Is it possible to precompute the projection-view matrix?

The standard way to calculate mvp matrix is:

**P*V*M * v1 = v2**

In rendering my entity list, I would like to do something like the following:

(for those not involved in games, an "entity" is a "unit" in the game world, such as an enemy or ally, the mapping typically being one entity to one (animated) mesh)

Code :

update()
create camera matrix
create view matrix as inverse of camera matrix
precalculate combined pv matrix
for each entity
m * pv //as opposed to m * p * v if no precalc of pv
make draw call

...Since this would result in one less matrix mul() per-entity, per-update -- leading to a fair saving when there are hundreds of entities active. Just not sure this is possible (mathematically) since then the matrix multiplication order p * v * m is duffed. Is there a way to do this, mathematically?