 04 Jun
EWJ Japan 14.36
Fair
Fair
Fair
 14.96 14.07 14.43
-0.39 σ
+0.23 σ
-0.05 σ
 +6.64% 04 Jun
EWM Malaysia 14.24
Fair
Undervalued
Fair
 14.44 15.07 14.63
-0.24 σ
-1.11 σ
-0.47 σ
 -1.20% 04 Jun
THD Thailand 14.00
Cheap
Undervalued
Fair
 18.73 17.85 15.67
-2.10 σ
-2.00 σ
-0.64 σ
 -10.29% 04 Jun
EZA South Africa 13.77
Expensive
Fair
Overvalued
 10.31 12.21 11.78
+3.05 σ
+0.79 σ
+1.25 σ
 +13.03% 04 Jun
EPU Perù 13.06
Fair
Fair
Fair
 12.42 12.62 12.41
+0.29 σ
+0.30 σ
+0.42 σ
 +13.00% 04 Jun
EWI Italy 13.03
Overvalued
Overvalued
Overvalued
 10.64 11.44 11.16
+1.32 σ
+1.06 σ
+1.18 σ
 +19.77% 04 Jun
EIS Israel 13.02
Fair
Overvalued
Overvalued
 11.60 11.13 10.97
+0.83 σ
+1.74 σ
+1.36 σ
 +15.04% 04 Jun
EWW Mexico 12.80
Fair
Fair
Fair
 12.66 14.02 14.23
+0.14 σ
-0.69 σ
-0.81 σ
 +14.25% 04 Jun
ARGT Argentina 12.64
Fair
Fair
Fair
 12.12 11.99 10.49
+0.33 σ
+0.48 σ
+0.92 σ
 +9.22% 04 Jun
ECH Chile 12.43
Fair
Fair
Undervalued
 10.44 13.16 14.67
+0.70 σ
-0.27 σ
-1.24 σ
 +14.94% 04 Jun
EIRL Ireland 12.31
Undervalued
Undervalued
Undervalued
 16.39 15.79 16.11
-1.41 σ
-1.91 σ
-1.54 σ
 +5.73% 04 Jun
EPOL Poland 11.76
Fair
Fair
Fair
 10.09 10.99 11.48
+0.81 σ
+0.58 σ
+0.22 σ
 +20.53% 04 Jun
QAT Qatar 11.75
Fair
-
-
 13.56 - -
-0.83 σ
-
-
 +4.42% 04 Jun
NORW Norway 11.74
Fair
Fair
Fair
 11.13 12.52 11.55
+0.25 σ
-0.44 σ
+0.12 σ
 +13.11% 04 Jun
EIDO Indonesia 11.73
Undervalued
Undervalued
Undervalued
 13.52 14.31 13.61
-1.16 σ
-1.97 σ
-1.45 σ
 -3.79% 04 Jun
EWP Spain 11.65
Fair
Fair
Fair
 11.53 11.86 11.54
+0.07 σ
-0.17 σ
+0.07 σ
 +21.80% 04 Jun
EWO Austria 10.66
Overvalued
Fair
Fair
 8.30 9.56 9.95
+1.26 σ
+0.63 σ
+0.44 σ
 +24.37% 04 Jun
EWZ Brazil 10.36
Overvalued
Fair
Fair
 8.04 9.99 9.82
+1.65 σ
+0.20 σ
+0.35 σ
 +2.93% 04 Jun
EWY South Korea 10.35
Fair
Fair
Fair
 10.50 10.02 9.79
-0.13 σ
+0.35 σ
+0.63 σ
 +10.28% 04 Jun
FXI China 10.26
Fair
Fair
Fair
 10.95 11.06 11.02
-0.33 σ
-0.56 σ
-0.45 σ
 +13.06% 04 Jun
TUR Turkey 10.21
Expensive
Expensive
Overvalued
 5.47 6.40 7.94
+5.53 σ
+3.28 σ
+1.40 σ
 -9.61% 04 Jun
EPHE Philippines 10.12
Undervalued
Cheap
Cheap
 13.90 15.59 15.29
-1.53 σ
-2.48 σ
-2.52 σ
 +4.96% 04 Jun
GREK Greece 9.67
Fair
Fair
Fair
 9.79 11.19 11.14
-0.05 σ
-0.73 σ
-0.63 σ
 +26.39% 04 Jun
GXG Colombia 8.38
Fair
Fair
Undervalued
 7.45 9.74 12.77
+0.49 σ
-0.57 σ
-1.49 σ
 +17.45% 04 Jun
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).