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.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of 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 value investors might notice is Daikin Industries (DKILY). DKILY is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 19.38, while its industry has an average P/E of 20.10. Over the past 52 weeks, DKILY's Forward P/E has been as high as 29.26 and as low as 19.38, with a median of 23.42.

Another notable valuation metric for DKILY is its P/B ratio of 2.06. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 3.65. DKILY's P/B has been as high as 3.22 and as low as 2.06, with a median of 2.49, over the past year.

Finally, investors should note that DKILY has a P/CF ratio of 14.03. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. DKILY's P/CF compares to its industry's average P/CF of 18.71. Over the past 52 weeks, DKILY's P/CF has been as high as 17.78 and as low as 13.20, with a median of 14.67.

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

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