---
title: "Nifty PE Ratio History"
canonical: "https://tapetide.com/insight/market-valuation/nifty-pe-ratio-history"
last_updated: "2026-10-23"
generated_at: "2026-10-25T11:58:36.193Z"
---

# Nifty PE Ratio History

The Nifty 50 PE ratio is 19.05 as of 23 Oct 2026, below its 5-year average of 21.88 and below its 10-year average of 24.70. It is at the 0.7th percentile of 2,668 daily readings since 1 Jan 2016: 0.7% of them were at or below today's level.

Index PE has been computed on consolidated earnings since 31 Mar 2021, which lowered the published figure overnight. Counting only the 1,374 readings since then, the average is 22.56, the range is 18.92 to 33.61, and today's PE is at the 0.4th percentile of them.

## What Nifty PE means

The Nifty 50 PE (price-to-earnings) ratio is the index's free-float market capitalisation divided by the combined trailing twelve-month earnings of its 50 constituents. It reads as how many rupees the market is paying for each rupee of the index's annual profit. NSE, the index publisher, releases it with every close alongside price-to-book (PB) and dividend yield.

PE moves for two reasons: prices change every session, while earnings update as companies report each quarter. A falling PE can mean prices fell, earnings grew, or both; a rising PE the reverse. PB compares price with book value, which changes slowly, and dividend yield moves opposite to price, so reading the three together shows whether a move came from price or from profits.

History gives the current reading context, not a verdict. Averages and percentiles describe where today sits among past readings, and the published series changed basis when the publisher moved from standalone to consolidated earnings. Readings before and after that switch are not strictly like-for-like.

Historical index valuation data for research and information only. Not investment advice, and not a forecast: a percentile describes where today sits in past readings, not what happens next.

Canonical page: https://tapetide.com/insight/market-valuation/nifty-pe-ratio-history

Methodology:

- Daily closing PE, PB and dividend yield for the Nifty 50 as published by the index provider, 1 Jan 2016 to 23 Oct 2026.
- Percentile: the share of all stored daily readings at or below the current one. Averages are simple means of daily readings over the trailing 5 and 10 years; a window longer than the stored history is not shown.
- Highs and lows are daily closing readings over the stored range only, not the index’s full lifetime.
- Yearly table: the last reading of each calendar year, and that year's high, low and average. 2026 is shown year to date.
- Index PE has used consolidated earnings since 31 Mar 2021; earlier readings used standalone earnings.
- The chart plots the last reading of each week. Updated after each trading session.

### Summary, 2016-01-01 to 2026-10-23

| Metric | Current | Percentile | 5y avg | 10y avg | Median | High | High date | Low | Low date |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PE | 19.05 | 0.7 | 21.88 | 24.7 | 23.14 | 42 | 2021-02-08 | 17.15 | 2020-03-23 |
| PB | 2.78 | 2.2 | 3.82 | 3.69 | 3.58 | 4.88 | 2023-07-20 | 2.17 | 2020-03-23 |
| Dividend yield % | 1.52 | 95.8 | 1.29 | 1.26 | 1.26 | 2 | 2020-03-23 | 0.93 | 2017-09-01 |

### Nifty 50 PE, PB and dividend yield by year

Year-end is the last reading of the calendar year; the current year is year to date.

| Year | PE year-end | PE high | PE low | PE avg | PB year-end | PB avg | Div yield % year-end | Div yield % avg |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (YTD) | 19.05 | 22.92 | 19.02 | 20.8 | 2.78 | 3.15 | 1.52 | 1.27 |
| 2025 | 22.75 | 23.04 | 19.63 | 21.88 | 3.55 | 3.49 | 1.28 | 1.31 |
| 2024 | 21.79 | 24.38 | 20.81 | 22.72 | 3.53 | 3.9 | 1.27 | 1.23 |
| 2023 | 23.17 | 24.24 | 19.97 | 21.72 | 3.81 | 4.13 | 1.28 | 1.38 |
| 2022 | 21.79 | 25.37 | 18.92 | 21.52 | 4.25 | 4.22 | 1.27 | 1.29 |
| 2021 | 24.11 | 42 | 22.92 | 30.61 | 4.37 | 4.29 | 1.19 | 1.1 |
| 2020 | 38.45 | 38.45 | 17.15 | 28.59 | 3.96 | 3.17 | 1.14 | 1.43 |
| 2019 | 28.3 | 29.9 | 25.64 | 27.7 | 3.75 | 3.57 | 1.24 | 1.25 |
| 2018 | 26.17 | 28.72 | 24.12 | 26.41 | 3.38 | 3.56 | 1.24 | 1.2 |
| 2017 | 26.92 | 26.96 | 21.94 | 24.73 | 3.55 | 3.47 | 1.08 | 1.14 |
| 2016 | 21.93 | 24.54 | 18.65 | 21.93 | 3.1 | 3.2 | 1.35 | 1.37 |

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Compiled by Tapetide from exchange and regulator disclosures (NSE, BSE, SEBI) unless a section states otherwise — any figure marked unofficial or indicative is not an official disclosure. For research and information only, not investment advice. Generated 2026-10-25T11:58:36.193Z.