Argentina Stock Market PE Ratio

The Argentina Stock Market currently trades at a current P/E ratio of 12.79 as of October 24, 2025.

Over the past five years, the median P/E has been 11.97, putting today's valuation in the 68.3th percentile of that range. Looking at the longer 10-year period, where the median sits at 12.14, the current reading ranks in the 73.3th percentile - a level historically associated with Overvalued pricing. The 20-year median of 10.84 provides additional context, with the current ratio in the 80th percentile of that extended timeframe.

This analysis is based on the Global X MSCI Argentina ETF (ARGT) which serves as the benchmark for the Argentina market.

Since May 1996, the Global X MSCI Argentina ETF has recorded a median P/E ratio of 11.46 over 30 years. Against this full historical backdrop, the current valuation sits in the 71.2th percentile of all recorded readings, indicating that the market is trading well above its long-term median.

Historical P/E Comparison

The table below compares the current P/E Ratio (12.79) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	13.48	25	Undervalued
5 Year	11.97	68.3	Overvalued
10 Year	12.14	73.3	Overvalued
20 Year	10.84	80	Overvalued
Since May 1996	11.46	71.2	Overvalued

Returns vs P/E Ratio

Over the past decade, the PE rose from 7.6 (23.5th percentile) to 12.79 (73.3th percentile). Annualized total return over this period was 14.1%. Percentile rank indicates position within the historical distribution. Elevated valuations do not necessarily imply immediate low returns; markets can remain richly valued for extended periods, but this warrants caution for longer-horizon return assumptions.

Time Period	Starting PE Ratio	Starting Percentile	Total Return	Annualized Return
1 Year	16	90.9	+5.9%	+5.9%
3 Year	7.13	13.8	+154.9%	+36.6%
5 Year	11.38	52.7	+200.6%	+24.6%
10 Year	7.59	23.5	+275.5%	+14.1%

Historical Data (1996-2025)

