I would think leading, correct? Or does it matter?
that would have to tell us which one to use.
I just looked this up in schweser. They don’t explicitly say, but their example uses leading p/e. Which makes sense since this is projected.
There is a question in the CFAI book from 2006 exam which asks which of the following has stocks has the lowest PEG ratio. But it does ask to find it using leading p/e.