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 tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

One company value investors might notice is Nomura (NMR Quick QuoteNMR - Free Report) . NMR is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 9.7 right now. For comparison, its industry sports an average P/E of 14.28. Over the last 12 months, NMR's Forward P/E has been as high as 11.13 and as low as 6.19, with a median of 8.63.

We should also highlight that NMR has a P/B ratio of 0.89. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. This company's current P/B looks solid when compared to its industry's average P/B of 2.54. Over the past 12 months, NMR's P/B has been as high as 0.90 and as low as 0.62, with a median of 0.77.

Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. NMR has a P/S ratio of 0.83. This compares to its industry's average P/S of 2.33.

Finally, our model also underscores that NMR has a P/CF ratio of 7.63. 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 16.89. NMR's P/CF has been as high as 9.60 and as low as 5.73, with a median of 7.23, all within the past year.

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