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
Country Trend P/E▾ 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years
India INDA 27.13
Expensive
Expensive
Expensive
 22.01 19.49 17.17
+3.51 σ
+3.49 σ
+3.96 σ
 13 Sep
New Zealand ENZL 25.97
Fair
Fair
Overvalued
 27.32 25.60 19.83
-0.31 σ
+0.09 σ
+1.22 σ
 13 Sep
United States VTI 25.83
Expensive
Expensive
Expensive
 20.71 18.54 16.06
+2.77 σ
+3.60 σ
+4.49 σ
 13 Sep
Australia EWA 21.98
Expensive
Expensive
Expensive
 16.36 15.67 14.49
+3.17 σ
+5.80 σ
+5.89 σ
 13 Sep
Taiwan EWT 21.60
Expensive
Expensive
Expensive
 15.41 14.06 13.54
+3.17 σ
+5.04 σ
+5.96 σ
 13 Sep
Denmark EDEN 20.71
Fair
Fair
Expensive
 19.52 18.59 16.44
+0.28 σ
+0.90 σ
+2.31 σ
 13 Sep
Switzerland EWL 18.88
Fair
Overvalued
Overvalued
 18.29 17.39 15.37
+0.44 σ
+1.40 σ
+1.86 σ
 13 Sep
France EWQ 18.64
Overvalued
Expensive
Expensive
 15.65 14.76 12.97
+1.66 σ
+2.92 σ
+3.43 σ
 13 Sep
Belgium EWK 18.63
Fair
Fair
Overvalued
 16.00 16.89 14.38
+0.92 σ
+0.91 σ
+1.67 σ
 13 Sep
Canada EWC 18.20
Expensive
Expensive
Expensive
 14.56 14.78 14.17
+2.72 σ
+3.27 σ
+4.10 σ
 13 Sep
Thailand THD 17.88
Fair
Fair
Fair
 19.02 17.97 15.41
-0.58 σ
-0.05 σ
+0.88 σ
 13 Sep
Netherlands EWN 17.60
Fair
Fair
Overvalued
 19.01 16.76 13.94
-0.53 σ
+0.42 σ
+1.58 σ
 13 Sep
Japan EWJ 17.29
Overvalued
Expensive
Overvalued
 14.69 13.99 14.48
+1.66 σ
+2.83 σ
+1.77 σ
 13 Sep
Perù EPU 17.26
Expensive
Expensive
Expensive
 11.98 12.57 12.48
+2.65 σ
+3.36 σ
+2.91 σ
 13 Sep
United Kingdom EWU 16.62
Expensive
Expensive
Expensive
 11.97 13.07 12.15
+3.27 σ
+2.60 σ
+3.11 σ
 13 Sep
Malaysia EWM 16.50
Expensive
Overvalued
Expensive
 14.48 15.08 14.56
+2.21 σ
+1.93 σ
+2.24 σ
 13 Sep
Ireland EIRL 15.76
Fair
Fair
Fair
 16.90 16.16 16.11
-0.41 σ
-0.22 σ
-0.14 σ
 13 Sep
Germany EWG 15.36
Overvalued
Expensive
Expensive
 13.39 13.08 12.24
+1.29 σ
+2.42 σ
+2.94 σ
 13 Sep
Vietnam VNM 15.31
Fair
-
-
 16.45 - -
-0.37 σ
-
-
 13 Sep
Sweden EWD 14.93
Fair
Fair
Fair
 15.99 15.72 14.62
-0.60 σ
-0.69 σ
+0.23 σ
 13 Sep
Hong Kong EWH 14.02
Undervalued
Undervalued
Undervalued
 15.14 15.02 15.19
-1.03 σ
-1.15 σ
-1.24 σ
 13 Sep
South Africa EZA 13.19
Expensive
Fair
Fair
 10.05 12.35 11.62
+3.49 σ
+0.40 σ
+0.99 σ
 13 Sep
South Korea EWY 12.99
Expensive
Expensive
Expensive
 10.63 9.97 9.71
+2.11 σ
+3.33 σ
+3.57 σ
 13 Sep
Singapore EWS 12.74
Fair
Fair
Fair
 13.20 12.95 13.30
-0.38 σ
-0.23 σ
-0.66 σ
 13 Sep
Argentina ARGT 12.66
Fair
Fair
Overvalued
 11.86 11.48 10.31
+0.69 σ
+0.78 σ
+1.07 σ
 13 Sep
Indonesia EIDO 12.58
Fair
Undervalued
Fair
 13.89 14.56 13.54
-0.89 σ
-1.79 σ
-0.68 σ
 13 Sep
Mexico EWW 12.53
Fair
Undervalued
Undervalued
 12.94 14.55 14.26
-0.43 σ
-1.09 σ
-1.00 σ
 13 Sep
Israel EIS 12.45
Fair
Overvalued
Fair
 11.06 10.91 10.99
+0.87 σ
+1.73 σ
+0.94 σ
 13 Sep
Chile ECH 11.95
Fair
Fair
Undervalued
 10.76 13.49 14.87
+0.38 σ
-0.56 σ
-1.77 σ
 13 Sep
Italy EWI 11.45
Fair
Fair
Fair
 10.60 11.59 11.26
+0.47 σ
-0.09 σ
+0.12 σ
 13 Sep
Norway NORW 11.41
Fair
Fair
Fair
 11.57 12.55 11.57
-0.06 σ
-0.64 σ
-0.10 σ
 13 Sep
Qatar QAT 10.85
Undervalued
-
-
 14.01 - -
-1.68 σ
-
-
 13 Sep
Philippines EPHE 10.80
Undervalued
Cheap
Cheap
 14.57 16.30 15.32
-1.78 σ
-3.08 σ
-2.27 σ
 13 Sep
Poland EPOL 10.50
Fair
Fair
Fair
 9.94 11.17 11.52
+0.28 σ
-0.48 σ
-0.83 σ
 13 Sep
Spain EWP 9.79
Undervalued
Undervalued
Undervalued
 11.66 12.18 11.64
-1.12 σ
-1.74 σ
-1.24 σ
 13 Sep
China FXI 9.24
Fair
Undervalued
Undervalued
 11.20 11.04 11.05
-0.96 σ
-1.23 σ
-1.09 σ
 13 Sep
Brazil EWZ 8.56
Fair
Fair
Fair
 8.57 10.17 9.72
-0.00 σ
-0.86 σ
-0.70 σ
 13 Sep
Austria EWO 8.07
Fair
Fair
Undervalued
 8.29 9.75 10.11
-0.11 σ
-0.93 σ
-1.22 σ
 13 Sep
Turkey TUR 7.91
Expensive
Overvalued
Fair
 5.52 6.62 8.12
+3.43 σ
+1.07 σ
-0.13 σ
 13 Sep
Greece GREK 6.94
Undervalued
Cheap
Undervalued
 10.51 11.46 11.41
-1.59 σ
-2.39 σ
-1.96 σ
 13 Sep
Colombia GXG 5.95
Fair
Undervalued
Cheap
 7.89 10.37 13.26
-0.90 σ
-1.82 σ
-2.59 σ
 13 Sep
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).