The P/E average is simply a measurement of a player’s production numbers plus efficiency numbers divided by plate appearances.
For production numbers, Messmer adds RBIs and runs scored, subtracting home runs to eliminate the overlap. He calls this “net runs.”
For efficiency numbers, Messmer adds total bases, walks, hit-by-pitch and steals, subtracting caught stealing. He calls this “complete bases.”
The calculation: (net runs + net runs + complete bases) / plate appearances.
Messmer says a P/E around .800 or .900 is OK, anything above 1.000 is pretty good, 1.200 is an MVP-type season, and 1.500 is a number reached in a season only 23 times.
A-Rod, if you’re curious, had a 1.415 P/E average last year, far and away best in baseball.
Is it perfect? Of course not. Just on the surface, Messmer’s stat doesn’t take into account park, league, or era factors, which makes comparisons a little dubious. And with the net runs doubled, P/E is still weighted slightly toward guys in big-time lineups.