calculating Intrinsic value or using DCF value is not helpful. Most of these calculations consider so many assumptions that two people with different assumption values can reach to exactly opposite conclusions.
Even comparing past average PE is not helpful as there might be drastic change in the business model as well as product portfolio of the company and hence current PE can be very different, and rightly so , compared to PE 5 years ago.
Even in case of Peers , its very challenging to compare. No two companies are same. Their moats can be very different. Their managment style can be very different and their geographical market can be very different. For example, in Paints industry, Asian Paints can be valued differently than Nerolac etc.
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