Ann: Dividend/Distribution - PLS, page-272

Min Res (NPAT from H1 2023 Results)
EPS = NPAT / Shares on Issue
= 390,000,000 / 191,212,161
= $2.039
(ASX Website says $1.847)

PE = Price per Share/EPS
= 84.91 / 1.847
= 45.97
(ASX Website says 46.01)

PLS (NPAT from H1 2023 Results)
EPS = NPAT / Shares on Issue
= 1,240,000,000 / 2,998,008,235
= $0.414
(ASX Website says $0.555)

PE = Price per Share/EPS
= 4.53/0.555
= 8.16
(ASX Website says 8.06)

For comparison of PE values:
Min Res PE / PLS PE
= 46.01 / 8.06
= 5.7 (This means Min Res PE is a factor of 5.7 times more than PLS)

If PLS had a PE Ratio equivalent to Min Res:
$4.53 x 5.7 = $25.82

From memory, the ASX has an average PE Ratio of 19. Even at a PE Ratio of 19, PLS shares could be valued at:
19 / 8.06 = 2.35 times
= $10.67