When Ann Miletti decides how much to pay for a stock, her analysis doesn't stop at price-earnings ratios. Instead she aims to figure out what someone would pay to take over the entire enterprise. Her team eyeballs ratios such as enterprise value (EV) to operating earnings and EV to sales. They also check out comparable buys and discounted cash flow. And they do it all to each unit if a company owns separate businesses. "It is a combination of art