PE should equate to growth rate, PE = 5 means you expect a 5% growth, so if a company is trading at PE 5 and you expect a 10% growth, then you have a deal.
Next is Long term growth+yield divide by PE, the higher the better, 1.5 is neutral, 2 is good, 3 is a steal.
Ways to gauge growth, order book and projects sold under development. Also take 10 years earnings, take av of last 3 years and the latest 3 years, there should be a growth and no losses in any year. Check also gearing level
* the closer you get to the finished products, the greater the "discount" you assigned to it, if you are commodity, CPO, the NAV is relative conservative, the inventories might need less discounting.
Effect on capex, monitor capex plans over a long period of time.
True growth, are growth that outpaced the receivables and inventories