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
New Zealand ENZL 34.49
Overvalued
Expensive
Expensive
 27.39 25.91 20.09
+1.59 σ
+2.06 σ
+2.83 σ
 22 Jan
United States VTI 26.23
Expensive
Expensive
Expensive
 21.28 18.82 16.18
+2.78 σ
+3.45 σ
+4.31 σ
 22 Jan
India INDA 23.94
Overvalued
Overvalued
Expensive
 22.45 19.79 17.37
+1.13 σ
+1.82 σ
+2.56 σ
 22 Jan
Switzerland EWL 22.07
Expensive
Expensive
Expensive
 18.55 17.54 15.47
+2.37 σ
+4.07 σ
+3.39 σ
 22 Jan
Australia EWA 20.66
Expensive
Expensive
Expensive
 16.61 15.88 14.55
+2.02 σ
+3.88 σ
+4.61 σ
 22 Jan
France EWQ 18.85
Overvalued
Expensive
Expensive
 15.94 14.93 13.05
+1.64 σ
+2.85 σ
+3.33 σ
 22 Jan
Taiwan EWT 18.82
Overvalued
Expensive
Expensive
 15.64 14.25 13.67
+1.50 σ
+2.77 σ
+3.59 σ
 22 Jan
Canada EWC 18.78
Expensive
Expensive
Expensive
 14.83 14.91 14.23
+2.59 σ
+3.47 σ
+4.47 σ
 22 Jan
Germany EWG 17.41
Expensive
Expensive
Expensive
 13.58 13.23 12.27
+2.34 σ
+4.09 σ
+4.66 σ
 22 Jan
Argentina ARGT 16.94
Expensive
Expensive
Expensive
 11.91 11.70 10.40
+4.01 σ
+3.82 σ
+2.89 σ
 22 Jan
United Kingdom EWU 16.79
Expensive
Expensive
Expensive
 12.22 13.16 12.15
+2.71 σ
+2.51 σ
+3.22 σ
 22 Jan
Denmark EDEN 16.57
Fair
Fair
Fair
 19.30 18.63 16.51
-0.63 σ
-0.87 σ
+0.03 σ
 22 Jan
Thailand THD 16.15
Undervalued
Undervalued
Fair
 18.92 18.01 15.56
-1.36 σ
-1.02 σ
+0.22 σ
 22 Jan
Malaysia EWM 15.62
Overvalued
Fair
Overvalued
 14.47 15.09 14.60
+1.28 σ
+0.72 σ
+1.20 σ
 22 Jan
Japan EWJ 15.58
Fair
Overvalued
Fair
 14.81 14.05 14.45
+0.48 σ
+1.25 σ
+0.71 σ
 22 Jan
Sweden EWD 15.11
Fair
Fair
Fair
 15.92 15.68 14.62
-0.44 σ
-0.48 σ
+0.35 σ
 22 Jan
Netherlands EWN 15.06
Undervalued
Fair
Fair
 18.92 16.80 14.00
-1.38 σ
-0.88 σ
+0.46 σ
 22 Jan
Hong Kong EWH 15.03
Fair
Fair
Fair
 15.25 15.06 15.18
-0.21 σ
-0.04 σ
-0.16 σ
 22 Jan
Belgium EWK 14.92
Fair
Undervalued
Fair
 16.08 16.91 14.48
-0.40 σ
-1.02 σ
+0.17 σ
 22 Jan
Vietnam VNM 14.53
Fair
-
-
 16.20 - -
-0.54 σ
-
-
 22 Jan
Ireland EIRL 14.26
Fair
Fair
Fair
 16.77 16.04 16.12
-0.88 σ
-0.97 σ
-0.76 σ
 22 Jan
Israel EIS 14.19
Overvalued
Expensive
Expensive
 11.30 11.02 10.98
+1.71 σ
+3.21 σ
+2.09 σ
 22 Jan
Singapore EWS 14.12
Fair
Overvalued
Fair
 13.24 12.94 13.30
+0.74 σ
+1.29 σ
+0.96 σ
 22 Jan
Perù EPU 13.73
Fair
Fair
Fair
 12.23 12.61 12.46
+0.66 σ
+0.77 σ
+0.78 σ
 22 Jan
South Africa EZA 12.97
Expensive
Fair
Fair
 10.06 12.31 11.70
+3.19 σ
+0.32 σ
+0.80 σ
 22 Jan
Indonesia EIDO 11.90
Undervalued
Cheap
Undervalued
 13.68 14.48 13.58
-1.18 σ
-2.18 σ
-1.26 σ
 22 Jan
Poland EPOL 11.46
Fair
Fair
Fair
 9.88 11.03 11.48
+0.80 σ
+0.31 σ
-0.02 σ
 22 Jan
Spain EWP 11.12
Fair
Fair
Fair
 11.53 12.01 11.58
-0.24 σ
-0.65 σ
-0.31 σ
 22 Jan
Mexico EWW 11.03
Undervalued
Undervalued
Undervalued
 12.78 14.32 14.25
-1.71 σ
-1.79 σ
-1.85 σ
 22 Jan
Qatar QAT 10.98
Undervalued
-
-
 13.78 - -
-1.36 σ
-
-
 22 Jan
Italy EWI 10.65
Fair
Fair
Fair
 10.55 11.52 11.19
+0.06 σ
-0.55 σ
-0.33 σ
 22 Jan
Chile ECH 10.60
Fair
Fair
Cheap
 10.48 13.33 14.77
+0.04 σ
-0.99 σ
-2.41 σ
 22 Jan
Norway NORW 10.45
Fair
Undervalued
Fair
 11.37 12.55 11.56
-0.36 σ
-1.18 σ
-0.70 σ
 22 Jan
Philippines EPHE 10.18
Undervalued
Cheap
Cheap
 14.16 15.99 15.32
-1.71 σ
-2.94 σ
-2.58 σ
 22 Jan
China FXI 9.76
Fair
Fair
Fair
 11.10 11.07 11.03
-0.64 σ
-0.92 σ
-0.76 σ
 22 Jan
South Korea EWY 9.65
Fair
Fair
Fair
 10.58 10.02 9.76
-0.79 σ
-0.40 σ
-0.12 σ
 22 Jan
Austria EWO 9.27
Fair
Fair
Fair
 8.17 9.64 10.01
+0.60 σ
-0.20 σ
-0.45 σ
 22 Jan
Brazil EWZ 7.95
Fair
Undervalued
Undervalued
 8.24 10.08 9.75
-0.17 σ
-1.12 σ
-1.13 σ
 22 Jan
Greece GREK 7.90
Fair
Undervalued
Undervalued
 10.02 11.23 11.28
-0.91 σ
-1.63 σ
-1.44 σ
 22 Jan
Colombia GXG 6.43
Fair
Undervalued
Cheap
 7.50 10.07 13.02
-0.54 σ
-1.47 σ
-2.27 σ
 22 Jan
Turkey TUR 4.83
Fair
Undervalued
Undervalued
 5.44 6.48 8.01
-0.79 σ
-1.41 σ
-1.95 σ
 22 Jan
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).