Answer: both time-series analyses and cross-sectional analyses.

## Explanation Price multiples are commonly used for both time-series and cross-sectional analyses: **Time-series analysis:** Comparing a company's current multiple (like P/E ratio) to its historical multiples to identify trends and determine if the stock is currently overvalued or undervalued relative to its own history. **Cross-sectional analysis:** Comparing a company's multiple to those of its peers or industry competitors to assess relative valuation within the same time period. Both approaches are valid and widely used in equity valuation: 1. **Time-series analysis** helps understand how a company's valuation has evolved over time 2. **Cross-sectional analysis** helps understand how a company is valued relative to its competitors Therefore, price multiples can be effectively used for both types of analyses, making option C the correct answer.

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