Investors with an interest in Internet - Content stocks have likely encountered both China Distance (DL) and Yelp (YELP). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.China Distance and Yelp are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that DL's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture 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.DL currently has a forward P/E ratio of 8.77, while YELP has a forward P/E of 48.12. We also note that DL has a PEG ratio of 0.58. 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. YELP currently has a PEG ratio of 1.94.Another notable valuation metric for DL is its P/B ratio of 1.41. 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. For comparison, YELP has a P/B of 2.63.These are just a few of the metrics contributing to DL's Value grade of A and YELP's Value grade of D.DL stands above YELP thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DL is the superior value option right now.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report China Distance Education Holdings Limited (DL): Free Stock Analysis Report Yelp Inc. (YELP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research