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Is the Stock Market Overvalued?

Live valuation · as of Sep 5, 2026

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Global stock market vs fair value
+35.3 %
overvalued

Cap-weighted across 26,343 valued stocks, cross-listings deduplicated. "+35.3 %" 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+82.1 % vs fair value
MSCI World+70.4 % vs fair value
DAX+31.9 % vs fair value
Eurozone+28.9 % vs fair value
Emerging Markets+18.8 % 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+71.9 % Materials+42.6 % Communication Services+42.6 % Industrials+41.5 % Energy+38.6 % Health Care+37.8 % Utilities+33.8 %
Other+30.2 %
Real Estate+30.0 % Consumer Staples+29.4 % Consumer Discretionary+15.8 % Financials+7.2 %

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−19.9 %
Hong Kong−19.3 %
Brazil−18.9 %
Turkey−4.4 %
Indonesia+2.9 %
Most expensive
UK+56.6 %
USA+53.5 %
Australia+52.0 %
India+51.1 %
Switzerland+46.4 %
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 5, 2026. https://www.fairvalue-calculator.com/market-valuation/

Top rated stocks below fair value, today

Adobe Systems Incorporated +58% below fair value · quality 94/100 Infosys Limited +73% below fair value · quality 83/100 Tata Consultancy Services Limited +50% below fair value · quality 76/100 PayPal Holdings +35% below fair value · quality 74/100 Godaddy +43% below fair value · quality 74/100

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 5, 2026.