Calculate PE by using payout ratio, cost of equity and growth (Damodaran) for 3 stage?

CFA Level II Equities
#1

Dear all,

I’m reading earning multiple chapter in Damodaran book. He demonstrates the formulas to calculate PE by using payout ratio, cost of equity and growth rate for 1 and 2 stage but he don’t show formulas for 3 stage as FCFF or FCFE.

Please help me how is formulas for 3 stage?

Thanks a lot