Investors looking for stocks in the Broadcast Radio and Television sector might want to consider either Fox Corporation (FOX) or Netflix (NFLX). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, Fox Corporation has a Zacks Rank of #2 (Buy), while Netflix has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that FOX is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

FOX currently has a forward P/E ratio of 11.29, while NFLX has a forward P/E of 46.41. We also note that FOX has a PEG ratio of 1.60. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NFLX currently has a PEG ratio of 1.77.

Another notable valuation metric for FOX is its P/B ratio of 1.78. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, NFLX has a P/B of 17.27.

These are just a few of the metrics contributing to FOX's Value grade of A and NFLX's Value grade of D.

FOX stands above NFLX thanks to its solid earnings outlook, and based on these valuation figures, we also feel that FOX is the superior value option right now.

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