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 31.17
Fair
Overvalued
Expensive
 27.84 26.46 20.50
+0.70 σ
+1.11 σ
+2.01 σ
 -1.20% 13 Jun
VTI United States 24.21
Overvalued
Expensive
Expensive
 21.93 19.17 16.35
+1.22 σ
+2.14 σ
+3.12 σ
 +2.64% 13 Jun
INDA India 24.17
Overvalued
Overvalued
Expensive
 22.84 20.11 17.62
+1.16 σ
+1.71 σ
+2.47 σ
 +0.99% 13 Jun
EWL Switzerland 22.77
Overvalued
Expensive
Expensive
 19.06 17.71 15.60
+1.97 σ
+3.74 σ
+3.55 σ
 +8.67% 13 Jun
EWC Canada 21.08
Expensive
Expensive
Expensive
 15.24 14.95 14.29
+3.21 σ
+5.25 σ
+6.32 σ
 +10.19% 13 Jun
EWD Sweden 20.34
Expensive
Expensive
Expensive
 16.14 15.73 14.70
+2.15 σ
+3.59 σ
+3.96 σ
 +9.10% 13 Jun
EWA Australia 19.45
Overvalued
Expensive
Expensive
 16.96 16.06 14.64
+1.16 σ
+2.37 σ
+3.43 σ
 +4.93% 13 Jun
EWQ France 18.40
Overvalued
Expensive
Expensive
 16.36 15.05 13.15
+1.16 σ
+2.22 σ
+2.82 σ
 +9.28% 13 Jun
EWG Germany 18.31
Expensive
Expensive
Expensive
 13.89 13.30 12.33
+2.48 σ
+4.40 σ
+5.15 σ
 +17.43% 13 Jun
EWU United Kingdom 18.06
Expensive
Expensive
Expensive
 12.57 13.19 12.18
+2.76 σ
+3.29 σ
+3.99 σ
 +10.28% 13 Jun
EWK Belgium 17.28
Fair
Fair
Overvalued
 16.35 16.88 14.62
+0.32 σ
+0.21 σ
+1.03 σ
 +11.81% 13 Jun
EWN Netherlands 17.04
Fair
Fair
Overvalued
 18.76 16.76 14.10
-0.59 σ
+0.14 σ
+1.28 σ
 +11.47% 13 Jun
EWT Taiwan 16.00
Fair
Fair
Overvalued
 15.84 14.47 13.80
+0.07 σ
+0.88 σ
+1.46 σ
 +7.00% 13 Jun
EDEN Denmark 15.99
Fair
Undervalued
Fair
 18.51 18.49 16.54
-0.61 σ
-1.04 σ
-0.30 σ
 +6.47% 13 Jun
VNM Vietnam 15.34
Fair
-
-
 15.83 - -
-0.16 σ
-
-
 +7.29% 13 Jun
EWJ Japan 15.19
Fair
Fair
Fair
 14.96 14.07 14.43
+0.15 σ
+0.91 σ
+0.48 σ
 +5.78% 13 Jun
EWH Hong Kong 15.05
Fair
Fair
Fair
 15.34 15.06 15.16
-0.29 σ
-0.01 σ
-0.12 σ
 +13.13% 13 Jun
THD Thailand 14.42
Undervalued
Undervalued
Fair
 18.73 17.85 15.67
-1.91 σ
-1.78 σ
-0.48 σ
 -10.30% 13 Jun
EWS Singapore 14.21
Fair
Overvalued
Overvalued
 13.47 12.98 13.33
+0.63 σ
+1.27 σ
+1.01 σ
 +12.15% 13 Jun
EWM Malaysia 14.11
Fair
Undervalued
Fair
 14.44 15.07 14.63
-0.39 σ
-1.29 σ
-0.63 σ
 -0.62% 13 Jun