Date	Current PE Ratio
Oct 2025	12.79
Sep 2025	13.64
Aug 2025	12.87
Jul 2025	11.86
Jun 2025	12.15
May 2025	12.94
Apr 2025	13.32
Mar 2025	15.27
Feb 2025	16.85
Jan 2025	16.58
Dec 2024	14.77
Nov 2024	17.68
Oct 2024	16
Sep 2024	12.13
Aug 2024	13.05
Jul 2024	12.88
Jun 2024	11.97
May 2024	16.09
Apr 2024	21.22
Mar 2024	21.88
Feb 2024	19.80
Jan 2024	12.44
Dec 2023	12.10
Nov 2023	13.25
Oct 2023	13.02
Sep 2023	10.96
Aug 2023	11.97
Jul 2023	11.12
Jun 2023	10.15
May 2023	10.32
Apr 2023	10.97
Mar 2023	12.20
Feb 2023	11
Jan 2023	7.45
Dec 2022	7.42
Nov 2022	7.33
Oct 2022	7.13
Sep 2022	7.13
Aug 2022	8.22
Jul 2022	8.02
Jun 2022	9.11
May 2022	11.58
Apr 2022	11.58
Mar 2022	10.59
Feb 2022	11.48
Jan 2022	11.88
Dec 2021	13.27
Nov 2021	11.09
Oct 2021	10.99
Sep 2021	12.08
Aug 2021	12.18
Jul 2021	11.78
Jun 2021	10.89
May 2021	12.47
Apr 2021	11.29
Mar 2021	10.99
Feb 2021	11.88
Jan 2021	11.78
Dec 2020	12.18
Nov 2020	0
Oct 2020	11.38
Sep 2020	12.77
Aug 2020	12.77
Jul 2020	12.77
Jun 2020	12.77
May 2020	12.77
Apr 2020	12.77
Mar 2020	12.77
Feb 2020	12.77
Jan 2020	12.77
Dec 2019	12.77
Nov 2019	12.77
Oct 2019	12.77
Sep 2019	12.77
Aug 2019	12.77
Jul 2019	12.77
Jun 2019	12.77
May 2019	12.77
Apr 2019	12.28
Mar 2019	12.28
Feb 2019	12.57
Jan 2019	10.79
Dec 2018	11.38
Nov 2018	15.15
Oct 2018	16.53
Sep 2018	17.13
Aug 2018	16.14
Jul 2018	16.83
Jun 2018	12.91
May 2018	12.91
Apr 2018	12.91
Mar 2018	12.91
Feb 2018	11.97
Jan 2018	11.97
Dec 2017	11.97
Nov 2017	11.97
Oct 2017	11.97
Sep 2017	11.97
Aug 2017	11.97
Jul 2017	11.97
Jun 2017	12.99
May 2017	13.76
Apr 2017	12.93
Mar 2017	12.70
Feb 2017	11.70
Jan 2017	13.17
Dec 2016	10.83
Nov 2016	9.05
Oct 2016	11.18
Sep 2016	11.18
Aug 2016	10.85
Jul 2016	10.10
Jun 2016	10.42
May 2016	9.64
Apr 2016	9.64
Mar 2016	8.46
Feb 2016	10.22
Jan 2016	8.39
Dec 2015	9.25
Nov 2015	9.25
Oct 2015	7.59
Sep 2015	6.27
Aug 2015	7.56
Jul 2015	7.85
Jun 2015	8.16
May 2015	8.91
Apr 2015	9.29
Mar 2015	9.30
Feb 2015	8.60
Jan 2015	7.29
Dec 2014	6.92
Nov 2014	8.02
Oct 2014	6.52
Sep 2014	7.47
Aug 2014	8.27
Jul 2014	7.56
Jun 2014	7.22
May 2014	7.22
Apr 2014	7.34
Mar 2014	6.10
Feb 2014	5.75
Jan 2014	5.38
Dec 2013	6.92
Nov 2013	7.76
Oct 2013	6.96
Sep 2013	6.33
Aug 2013	5.94
Jul 2013	5.18
Jun 2013	4.98
May 2013	4.59
Apr 2013	4.11
Mar 2013	4.28
Feb 2013	4.77
Jan 2013	4.77
Dec 2012	4.09
Nov 2012	3.15
Oct 2012	3.18
Sep 2012	3.23
Aug 2012	3.23
Jul 2012	3.11
Jun 2012	3.11
May 2012	3.31
Apr 2012	3.74
Mar 2012	4.69
Feb 2012	5.37
Jan 2012	6.74
Dec 2011	5.96
Nov 2011	5.85
Oct 2011	5.85
Sep 2011	6.43
Aug 2011	7.24
Jul 2011	7.88
Jun 2011	8.10
May 2011	8.74
Apr 2011	9.08
Mar 2011	8.66
Feb 2011	9.75
Jan 2011	10.39
Dec 2010	11.68
Nov 2010	12.74
Oct 2010	11.45
Sep 2010	11.01
Aug 2010	9.89
Jul 2010	9.56
Jun 2010	8.52
May 2010	8.28
Apr 2010	10.07
Mar 2010	10.83
Feb 2010	8.67
Jan 2010	8.95
Dec 2009	10.42
Nov 2009	10.23
Oct 2009	10.08
Sep 2009	9.67
Aug 2009	7.70
Jul 2009	8.08
Jun 2009	8.08
May 2009	7.83
Apr 2009	5.18
Mar 2009	4.22
Feb 2009	3.89
Jan 2009	4.69
Dec 2008	4.69
Nov 2008	4.32
Oct 2008	9.50
