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\\  \\The paper is organised as follow. First section recapitulates theoretical and empirical findings in Pierre and al. regarding the link between \textit{DDM}, \textit{RIM}, \textit{PB-ROE}, and how to combine financial screens and fundamental analysis when using the Profitablity-Valuation framework. In the second section, we show how to adapt this approach to cash-flow based valuations measures; links between Profitablity-Valuation screens, fundamental analysis and Discounted Cash-Flow (hereafter \textit{DCF}) valuation are also explicitly described. In this section we also show how a cash-flow based Profitablity-Valuation framework is in fact identical to the Economic Value Added (hereafter \textit{EVA}) which is also known as Residual Cash-Flow and thus comparable to Residual Income.  $V_{t}=\displaystyle\sum_{i=1}^{K}\frac{C_{t+i}}{(1+R)^i}+V_{t+K}$  $EV_{t}=\displaystyle\sum_{i=t+1}^{t+K}\frac{FCFF_i}{(1+R)^i}+EV_{t+K}$  $P_{t}=\displaystyle\sum_{i=1}^{K}\frac{D_{t+i}}{(1+R)^i}+P_{t+K}$  $P_{t}=\displaystyle\sum_{i=1}^{\infty}\frac{D_{t+i}}{(1+R)^i}\approx\frac{D_{1}}{R-g}$  $B_{t}-B_{t-1}=E_{t}-D_{t}$  $B_{t}=E_{t}-RB_{t-1}$  This should allow to contourner caveats of earnings/dividends valuation model. We build a new Profitability/Valuation framework that hinges on the cash-flows a firm is able to generate. Using cash-flows allows to neutralize the leverage effect at the operating level of a firm as well as the balance sheet level. The paper is organized as follow. As a means of introduction we remind the basic principles behind asset valuation and show how they can be translated into equity valuation models. In the first section, we give a brief description of the links between the \textit{DDM}, the \textit{RIM} and the \textit{PB-ROE} framework. We also show how the \textit{PB-ROE} framework can be used as a screening tool for equity investors. In the second section, we show how we can build a new Profitability/Valuation framework based on a firm's cash-flows instead of a firms earnings. the deals with accounting relationship.