France Stock Market PE Ratio

The France Stock Market currently trades at a current P/E ratio of 18.67 as of October 24, 2025.

Over the past five years, the median P/E has been 16.79, putting today's valuation in the 88.3th percentile of that range. Looking at the longer 10-year period, where the median sits at 14.7, the current reading ranks in the 94.2th percentile - a level historically associated with Expensive pricing. The 20-year median of 13.07 provides additional context, with the current ratio in the 97.1th percentile of that extended timeframe.

This analysis is based on the iShares MSCI France ETF (EWQ) which serves as the benchmark for the France market.

Since February 1996, the iShares MSCI France ETF has recorded a median P/E ratio of 14.11 over 30 years. Against this full historical backdrop, the current valuation sits in the 82.1th 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 (18.67) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	18.22	75	Overvalued
5 Year	16.79	88.3	Expensive
10 Year	14.7	94.2	Expensive
20 Year	13.07	97.1	Expensive
Since Feb 1996	14.11	82.1	Expensive

Returns vs P/E Ratio

Over the past decade, the PE rose from 13.1 (46th percentile) to 18.67 (94.2th percentile). Annualized total return over this period was 5.7%. 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	17.09	75.1	+16.7%	+16.7%
3 Year	11.01	16.2	+53.8%	+15.4%
5 Year	16.84	75.8	+55.1%	+9.2%
10 Year	13.14	46	+74.4%	+5.7%

Historical Data (1996-2025)

