Philippines Stock Market PE Ratio

The Philippines Stock Market currently trades at a current P/E ratio of 8.63 as of October 24, 2025.

Over the past five years, the median P/E has been 12.47, putting today's valuation in the 1.7th percentile of that range. Looking at the longer 10-year period, where the median sits at 15.71, the current reading ranks among the lowest historically - a level historically associated with Attractive pricing. The 20-year median of 15.45 provides additional context, with the current ratio at the lowest level of that extended timeframe.

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

Since June 1996, the iShares MSCI Philippines ETF has recorded a median P/E ratio of 15.1 over 29 years. Against this full historical backdrop, the current valuation sits at the lowest level of all recorded readings, indicating that the market is trading below its long-term median.

Historical P/E Comparison

The table below compares the current P/E Ratio (8.63) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	9.59	8.3	Attractive
5 Year	12.47	1.7	Attractive
10 Year	15.71	0.8	Attractive
20 Year	15.45	0.8	Attractive
Since Jun 1996	15.1	0.6	Attractive

Returns vs P/E Ratio

Over the past decade, the PE fell from 18 (87.1th percentile) to 8.63 (0.8th percentile). Annualized total return over this period was -3.9%. Percentile rank indicates position within the historical distribution. Lower valuations do not guarantee near-term gains; markets can stay discounted for long, though starting points are generally more supportive for long-horizon outcomes.

Time Period	Starting PE Ratio	Starting Percentile	Total Return	Annualized Return
1 Year	10.61	5.3	-11.9%	-11.9%
3 Year	12.88	22.1	+6.3%	+2.1%
5 Year	16.31	65.5	-13.9%	-3%
10 Year	18.01	87.1	-32.6%	-3.9%

Historical Data (1996-2025)

