Yes, that's why learning lambda values makes life easier because it's the same across the fuels. 1 lambda is stoichiometric for gasoling, E10, E20, E85, E100, or whatever. It's always the same.
lambda = AFR / AFR stoich
So when your gauge is reading 14.7 with E85, then you are at stoichiometric conditions because that's a lambda of 1. Though, technically the actual AFR with E85 would be ~9.87, but the wideband controllers gives you gasoline AFRs.