The aim of this paper is to investigate and adopt the relationship between the forward earnings to price ratio and sales growth and also firm’s risk in Tehran stock exchange in a short term, midterm and long term periods. Hence, a sample of 67 firms from 2008 to 2014 is collected by a systematic elimination selection method. In this paper, we initially studied the relationship between forward earnings to price ratio and sales growth. Then we captured the relationship between forward earnings to price ratio and firm’s risk. In order to test hypothesis multiple regressions with estimated generalized least square method were employed. The results showed that there is a significant negative relationship between forward earnings to price ratio and sales growth in all three horizons. Besides the results of testing the second hypothesis showed that there is no significant relationship between forward earnings to price ratio with firm’s risk in all three horizons.