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 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 30.58 |
Fair
|
Fair
|
Overvalued
|
27.31 | 27.06 | 20.99 |
+0.79 σ
|
+0.86 σ
|
+1.75 σ
|
+3.35% | 11 Dec |
|
|
VTI | United States | 28.24 |
Expensive
|
Expensive
|
Expensive
|
22.34 | 19.68 | 16.58 |
+2.60 σ
|
+3.22 σ
|
+4.25 σ
|
+11.40% | 11 Dec |
|
|
INDA | India | 24.44 |
Overvalued
|
Overvalued
|
Expensive
|
23.05 | 20.52 | 17.90 |
+1.14 σ
|
+1.60 σ
|
+2.37 σ
|
+0.78% | 11 Dec |
|
|
EWL | Switzerland | 22.91 |
Overvalued
|
Expensive
|
Expensive
|
19.43 | 18.04 | 15.76 |
+1.64 σ
|
+2.96 σ
|
+3.37 σ
|
+7.07% | 11 Dec |
|
|
EWD | Sweden | 20.88 |
Expensive
|
Expensive
|
Expensive
|
16.35 | 15.99 | 14.82 |
+2.05 σ
|
+3.32 σ
|
+3.98 σ
|
+8.91% | 11 Dec |
|
|
EWA | Australia | 20.61 |
Overvalued
|
Expensive
|
Expensive
|
17.08 | 16.36 | 14.77 |
+1.53 σ
|
+2.60 σ
|
+3.75 σ
|
+3.45% | 11 Dec |
|
|
EWC | Canada | 20.29 |
Expensive
|
Expensive
|
Expensive
|
15.57 | 15.15 | 14.37 |
+2.11 σ
|
+3.62 σ
|
+5.12 σ
|
+16.44% | 11 Dec |
|
|
EWT | Taiwan | 19.64 |
Overvalued
|
Expensive
|
Expensive
|
15.93 | 14.80 | 13.95 |
+1.66 σ
|
+2.80 σ
|
+3.56 σ
|
+14.78% | 11 Dec |
|
|
EWU | United Kingdom | 19.57 |
Expensive
|
Expensive
|
Expensive
|
12.97 | 13.30 | 12.28 |
+2.61 σ
|
+3.82 σ
|
+4.62 σ
|
+8.61% | 11 Dec |
|
|
VNM | Vietnam | 19.23 |
Overvalued
|
-
|
-
|
15.83 | - | - |
+1.10 σ
|
-
|
-
|
+18.94% | 11 Dec |
|
|
EWQ | France | 19.08 |
Overvalued
|
Expensive
|
Expensive
|
16.48 | 15.29 | 13.31 |
+1.39 σ
|
+2.29 σ
|
+2.88 σ
|
+5.58% | 11 Dec |
|
|
EWK | Belgium | 18.57 |
Fair
|
Fair
|
Overvalued
|
16.19 | 16.86 | 14.78 |
+0.87 σ
|
+0.88 σ
|
+1.47 σ
|
+10.00% | 11 Dec |
|
|
EWG | Germany | 18.38 |
Expensive
|
Expensive
|
Expensive
|
14.04 | 13.51 | 12.42 |
+2.17 σ
|
+3.56 σ
|
+4.69 σ
|
+4.31% | 11 Dec |
|
|
EWH | Hong Kong | 18.26 |
Expensive
|
Expensive
|
Expensive
|
15.42 | 15.16 | 15.20 |
+2.62 σ
|
+3.46 σ
|
+3.15 σ
|
+9.55% | 11 Dec |
|
|
EWN | Netherlands | 17.75 |
Fair
|
Fair
|
Overvalued
|
18.27 | 16.84 | 14.26 |
-0.18 σ
|
+0.46 σ
|
+1.50 σ
|
+11.56% | 11 Dec |
|
|
EIS | Israel | 17.40 |
Expensive
|
Expensive
|
Expensive
|
11.83 | 11.27 | 10.98 |
+2.96 σ
|
+5.06 σ
|
+4.21 σ
|
+23.82% | 11 Dec |
|
|
EWJ | Japan | 16.94 |
Overvalued
|
Expensive
|
Overvalued
|
14.86 | 14.19 | 14.44 |
+1.43 σ
|
+2.05 σ
|
+1.57 σ
|
+11.02% | 11 Dec |
|
|
EWS | Singapore | 16.63 |
Expensive
|
Expensive
|
Expensive
|
13.59 | 13.16 | 13.36 |
+2.31 σ
|
+3.44 σ
|
+3.55 σ
|
+5.13% | 11 Dec |
|
|
ARGT | Argentina | 16.46 |
Expensive
|
Expensive
|
Expensive
|
12.38 | 12.30 | 10.59 |
+2.39 σ
|
+3.37 σ
|
+2.43 σ
|
+9.58% | 11 Dec |
|
|
EDEN | Denmark | 15.46 |
Fair
|
Undervalued
|
Fair
|
17.16 | 18.24 | 16.54 |
-0.50 σ
|
-1.07 σ
|
-0.58 σ
|
