Investors interested in Agriculture – Operations stocks are likely familiar with FMC (FMC) and Corteva, Inc. (CTVA). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

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.

Right now, FMC is sporting a Zacks Rank of #2 (Buy), while Corteva, Inc. has a Zacks Rank of #3 (Hold). This means that FMC's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.

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.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

FMC currently has a forward P/E ratio of 11.66, while CTVA has a forward P/E of 24.03. We also note that FMC has a PEG ratio of 1.26. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. CTVA currently has a PEG ratio of 1.74.

Another notable valuation metric for FMC is its P/B ratio of 1.1. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CTVA has a P/B of 2.01.

These are just a few of the metrics contributing to FMC's Value grade of B and CTVA's Value grade of D.

FMC has seen stronger estimate revision activity and sports more attractive valuation metrics than CTVA, so it seems like value investors will conclude that FMC is the superior option right now.

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FMC Corporation (FMC) : Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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