Date	Current PE Ratio
Oct 2025	8.63
Sep 2025	8.88
Aug 2025	9.62
Jul 2025	9.23
Jun 2025	9.85
May 2025	9.89
Apr 2025	10.78
Mar 2025	9.51
Feb 2025	9.09
Jan 2025	9.56
Dec 2024	9.76
Nov 2024	10.67
Oct 2024	10.61
Sep 2024	11.09
Aug 2024	11.48
Jul 2024	10.72
Jun 2024	10.20
May 2024	9.97
Apr 2024	11.16
Mar 2024	11.61
Feb 2024	11.24
Jan 2024	10.42
Dec 2023	10.75
Nov 2023	10.46
Oct 2023	10.40
Sep 2023	11.20
Aug 2023	11.46
Jul 2023	12.53
Jun 2023	11.99
May 2023	12.21
Apr 2023	12.99
Mar 2023	12.42
Feb 2023	14.62
Jan 2023	15.36
Dec 2022	14.72
Nov 2022	13.73
Oct 2022	12.88
Sep 2022	14.15
Aug 2022	15.67
Jul 2022	14.85
Jun 2022	14.99
May 2022	15.45
Apr 2022	16.01
Mar 2022	16.63
Feb 2022	18.15
Jan 2022	17.16
Dec 2021	17.35
Nov 2021	17.93
Oct 2021	17.29
Sep 2021	17.25
Aug 2021	17.25
Jul 2021	17.48
Jun 2021	18.21
May 2021	15.58
Apr 2021	15.38
Mar 2021	16.07
Feb 2021	17.12
Jan 2021	18.07
Dec 2020	18.62
Nov 2020	17.38
Oct 2020	16.31
Sep 2020	15.75
Aug 2020	14.61
Jul 2020	15.88
Jun 2020	15.88
May 2020	14.57
Apr 2020	9.55
Mar 2020	9.55
Feb 2020	14.21
Jan 2020	15.22
Dec 2019	15.78
Nov 2019	15.78
Oct 2019	15.51
Sep 2019	15.35
Aug 2019	15.35
Jul 2019	16.49
Jun 2019	16.11
May 2019	15.65
Apr 2019	16.02
Mar 2019	16.25
Feb 2019	16
Jan 2019	16.51
Dec 2018	15.31
Nov 2018	14.39
Oct 2018	15.02
Sep 2018	15.56
Aug 2018	16.11
Jul 2018	16.11
Jun 2018	15.19
May 2018	16.19
Apr 2018	16.98
Mar 2018	17.24
Feb 2018	18.06
Jan 2018	18.06
Dec 2017	18.06
Nov 2017	18.06
Oct 2017	18.06
Sep 2017	18.06
Aug 2017	18.06
Jul 2017	18.06
Jun 2017	18.51
May 2017	18.51
Apr 2017	17.99
Mar 2017	17.56
Feb 2017	17.20
Jan 2017	16.32
Dec 2016	16
Nov 2016	16.54
Oct 2016	18.14
Sep 2016	19.22
Aug 2016	19.41
Jul 2016	19.63
Jun 2016	18.90
May 2016	18.09
Apr 2016	18.04
Mar 2016	16.89
Feb 2016	16.38
Jan 2016	15.59
Dec 2015	17.29
Nov 2015	17.06
Oct 2015	18.01
Sep 2015	16.96
Aug 2015	17.84
Jul 2015	18.94
Jun 2015	18.34
May 2015	19.26
Apr 2015	20.06
Mar 2015	19.71
Feb 2015	19.33
Jan 2015	18.83
Dec 2014	18.59
Nov 2014	18.65
Oct 2014	18.46
Sep 2014	18.88
Aug 2014	18.12
Jul 2014	18.12
Jun 2014	18.10
May 2014	18.91
Apr 2014	18.10
Mar 2014	17.90
Feb 2014	16.98
Jan 2014	16.93
Dec 2013	17.92
Nov 2013	17.78
Oct 2013	18.82
Sep 2013	17.48
Aug 2013	17.19
Jul 2013	18.67
Jun 2013	16.60
May 2013	20.21
Apr 2013	20.15
Mar 2013	20.15
Feb 2013	18.11
Jan 2013	17.64
Dec 2012	17.16
Nov 2012	16.01
Oct 2012	15.76
Sep 2012	15.50
Aug 2012	15.44
Jul 2012	15.87
Jun 2012	14.93
May 2012	15.60
Apr 2012	16.31
Mar 2012	16.02
Feb 2012	15.62
Jan 2012	13.83
Dec 2011	13.60
Nov 2011	13.57
Oct 2011	12.43
Sep 2011	12.01
Aug 2011	13.79
Jul 2011	14.56
Jun 2011	13.88
May 2011	14.54
Apr 2011	14.54
Mar 2011	13.11
Feb 2011	13.64
Jan 2011	13.99
Dec 2010	14.47
Nov 2010	16.21
Oct 2010	16.50
Sep 2010	15.78
Aug 2010	14.40
Jul 2010	14.02
Jun 2010	13.71
May 2010	13.13
Apr 2010	14.17
Mar 2010	12.54
Feb 2010	12.54
Jan 2010	14.27
Dec 2009	14.22
