[Verse 1]
When earnings deceive and profits disguise
Three ratios cut through the corporate lies
Price-to-Book reveals the treasure chest
What shareholders own when put to the test
Take market cap, divide by book
Assets minus debts, take a closer look
[Chorus]
Book and Sales and Cash Flow too
Three new lenses, crystal view
P-B when assets gleam
P-S for the revenue stream
P-CF when cash is king
These multiples make the numbers sing
[Verse 2]
Price-to-Sales ignores the bottom line
Revenue focus, pure and fine
Perfect when the red ink flows
New companies, that's how it goes
Market cap divided by sales
When profit margins tell no tales
[Chorus]
Book and Sales and Cash Flow too
Three new lenses, crystal view
P-B when assets gleam
P-S for the revenue stream
P-CF when cash is king
These multiples make the numbers sing
[Verse 3]
Price-to-Cash-Flow cuts through the noise
Depreciation's accounting toys
Operating cash or free cash flow
Shows the money's real-time glow
Capital heavy industries shine
When cash beats earnings every time
[Bridge]
But beware the hidden traps inside
Book values can't always be your guide
Intangibles might disappear
Sales without profit bring you tears
And cash flow timing plays its games
Seasonal swings and working capital claims
[Chorus]
Book and Sales and Cash Flow too
Three new lenses, crystal view
P-B when assets gleam
P-S for the revenue stream
P-CF when cash is king
These multiples make the numbers sing
[Outro]
No single ratio tells the whole story
Combine them all for valuation glory
Book for tangible, sales for growth
Cash flow for the money oath