The table below lists the current & historical price-earnings (P/E) ratio of the global stock market. The ratio is calculated using an index of 3,000 public companies around the world based in 49 different countries. At the moment, the trailing P/E ratio of the global equity market is 16.19 (12/31/2022). The current multiple is lower than the 30-year average price-to-earnings ratio which might indicate that the global equity market as a whole is currently underpriced. The trailing P/E of the MSCI ACWI index (MSCI’s All Country World Index that is calculated using a slightly different set of companies that we are using) is 16.32 (12/31/2022).
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Global Stock Market: Price-Earnings Ratio (TTM)
| Date | Global Equity Markets P/E (TTM) | Global Equity Markets EPS (TTM) * | Developed World P/E Ratio (TTM) | Emerging Markets P/E Ratio (TTM) |
|---|---|---|---|---|
| 12/31/2022 | 16.19 | 129.84 | 17.18 | 12.18 |
| 6/30/2022 | 16.10 | 128.50 | 17.07 | 12.19 |
| 12/31/2021 | 20.76 | 124.11 | 22.67 | 14.02 |
| 6/30/2021 | 25.09 | 96.80 | 27.05 | 18.73 |
| 12/31/2020 | 26.81 | 81.04 | 28.57 | 21.28 |
| 6/30/2020 | 19.76 | 89.57 | 20.79 | 16.44 |
| 12/31/2019 | 19.02 | 100.00 | 20.24 | 15.14 |
*EPS (earnings per share) in the table above has been indexed to start from the base value of “100”.
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