While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

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.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

Santander Mexico (BSMX Quick QuoteBSMX - Free Report) is a stock many investors are watching right now. BSMX is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with a P/E ratio of 8.15, which compares to its industry's average of 10.60. BSMX's Forward P/E has been as high as 9.49 and as low as 4.99, with a median of 7.37, all within the past year.

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. BSMX has a P/S ratio of 1.18. This compares to its industry's average P/S of 1.82.

Finally, investors will want to recognize that BSMX has a P/CF ratio of 6.24. 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. This company's current P/CF looks solid when compared to its industry's average P/CF of 13.73. Over the past year, BSMX's P/CF has been as high as 6.52 and as low as 2.56, with a median of 4.37.

These are just a handful of the figures considered in Santander Mexico'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 BSMX is an impressive value stock right now.