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Nifty FMCG P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty FMCG, which is currently fairly valued — the 33rd percentile of 6,711 daily closes since 1999. Close of 27 Oct 2026.

Every NSE index, cheapest first

How the Nifty FMCG’s valuation reads today

Against the market. The Nifty FMCG trades at 1.56× the Nifty 50’s P/E, against a median of 1.64× across 6,711 days they were both priced — about its usual relationship. A sector can look dear on its own numbers while being cheap against the market, and that gap is usually the more useful of the two.
The range it has actually traded in. Its P/E has been as low as 15.10 (Aug 2004) and as high as 56.46 (Feb 2000). Both ends are real closes, not a model — and the high end of an index P/E is usually an earnings collapse rather than a price melt-up, which is why the bands below are percentiles and not a mean.
Versus a year ago. 29.79 today, down from 41.80 a year ago. The ratio moves on price and on earnings, so a falling P/E can mean the index got cheaper or that its constituents earned more — the Nifty FMCG level itself is what separates the two.

Price to earnings

29.79Fairly valued

33rd percentile of 6,711 days · median 34.88

Price to book

7.16Fairly valued

13th percentile of 6,711 days · median 10.26

Dividend yield

2.67%Undervalued

94th percentile of 6,711 days · median 1.67

Where the Nifty FMCG P/E ratio sits today

Valuation zones for the Nifty FMCG price to earnings
Zone	P/E range	What it has meant
Undervalued	below 21.28	Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valuedyou are here	21.28 – 34.88	Nothing to act on. Keep SIPs running at their normal size.
Slightly expensive	34.88 – 44.50	Above the historical middle. Stagger a lump sum rather than timing it.
Expensive	above 44.50	Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 6,711 daily closes, with the median as the middle line — so the cheapest and dearest tenth of this index’s own history bound the outer zones, and one freak print cannot move them. They describe where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

When the Nifty FMCG P/E was here, what came next

For every month-end since 29 Feb 2012: the index’s annualised return over the following 1, 3 and 5 years, grouped by the valuation zone it started in. Median, with the worst and best start underneath.

Forward returns of the Nifty FMCG by starting P/E zone
Started in	Next 1Y	Next 3Y	Next 5Y
Undervalued	too few	too few	too few
Fairly valuedyou are here	+25.9% +10.5% to +50.3% 0% lost money	+14.8% +7.8% to +27.8% 0% lost money	+12.8% +11.0% to +17.3% 0% lost money
Slightly expensive	+10.9% -18.6% to +38.6% 11% lost money	+10.1% -4.6% to +20.3% 4% lost money	+11.1% +1.9% to +16.6% 0% lost money
Expensive	-5.1% -16.5% to +17.9% 79% lost money	too few	too few

Price return only (index levels carry no dividends, so each figure understates an investor’s return by about the dividend yield). Start months overlap: a 5-year window spans 60 of them, so the counts are not independent observations. A zone needs 12 starts before it is summarised. The past spread of outcomes is wide in every zone — this is a record, not a forecast.

All three, since 1999

Each cell is the median of that month’s daily closes — one day’s print can be an earnings-revision artefact, and on a grid this size that day would colour the whole month. Hover a cell for the trading-day count behind it, or the line above it for any day’s close. All three are always shown; the buttons at the top only change which metric the valuation zones describe.

