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DEFINITION of 'Forward Price To Earnings-Forward P/E'. A measure of the price-to-earnings ratio (P/E) using forecasted earnings for the P/E calculation.While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis.REAKING DOWN 'Forward Price To Earnings-Forward P/E'. The estimated P/E of a company is often used to compare current earnings to estimated future earnings. If earnings are expected to grow in the future, the estimated P/E will be lower than the current P/E.