Price to Book Ratio (Price/Book Value)
The Book Value of a company is determined by subtracting the liabilities of a company from its assets.
This is one of the favorites of Benjamin Graham, the father of value investing. He looked for, among other things, stocks selling at less than 50% of its book value.
Research study published in the Journal of Finance in 1992 by Fama and French (two University of Chicago professors), documented the low risk, high return performance of low Price/Book Value stocks relative to growth stocks.