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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@2026-01-14

56.13VERY 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 = 37.13
Moving average (20 points) = 56.08
Correlation w/ other market factors
0.98808   with EV/FCFF (10 acct. periods)
0.75822   with P/FCFE (10 acct. periods)
0.99326   with EV/FCFF (10 acct. periods)
0.77843   with P/FCFE (10 acct. periods)

EV/FCFF (10 acct. periods)@2026-01-14

100.10

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 = 77.27
Moving average (20 points) = 100.11
Correlation w/ other market factors
0.98808   with CAPE
0.67683   with P/FCFE (10 acct. periods)
0.99326   with CAPE
0.75102   with P/FCFE (10 acct. periods)

P/FCFE (10 acct. periods)@2026-01-14

65.14VERY 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 = 47.56
Moving average (20 points) = 65.08
Correlation w/ other market factors
0.75822   with CAPE
0.67683   with EV/FCFF (10 acct. periods)
0.77843   with CAPE
0.75102   with EV/FCFF (10 acct. periods)
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