Poland Stock Market PE Ratio

The Poland Stock Market currently trades at a current P/E ratio of 11.95 as of October 24, 2025.

Over the past five years, the median P/E has been 10.25, putting today's valuation in the 70th percentile of that range. Looking at the longer 10-year period, where the median sits at 11.16, the current reading ranks in the 71.7th percentile - a level historically associated with Overvalued pricing. The 20-year median of 11.48 provides additional context, with the current ratio in the 61.3th percentile of that extended timeframe.

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

Since November 1996, the iShares MSCI Poland ETF has recorded a median P/E ratio of 11.52 over 29 years. Against this full historical backdrop, the current valuation sits close to the median of all recorded readings, indicating that the market is trading in line with its long-term median.

Historical P/E Comparison

The table below compares the current P/E Ratio (11.95) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	11.82	66.7	Overvalued
5 Year	10.25	70	Overvalued
10 Year	11.16	71.7	Overvalued
20 Year	11.48	61.3	Overvalued
Since Nov 1996	11.52	58.9	Fair Value

Returns vs P/E Ratio

Over the past decade, the PE rose from 11.5 (43.4th percentile) to 11.95 (71.7th percentile). Annualized total return over this period was 5.0%. 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	9.64	19.6	+51.2%	+51.2%
3 Year	5.96	0.6	+195.7%	+43.5%
5 Year	9.73	14.9	+118.9%	+17%
10 Year	11.46	43.4	+63%	+5%

Historical Data (1996-2025)

