The table below shows the current & historical price-earning (P/E) ratios of the European stock market. The ratios have been calculated using the STOXX Europe 600 index that represents large, mid and small cap companies based on seventeen different European countries, including the United Kingdom. The current trailing P/E ratio of the European equity market is 15.00 and the forward P/E is 12.81 (January 1st, 2024). The equities in the old continent are considerably cheaper compared to the U.S. when measured across all valuation metrics. However, the market structure is quite different between the continents (especially when it comes to the Technology and Communications sectors) and the overall market valuations should not be directly compared with each other.
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Europe Market Valuation: Trailing 12 Months & Forward P/E Ratios
*EPS (earnings per share) in the table above has been indexed to start from the base value of “100” in 1/1/2020.
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