Global Equity Valuations by Country
Every country’s CAPE ratio, ranked cheapest to most expensive. The percentile column is the one to read: it shows where each market sits against its own history, so a low ratio only counts as cheap if it is also low for that country. Tap any column heading to re-sort.
Latest observation: June 2026
| # | Data | ||||
|---|---|---|---|---|---|
| 1 | China | 12.0 | −39% | 11th percentile | Estimate |
| 2 | United Kingdom | 18.5 | −26% | 21st percentile | Estimate |
| 3 | Australia | 20.5 | −18% | 15th percentile | Estimate |
| 4 | Spain | 21.4 | +1% | 59th percentile | Estimate |
| 5 | Germany | 21.5 | −3% | 52nd percentile | Estimate |
| 6 | Italy | 23.3 | −16% | 59th percentile | Estimate |
| 7 | France | 24.2 | +1% | 69th percentile | Estimate |
| 8 | Sweden | 26.4 | +17% | 84th percentile | Estimate |
| 9 | Switzerland | 28.5 | +18% | 85th percentile | Estimate |
| 10 | Canada | 29.7 | +48% | 99th percentile | Estimate |
| 11 | Japan | 30.9 | +75% | 100th percentile | Estimate |
| 12 | Netherlands | 35.5 | +41% | 86th percentile | Estimate |
| 13 | India | 35.6 | +22% | 91st percentile | Estimate |
| 14 | United States | 41.4 | +138% | 99th percentile | ✓ Real |
| 15 | Taiwan | 45.0 | +78% | 99th percentile | Estimate |
| 16 | South Korea | 56.6 | +220% | 100th percentile | Estimate |
Reading the colours: green marks markets in the cheaper third of their own history, red the more expensive third.
Only the US series is a measured CAPE (from Robert Shiller). Country rows marked Estimate are built from free ETF price proxies and an anchored level — each country page’s methodology notes spell out the assumptions.