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 31.56
Fair
Overvalued
Expensive
 27.75 26.57 20.59
+0.82 σ
+1.18 σ
+2.06 σ
 +0.82% 11 Jul
VTI United States 25.32
Overvalued
Expensive
Expensive
 21.99 19.24 16.38
+1.73 σ
+2.52 σ
+3.50 σ
 +6.44% 11 Jul
INDA India 24.55
Overvalued
Overvalued
Expensive
 22.89 20.18 17.67
+1.40 σ
+1.82 σ
+2.58 σ
 +2.99% 11 Jul
EWL Switzerland 22.55
Overvalued
Expensive
Expensive
 19.12 17.76 15.63
+1.76 σ
+3.41 σ
+3.40 σ
 +7.13% 11 Jul
EWC Canada 21.20
Expensive
Expensive
Expensive
 15.28 14.96 14.30
+3.15 σ
+5.24 σ
+6.34 σ
 +9.46% 11 Jul
EWD Sweden 20.38
Expensive
Expensive
Expensive
 16.15 15.76 14.72
+2.15 σ
+3.49 σ
+3.93 σ
 +8.39% 11 Jul
EWA Australia 19.48
Overvalued
Expensive
Expensive
 16.96 16.11 14.66
+1.17 σ
+2.30 σ
+3.39 σ
 +4.99% 11 Jul
EWG Germany 18.73
Expensive
Expensive
Expensive
 13.89 13.33 12.35
+2.71 σ
+4.60 σ
+5.42 σ
 +17.27% 11 Jul
EWQ France 18.59
Overvalued
Expensive
Expensive
 16.37 15.08 13.18
+1.25 σ
+2.29 σ
+2.88 σ
 +9.62% 11 Jul
VNM Vietnam 17.93
Fair
-
-
 15.80 - -
+0.69 σ
-
-
 +24.12% 11 Jul
EWU United Kingdom 17.84
Expensive
Expensive
Expensive
 12.60 13.20 12.20
+2.57 σ
+3.09 σ
+3.79 σ
 +8.23% 11 Jul
EWN Netherlands 17.32
Fair
Fair
Overvalued
 18.69 16.77 14.13
-0.47 σ
+0.28 σ
+1.38 σ
 +12.34% 11 Jul
EWK Belgium 17.17
Fair
Fair
Fair
 16.33 16.88 14.64
+0.29 σ
+0.15 σ
+0.98 σ
 +10.24% 11 Jul
EWT Taiwan 16.70
Fair
Overvalued
Overvalued
 15.85 14.51 13.82
+0.39 σ
+1.26 σ
+1.90 σ
 +10.76% 11 Jul
EWH Hong Kong 15.31
Fair
Fair
Fair
 15.33 15.05 15.16
-0.02 σ
+0.30 σ
+0.16 σ
 +12.91% 11 Jul
EDEN Denmark 15.17
Fair
Undervalued
Fair
 18.29 18.45 16.55
-0.78 σ
-1.35 σ
-0.75 σ
 +2.26% 11 Jul
EWJ Japan 14.94
Fair
Fair
Fair
 14.94 14.07 14.43
-0.00 σ
+0.70 σ
+0.32 σ
 +3.60% 11 Jul
EIS Israel 14.63
Overvalued
Expensive
Expensive
 11.63 11.15 10.97
+1.71 σ
+3.14 σ
+2.43 σ
 +22.82% 11 Jul
EWS Singapore 14.49
Fair
Overvalued
Overvalued
 13.46 13.00 13.33
+0.87 σ
+1.53 σ
+1.31 σ
 +12.31% 11 Jul
THD Thailand 14.07
Undervalued
Undervalued
Fair
 18.58 17.82 15.69
-1.96 σ
-1.92 σ
-0.62 σ
 -10.60% 11 Jul
