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
New Zealand ENZL 27.35
Fair
Fair
Overvalued
27.15 25.31 19.60
+0.05 σ
+0.48 σ
+1.57 σ
24 Jun
United States VTI 24.69
Expensive
Expensive
Expensive
20.34 18.33 15.97
+2.30 σ
+3.27 σ
+4.23 σ
24 Jun
India INDA 24.26
Overvalued
Expensive
Expensive
21.64 19.26 17.02
+1.69 σ
+2.35 σ
+2.92 σ
24 Jun
Taiwan EWT 20.87
Expensive
Expensive
Expensive
15.16 13.96 13.45
+3.22 σ
+5.03 σ
+5.72 σ
24 Jun
Australia EWA 19.89
Expensive
Expensive
Expensive
16.12 15.55 14.44
+2.37 σ
+4.41 σ
+4.41 σ
24 Jun
Denmark EDEN 19.28
Fair
Fair
Overvalued
19.48 18.52 16.37
-0.05 σ
+0.32 σ
+1.62 σ
24 Jun
Switzerland EWL 17.84
Fair
Fair
Overvalued
18.18 17.30 15.32
-0.26 σ
+0.51 σ
+1.37 σ
24 Jun
France EWQ 17.79
Overvalued
Expensive
Expensive
15.38 14.64 12.94
+1.35 σ
+2.52 σ
+3.03 σ
24 Jun
Thailand THD 17.14
Fair
Fair
Fair
19.02 17.87 15.29
-0.96 σ
-0.38 σ
+0.65 σ
24 Jun
Canada EWC 16.98
Expensive
Expensive
Expensive
14.34 14.73 14.14
+2.22 σ
+2.26 σ
+2.97 σ
24 Jun
Perù EPU 16.41
Expensive
Expensive
Expensive
11.83 12.52 12.48
+2.58 σ
+2.89 σ
+2.39 σ
24 Jun
Netherlands EWN 16.34
Fair
Fair
Overvalued
18.90 16.68 13.87
-0.93 σ
-0.17 σ
+1.08 σ
24 Jun
Japan EWJ 16.03
Overvalued
Overvalued
Fair
14.42 13.90 14.48
+1.05 σ
+1.97 σ
+0.97 σ
24 Jun
Belgium EWK 15.76
Fair
Fair
Fair
15.93 16.88 14.30
-0.06 σ
-0.59 σ
+0.57 σ
24 Jun
Vietnam VNM 15.67
Fair
-
-
16.58 - -
-0.29 σ
-
-
24 Jun
Ireland EIRL 15.62
Fair
Fair
Fair
16.73 16.19 16.06
-0.39 σ
-0.31 σ
-0.18 σ
24 Jun
Sweden EWD 14.39
Fair
Undervalued
Fair
15.98 15.73 14.61
-0.89 σ
-1.19 σ
-0.16 σ
24 Jun
Hong Kong EWH 14.14
Fair
Undervalued
Undervalued
15.14 15.03 15.18
-0.92 σ
-1.03 σ
-1.11 σ
24 Jun
United Kingdom EWU 13.70
Overvalued
Fair
Overvalued
11.84 13.03 12.16
+1.42 σ
+0.50 σ
+1.06 σ
24 Jun
Germany EWG 13.42
Fair
Fair
Overvalued
13.25 13.02 12.23
+0.12 σ
+0.44 σ
+1.15 σ
24 Jun
Mexico EWW 12.64
Fair
Undervalued
Fair
12.96 14.73 14.26
-0.36 σ
-1.11 σ
-0.93 σ
24 Jun
Argentina ARGT 12.08
Fair
Fair
Fair
11.87 11.33 10.26
+0.18 σ
+0.46 σ
+0.84 σ
24 Jun
Israel EIS 11.91
Fair
Overvalued
Fair
10.94 10.86 11.03
+0.62 σ
+1.22 σ
+0.55 σ
24 Jun
South Korea EWY 11.90
Overvalued
Expensive
Expensive
10.55 9.91 9.65
+1.28 σ
+2.36 σ
+2.47 σ
24 Jun
South Africa EZA 11.87
Overvalued
Fair
Fair
10.06 12.42 11.57
+1.98 σ
-0.26 σ
+0.19 σ
24 Jun
Singapore EWS 11.82
Undervalued
Undervalued
Undervalued
13.19 12.99 13.31
-1.13 σ
-1.29 σ
-1.77 σ
24 Jun
Norway NORW 11.61
Fair
Fair
Fair
11.66 12.57 11.57
-0.02 σ
-0.55 σ
+0.03 σ
24 Jun
Indonesia EIDO 11.36
Undervalued
Cheap
Undervalued
14.07 14.61 13.51
-1.89 σ
-3.15 σ
-1.48 σ
24 Jun
Chile ECH 11.27
Fair
Fair
Cheap
10.92 13.59 14.90
+0.11 σ
-0.85 σ
-2.24 σ
24 Jun
Egypt EGPT 10.80
Expensive
Overvalued
Fair
7.17 8.50 9.25
+4.59 σ
+1.69 σ
+0.90 σ
04 Apr
Poland EPOL 10.54
Fair
Fair
Fair
9.96 11.25 11.54
+0.29 σ
-0.50 σ
-0.82 σ
24 Jun
Philippines EPHE 10.01
Cheap
Cheap
Cheap
14.90 16.51 15.32
-2.54 σ
-4.05 σ
-2.67 σ
24 Jun
Qatar QAT 9.93
Cheap
-
-
14.17 - -
-2.48 σ
-
-
24 Jun
Spain EWP 9.75
Undervalued
Undervalued
Undervalued
11.72 12.31 11.69
-1.21 σ
-1.84 σ
-1.30 σ
24 Jun
Italy EWI 9.74
Fair
Undervalued
Fair
10.61 11.68 11.31
-0.48 σ
-1.22 σ
-0.93 σ
24 Jun
China FXI 9.41
Fair
Undervalued
Undervalued
11.30 11.03 11.07
-0.96 σ
-1.10 σ
-1.01 σ
24 Jun
Malaysia EWM 8.26
Cheap
Cheap
Cheap
14.60 15.11 14.54
-7.09 σ
-9.90 σ
-7.21 σ
24 Jun
Turkey TUR 8.00
Expensive
Overvalued
Fair
5.49 6.66 8.17
+3.80 σ
+1.05 σ
-0.10 σ
24 Jun
Brazil EWZ 7.51
Fair
Undervalued
Undervalued
8.85 10.27 9.70
-0.61 σ
-1.53 σ
-1.31 σ
24 Jun
Austria EWO 7.16
Fair
Undervalued
Undervalued
8.37 9.87 10.19
-0.64 σ
-1.51 σ
-1.80 σ
24 Jun
Greece GREK 6.86
Undervalued
Cheap
Cheap
10.88 11.68 11.50
-1.87 σ
-2.67 σ
-2.08 σ
24 Jun
Colombia GXG 5.56
Undervalued
Cheap
Cheap
8.17 10.64 13.45
-1.21 σ
-2.13 σ
-2.84 σ
24 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).
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).