Nifty FMCG P/E ratio, month by month

90th pct 44.50median 34.8810th pct 21.28

Price to earnings by month, 1999 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
1999	·	·	·	·	·	·	·	·	54.01	51.81	47.83	47.34
2000	51.77	49.87	47.13	45.02	42.01	46.45	50.01	46.09	45.95	38.44	39.52	41.82
2001	33.09	33.39	32.42	32.08	31.52	29.74	31.30	30.93	28.81	29.53	29.87	30.36
2002	30.18	27.02	26.90	25.08	23.99	23.16	23.28	22.01	22.05	21.00	20.12	18.93
2003	18.94	18.04	17.44	16.65	17.26	18.24	17.45	17.81	18.70	19.25	18.98	21.20
2004	22.88	21.19	18.79	19.05	17.22	16.18	16.72	15.68	16.61	16.63	17.51	19.71
2005	19.69	20.73	20.16	20.37	21.16	23.08	28.18	25.30	27.09	26.64	27.09	29.63
2006	30.21	34.12	37.05	36.25	33.81	28.39	29.38	29.20	30.30	30.17	28.30	27.61
2007	27.13	24.39	22.00	23.48	23.70	23.11	24.52	24.13	26.08	26.30	26.19	28.10
2008	29.38	27.49	26.97	28.76	28.80	25.45	22.65	24.38	24.20	21.14	20.92	21.77
2009	21.63	22.06	20.94	22.40	22.76	24.77	26.51	26.68	26.81	28.88	28.53	28.59
2010	28.48	26.26	26.72	27.37	27.08	28.43	29.57	29.89	31.61	32.24	31.80	30.98
2011	31.21	27.88	29.40	31.05	30.36	30.73	32.05	29.77	29.51	29.25	28.98	28.24
2012	28.10	27.88	28.90	31.98	31.38	31.79	32.58	32.79	33.60	35.62	34.17	35.73
2013	34.33	33.41	33.55	34.16	38.10	37.02	38.78	35.33	37.48	37.76	35.03	34.75
2014	34.79	33.38	34.85	35.62	34.94	34.17	34.63	35.11	36.31	34.74	35.95	36.00
2015	36.48	37.78	35.89	48.05	45.86	37.72	39.67	39.16	37.50	39.59	37.92	37.01
2016	35.75	34.34	35.82	36.63	36.34	35.07	36.88	37.28	37.68	35.64	34.45	34.18
2017	36.02	38.11	39.05	39.70	40.87	44.21	46.33	42.64	42.48	42.43	42.12	43.03
2018	44.03	41.93	40.61	42.17	44.09	43.43	44.05	46.59	44.14	41.13	41.97	43.19
2019	43.26	41.95	43.00	46.64	44.61	43.97	42.78	41.98	41.81	40.89	39.02	37.69
2020	39.01	36.77	30.20	33.50	32.02	35.07	37.82	39.80	39.17	37.32	39.81	43.53
2021	44.70	43.28	43.28	42.43	41.13	42.47	42.19	41.14	45.18	43.82	41.05	39.55
2022	39.80	37.62	36.76	39.33	38.53	37.75	42.08	41.17	42.14	41.85	40.74	41.71
2023	40.54	40.01	39.43	41.78	43.22	44.47	46.01	43.53	43.19	42.59	42.63	44.22
2024	45.41	43.09	42.92	42.23	44.43	45.80	47.78	48.93	50.89	49.30	45.95	45.01
2025	45.53	43.36	42.39	44.84	44.67	41.80	42.01	41.73	42.21	41.30	40.62	40.27
2026	38.45	37.30	34.69	35.01	35.61	33.69	33.76	33.43	31.63	30.59	·	·

cheapestdearest· shaded by rank among all 326 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty FMCG P/B ratio, month by month

