The formula for Leading P/E is (1-b) / r - g wih (1-b) being the dividend payout ratio.

The formula for DDM is D1 / r-g

In theory these could give the same answer correct?

If (1-b) = 0.4 and D1 = 0.40 in the DDM, then the P/E ratio would be the same as the stock price, correct? Or am i missing something?