Date	Current PE Ratio
Oct 2025	18.67
Sep 2025	18.24
Aug 2025	18.61
Jul 2025	17.84
Jun 2025	18.20
May 2025	18.07
Apr 2025	19.57
Mar 2025	18.03
Feb 2025	19.24
Jan 2025	18.81
Dec 2024	16.66
Nov 2024	17.15
Oct 2024	17.09
Sep 2024	19.06
Aug 2024	19.22
Jul 2024	18.87
Jun 2024	17.16
May 2024	18.95
Apr 2024	17.24
Mar 2024	18.03
Feb 2024	16.90
Jan 2024	15.50
Dec 2023	15.78
Nov 2023	15.06
Oct 2023	15.05
Sep 2023	15.32
Aug 2023	16.31
Jul 2023	17.39
Jun 2023	16.68
May 2023	15.37
Apr 2023	16.70
Mar 2023	15.62
Feb 2023	12.92
Jan 2023	12.76
Dec 2022	11.85
Nov 2022	11.66
Oct 2022	11.01
Sep 2022	11.14
Aug 2022	11.43
Jul 2022	11.01
Jun 2022	11.62
May 2022	11.91
Apr 2022	13.05
Mar 2022	12.31
Feb 2022	13.95
Jan 2022	15.32
Dec 2021	15.25
Nov 2021	15.45
Oct 2021	15.45
Sep 2021	16.20
Aug 2021	16.49
Jul 2021	17.02
Jun 2021	17.38
May 2021	17.49
Apr 2021	17.49
Mar 2021	17.89
Feb 2021	17.26
Jan 2021	17.86
Dec 2020	17.86
Nov 2020	16.88
Oct 2020	16.84
Sep 2020	17.77
Aug 2020	17.43
Jul 2020	17.84
Jun 2020	17.59
May 2020	15.82
Apr 2020	14
Mar 2020	10.53
Feb 2020	14.57
Jan 2020	14.66
Dec 2019	14.47
Nov 2019	14.19
Oct 2019	13.44
Sep 2019	13.06
Aug 2019	13.06
Jul 2019	13.71
Jun 2019	13.22
May 2019	13.86
Apr 2019	13.86
Mar 2019	13.35
Feb 2019	13.14
Jan 2019	11.82
Dec 2018	11.56
Nov 2018	12.42
Oct 2018	12.81
Sep 2018	13.20
Aug 2018	13.76
Jul 2018	13.76
Jun 2018	14.05
May 2018	14.47
Apr 2018	13.86
Mar 2018	14.08
Feb 2018	14.08
Jan 2018	14.49
Dec 2017	14.88
Nov 2017	14.95
Oct 2017	14.95
Sep 2017	14.68
Aug 2017	14.49
Jul 2017	14.49
Jun 2017	14.76
May 2017	15.01
Apr 2017	14.71
Mar 2017	14.11
Feb 2017	14.11
Jan 2017	14.40
Dec 2016	13.65
Nov 2016	13.63
Oct 2016	13.63
Sep 2016	13.68
Aug 2016	13.68
Jul 2016	12.98
Jun 2016	13.63
May 2016	13.96
Apr 2016	14.41
Mar 2016	13.37
Feb 2016	12.70
Jan 2016	13.57
Dec 2015	14.50
Nov 2015	14.78
Oct 2015	13.14
Sep 2015	13.32
Aug 2015	15.20
Jul 2015	14.20
Jun 2015	15.15
May 2015	15.98
Apr 2015	16.33
Mar 2015	15.74
Feb 2015	15.30
Jan 2015	13.52
Dec 2014	13.48
Nov 2014	13.09
Oct 2014	12.49
Sep 2014	13.42
Aug 2014	13.02
Jul 2014	13.54
Jun 2014	13.97
May 2014	13.69
Apr 2014	13.28
Mar 2014	13.39
Feb 2014	12.65
Jan 2014	12.82
Dec 2013	12.47
Nov 2013	12.76
Oct 2013	12.44
Sep 2013	12.21
Aug 2013	11.90
Jul 2013	11.22
Jun 2013	11.27
May 2013	12.03
Apr 2013	11.06
Mar 2013	11.34
Feb 2013	11.10
Jan 2013	10.40
Dec 2012	10.40
Nov 2012	10.05
Oct 2012	10.05
Sep 2012	10.19
Aug 2012	10.19
Jul 2012	9.08
Jun 2012	8.80
May 2012	8.97
Apr 2012	9.78
Mar 2012	10.20
Feb 2012	9.63
Jan 2012	9.35
Dec 2011	8.75
Nov 2011	8.75
Oct 2011	7.72
Sep 2011	7.97
Aug 2011	8.18
Jul 2011	9.41
Jun 2011	9.75
May 2011	10.28
Apr 2011	9.88
Mar 2011	9.88
Feb 2011	10.71
Jan 2011	9.87
Dec 2010	9.87
Nov 2010	10.62
Oct 2010	10.40
Sep 2010	9.65
Aug 2010	10.08
Jul 2010	9.91
Jun 2010	9.91
May 2010	10.95
Apr 2010	11.58
Mar 2010	11.24
Feb 2010	11.24
Jan 2010	12.24
Dec 2009	11.69
Nov 2009	11.69
