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 20.76 (12/31/2021). The current multiple is higher than the 30-year average price-to-earnings ratio which might indicate that the global equities are currently overpriced. 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 20.35 (12/31/2021).
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Global Stock Market: Price-to-Earnings Ratio (TTM)
| Date | Global Equity Markets P/E (TTM) | MSCI World (Developed) Index P/E Ratio (TTM) | MSCI Emerging Markets P/E Ratio (TTM) |
|---|---|---|---|
| 12/31/2021 | 20.76 | 22.67 | 14.02 |
| 6/30/2021 | 25.15 | 27.05 | 19.00 |
| 12/31/2020 | 27.03 | 28.86 | 21.26 |
| 6/30/2020 | 19.63 | 20.61 | 16.04 |
| 12/31/2019 | 18.99 | 20.25 | 15.02 |
| 6/30/2019 | 17.21 | 18.43 | 13.26 |
| 12/31/2018 | 15.12 | 16.09 | 12.00 |
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