Investors looking for stocks in the Broadcast Radio and Television sector might want to consider either Fox Corporation (FOX) or Netflix (NFLX). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Currently, Fox Corporation has a Zacks Rank of #2 (Buy), while Netflix has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that FOX likely has seen a stronger improvement to its earnings outlook than NFLX has recently. However, value investors will care about much more than just this.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.

FOX currently has a forward P/E ratio of 11.87, while NFLX has a forward P/E of 45.95. We also note that FOX has a PEG ratio of 1.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NFLX currently has a PEG ratio of 1.75.

Another notable valuation metric for FOX is its P/B ratio of 1.88. 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. By comparison, NFLX has a P/B of 17.10.

These metrics, and several others, help FOX earn a Value grade of A, while NFLX has been given a Value grade of D.

FOX stands above NFLX thanks to its solid earnings outlook, and based on these valuation figures, we also feel that FOX is the superior value option right now.

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