Netherlands Stock Market PE Ratio

The Netherlands Stock Market currently trades at a current P/E ratio of 18.42 as of October 24, 2025.

Over the past five years, the median P/E has been 17.48, putting today's valuation in the 65th percentile of that range. Looking at the longer 10-year period, where the median sits at 15.95, the current reading ranks in the 77.5th percentile - a level historically associated with Overvalued pricing. The 20-year median of 14.13 provides additional context, with the current ratio in the 88.8th percentile of that extended timeframe.

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

Since February 1996, the iShares MSCI Netherlands ETF has recorded a median P/E ratio of 14.32 over 30 years. Against this full historical backdrop, the current valuation sits in the 82.9th 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 (18.42) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	15.28	100	Expensive
5 Year	17.48	65	Overvalued
10 Year	15.95	77.5	Overvalued
20 Year	14.13	88.8	Expensive
Since Feb 1996	14.32	82.9	Expensive

Returns vs P/E Ratio

Over the past decade, the PE rose from 13.7 (63.7th percentile) to 18.42 (77.5th percentile). Annualized total return over this period was 8.9%. 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	13.54	41.7	+22.6%	+22.6%
3 Year	15.11	58.9	+80.9%	+21.8%
5 Year	20.49	93.3	+62.6%	+10.2%
10 Year	13.71	63.7	+134.5%	+8.9%

Historical Data (1996-2025)

