There is not just one agreed upon PEG formula. There are several. Some use trailing PE; some use forward PE. Some use 1-year projected growth; some use 5-year projected growth. The point of PEG is that a low PE (trailing and/or forward) by itself might not indicate a value stock, but actually a failing company. Since PEG relates the PE to growth prospects, it would seem to be a more, not less, accurate estimate of value than (any) PE alone. You said, "In your experience". How has your experience shown that PEG is worse. I mean it does not require experience to suppose a relationship where two of the three variables (P, E, G) are future guesses might be inaccurate. Could you clarify, please?