Sep 2008	12.75
Aug 2008	10.05
Jul 2008	14.84
Jun 2008	14.84
May 2008	9.78
Apr 2008	10.83
Mar 2008	10.83
Feb 2008	8.06
Jan 2008	10.71
Dec 2007	20.09
Nov 2007	19.27
Oct 2007	21.67
Sep 2007	22.06
Aug 2007	24.17
Jul 2007	23.08
Jun 2007	22.07
May 2007	19.19
Apr 2007	16.80
Mar 2007	14.05
Feb 2007	15.16
Jan 2007	13.72
Dec 2006	12.42
Nov 2006	12.42
Oct 2006	10.62
Sep 2006	19.04
Aug 2006	20.52
Jul 2006	6.81
Jun 2006	7.16
May 2006	7.95
Apr 2006	10.37
Mar 2006	10.37
Feb 2006	12.21
Jan 2006	10.28
Dec 2005	9.10
Nov 2005	9.70
Oct 2005	13.12
Sep 2005	10.95
Aug 2005	9.92
Jul 2005	9.43
Jun 2005	9.43
May 2005	8.95
Apr 2005	13.31
Mar 2005	11.68
Feb 2005	10.62
Jan 2005	9.36
Dec 2004	9
Nov 2004	9.69
Oct 2004	10.58
Sep 2004	9.85
Aug 2004	9.11
Jul 2004	9.26
Jun 2004	9.26
May 2004	8.93
Apr 2004	10.99
Mar 2004	13.25
Feb 2004	19.91
Jan 2004	21.21
Dec 2003	17.45
Nov 2003	7.57
Oct 2003	12.38
Sep 2003	9.75
Aug 2003	11.11
Jul 2003	11.80
Jun 2003	13.57
May 2003	13.20
Apr 2003	17.27
Mar 2003	19.32
Feb 2003	16.62
Jan 2003	12.36
Dec 2002	8.68
Nov 2002	8.85
Oct 2002	8.07
Sep 2002	7.58
Aug 2002	7.24
Jul 2002	8.76
Jun 2002	18.05
May 2002	16.28
Apr 2002	11.12
Mar 2002	16.96
Feb 2002	20.61
Jan 2002	14.27
Dec 2001	9.62
Nov 2001	7.07
Oct 2001	7.42
Sep 2001	7.88
Aug 2001	9.05
Jul 2001	9.86
Jun 2001	13.18
May 2001	12.75
Apr 2001	13.15
Mar 2001	13.95
Feb 2001	14.14
Jan 2001	13.58
Dec 2000	11.88
Nov 2000	11.35
Oct 2000	11.13
Sep 2000	12.58
Aug 2000	13.29
Jul 2000	14.65
Jun 2000	13.14
May 2000	13.14
Apr 2000	14.14
Mar 2000	16.38
Feb 2000	17.13
Jan 2000	15.81
Dec 1999	13.62
Nov 1999	13.64
Oct 1999	13.64
Sep 1999	12.80
Aug 1999	12.39
Jul 1999	13.09
Jun 1999	15.03
May 1999	15.33
Apr 1999	12.42
Mar 1999	11.71
Feb 1999	10.61
Jan 1999	10.19
Dec 1998	10.96
Nov 1998	10.96
Oct 1998	9.29
Sep 1998	8.91
Aug 1998	10.88
Jul 1998	12.55
Jun 1998	11.55
May 1998	12.94
Apr 1998	13.24
Mar 1998	13.24
Feb 1998	12.96
Jan 1998	12.20
Dec 1997	12.49
Nov 1997	11.84
Oct 1997	14.08
Sep 1997	15.11
Aug 1997	15.11
Jul 1997	14.85
Jun 1997	14.64
May 1997	14.14
Apr 1997	13.40
Mar 1997	14.15
Feb 1997	14.15
Jan 1997	13.86
Dec 1996	12.69
Nov 1996	12.82
Oct 1996	12.82
Sep 1996	11.61
Aug 1996	11.61
Jul 1996	12.30
Jun 1996	12.99
May 1996	13.60

Regional Peer Comparison

The table below shows a comparison of the current P/E Ratio (12.79) with regional peer markets.

Country	PE Ratio	Percentile Rank	Rating
United States	26.43	90.80	Expensive
Canada	19.39	95	Expensive
Brazil	10.37	51.70	Fair Value
Mexico	13.72	57.50	Fair Value
Colombia	10.08	51.70	Fair Value

Definition: Trailing P/E Ratio

The trailing P/E ratio for Argentina Stock Market shows how much investors are paying for one unit of the index's past earnings.
It is calculated as : P/E = Index level / Aggregated EPS
Aggregated EPS means the index's total earnings per share after weighting each stock in the index (usually by its market capitalization): Aggregated EPS = sum(weight_i * EPS_i). For trailing P/E, the EPS_i values are the actual earnings from the past 12 months.