The mathematical expression for the price of a stock at time $t$ using a benchmark PE ratio is

$($EPS denotes earnings per share.$)$

$P_t=$ Benchmark P$/$E ratio$/$Dividend per share

$P_t=$ Benchmark P$/$E ratio$/$EPS $S_t$

$P_t=$ Benchmark P$/$E ratio $EP{S}_t$

$P_t=$ Benchmark P$/$E ratio $$ Dividend per share