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Is the Stock Market Overvalued?

Live valuation · as of Sep 1, 2026

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Global stock market vs fair value
+34.6 %
overvalued

Cap-weighted across 27,014 valued stocks, cross-listings deduplicated. "+34.6 %" means the market trades above its aggregate fair value.

World map of stock market valuation

Each area is coloured by its cap-weighted gap to fair value: green trades below, red above the computed value. Click a continent for size classes and sectors.

Major indices: expensive or cheap?

Nasdaq 100+119.3 % vs fair value
S&P 500+82.8 % vs fair value
MSCI World+71.8 % vs fair value
DAX+34.6 % vs fair value
Eurozone+30.9 % vs fair value
Emerging Markets+18.2 % vs fair value

The same figures as a dated, citable edition with a dataset to download: Stock market valuation statistics.

Sectors: where is the over- and undervaluation?

Information Technology+71.7 % Materials+43.0 % Industrials+41.8 % Communication Services+41.3 % Energy+37.1 % Health Care+36.4 % Utilities+34.1 % Real Estate+28.8 % Consumer Staples+28.7 % Consumer Discretionary+17.4 %
Other+16.2 %
Financials+5.5 %

The cheapest and most expensive stock markets in the world

Cap-weighted gap to fair value per country (min. 100 valued stocks): larger companies carry more weight than smaller ones.

Cheapest
Philippines−20.9 %
Hong Kong−20.4 %
Brazil−17.3 %
Turkey−6.0 %
Indonesia+1.9 %
Most expensive
UK+58.0 %
USA+52.2 %
Australia+52.1 %
India+51.8 %
Switzerland+45.6 %
Use this data

Journalists and bloggers: free to cite with a link back. Updated daily, free to use with attribution.

Fair Value Calculator, "Is the Stock Market Overvalued?", as of Sep 1, 2026. https://www.fairvalue-calculator.com/market-valuation/

Top rated stocks below fair value, today

Adobe Systems Incorporated +55% below fair value · quality 94/100 Deckers Outdoor Corporation +42% below fair value · quality 84/100 PayPal Holdings +43% below fair value · quality 74/100 Best Buy Co. +31% below fair value · quality 72/100 Renaissancere Holdings +70% below fair value · quality 72/100

See all undervalued stocks →

What does this mean for your money?

Suggested cash allocation

From the overall valuation we derive a cash range, plus how your own watchlist sits versus fair value and which of your positions stand out.

🔒 Cash range
Try free for 14 days and see the cash allocation

Methodology

For over 35,000 stocks we compute a fundamental fair value from multiple models and aggregate the over/undervaluation cap-weighted into a market figure. Cross-listings are deduplicated, outliers capped. Index valuations use look-through: the weighted fair value of the constituent stocks. One source, updated daily.

Model-based estimate. This valuation does not account for your personal situation, risk tolerance or investment horizon. As of Sep 1, 2026.