Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company to watch right now is Daikin Industries (DKILY). DKILY is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 19.63, while its industry has an average P/E of 23.67. Over the last 12 months, DKILY's Forward P/E has been as high as 26.69 and as low as 18.20, with a median of 23.04.

Another notable valuation metric for DKILY is its P/B ratio of 2.03. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. DKILY's current P/B looks attractive when compared to its industry's average P/B of 4.53. Within the past 52 weeks, DKILY's P/B has been as high as 2.91 and as low as 1.84, with a median of 2.36.

Finally, investors should note that DKILY has a P/CF ratio of 11.79. This data point considers a firm's operating cash flow and is frequently used to find companies that are undervalued when considering their solid cash outlook. This stock's P/CF looks attractive against its industry's average P/CF of 13.49. Over the past 52 weeks, DKILY's P/CF has been as high as 15.17 and as low as 10.65, with a median of 13.27.

These are just a handful of the figures considered in Daikin Industries's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that DKILY is an impressive value stock right now.

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