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.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.

One company to watch right now is Ono Pharmaceutical Co. (OPHLF Quick QuoteOPHLF - Free Report) . OPHLF is currently sporting a Zacks Rank #1 (Strong Buy) and an A for Value.

We should also highlight that OPHLF has a P/B ratio of 0.9. 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. OPHLF's current P/B looks attractive when compared to its industry's average P/B of 1.59. Over the past year, OPHLF's P/B has been as high as 1.33 and as low as 0.80, with a median of 0.97.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's 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. OPHLF has a P/S ratio of 2.11. This compares to its industry's average P/S of 2.88.

Finally, our model also underscores that OPHLF has a P/CF ratio of 9.59. 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. OPHLF's current P/CF looks attractive when compared to its industry's average P/CF of 12.68. Over the past year, OPHLF's P/CF has been as high as 11.56 and as low as 5.73, with a median of 8.47.

These are just a handful of the figures considered in Ono Pharmaceutical Co.'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 OPHLF is an impressive value stock right now.