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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@2026-02-06

55.68VERY 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 = 37.35
Moving average (20 points) = 55.85
Correlation w/ other market factors
0.98887   with EV/FCFF (10 acct. periods)
0.76702   with P/FCFE (10 acct. periods)
0.99337   with EV/FCFF (10 acct. periods)
0.78494   with P/FCFE (10 acct. periods)

EV/FCFF (10 acct. periods)@2026-02-06

100.29

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 = 77.54
Moving average (20 points) = 100.46
Correlation w/ other market factors
0.98887   with CAPE
0.69001   with P/FCFE (10 acct. periods)
0.99337   with CAPE
0.75843   with P/FCFE (10 acct. periods)

P/FCFE (10 acct. periods)@2026-02-06

64.84VERY 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 = 47.73
Moving average (20 points) = 65.03
Correlation w/ other market factors
0.76702   with CAPE
0.69001   with EV/FCFF (10 acct. periods)
0.78494   with CAPE
0.75843   with EV/FCFF (10 acct. periods)
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