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Do you prefer searching for stocks that appear to be undervalued? We ran a screen with this idea in mind.

We began by screening the large-cap sector for stocks that appear undervalued relative to earnings growth, with PEG below 1.

Then we screened that universe for those that appear undervalued relative to the Graham Number. The Graham Number is a measure of maximum fair value created by the "godfather of value investing" Benjamin Graham.

It is based off of a stock's EPS and book value per share (BVPS).

Graham Number = SQRT(22.5 x TTM EPS x MRQ BVPS)

The equation assumes that P/E should not be higher than 15 and P/BV should not be higher than 1.5. Stocks trading well below their Graham Number may be undervalued.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks are being undervalued? Use this list as a starting point for your own analysis.

1. Aetna Inc. (NYSE:AET): Operates as a diversified health care benefits company in the United States. Market cap at $15.47B, most recent closing price at $46.24. Diluted TTM earnings per share at 5.23, and a MRQ book value per share value at 32.58, implies a Graham Number fair value = sqrt(22.5*5.23*32.58) = $61.92. Based on the stock's price at $45.57, this implies a potential upside of 35.87% from current levels. PEG at 0.78.

2. AFLAC Inc. (NYSE:AFL): Provides supplemental health and life insurance. Market cap at $24.86B, most recent closing price at $53.01. Diluted TTM earnings per share at 6.07, and a MRQ book value per share value at 34.1, implies a Graham Number fair value = sqrt(22.5*6.07*34.1) = $68.24. Based on the stock's price at $53.23, this implies a potential upside of 28.21% from current levels. PEG at 0.88.

3. Energy Transfer Partners LP (NYSE:ETP): Engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. Market cap at $12.71B, most recent closing price at $42.30. Diluted TTM earnings per share at 4.35, and a MRQ book value per share value at 27.38, implies a Graham Number fair value = sqrt(22.5*4.35*27.38) = $51.77. Based on the stock's price at $42.87, this implies a potential upside of 20.75% from current levels. PEG at 0.57.

4. Marathon Petroleum Corporation (NYSE:MPC): Engages in refining, transporting, and marketing petroleum products primarily in the United States and internationally. Market cap at $21.04B, most recent closing price at $62.02. Diluted TTM earnings per share at 7.36, and a MRQ book value per share value at 33.83, implies a Graham Number fair value = sqrt(22.5*7.36*33.83) = $74.85. Based on the stock's price at $62.83, this implies a potential upside of 19.13% from current levels. PEG at 0.69.

5. National Oilwell Varco, Inc. (NYSE:NOV): Designs, constructs, manufactures, and sells systems, components, and products used in oil and gas drilling and production; provides oilfield services and supplies; and distributes products, and provides supply chain integration services to the upstream oil and gas industry worldwide. Market cap at $28.59B, most recent closing price at $66.97. Diluted TTM earnings per share at 5.63, and a MRQ book value per share value at 45.85, implies a Graham Number fair value = sqrt(22.5*5.63*45.85) = $76.21. Based on the stock's price at $64.87, this implies a potential upside of 17.48% from current levels. PEG at 0.88.

Source: 5 Large Caps Undervalued By Earnings Growth And The Graham Number