Sory you do not get it. it is a great way to cheack how the company is currently valued. So I look at a finance page Google, MS my broker the TMM Pe is right there. a few weeks ago when Lynas was at 3.15 the TMM PE was 108 I pointed out then this indicated it was grosly over priced A very easy and quick way to judge. Today SP 2.33 PE 80 still over priced but not as bad. But the very fact that the PE droped 30 points in just a few weeks is why it would never be used for a mid 2021 predictions. they would use EPS. You do not use PE to make detailed comparisons to other stocks. You use it to make quick judgemts of how that stock compares to the market in general. and other stocks in its sector.
For instance I have stated many times the ASX 200 Pe is about 15. So lynas at 80 is selling at a significant premimume to ASX 200.. here is a chart of asx PE since 1980 https://www.marketindex.com.au/statistics
S&P 500 PE 21 https://www.multpl.com/s-p-500-pe-ratio/table/by-month
If I want to compare to other mining stocks I could go to https://www.gurufocus.com/industry_overview.php?industry=Metals-and-Mining
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