EWM Malaysia 14.00
Fair
Undervalued
Fair
 14.40 15.06 14.64
-0.49 σ
-1.40 σ
-0.77 σ
 -0.68% 11 Jul
EZA South Africa 13.65
Expensive
Fair
Overvalued
 10.34 12.20 11.80
+2.75 σ
+0.74 σ
+1.16 σ
 +10.07% 11 Jul
EIRL Ireland 13.64
Fair
Undervalued
Undervalued
 16.22 15.75 16.12
-0.92 σ
-1.16 σ
-1.01 σ
 +7.30% 11 Jul
EWI Italy 13.10
Overvalued
Overvalued
Overvalued
 10.62 11.43 11.16
+1.39 σ
+1.12 σ
+1.23 σ
 +16.89% 11 Jul
EWW Mexico 12.59
Fair
Fair
Fair
 12.62 13.97 14.23
-0.03 σ
-0.80 σ
-0.93 σ
 +12.26% 11 Jul
EPOL Poland 12.43
Overvalued
Overvalued
Fair
 10.10 10.98 11.48
+1.13 σ
+1.09 σ
+0.76 σ
 +23.30% 11 Jul
EWP Spain 11.95
Fair
Fair
Fair
 11.47 11.84 11.54
+0.31 σ
+0.09 σ
+0.28 σ
 +20.22% 11 Jul
NORW Norway 11.79
Fair
Fair
Fair
 11.05 12.52 11.54
+0.33 σ
-0.40 σ
+0.16 σ
 +11.45% 11 Jul
EWY South Korea 11.73
Overvalued
Overvalued
Expensive
 10.48 10.04 9.81
+1.08 σ
+1.78 σ
+2.17 σ
 +23.60% 11 Jul
ECH Chile 11.72
Fair
Fair
Undervalued
 10.38 13.13 14.65
+0.48 σ
-0.52 σ
-1.62 σ
 +7.46% 11 Jul
ARGT Argentina 11.66
Fair
Fair
Fair
 12.10 12.03 10.51
-0.28 σ
-0.29 σ
+0.49 σ
 -2.34% 11 Jul
QAT Qatar 11.60
Fair
-
-
 13.51 - -
-0.87 σ
-
-
 +2.90% 11 Jul
EPU Perù 11.57
Fair
Fair
Fair
 12.36 12.61 12.39
-0.36 σ
-0.72 σ
-0.54 σ
 +12.03% 11 Jul
EIDO Indonesia 11.36
Undervalued
Cheap
Undervalued
 13.43 14.28 13.61
-1.34 σ
-2.18 σ
-1.75 σ
 -4.18% 11 Jul
EWO Austria 11.23
Overvalued
Fair
Fair
 8.28 9.55 9.94
+1.61 σ
+0.97 σ
+0.81 σ
 +22.39% 11 Jul
GREK Greece 10.68
Fair
Fair
Fair
 9.72 11.18 11.12
+0.43 σ
-0.24 σ
-0.19 σ
 +33.59% 11 Jul
TUR Turkey 10.54
Expensive
Expensive
Overvalued
 5.49 6.40 7.94
+5.60 σ
+3.57 σ
+1.61 σ
 -2.47% 11 Jul
EWZ Brazil 10.40
Overvalued
Fair
Fair
 8.01 9.97 9.84
+1.76 σ
+0.23 σ
+0.37 σ
 +4.15% 11 Jul
FXI China 9.94
Fair
Fair
Fair
 10.85 11.05 11.02
-0.45 σ
-0.78 σ
-0.64 σ
 +8.96% 11 Jul
EPHE Philippines 9.93
Undervalued
Cheap
Cheap
 13.77 15.51 15.28
-1.53 σ
-2.49 σ
-2.60 σ
 +3.29% 11 Jul
GXG Colombia 8.24
Fair
Fair
Undervalued
 7.43 9.68 12.74
+0.43 σ
-0.62 σ
-1.52 σ
 +12.29% 11 Jul
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).