Date	Current PE Ratio
Oct 2025	18.42
Sep 2025	15.39
Aug 2025	15.07
Jul 2025	16.15
Jun 2025	17.17
May 2025	15.85
Apr 2025	17.01
Mar 2025	14.68
Feb 2025	15.17
Jan 2025	14.83
Dec 2024	13.87
Nov 2024	13.80
Oct 2024	13.54
Sep 2024	17.91
Aug 2024	18.11
Jul 2024	16.34
Jun 2024	16.07
May 2024	16.26
Apr 2024	14.64
Mar 2024	16.36
Feb 2024	16.02
Jan 2024	15.22
Dec 2023	14.87
Nov 2023	13.44
Oct 2023	14.53
Sep 2023	14.22
Aug 2023	16.01
Jul 2023	17.61
Jun 2023	18.14
May 2023	19.90
Apr 2023	19.98
Mar 2023	17.82
Feb 2023	18.86
Jan 2023	17.19
Dec 2022	18.09
Nov 2022	16.30
Oct 2022	15.11
Sep 2022	17.36
Aug 2022	18.95
Jul 2022	17.35
Jun 2022	16.20
May 2022	17.63
Apr 2022	18.75
Mar 2022	17.59
Feb 2022	21.42
Jan 2022	21.42
Dec 2021	23.81
Nov 2021	26.03
Oct 2021	23.58
Sep 2021	26.13
Aug 2021	24.86
Jul 2021	24.02
Jun 2021	24.41
May 2021	23.55
Apr 2021	24.72
Mar 2021	25.01
Feb 2021	24.34
Jan 2021	23.57
Dec 2020	22.92
Nov 2020	22.15
Oct 2020	20.49
Sep 2020	19.70
Aug 2020	20.53
Jul 2020	21.20
Jun 2020	20.46
May 2020	19.13
Apr 2020	16.76
Mar 2020	13.16
Feb 2020	17.35
Jan 2020	17.54
Dec 2019	17.18
Nov 2019	16.77
Oct 2019	16.50
Sep 2019	15.61
Aug 2019	14.94
Jul 2019	15.45
Jun 2019	15.27
May 2019	14.92
Apr 2019	15.62
Mar 2019	15.29
Feb 2019	14.11
Jan 2019	13.79
Dec 2018	13.06
Nov 2018	13.75
Oct 2018	14.32
Sep 2018	14.92
Aug 2018	15.75
Jul 2018	16.01
Jun 2018	15.89
May 2018	16.07
Apr 2018	15.32
Mar 2018	15.26
Feb 2018	15.94
Jan 2018	15.94
Dec 2017	15.94
Nov 2017	15.94
Oct 2017	15.94
Sep 2017	15.94
Aug 2017	15.94
Jul 2017	15.94
Jun 2017	15.88
May 2017	16.26
Apr 2017	15.95
Mar 2017	15.95
Feb 2017	15.62
Jan 2017	15.16
Dec 2016	14.61
Nov 2016	15.01
Oct 2016	14.75
Sep 2016	15.09
Aug 2016	14.85
Jul 2016	14.54
Jun 2016	13.81
May 2016	14.88
Apr 2016	15.29
Mar 2016	14.15
Feb 2016	13.22
Jan 2016	14.04
Dec 2015	14.96
Nov 2015	15.75
Oct 2015	13.71
Sep 2015	13.71
Aug 2015	16.34
Jul 2015	16.76
Jun 2015	16.03
May 2015	16.86
Apr 2015	17.39
Mar 2015	16.81
Feb 2015	16.03
Jan 2015	14.39
Dec 2014	14.07
Nov 2014	14.28
Oct 2014	13.60
Sep 2014	14.28
Aug 2014	13.65
Jul 2014	14.31
Jun 2014	14.31
May 2014	13.68
Apr 2014	13.72
Mar 2014	13.96
Feb 2014	13.47
Jan 2014	13.65
Dec 2013	13.21
Nov 2013	13.53
Oct 2013	13.10
Sep 2013	13.36
Aug 2013	13.36
Jul 2013	12.16
Jun 2013	11.72
May 2013	12.44
Apr 2013	11.83
Mar 2013	11.82
Feb 2013	11.57
Jan 2013	11.22
Dec 2012	10.51
Nov 2012	10.53
Oct 2012	10.38
Sep 2012	10.38
Aug 2012	10.08
Jul 2012	9.75
Jun 2012	8.60
May 2012	10.06
Apr 2012	10.06
Mar 2012	10.02
Feb 2012	9.72
Jan 2012	9.46
Dec 2011	8.82
Nov 2011	8.88
Oct 2011	7.83
Sep 2011	7.58
Aug 2011	8.03
Jul 2011	8.72
Jun 2011	9.29
May 2011	9.58
Apr 2011	9.95
Mar 2011	9.95
Feb 2011	10.02
Jan 2011	9.68
Dec 2010	9.68
Nov 2010	9.30
Oct 2010	9.69
Sep 2010	9.69
Aug 2010	9.47
Jul 2010	10.23
Jun 2010	10.35
May 2010	11.79
Apr 2010	12.12
Mar 2010	11.50
Feb 2010	11.50
Jan 2010	12.31
Dec 2009	11.91
Nov 2009	12.14
Oct 2009	13.18
