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
+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 27.49
Expensive
Expensive
Expensive
20.99 18.68 16.12
+3.63 σ
+4.22 σ
+5.05 σ
06 Nov
India INDA 25.93
Expensive
Expensive
Expensive
22.25 19.64 17.27
+2.63 σ
+2.81 σ
+3.41 σ
06 Nov
New Zealand ENZL 24.48
Fair
Fair
Fair
27.28 25.70 19.94
-0.64 σ
-0.29 σ
+0.90 σ
06 Nov
Switzerland EWL 23.00
Expensive
Expensive
Expensive
18.41 17.46 15.42
+3.32 σ
+5.18 σ
+3.97 σ
06 Nov
Australia EWA 20.78
Expensive
Expensive
Expensive
16.49 15.77 14.52
+2.27 σ
+4.33 σ
+4.82 σ
06 Nov
Taiwan EWT 19.66
Overvalued
Expensive
Expensive
15.57 14.15 13.61
+1.97 σ
+3.47 σ
+4.34 σ
06 Nov
Canada EWC 19.07
Expensive
Expensive
Expensive
14.70 14.84 14.20
+3.05 σ
+3.91 σ
+4.87 σ
06 Nov
Denmark EDEN 18.27
Fair
Fair
Fair
19.50 18.63 16.49
-0.28 σ
-0.15 σ
+0.95 σ
06 Nov
Belgium EWK 17.56
Fair
Fair
Overvalued
16.11 16.93 14.45
+0.50 σ
+0.33 σ
+1.22 σ
06 Nov
Perù EPU 17.22
Expensive
Expensive
Expensive
12.15 12.60 12.48
+2.32 σ
+3.22 σ
+2.88 σ
06 Nov
Thailand THD 17.18
Fair
Fair
Fair
19.00 18.02 15.49
-0.92 σ
-0.46 σ
+0.61 σ
06 Nov
France EWQ 17.05
Fair
Overvalued
Expensive
15.83 14.86 13.01
+0.69 σ
+1.62 σ
+2.38 σ
06 Nov
Argentina ARGT 16.97
Expensive
Expensive
Expensive
11.86 11.58 10.34
+4.36 σ
+3.75 σ
+2.99 σ
06 Nov
United Kingdom EWU 15.94
Expensive
Overvalued
Expensive
12.09 13.12 12.15
+2.52 σ
+2.00 σ
+2.63 σ
06 Nov
Hong Kong EWH 15.57
Fair
Fair
Fair
15.24 15.06 15.19
+0.31 σ
+0.58 σ
+0.40 σ
06 Nov
Malaysia EWM 15.14
Fair
Fair
Fair
14.48 15.08 14.58
+0.72 σ
+0.08 σ
+0.65 σ
06 Nov
Vietnam VNM 14.99
Fair
-
-
16.34 - -
-0.43 σ
-
-
06 Nov
Germany EWG 14.60
Fair
Overvalued
Expensive
13.50 13.15 12.26
+0.69 σ
+1.48 σ
+2.17 σ
06 Nov
Ireland EIRL 14.31
Fair
Fair
Fair
16.89 16.12 16.12
-0.92 σ
-0.99 σ
-0.74 σ
06 Nov
South Africa EZA 13.99
Expensive
Fair
Overvalued
10.05 12.35 11.67
+4.38 σ
+0.79 σ
+1.46 σ
06 Nov
Sweden EWD 13.73
Undervalued
Undervalued
Fair
16.01 15.71 14.63
-1.28 σ
-1.72 σ
-0.66 σ
06 Nov
Israel EIS 13.53
Overvalued
Expensive
Overvalued
11.18 10.97 10.99
+1.43 σ
+2.74 σ
+1.65 σ
06 Nov
Netherlands EWN 13.47
Cheap
Undervalued
Fair
19.02 16.80 13.99
-2.08 σ
-1.70 σ
-0.22 σ
06 Nov
Indonesia EIDO 12.69
Fair
Undervalued
Fair
13.81 14.53 13.57
-0.76 σ
-1.63 σ
-0.65 σ
06 Nov
Japan EWJ 12.31
Undervalued
Undervalued
Undervalued
14.77 14.02 14.47
-1.52 σ
-1.41 σ
-1.35 σ
06 Nov
Singapore EWS 12.24
Fair
Fair
Undervalued
13.23 12.94 13.30
-0.83 σ
-0.77 σ
-1.24 σ
06 Nov
Chile ECH 11.49
Fair
Fair
Undervalued
10.61 13.42 14.82
+0.29 σ
-0.71 σ
-1.98 σ
06 Nov
Qatar QAT 11.39
Undervalued
-
-
13.90 - -
-1.28 σ
-
-
06 Nov
Mexico EWW 11.17
Undervalued
Undervalued
Undervalued
12.87 14.43 14.27
-1.75 σ
-1.78 σ
-1.79 σ
06 Nov
Italy EWI 10.75
Fair
Fair
Fair
10.61 11.56 11.23
+0.07 σ
-0.52 σ
-0.30 σ
06 Nov
Philippines EPHE 10.65
Undervalued
Cheap
Cheap
14.38 16.14 15.32
-1.67 σ
-2.91 σ
-2.34 σ
06 Nov
South Korea EWY 10.60
Fair
Fair
Fair
10.65 10.02 9.74
-0.05 σ
+0.62 σ
+0.93 σ
06 Nov
Norway NORW 10.40
Fair
Undervalued
Fair
11.48 12.55 11.56
-0.42 σ
-1.21 σ
-0.74 σ
06 Nov
Poland EPOL 9.76
Fair
Fair
Undervalued
9.94 11.11 11.50
-0.09 σ
-0.98 σ
-1.42 σ
06 Nov
Spain EWP 9.68
Undervalued
Undervalued
Undervalued
11.61 12.09 11.61
-1.13 σ
-1.76 σ
-1.28 σ
06 Nov
China FXI 9.45
Fair
Undervalued
Fair
11.19 11.06 11.05
-0.85 σ
-1.12 σ
-0.96 σ
06 Nov
Brazil EWZ 9.02
Fair
Fair
Fair
8.43 10.13 9.74
+0.30 σ
-0.59 σ
-0.45 σ
06 Nov
Austria EWO 7.72
Fair
Undervalued
Undervalued
8.25 9.69 10.06
-0.28 σ
-1.09 σ
-1.41 σ
06 Nov
Greece GREK 6.10
Undervalued
Cheap
Cheap
10.27 11.32 11.35
-1.81 σ
-2.66 σ
-2.26 σ
06 Nov
Colombia GXG 6.04
Fair
Undervalued
Cheap
7.69 10.20 13.14
-0.79 σ
-1.69 σ
-2.48 σ
06 Nov
Turkey TUR 4.09
Undervalued
Cheap
Cheap
5.51 6.56 8.07
-1.91 σ
-2.09 σ
-2.44 σ
06 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).