Price to Earnings

The price-to-earnings (P/E) ratio of asset  $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$ is defined thus:

$$//<![CDATA[ \begin{array}{l}\displaystyle \text{P/E}_{i} = \frac{P_{i}}{E_{i}}\end{array} //]]>$$

where:

$//<![CDATA[ \begin{array}{l}P_{i}\end{array} //]]>$ is the estimated fair value of asset  $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$
$//<![CDATA[ \begin{array}{l}\textit{E}_{i}\end{array} //]]>$ is the 5-year trailing average earnings of asset  $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$