Sep 2009	12.81
Aug 2009	12.53
Jul 2009	12.02
Jun 2009	11.82
May 2009	11.82
Apr 2009	10.27
Mar 2009	8.93
Feb 2009	8.93
Jan 2009	8.45
Dec 2008	7.44
Nov 2008	7.37
Oct 2008	6.89
Sep 2008	8.24
Aug 2008	8.62
Jul 2008	8.62
Jun 2008	9.82
May 2008	10.68
Apr 2008	10.58
Mar 2008	10.25
Feb 2008	10.11
Jan 2008	11.50
Dec 2007	11.44
Nov 2007	11.70
Oct 2007	12.63
Sep 2007	12.38
Aug 2007	12.38
Jul 2007	13.27
Jun 2007	13.67
May 2007	13.67
Apr 2007	13.34
Mar 2007	13
Feb 2007	12.92
Jan 2007	12.76
Dec 2006	12.35
Nov 2006	12.68
Oct 2006	12.49
Sep 2006	12.15
Aug 2006	12.15
Jul 2006	11.10
Jun 2006	11.10
May 2006	11.93
Apr 2006	12.83
Mar 2006	13.03
Feb 2006	12.75
Jan 2006	12.33
Dec 2005	12.46
Nov 2005	12.30
Oct 2005	12.03
Sep 2005	11.76
Aug 2005	11.74
Jul 2005	11.69
Jun 2005	11.69
May 2005	11.18
Apr 2005	10.96
Mar 2005	11.82
Feb 2005	12.84
Jan 2005	12.54
Dec 2004	12.25
Nov 2004	11.94
Oct 2004	11.80
Sep 2004	11.53
Aug 2004	11.53
Jul 2004	12.06
Jun 2004	12.37
May 2004	12.28
Apr 2004	12.80
Mar 2004	13.17
Feb 2004	13.70
Jan 2004	13.70
Dec 2003	13.17
Nov 2003	12.99
Oct 2003	12.99
Sep 2003	13.24
Aug 2003	13.10
Jul 2003	12.87
Jun 2003	12.87
May 2003	12.57
Apr 2003	11.78
Mar 2003	11.41
Feb 2003	10.99
Jan 2003	11.89
Dec 2002	12.68
Nov 2002	12.70
Oct 2002	12.83
Sep 2002	12.60
Aug 2002	13.20
Jul 2002	13.20
Jun 2002	13.74
May 2002	15.92
Apr 2002	17.96
Mar 2002	18.95
Feb 2002	19.19
Jan 2002	17.34
Dec 2001	16.83
Nov 2001	16.83
Oct 2001	14.97
Sep 2001	14.29
Aug 2001	14.13
Jul 2001	17.10
Jun 2001	17.62
May 2001	17.81
Apr 2001	18.03
Mar 2001	17.09
Feb 2001	16.08
Jan 2001	16.89
Dec 2000	17.10
Nov 2000	18.18
Oct 2000	18.18
Sep 2000	18.75
Aug 2000	19.77
Jul 2000	20.03
Jun 2000	20.59
May 2000	21.32
Apr 2000	20.84
Mar 2000	20.51
Feb 2000	21.05
Jan 2000	21.43
Dec 1999	21.43
Nov 1999	20.79
Oct 1999	19.88
Sep 1999	20.12
Aug 1999	21.43
Jul 1999	22.03
Jun 1999	22.16
May 1999	22.16
Apr 1999	22.33
Mar 1999	22.33
Feb 1999	21.72
Jan 1999	21.76
Dec 1998	21.43
Nov 1998	20.52
Oct 1998	18.90
Sep 1998	16.26
Aug 1998	17.46
Jul 1998	18.31
Jun 1998	19.21
May 1998	19.51
Apr 1998	20.01
Mar 1998	20.29
Feb 1998	19.36
Jan 1998	17.58
Dec 1997	16.64
Nov 1997	16.64
Oct 1997	17.59
Sep 1997	17.51
Aug 1997	19.40
Jul 1997	19.69
Jun 1997	18.78
May 1997	17.79
Apr 1997	17.07
Mar 1997	16.15
Feb 1997	16.81
Jan 1997	16.27
Dec 1996	15.43
Nov 1996	14.41
Oct 1996	14.21
Sep 1996	14.21
Aug 1996	13.56
Jul 1996	13.14
Jun 1996	13.37
May 1996	13.73
Apr 1996	13.57
Mar 1996	13.18
Feb 1996	12.53

Regional Peer Comparison

The table below shows a comparison of the current P/E Ratio (18.42) with regional peer markets.

Country	PE Ratio	Percentile Rank	Rating
Germany	17.89	95	Expensive
United Kingdom	18.89	99.20	Expensive
France	18.67	94.20	Expensive
Italy	12.80	68.30	Overvalued
Spain	13.26	80.80	Expensive

Definition: Trailing P/E Ratio

The trailing P/E ratio for Netherlands 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.