90th pct 12.76median 10.2610th pct 6.67

Price to book by month, 1999 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
1999	·	·	·	·	·	·	·	·	16.89	16.20	14.95	14.80
2000	16.19	15.59	14.73	14.07	13.14	14.52	15.63	14.41	14.36	12.02	12.36	13.11
2001	10.54	10.63	10.32	10.22	10.04	9.39	9.97	9.85	9.18	9.40	9.51	9.67
2002	9.58	8.38	8.33	7.77	7.46	7.30	7.35	7.02	7.05	6.76	6.47	5.98
2003	5.98	5.70	5.51	5.21	5.40	5.69	5.32	5.28	5.37	5.52	5.42	6.05
2004	6.53	6.05	5.38	5.46	4.94	4.66	4.81	4.93	5.29	5.26	5.54	6.25
2005	6.25	6.63	6.45	6.52	6.77	7.37	7.89	7.48	8.06	7.93	8.05	8.80
2006	8.91	10.04	10.91	12.06	11.56	9.61	9.27	9.37	9.71	9.66	9.70	9.30
2007	9.02	8.69	7.83	8.36	8.35	8.20	8.43	8.11	8.66	8.80	8.64	8.85
2008	8.85	8.14	8.36	9.29	9.52	8.71	7.64	7.69	7.68	6.67	6.63	6.80
2009	6.79	6.78	6.40	6.84	7.00	7.57	7.38	7.55	7.61	8.28	8.40	8.26
2010	8.09	7.88	8.04	8.23	8.27	8.96	9.34	9.43	9.84	10.18	10.15	9.89
2011	9.96	9.18	9.71	10.65	10.71	11.03	10.72	10.17	10.17	9.89	10.26	9.64
2012	9.61	9.38	9.68	10.71	10.82	11.14	11.48	12.18	12.49	13.18	11.89	11.95
2013	11.65	11.67	11.73	11.94	13.34	13.20	13.83	12.33	13.16	11.81	11.22	11.20
2014	11.31	11.17	11.68	12.25	12.16	12.15	12.31	11.77	12.20	12.25	12.85	12.96
2015	13.23	13.93	13.20	13.69	13.19	12.72	11.95	11.74	11.22	11.81	11.90	11.74
2016	11.30	10.94	11.41	11.67	11.66	12.33	12.93	11.96	12.03	11.55	10.95	10.84
2017	11.36	12.09	12.38	12.57	12.95	14.00	14.65	13.35	13.32	10.70	10.61	10.95
2018	11.28	11.09	10.85	11.34	11.89	11.91	11.87	11.79	11.32	10.43	10.68	11.08
2019	10.96	10.73	11.07	12.39	12.14	12.02	10.80	10.46	10.35	10.70	10.82	10.50
2020	10.93	10.75	8.81	9.77	9.16	9.99	10.21	10.20	9.34	9.02	9.36	10.23
2021	10.43	10.20	10.09	10.40	10.39	8.91	8.91	9.43	10.42	10.07	9.66	9.31
2022	9.38	9.11	8.87	9.48	9.47	9.34	10.22	10.43	10.66	10.67	10.77	11.03
2023	10.75	11.07	10.94	11.53	12.17	12.59	12.93	12.54	11.85	10.76	10.95	11.34
2024	11.71	11.19	11.15	10.96	11.12	11.44	11.97	12.11	12.53	12.01	11.26	11.01
2025	11.05	10.41	10.13	10.74	10.80	10.27	10.66	10.58	10.70	10.06	10.00	9.91
2026	9.45	9.30	8.58	8.63	8.95	8.46	8.27	8.03	7.60	7.32	·	·

cheapestdearest

Nifty FMCG dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 2.51median 1.6710th pct 1.15

