I decided to have a look to see how the price of small companies compared to large companies. I obtained the median PE of companies whose market cap was in the range £100-200m, and compared them with the median PE of companies in the Footsie. Here's what I discovered ...
There are 130 companies in the £100-200m market cap range. The median PE is 9.
My database returned 98 companies in the Footsie (maybe a slight anomoly because there should, of course, be 100 of them), and I obtained a median PE of 13.
So large caps are 44% (=13/9) "more expensive" than small caps. Interesting, no?