The World's Most Expensive Stock Markets

Although the U.S. stock market is often viewed as expensive based on its price-to-earnings (P/E) ratio, it is not the only market trading at elevated valuations. Taiwan and New Zealand currently have higher P/E ratios than the U.S., at approximately 30 and 27, respectively, compared with 26.7 for the U.S. Other markets, including Switzerland, India, and Australia, also trade at relatively rich valuations. In contrast, countries such as China, Brazil, and Mexico have considerably lower P/E ratios, generally in the high single digits to low teens. This wide dispersion in valuations highlights the differing growth expectations, economic outlooks, and investor sentiment across global equity markets. 

Source: worldperatio.com; 7/13/2026

This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.