P / BV = ROE - G / K - G P / E = Div Payout / K - G Div payout = ROE - G ??? P/E = P/BV?
Your P/E equation is closer to the intrinsic value of P. For leading P/E you’ll have to divide by earnings. P/E = D/E/(k-g) = (1-b)/(k-g) Price-per-Earnings is quite different than Price-per-book value and the sector will determine which one is best applicable.