Dividend yield by month, 1999 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
1999	·	·	·	·	·	·	·	·	0.89	0.92	1.00	1.01
2000	0.93	0.96	1.02	1.06	1.14	1.03	0.96	1.04	1.04	1.25	1.21	1.14
2001	1.27	1.25	1.29	1.30	1.33	1.40	0.60	0.60	0.65	0.63	0.63	0.61
2002	0.62	1.83	1.84	1.97	2.06	2.09	2.09	2.20	2.19	2.30	2.40	2.40
2003	2.40	2.52	2.61	3.01	2.91	2.55	2.58	2.42	2.60	2.53	2.59	2.31
2004	2.15	2.32	2.60	2.57	2.84	3.04	2.95	3.67	3.47	4.11	3.90	2.92
2005	2.92	2.77	2.85	2.82	2.72	2.48	1.86	2.05	1.90	1.94	1.90	1.74
2006	1.69	1.49	1.38	1.24	1.29	1.55	1.65	1.62	1.56	1.56	1.55	1.60
2007	1.61	1.65	1.83	1.72	1.76	1.87	1.82	1.88	1.75	1.71	1.73	1.61
2008	1.54	1.68	2.03	1.94	1.90	2.07	2.34	2.29	2.34	2.67	2.65	2.55
2009	2.55	2.50	2.63	2.46	2.40	2.21	1.98	1.89	1.88	1.70	1.65	1.64
2010	1.64	1.69	1.65	1.61	1.61	1.48	1.42	2.13	2.02	2.15	2.15	2.21
2011	2.20	2.38	2.25	2.08	2.10	2.03	1.96	1.97	2.04	2.03	1.95	2.01
2012	2.00	1.83	1.76	1.59	1.62	1.55	1.50	1.42	1.39	1.30	1.35	1.31
2013	1.34	1.34	1.33	1.31	1.16	1.17	1.12	1.21	1.15	1.53	1.64	1.64
2014	1.62	1.65	1.58	1.52	1.53	1.45	1.38	1.48	1.44	1.52	1.45	1.43
2015	1.40	1.33	1.40	1.31	1.36	1.42	1.42	1.42	1.48	1.40	1.42	1.44
2016	1.50	1.55	1.49	1.46	1.46	1.38	1.33	1.66	1.64	1.71	1.80	1.81
2017	1.73	1.63	1.58	1.56	1.52	1.40	1.34	1.44	1.44	1.44	1.43	1.46
2018	1.42	1.44	1.48	1.41	1.35	1.35	1.32	1.15	1.19	1.27	1.25	1.19
2019	1.13	1.17	1.14	1.03	1.05	1.10	1.18	1.25	1.36	1.30	1.29	1.34
2020	1.29	1.32	1.59	1.43	1.53	1.40	1.41	1.38	1.47	1.55	1.49	1.36
2021	1.32	1.35	1.37	2.87	2.90	3.47	2.37	2.23	1.91	1.96	2.05	2.10
2022	2.08	2.25	2.23	1.97	2.01	2.14	1.92	1.86	1.81	1.80	1.79	1.74
2023	1.79	1.77	1.81	1.77	1.71	1.88	1.78	1.82	1.81	1.85	1.89	1.83
2024	1.80	1.93	1.95	1.94	1.85	1.70	1.67	1.70	1.65	1.70	1.85	1.87
2025	1.85	2.04	2.05	1.96	1.93	1.99	2.01	2.05	2.02	2.07	2.00	2.02
2026	2.12	1.60	1.71	1.68	1.62	0.95	0.98	0.98	1.04	2.58	·	·

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From the blog

Frequently asked questions

What is the Nifty FMCG P/E ratio today?

The Nifty FMCG closed at a price-to-earnings ratio of 29.79 on 27 October 2026. NSE publishes it once a day after the close, on a consolidated trailing-twelve-month basis, so it moves on the index and on quarterly earnings revisions — there is no intraday figure.

Is the Nifty FMCG overvalued right now?

Against its own history it is fairly valued: a P/E of 29.79 is the 33rd percentile of 6,711 daily closes, against a median of 34.88 over that span. That describes where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

What is a good P/E ratio for the Nifty FMCG?

There is no single good number, but there is a measured middle: 21.28 to 44.50 is the middle 80% of 6,711 daily closes, and the median sits at 34.88. Below 21.28 is the cheapest tenth of this index's own history and above 44.50 the dearest tenth. Compare it to the index's own past rather than to another market's — earnings mix and growth differ, so an Indian P/E and a US one are not the same quantity.

What is the Nifty FMCG P/B ratio?

The Nifty FMCG price-to-book ratio is 7.16 as of 27 October 2026, against a historical median of 10.26. P/B compares the index to the book value of its constituents' assets, which makes it the steadier of the two — book value does not swing on one quarter's earnings the way a P/E denominator can.

What is the Nifty FMCG dividend yield?

The Nifty FMCG dividend yield is 2.67% as of 27 October 2026, against a historical median of 1.67%. It reads backwards from the other two: a HIGH yield is the cheap end, because the same dividends are being bought for a lower price.

How often does this page update, and where do the numbers come from?

From NSE's own daily index file, which carries P/E, P/B and dividend yield for every index it prices — 144 of them have a meaningful P/E today. It is published once after each close and picked up by the hourly refresh, so the figures here are the last published close, never a live quote.