Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

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.

One company to watch right now is Cardinal Health (CAH). CAH is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock holds a P/E ratio of 14.87, while its industry has an average P/E of 17.78. Over the last 12 months, CAH's Forward P/E has been as high as 15.66 and as low as 12.37, with a median of 14.14.

Investors should also note that CAH holds a PEG ratio of 1.39. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CAH's PEG compares to its industry's average PEG of 2.02. CAH's PEG has been as high as 1.55 and as low as 0.86, with a median of 1.12, all within the past year.

Finally, our model also underscores that CAH has a P/CF ratio of 14.89. 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. CAH's current P/CF looks attractive when compared to its industry's average P/CF of 19.33. Over the past 52 weeks, CAH's P/CF has been as high as 21.93 and as low as 13.34, with a median of 17.16.

These are only a few of the key metrics included in Cardinal Health's strong Value grade, but they help show that the stock is likely undervalued right now. When factoring in the strength of its earnings outlook, CAH looks like an impressive value stock at the moment.

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Cardinal Health, Inc. (CAH) : Free Stock Analysis Report

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