October, one of the worst month on stock markets, is over and Standard & Poor's have published statistics for major stock market indices. I picked group of emerging markets from S&P Global Equity Indices and added four fundamental indicators. Dividend yield, Price / Book Value, Price / Cash flow and Price / Earnings.
On average for emerging markets as a group dividend yield is 4.2, P/BV is 1.9, P/CF is 9.5 and FY1 P/E ratio is 9.5.
For comparison, in US dividend yield is 3.14, P/BV is 1.76, P/CF is 6.93 and FY1 P/E ratio is 11.8.
For both, emerging markets and US markets, this level of fundamental valuation has not been seen in decades. You can also check my last post about
stock markets valuation two months ago. Just before global sell-off had been triggered.
| Div.Y. | P/BV | P/CF | P/E |
|
|
|
|
|
| Argentina | 1.8 | 1.2 | 4.3 | 5.5 |
| Brazil | 2.2 | 1.6 | 4.6 | 6.7 |
| Chile | 3.5 | 1.9 | 6.5 | 12.2 |
| China | 3.3 | 1.4 | 5.8 | 8.2 |
| Colombia | 2.3 | 1.1 | 8.6 | 12.8 |
| Czech Rep | 6.2 | 2.1 | 6.7 | 8.8 |
| Egypt | 5.5 | 1.7 | 5.1 | 6.8 |
| India | 1.9 | 2.1 | 8.0 | 10.0 |
| Indonesia | 5.3 | 1.6 | 5.4 | 7.2 |
| Israel | 4.0 | 1.6 | 7.2 | 10.1 |
| Jordan | 1.7 | 1.8 | 6.1 | 15.2 |
| Malaysia | 5.6 | 1.3 | 5.9 | 9.6 |
| Mexico | 2.1 | 2.0 | 4.9 | 9.5 |
| Morocco | 2.8 | 3.8 | 20.8 | 20.5 |
| Nigeria | 4.3 | 3.1 | 4.1 | 9.3 |
| Pakistan | 6.4 | 1.7 | 5.5 | 7.3 |
| Peru | 6.7 | 2.1 | 7.1 | 7.7 |
| Philippines | 4.3 | 1.3 | 5.1 | 9.9 |
| Poland | 5.4 | 1.3 | 5.5 | 7.5 |
| Russia | 2.7 | 5.8 | 81.7 | 3.5 |
| Slovenia | 2.2 | 1.5 | 11.5 | 12.8 |
| South Africa | 4.7 | 1.8 | 6.4 | 8.1 |
| Taiwan | 7.7 | 1.1 | 3.9 | 9.6 |
| Thailand | 7.7 | 1.0 | 3.8 | 5.5 |
| Turkey | 5.1 | 1.1 | 3.8 | 5.6 |
Related tickers: (EWZ), (BZF), (ECH), (CH), (EPI), (FNI), (INP), (IFN), (ICN), (IF), (EIS), (ISL), (TAV), (EWM), (MAY), (EWW), (FXM), (MXF), (MXE), (RSX), (EZA), (TWN), (THD), (TTF), (TF), (TUR), (TKF), (IVV)
