The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find 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 a variety of methods, including tried-and-true valuation metrics, to find these stocks.

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 Novartis (NVS). NVS is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A.

We should also highlight that NVS has a P/B ratio of 3.88. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. NVS's current P/B looks attractive when compared to its industry's average P/B of 5.43. Over the past 12 months, NVS's P/B has been as high as 4.64 and as low as 2.43, with a median of 2.71.

Finally, investors will want to recognize that NVS has a P/CF ratio of 11.11. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. NVS's current P/CF looks attractive when compared to its industry's average P/CF of 14.38. Over the past 52 weeks, NVS's P/CF has been as high as 12.04 and as low as 9.17, with a median of 10.65.

Value investors will likely look at more than just these metrics, but the above data helps show that Novartis is likely undervalued currently. And when considering the strength of its earnings outlook, NVS sticks out at as one of the market's strongest value stocks.

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