Oct 2009	12.78
Sep 2009	12.13
Aug 2009	11.90
Jul 2009	11.29
Jun 2009	11.24
May 2009	10.29
Apr 2009	9.74
Mar 2009	8.56
Feb 2009	8.44
Jan 2009	8.72
Dec 2008	7.59
Nov 2008	7.07
Oct 2008	7.96
Sep 2008	8.57
Aug 2008	8.70
Jul 2008	8.70
Jun 2008	9.83
May 2008	10.69
Apr 2008	10.26
Mar 2008	9.97
Feb 2008	10.18
Jan 2008	11.49
Dec 2007	12.11
Nov 2007	11.96
Oct 2007	12.32
Sep 2007	11.72
Aug 2007	12.25
Jul 2007	13.15
Jun 2007	13.22
May 2007	13.22
Apr 2007	13
Mar 2007	12.27
Feb 2007	12.84
Jan 2007	12.68
Dec 2006	12.34
Nov 2006	12.43
Oct 2006	12.11
Sep 2006	11.16
Aug 2006	11.16
Jul 2006	11.21
Jun 2006	11.21
May 2006	12.08
Apr 2006	12.80
Mar 2006	12.68
Feb 2006	12.68
Jan 2006	12.39
Dec 2005	12.11
Nov 2005	12.11
Oct 2005	12.38
Sep 2005	12.38
Aug 2005	12.28
Jul 2005	12.28
Jun 2005	11.90
May 2005	12.18
Apr 2005	12.18
Mar 2005	13.46
Feb 2005	13.31
Jan 2005	13.31
Dec 2004	13.31
Nov 2004	13.31
Oct 2004	13.44
Sep 2004	13.44
Aug 2004	13.67
Jul 2004	14.28
Jun 2004	14.47
May 2004	15.53
Apr 2004	15.39
Mar 2004	15.83
Feb 2004	15.70
Jan 2004	15.70
Dec 2003	15.37
Nov 2003	15.63
Oct 2003	15.63
Sep 2003	15.46
Aug 2003	15.33
Jul 2003	15.33
Jun 2003	14.93
May 2003	13.78
Apr 2003	13.22
Mar 2003	13
Feb 2003	13.71
Jan 2003	14.34
Dec 2002	14.34
Nov 2002	14.38
Oct 2002	14.38
Sep 2002	14.65
Aug 2002	15.26
Jul 2002	15.73
Jun 2002	17.82
May 2002	20.06
Apr 2002	20.21
Mar 2002	19.63
Feb 2002	19.82
Jan 2002	19.98
Dec 2001	19.98
Nov 2001	18.37
Oct 2001	16.53
Sep 2001	20.97
Aug 2001	20.86
Jul 2001	21.18
Jun 2001	21.18
May 2001	20.21
Apr 2001	19.34
Mar 2001	20.44
Feb 2001	21.50
Jan 2001	21.86
Dec 2000	22.82
Nov 2000	23.48
Oct 2000	24.30
Sep 2000	26.76
Aug 2000	26.76
Jul 2000	27.14
Jun 2000	27.74
May 2000	27.01
Apr 2000	28.49
Mar 2000	28.20
Feb 2000	27.21
Jan 2000	26.01
Dec 1999	26.01
Nov 1999	23.24
Oct 1999	23.21
Sep 1999	22.90
Aug 1999	23.68
Jul 1999	23.08
Jun 1999	22.45
May 1999	23.50
Apr 1999	23.50
Mar 1999	22.46
Feb 1999	22.46
Jan 1999	21.67
Dec 1998	19.47
Nov 1998	19.68
Oct 1998	19.34
Sep 1998	20.10
Aug 1998	22.43
Jul 1998	22.59
Jun 1998	22.49
May 1998	22.49
Apr 1998	22.13
Mar 1998	21.06
Feb 1998	18.93
Jan 1998	17.50
Dec 1997	17.50
Nov 1997	18.10
Oct 1997	19.15
Sep 1997	19.47
Aug 1997	19.89
Jul 1997	19.24
Jun 1997	18.93
May 1997	18.57
Apr 1997	18.76
Mar 1997	18.76
Feb 1997	18.37
Jan 1997	17.52
Dec 1996	17.15
Nov 1996	17.15
Oct 1996	16.89
Sep 1996	16.28
Aug 1996	16
Jul 1996	16.83
Jun 1996	16.84
May 1996	16.60
Apr 1996	16.60
Mar 1996	15.27
Feb 1996	15

Regional Peer Comparison

The table below shows a comparison of the current P/E Ratio (18.67) with regional peer markets.

Country	PE Ratio	Percentile Rank	Rating
Germany	17.89	95	Expensive
United Kingdom	18.89	99.20	Expensive
Italy	12.80	68.30	Overvalued
Spain	13.26	80.80	Expensive
Turkey	13.81	100	Expensive

Definition: Trailing P/E Ratio

The trailing P/E ratio for France 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.