Morningstar Magazine - April/May 2018 - 74
Data Dashboard
Morningstar Global Valuation Lens
Most global markets took a hit in early 2018, and valuations decreased accordingly. Many of the most
expensive markets at year end, including Argentina and China, are now more moderately priced. Australia and
Finland, however, largely held their value and remain relatively pricey.
Greater Europe 2.4%
< -5.0%
-4.9 to -0.1%
0.0%
Greater Asia 2.5%
U.S. 5.1%
> 5.0%
0.1 to 4.9%
Fairly Valued
Undervalued
Overvalued
Price/Fair Value by Country 02/28/2018
Finland 13.0%
Norway 8.8%
Canada 0.8%
Russia 7.8%
U.K. 5.2%
Sweden 4.5%
France 5.2%
Germany 0.0%
Spain -5.8%
United States 5.1%
Mexico 1.4%
Saudi Arabia 2.3%
China 4.1%
Pakistan -7.0%
Qatar -7.0%
Japan 1.3%
South Korea 1.5%
Taiwan 7.8%
Colombia 4.6%
Brazil 7.2%
India 7.1%
New Zealand 0.8%
South Africa 4.5%
Australia 14.0%
Chile 0.8%
Argentina 6.0%
Under- and Overvalued Countries 02/28/2018
Undervalued
Overvalued
P/FV
Greece
Hong Kong
New Zealnd
Italy
Canada
Chile
Switzerland
Japan
Mexico
Portugal
United Arab Emirates
South Korea
Singapore
Saudi Arabia
Poland
Bangledesh
Malaysia
Philippines
China
Belgium
Sweden
Peru
South Africa
Austria
United States
France
United Kingdom
Turkey
Thailand
Argentina
Egypt
Romania
India
Brazil
Colombia
Taiwan
Russia
Denmark
Indonesia
Norway
Nigeria
Vietnam
Finland
Australia
Pakistan
Qatar
Spain
Bulgaria
Netherlands
Israel
Germany
Iraq
+20.0%
A percentage of 0.0 connotes fairly valued
0.0
-20.0
Country fair-value ratios are derived from P/FV ratios on underlying stocks in those nations, generated primarily from estimates by Morningstar analysts, or, when an analyst estimate isn't available, a fair value generated using Morningstar's
quantitative equity ratings. The data is then adjusted to account for market capitalization. Some countries are omitted due to outliers in the data: less than a $10,000 three-month median-dollar-trading volume or fewer than 20 total stocks
that clear the screens. Stocks that trade for 50 cents or less a share are also removed. Uncertainty attempts to measure the confidence Morningstar analysts have in a company's ability to generate future cash flows.
74
Morningstar April/May 2018
Table of Contents for the Digital Edition of Morningstar Magazine - April/May 2018
Contents
Morningstar Magazine - April/May 2018 - Cover1
Morningstar Magazine - April/May 2018 - Cover2
Morningstar Magazine - April/May 2018 - 1
Morningstar Magazine - April/May 2018 - 2
Morningstar Magazine - April/May 2018 - Contents
Morningstar Magazine - April/May 2018 - 4
Morningstar Magazine - April/May 2018 - 5
Morningstar Magazine - April/May 2018 - 6
Morningstar Magazine - April/May 2018 - 7
Morningstar Magazine - April/May 2018 - 8
Morningstar Magazine - April/May 2018 - 9
Morningstar Magazine - April/May 2018 - 10
Morningstar Magazine - April/May 2018 - 11
Morningstar Magazine - April/May 2018 - 12
Morningstar Magazine - April/May 2018 - 13
Morningstar Magazine - April/May 2018 - 14
Morningstar Magazine - April/May 2018 - 15
Morningstar Magazine - April/May 2018 - 16
Morningstar Magazine - April/May 2018 - 17
Morningstar Magazine - April/May 2018 - 18
Morningstar Magazine - April/May 2018 - 19
Morningstar Magazine - April/May 2018 - 20
Morningstar Magazine - April/May 2018 - 21
Morningstar Magazine - April/May 2018 - 22
Morningstar Magazine - April/May 2018 - 23
Morningstar Magazine - April/May 2018 - 24
Morningstar Magazine - April/May 2018 - 25
Morningstar Magazine - April/May 2018 - 26
Morningstar Magazine - April/May 2018 - 27
Morningstar Magazine - April/May 2018 - 28
Morningstar Magazine - April/May 2018 - 29
Morningstar Magazine - April/May 2018 - 30
Morningstar Magazine - April/May 2018 - 31
Morningstar Magazine - April/May 2018 - 32
Morningstar Magazine - April/May 2018 - 33
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Morningstar Magazine - April/May 2018 - 35
Morningstar Magazine - April/May 2018 - 36
Morningstar Magazine - April/May 2018 - 37
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Morningstar Magazine - April/May 2018 - Cover3
Morningstar Magazine - April/May 2018 - Cover4
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