Investors with an interest in Internet - Content stocks have likely encountered both YY (YY Quick QuoteYY - Free Report) and Tencent Music Entertainment Group Sponsored ADR (TME Quick QuoteTME - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. 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.

YY has a Zacks Rank of #2 (Buy), while Tencent Music Entertainment Group Sponsored ADR has a Zacks Rank of #3 (Hold) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that YY is likely seeing its earnings outlook improve to a greater extent. But this is only part of the picture for value investors.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

YY currently has a forward P/E ratio of 10.34, while TME has a forward P/E of 37.16. We also note that YY has a PEG ratio of 0.73. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. TME currently has a PEG ratio of 0.80.

Another notable valuation metric for YY is its P/B ratio of 0.91. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, TME has a P/B of 4.38.

Based on these metrics and many more, YY holds a Value grade of B, while TME has a Value grade of D.

YY sticks out from TME in both our Zacks Rank and Style Scores models, so value investors will likely feel that YY is the better option right now.