+5.41% | 11 Dec |
|
|
EZA | South Africa | 15.32 |
Expensive
|
Overvalued
|
Expensive
|
10.49 | 12.09 | 11.86 |
+3.22 σ
|
+1.69 σ
|
+2.13 σ
|
+24.09% | 11 Dec |
|
|
EWM | Malaysia | 14.95 |
Fair
|
Fair
|
Fair
|
14.29 | 15.06 | 14.67 |
+0.91 σ
|
-0.16 σ
|
+0.34 σ
|
+9.02% | 11 Dec |
|
|
EIRL | Ireland | 14.66 |
Fair
|
Fair
|
Fair
|
15.50 | 15.63 | 16.15 |
-0.35 σ
|
-0.52 σ
|
-0.61 σ
|
+13.20% | 11 Dec |
|
|
THD | Thailand | 14.59 |
Undervalued
|
Undervalued
|
Fair
|
17.87 | 17.59 | 15.78 |
-1.40 σ
|
-1.51 σ
|
-0.48 σ
|
+6.89% | 11 Dec |
|
|
ECH | Chile | 14.53 |
Overvalued
|
Fair
|
Fair
|
10.14 | 13.10 | 14.58 |
+1.78 σ
|
+0.52 σ
|
-0.02 σ
|
+21.59% | 11 Dec |
|
|
EWO | Austria | 14.10 |
Expensive
|
Expensive
|
Expensive
|
8.35 | 9.59 | 9.94 |
+2.95 σ
|
+2.53 σ
|
+2.60 σ
|
+17.76% | 11 Dec |
|
|
NORW | Norway | 13.80 |
Overvalued
|
Fair
|
Overvalued
|
10.80 | 12.58 | 11.55 |
+1.54 σ
|
+0.68 σ
|
+1.43 σ
|
+4.19% | 11 Dec |
|
|
EPU | Perù | 13.71 |
Fair
|
Fair
|
Fair
|
12.10 | 12.69 | 12.32 |
+0.83 σ
|
+0.72 σ
|
+0.96 σ
|
+34.05% | 11 Dec |
|
|
EWW | Mexico | 13.70 |
Overvalued
|
Fair
|
Fair
|
12.54 | 13.75 | 14.26 |
+1.26 σ
|
-0.03 σ
|
-0.32 σ
|
+16.83% | 11 Dec |
|
|
EWP | Spain | 13.64 |
Overvalued
|
Overvalued
|
Overvalued
|
11.30 | 11.81 | 11.54 |
+1.87 σ
|
+1.55 σ
|
+1.42 σ
|
+18.87% | 11 Dec |
|
|
EWI | Italy | 13.38 |
Overvalued
|
Overvalued
|
Overvalued
|
10.61 | 11.41 | 11.16 |
+1.56 σ
|
+1.34 σ
|
+1.41 σ
|
+11.91% | 11 Dec |
|
|
EWY | South Korea | 13.38 |
Expensive
|
Expensive
|
Expensive
|
10.45 | 10.14 | 9.88 |
+2.55 σ
|
+3.22 σ
|
+3.84 σ
|
+31.85% | 11 Dec |
|
|
EIDO | Indonesia | 12.98 |
Fair
|
Fair
|
Fair
|
13.06 | 14.23 | 13.64 |
-0.06 σ
|
-0.89 σ
|
-0.53 σ
|
+5.91% | 11 Dec |
|
|
TUR | Turkey | 12.59 |
Expensive
|
Expensive
|
Expensive
|
5.79 | 6.41 | 7.94 |
+4.73 σ
|
+5.30 σ
|
+2.87 σ
|
+4.82% | 11 Dec |
|
|
EPOL | Poland | 12.49 |
Overvalued
|
Overvalued
|
Fair
|
10.16 | 11.00 | 11.46 |
+1.11 σ
|
+1.11 σ
|
+0.84 σ
|
+12.73% | 11 Dec |
|
|
QAT | Qatar | 12.01 |
Fair
|
-
|
-
|
13.29 | - | - |
-0.59 σ
|
-
|
-
|
+2.14% | 11 Dec |
|
|
GREK | Greece | 11.26 |
Fair
|
Fair
|
Fair
|
9.56 | 11.28 | 11.03 |
+0.83 σ
|
-0.01 σ
|
+0.10 σ
|
+16.45% | 11 Dec |
|
|
FXI | China | 10.92 |
Fair
|
Fair
|
Fair
|
10.45 | 11.14 | 11.03 |
+0.31 σ
|
-0.16 σ
|
-0.07 σ
|
+4.15% | 11 Dec |
|
|
EWZ | Brazil | 10.82 |
Expensive
|
Fair
|
Fair
|
7.97 | 9.96 | 9.93 |
+2.26 σ
|
+0.46 σ
|
+0.61 σ
|
+16.33% | 11 Dec |
|
|
EPHE | Philippines | 9.42 |
Undervalued
|
Cheap
|
Cheap
|
13.12 | 15.12 | 15.24 |
-1.41 σ
|
-2.32 σ
|
-2.74 σ
|
-3.39% | 11 Dec |
|
|
GXG | Colombia | 9.37 |
Overvalued
|
Fair
|
Undervalued
|
7.29 | 9.51 | 12.53 |
+1.26 σ
|
-0.06 σ
|
-1.09 σ
|
+22.02% | 10 Dec |
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).