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Price-to-book is a very well-studied value measure. What research is there on non-P/B value measures?

I came across a handful used by AQR (Sales/EV, Cash flow/EV, E/P, Forecasted Earnings/Price) but the bibliography doesn't cite any other papers that study these measures.

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  • $\begingroup$ I don't think there is a list specifically. In principle any reasonable way you use to calculate a fundamental value of a security is a value measure. $\endgroup$
    – SMeznaric
    Commented Mar 24, 2016 at 13:01

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I think a very good paper that summarizes the empirical evidence on other measures of value is the Lettau and Wachter (2007). Take a look at their tables 1, 2 and 3 for the most standard uses of value measures which indeed match with AQRs measures.

Below their table 1, just for completeness:

enter image description here

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