Price to "free cash" flow would be a better measure than simple PE.  

As for price to sales and price to book....be VERY careful.  

Price to book, within certain industries (banks and insurance come to mind) can be very useful.  Price to book for a consumer staples company that has been buying back its own stock for the last twenty years (cuz they generate so much free cash flow) - totally useless.

Price to sales?   Well, Kroger vs. Apple....Kroger will sure look cheap.   But Kroger has razor thin EBIT margins, vs. Apple with EBIT margins you could drive a truck through (and no, I do not own Apple).  So looking at Price to sales is not at all helpful....