Morningstar Magazine - April/May 2015 - 90
Data Dashboard
Morningstar Global Valuation Lens
As Germany and China see their stock markets rise, falling crude prices have hurt oil-dependent economies
such as Nigeria and Russia. Meanwhile, political drama has dinged Greece and Argentina.
U.S. 4.0%
< -5.0%
-4.9 to -0.1%
0.0%
Undervalued
Greater
Asia 9.5%
Greater Europe 8.6%
> 5.0%
0.1 to 4.9%
Overvalued
Fairly Valued
Price/Fair Value by Country 02/28/2015
Finland 9.3%
Norway 2.0%
U.K. 1.6%
Canada 4.7%
France 6.2%
United States 4.0%
Russia -4.2%
Sweden 11.0%
Germany 16.6%
China 17.8%
Portugal 1.4%
Japan 11.2%
Pakistan -0.4%
Mexico 6.5%
South Korea -0.8%
Nigeria -8.6%
Brazil -0.4%
Indonesia 5.6%
India 9.9%
New Zealand 6.2%
South Africa 6.9%
Australia 1.1%
Chile 2.4%
Argentina -3.4%
Undervalued Countries 02/28/2015
10 Overvalued Countries 02/28/2015
P/FV (%)
Companies
Uncertainty
Rating
Country
P/FV (%)
Companies
Nigeria
-8.6
89
Very High
China
17.8
2,291
Greece
-7.3
65
Very High
Germany
16.6
492
Medium
Russia
-4.2
95
Very High
Netherlands
13.1
96
Medium
Argentina
-3.4
57
High
Belgium
12.9
105
High
Vietnam
-1.7
230
High
Italy
11.7
229
High
Austria
-1.2
50
High
Japan
11.2
3,476
High
South Korea
-0.8
1,674
Very High
Sweden
11.0
372
Pakistan
-0.4
314
Very High
India
9.9
2,546
High
Hong Kong
-0.2
1,087
High
Finland
9.3
111
High
Philippines
7.8
174
High
Country
Uncertainty
Rating
High
Medium
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.
90
Morningstar April/May 2015
Morningstar Magazine - April/May 2015
Table of Contents for the Digital Edition of Morningstar Magazine - April/May 2015
Contents
Morningstar Magazine - April/May 2015 - Cover1
Morningstar Magazine - April/May 2015 - Cover2
Morningstar Magazine - April/May 2015 - 1
Morningstar Magazine - April/May 2015 - 2
Morningstar Magazine - April/May 2015 - Contents
Morningstar Magazine - April/May 2015 - 4
Morningstar Magazine - April/May 2015 - 5
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Morningstar Magazine - April/May 2015 - Cover3
Morningstar Magazine - April/May 2015 - Cover4
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