EIRL Ireland 13.74
Fair
Undervalued
Fair
 16.39 15.79 16.11
-0.92 σ
-1.13 σ
-0.96 σ
 +7.78% 13 Jun
EZA South Africa 13.73
Expensive
Fair
Overvalued
 10.31 12.21 11.78
+3.02 σ
+0.77 σ
+1.22 σ
 +12.12% 13 Jun
EWI Italy 12.95
Overvalued
Overvalued
Overvalued
 10.64 11.44 11.16
+1.27 σ
+1.01 σ
+1.13 σ
 +17.93% 13 Jun
EWW Mexico 12.78
Fair
Fair
Fair
 12.66 14.02 14.23
+0.12 σ
-0.71 σ
-0.82 σ
 +15.35% 13 Jun
EIS Israel 12.57
Fair
Overvalued
Overvalued
 11.60 11.13 10.97
+0.57 σ
+1.33 σ
+1.06 σ
 +9.07% 13 Jun
ARGT Argentina 12.52
Fair
Fair
Fair
 12.12 11.99 10.49
+0.25 σ
+0.39 σ
+0.86 σ
 +7.01% 13 Jun
NORW Norway 12.36
Fair
Fair
Fair
 11.13 12.52 11.55
+0.51 σ
-0.09 σ
+0.51 σ
 +18.49% 13 Jun
ECH Chile 12.23
Fair
Fair
Undervalued
 10.44 13.16 14.67
+0.63 σ
-0.34 σ
-1.36 σ
 +13.98% 13 Jun
EIDO Indonesia 11.83
Undervalued
Undervalued
Undervalued
 13.52 14.31 13.61
-1.09 σ
-1.89 σ
-1.37 σ
 -2.37% 13 Jun
EWP Spain 11.70
Fair
Fair
Fair
 11.53 11.86 11.54
+0.11 σ
-0.13 σ
+0.11 σ
 +20.65% 13 Jun
EPOL Poland 11.62
Fair
Fair
Fair
 10.09 10.99 11.48
+0.75 σ
+0.48 σ
+0.11 σ
 +18.18% 13 Jun
EPU Perù 11.44
Fair
Fair
Fair
 12.42 12.62 12.41
-0.45 σ
-0.82 σ
-0.63 σ
 +12.77% 13 Jun
QAT Qatar 11.27
Undervalued
-
-
 13.56 - -
-1.05 σ
-
-
 +0.25% 13 Jun
EWO Austria 11.04
Overvalued
Fair
Fair
 8.30 9.56 9.95
+1.47 σ
+0.84 σ
+0.68 σ
 +23.20% 13 Jun
EWY South Korea 10.74
Fair
Fair
Overvalued
 10.50 10.02 9.79
+0.21 σ
+0.77 σ
+1.07 σ
 +14.47% 13 Jun
EWZ Brazil 10.63
Overvalued
Fair
Fair
 8.04 9.99 9.82
+1.84 σ
+0.34 σ
+0.53 σ
 +5.92% 13 Jun
EPHE Philippines 10.12
Undervalued
Cheap
Cheap
 13.90 15.59 15.29
-1.53 σ
-2.48 σ
-2.52 σ
 +4.89% 13 Jun
FXI China 9.97
Fair
Fair
Fair
 10.95 11.06 11.02
-0.47 σ
-0.76 σ
-0.62 σ
 +12.40% 13 Jun
GREK Greece 9.81
Fair
Fair
Fair
 9.79 11.19 11.14
+0.00 σ
-0.67 σ
-0.58 σ
 +26.74% 13 Jun
TUR Turkey 9.77
Expensive
Expensive
Overvalued
 5.47 6.40 7.94
+5.01 σ
+2.90 σ
+1.13 σ
 -10.83% 13 Jun
GXG Colombia 8.31
Fair
Fair
Undervalued
 7.45 9.74 12.77
+0.45 σ
-0.60 σ
-1.52 σ
 +15.61% 13 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).