Date	Current PE Ratio
Oct 2025	11.95
Sep 2025	11.72
Aug 2025	12.19
Jul 2025	12.23
Jun 2025	12.43
May 2025	11.70
Apr 2025	13.23
Mar 2025	11.54
Feb 2025	11.91
Jan 2025	11.59
Dec 2024	9.31
Nov 2024	9.19
Oct 2024	9.64
Sep 2024	10.53
Aug 2024	11.14
Jul 2024	9.64
Jun 2024	10.47
May 2024	9.54
Apr 2024	9.88
Mar 2024	10.35
Feb 2024	10.15
Jan 2024	9.23
Dec 2023	9.44
Nov 2023	7.84
Oct 2023	7.64
Sep 2023	6.63
Aug 2023	6.28
Jul 2023	7.07
Jun 2023	6.07
May 2023	4.49
Apr 2023	5.05
Mar 2023	4.55
Feb 2023	7.45
Jan 2023	7.67
Dec 2022	7.60
Nov 2022	7.46
Oct 2022	5.96
Sep 2022	5.76
Aug 2022	6.28
Jul 2022	6.94
Jun 2022	7.31
May 2022	7.70
Apr 2022	8.61
Mar 2022	9.44
Feb 2022	10.77
Jan 2022	12.03
Dec 2021	11.87
Nov 2021	12.33
Oct 2021	13.12
Sep 2021	12.76
Aug 2021	12.28
Jul 2021	12.46
Jun 2021	12.95
May 2021	13.03
Apr 2021	13.03
Mar 2021	12.80
Feb 2021	12.80
Jan 2021	13.65
Dec 2020	13.15
Nov 2020	12.80
Oct 2020	9.73
Sep 2020	11.10
Aug 2020	11.84
Jul 2020	11.71
Jun 2020	12.02
May 2020	10.97
Apr 2020	10.42
Mar 2020	7.64
Feb 2020	10.28
Jan 2020	10.73
Dec 2019	10.19
Nov 2019	10.71
Oct 2019	10.30
Sep 2019	10.30
Aug 2019	10.55
Jul 2019	10.97
Jun 2019	10.65
May 2019	10.65
Apr 2019	11.55
Mar 2019	11.17
Feb 2019	11.44
Jan 2019	10.99
Dec 2018	10.99
Nov 2018	10.61
Oct 2018	10.94
Sep 2018	11.27
Aug 2018	11.67
Jul 2018	10.73
Jun 2018	11.08
May 2018	11.12
Apr 2018	11.12
Mar 2018	11.36
Feb 2018	12.14
Jan 2018	12.14
Dec 2017	12.14
Nov 2017	12.14
Oct 2017	12.14
Sep 2017	12.14
Aug 2017	12.14
Jul 2017	12.14
Jun 2017	12.14
May 2017	12.14
Apr 2017	12.14
Mar 2017	12.89
Feb 2017	12.89
Jan 2017	12.21
Dec 2016	11.41
Nov 2016	11.39
Oct 2016	11.19
Sep 2016	11.54
Aug 2016	11.54
Jul 2016	10.90
Jun 2016	11.34
May 2016	11.66
Apr 2016	12.51
Mar 2016	11.70
Feb 2016	11.42
Jan 2016	10.95
Dec 2015	11.25
Nov 2015	11.46
Oct 2015	11.46
Sep 2015	11.59
Aug 2015	12
Jul 2015	12.39
Jun 2015	12.78
May 2015	13.58
Apr 2015	13.67
Mar 2015	13.67
Feb 2015	12.60
Jan 2015	12.68
Dec 2014	13.04
Nov 2014	13.35
Oct 2014	13.93
Sep 2014	13.93
Aug 2014	13.05
Jul 2014	13.04
Jun 2014	13.50
May 2014	13.16
Apr 2014	12.93
Mar 2014	12.93
Feb 2014	12.49
Jan 2014	12.65
Dec 2013	13.02
Nov 2013	13.68
Oct 2013	12.95
Sep 2013	12.96
Aug 2013	12.96
Jul 2013	12.14
Jun 2013	12.28
May 2013	11.37
Apr 2013	11.34
Mar 2013	11.34
Feb 2013	11.63
Jan 2013	11.69
Dec 2012	11.23
Nov 2012	10.74
Oct 2012	10.57
Sep 2012	10.14
Aug 2012	10.14
Jul 2012	9.46
Jun 2012	9.16
May 2012	9.41
Apr 2012	9.70
Mar 2012	9.82
Feb 2012	9.82
Jan 2012	9.45
Dec 2011	8.87
Nov 2011	8.87
Oct 2011	8.55
Sep 2011	8.06
Aug 2011	8.40
Jul 2011	9.53
Jun 2011	10.71
May 2011	11.02
Apr 2011	11.02
Mar 2011	10.84
Feb 2011	11.11
Jan 2011	11.50
Dec 2010	11.50
Nov 2010	11.41
Oct 2010	11.41
Sep 2010	11.23
Aug 2010	11.39
Jul 2010	11.14
Jun 2010	11.49
May 2010	11.79
Apr 2010	12.65
Mar 2010	11.91
Feb 2010	11.91
Jan 2010	13.06
Dec 2009	14.01
Nov 2009	14.01
Oct 2009	13.72
Sep 2009	13.77
Aug 2009	14.41
Jul 2009	12.31
Jun 2009	12.44
May 2009	11.98
Apr 2009	11.21
Mar 2009	7.37
Feb 2009	6.57
Jan 2009	8.63
Dec 2008	7.74
Nov 2008	6.93
Oct 2008	6.49
Sep 2008	8.69
Aug 2008	9.87
Jul 2008	8.78
Jun 2008	10.06
May 2008	10.78
Apr 2008	11.01
Mar 2008	10.32
Feb 2008	10.31
Jan 2008	10.51
Dec 2007	11.77
Nov 2007	12.46
Oct 2007	13.30
Sep 2007	13.10
Aug 2007	13.37
Jul 2007	14.67
Jun 2007	14.85
May 2007	14.07
Apr 2007	14.07
Mar 2007	13.63
Feb 2007	13
Jan 2007	12.53
Dec 2006	12.89
Nov 2006	12.46
Oct 2006	11.97
Sep 2006	11.50
Aug 2006	11.65
Jul 2006	12.32
Jun 2006	10.17
May 2006	12.11
Apr 2006	14.18
Mar 2006	12.23
Feb 2006	13.40
Jan 2006	13.40
Dec 2005	12.97
Nov 2005	12.97
Oct 2005	13.97
Sep 2005	13.97
Aug 2005	13.10
Jul 2005	12.75
Jun 2005	11.91
May 2005	11.59
Apr 2005	12.67
Mar 2005	12.38
Feb 2005	11.94
Jan 2005	11.36
Dec 2004	11.43
Nov 2004	11.43
Oct 2004	11.71
Sep 2004	11.11
Aug 2004	11.11
Jul 2004	11.67
Jun 2004	12.01
May 2004	12.28
Apr 2004	15.69
Mar 2004	14.65
Feb 2004	14.94
Jan 2004	14.63
Dec 2003	14.63
Nov 2003	16.13
Oct 2003	16.73
Sep 2003	15.66
Aug 2003	15.27
Jul 2003	14.87
Jun 2003	13.17
May 2003	12.09
Apr 2003	11.25
Mar 2003	10.71
Feb 2003	10.89
Jan 2003	11.32
Dec 2002	11.32
Nov 2002	11.18
Oct 2002	11.18
Sep 2002	10.49
Aug 2002	10.49
Jul 2002	11.16
Jun 2002	12.80
May 2002	12.87
Apr 2002	12.87
Mar 2002	13.09
Feb 2002	13.09
Jan 2002	13.34
Dec 2001	11.66
Nov 2001	11.29
Oct 2001	9.61
Sep 2001	8.32
Aug 2001	8.82
Jul 2001	9.12
Jun 2001	10.16
May 2001	10.51
Apr 2001	10.63
Mar 2001	11.03
Feb 2001	12.51
Jan 2001	12.85
Dec 2000	13.67
Nov 2000	13.22
Oct 2000	12.91
Sep 2000	14.83
Aug 2000	16.13
Jul 2000	18.18
Jun 2000	18.50
May 2000	18.91
Apr 2000	21.66
Mar 2000	24.77
Feb 2000	23.44
Jan 2000	22.08
Dec 1999	20.14
Nov 1999	15.12
Oct 1999	15.12
Sep 1999	17.17
Aug 1999	17.90
Jul 1999	19.04
Jun 1999	17.58
May 1999	16.73
Apr 1999	15.52
Mar 1999	13.06
Feb 1999	11.91
Jan 1999	11.42
Dec 1998	9.38
Nov 1998	6.89
Oct 1998	6.14
Sep 1998	7.43
Aug 1998	9.16
Jul 1998	9.45
Jun 1998	9.73
May 1998	10.88
Apr 1998	11.25
Mar 1998	11.89
Feb 1998	10.21
Jan 1998	7.31
Dec 1997	7.99
Nov 1997	7.99
Oct 1997	9.42
Sep 1997	10.35
Aug 1997	9.91
Jul 1997	8.54
Jun 1997	8.69
May 1997	8.69
Apr 1997	8.86
Mar 1997	10.21
Feb 1997	10.21
Jan 1997	8.97
Dec 1996	7.96
Nov 1996	7.85

Regional Peer Comparison

The table below shows a comparison of the current P/E Ratio (11.95) 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 Poland 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.