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Market Valuation

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Different valuation factors applied to global markets.

Green areas indicate undervaluation. Yellow areas indicate fair valuation. Any other area indicates overvaluation.

More info in the post CAPE and other market valuation factors post.

Charts: select an area to zoom in / double click to reset zoom.

CAPE@2025-12-31

56.06VERY HIGH

The cyclically-adjusted price-to-earnings (CAPE), as defined by Robert Shiller, calculated not with the S&P500, but with all listed companies weighted by size   –

Stats
Average = 37.08
Moving average (20 points) = 55.89
Correlation w/ other market factors
0.98803   with EV/FCFF (10 acct. periods)
0.75742   with P/FCFE (10 acct. periods)
0.99321   with EV/FCFF (10 acct. periods)
0.77852   with P/FCFE (10 acct. periods)

EV/FCFF (10 acct. periods)@2025-12-31

99.99

Size-weighted average enterprise value (EV) in relation to the size-weighted moving average (10 years) free cash flow to the firm (FCFF) of all the companies in the selected market.   –

Stats
Average = 77.18
Moving average (20 points) = 99.88
Correlation w/ other market factors
0.98803   with CAPE
0.67512   with P/FCFE (10 acct. periods)
0.99321   with CAPE
0.75087   with P/FCFE (10 acct. periods)

P/FCFE (10 acct. periods)@2025-12-31

65.60VERY HIGH

Size-weighted average market capitalization (P) in relation to the size-weighted moving average (10 years) free cash flow to equity (FCFE) of all the companies in the selected market.   –

Stats
Average = 47.60
Moving average (20 points) = 65.40
Correlation w/ other market factors
0.75742   with CAPE
0.67512   with EV/FCFF (10 acct. periods)
0.77852   with CAPE
0.75087   with EV/FCFF (10 acct. periods)
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