If I was put in control of valuing a target company that has good potential for growth, but has not yet recorded a profit, or earnings, which valuation method should I use? What problems would I run into if I was using the P/E method? What is a better alternative method to use for a company that has not yet recorded profit? Would it be the Discounted Dividend Model (constant dividend/non-constant dividend), the EVA (Economic value added) approach, or the Corporate Valuation method? Should Price-to-Sales multiple, Price to Cash Flow multiple, or Market to Book Value be used?

I'm not looking for a really long answer. I just really want to know which method is preferred for valuating a business that has not recorded yet profit and why?