Nov 2009	14.65
Oct 2009	14.10
Sep 2009	15.10
Aug 2009	15.10
Jul 2009	13.69
Jun 2009	13.73
May 2009	12.64
Apr 2009	11.65
Mar 2009	11.12
Feb 2009	10.87
Jan 2009	10.87
Dec 2008	8.93
Nov 2008	8.93
Oct 2008	8.33
Sep 2008	11.48
Aug 2008	12.60
Jul 2008	11.76
Jun 2008	10.99
May 2008	11.99
Apr 2008	11.95
Mar 2008	13.08
Feb 2008	12.79
Jan 2008	14.06
Dec 2007	15.40
Nov 2007	16.49
Oct 2007	17.27
Sep 2007	14.89
Aug 2007	15.44
Jul 2007	16.35
Jun 2007	17.02
May 2007	15.87
Apr 2007	16.14
Mar 2007	15.35
Feb 2007	16.43
Jan 2007	14.76
Dec 2006	13.81
Nov 2006	13.36
Oct 2006	12.79
Sep 2006	12.53
Aug 2006	11.87
Jul 2006	11.63
Jun 2006	10.84
May 2006	13.24
Apr 2006	13.22
Mar 2006	12.81
Feb 2006	13.07
Jan 2006	13.23
Dec 2005	13.13
Nov 2005	12.80
Oct 2005	12.14
Sep 2005	11.94
Aug 2005	12.81
Jul 2005	11.96
Jun 2005	11.81
May 2005	11.81
Apr 2005	12.90
Mar 2005	13.24
Feb 2005	12.62
Jan 2005	11.82
Dec 2004	11.59
Nov 2004	11.59
Oct 2004	11.38
Sep 2004	11.10
Aug 2004	10.82
Jul 2004	11.23
Jun 2004	11.44
May 2004	11.05
Apr 2004	11.05
Mar 2004	11.53
Feb 2004	12.08
Jan 2004	12.80
Dec 2003	12.02
Nov 2003	11.79
Oct 2003	12.94
Sep 2003	12.96
Aug 2003	13.17
Jul 2003	13.86
Jun 2003	12.67
May 2003	12.35
Apr 2003	11.75
Mar 2003	11.75
Feb 2003	12.55
Jan 2003	12.42
Dec 2002	12.87
Nov 2002	13.07
Oct 2002	13.28
Sep 2002	14.78
Aug 2002	15.01
Jul 2002	15.52
Jun 2002	16.14
May 2002	17.16
Apr 2002	17.36
Mar 2002	17.97
Feb 2002	18.28
Jan 2002	16.48
Dec 2001	15.86
Nov 2001	13.38
Oct 2001	14.58
Sep 2001	15.81
Aug 2001	16.47
Jul 2001	17.21
Jun 2001	17.66
May 2001	17.18
Apr 2001	17.18
Mar 2001	18.67
Feb 2001	19.76
Jan 2001	18.10
Dec 2000	15.93
Nov 2000	14.59
Oct 2000	13.30
Sep 2000	14.83
Aug 2000	15.14
Jul 2000	14.67
Jun 2000	14.08
May 2000	13.71
Apr 2000	15.01
Mar 2000	15.69
Feb 2000	17.37
Jan 2000	18.48
Dec 1999	17.44
Nov 1999	17.46
Oct 1999	17.16
Sep 1999	17.16
Aug 1999	16.88
Jul 1999	20.07
Jun 1999	20.04
May 1999	19.02
Apr 1999	17.79
Mar 1999	15.41
Feb 1999	16.39
Jan 1999	16.39
Dec 1998	14.50
Nov 1998	14.17
Oct 1998	10.17
Sep 1998	9.61
Aug 1998	12.57
Jul 1998	12.46
Jun 1998	13.57
May 1998	15.12
Apr 1998	15.72
Mar 1998	15.14
Feb 1998	13.87
Jan 1998	10.44
Dec 1997	9.22
Nov 1997	9.22
Oct 1997	9.44
Sep 1997	9.66
Aug 1997	11.71
Jul 1997	12.43
Jun 1997	12.39
May 1997	13
Apr 1997	14
Mar 1997	15.18
Feb 1997	15.87
Jan 1997	15.37
Dec 1996	15.06
Nov 1996	14.63
Oct 1996	15.08
Sep 1996	16.48
Aug 1996	16.95
Jul 1996	17.52
Jun 1996	17.83

Regional Peer Comparison

The table below shows a comparison of the current P/E Ratio (8.63) with regional peer markets.

Country	PE Ratio	Percentile Rank	Rating
China	14.52	92.50	Expensive
Japan	17.24	94.20	Expensive
India	22.67	39.20	Undervalued
South Korea	12.83	95	Expensive
Indonesia	13.01	28.30	Undervalued

Definition: Trailing P/E Ratio

The trailing P/E ratio for Philippines 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.