Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

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.

Zynex (ZYXI Quick QuoteZYXI - Free Report) is a stock many investors are watching right now. ZYXI is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 17.43, which compares to its industry's average of 20.57. Over the last 12 months, ZYXI's Forward P/E has been as high as 27.23 and as low as 13.34, with a median of 17.25.

Finally, our model also underscores that ZYXI has a P/CF ratio of 28.39. 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. ZYXI's P/CF compares to its industry's average P/CF of 33.77. Within the past 12 months, ZYXI's P/CF has been as high as 33.50 and as low as 12.37, with a median of 17.31.

These are just a handful of the figures considered in Zynex'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 ZYXI is an impressive value stock right now.