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Interested in company sales trends? One way to look at a company's sales is by comparing growth in revenue to growth in inventory - if inventory is growing faster, it may signal some problems.

We ran a screen on large-cap stocks that appear undervalued relative to earnings growth, with PEG below 1. We then screened for stocks with positive inventory trends, as indicated by faster growth in revenue than growth in inventory year-over-year, as well as inventory comprising a smaller portion of current assets over that time period.

To think why these trends are positive, think why the opposite trends would be negative: if revenue were growing slower than inventory, it may indicate trouble selling inventory. Although it could just signal an intentional change in the amount of inventory held.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think these companies are seeing strong sales? Use this list as a starting point for your own analysis.

1. Apache Corp. (APA): Operates as an independent energy company. Market cap at $41.53B. PEG at 0.88. Revenue grew by 25.13% during the most recent quarter ($4,297M vs. $3,434M y/y). Inventory grew by 16.13% during the same time period ($655M vs. $564M y/y). Inventory, as a percentage of current assets, decreased from 16.21% to 13.64% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

2. BRF - Brasil Foods S.A. (BRFS): Produces and sells poultry, pork, beef cuts, milk, dairy products, and processed food products in Brazil and internationally. Market cap at $18.52B. PEG at 0.54. Revenue grew by 10.35% during the most recent quarter ($6,292M vs. $5,702M y/y). Inventory grew by -2.21% during the same time period ($2,872M vs. $2,936.89M y/y). Inventory, as a percentage of current assets, decreased from 30.86% to 25.89% during the most recent quarter (comparing 3 months ending 2011-09-30 to 3 months ending 2010-09-30).

3. Companhia Brasileira de Distribuicao (CBD): Operates as a retailer of food products, clothing, home appliances, and other products through its chain of hypermarkets, supermarkets, specialized and department stores, convenience stores, and the Internet in Brazil. Market cap at $12.32B. PEG at 0.92. Revenue grew by 21.18% during the most recent quarter ($13,371M vs. $11,034M y/y). Inventory grew by 15.11% during the same time period ($5,553M vs. $4,824M y/y). Inventory, as a percentage of current assets, decreased from 32.88% to 32.14% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

4. CF Industries Holdings, Inc. (CF): Manufactures and distributes nitrogen and phosphate fertilizer products, serving agricultural and industrial customers worldwide. Market cap at $11.80B. PEG at 0.81. Revenue grew by 38.85% during the most recent quarter ($1,718.4M vs. $1,237.6M y/y). Inventory grew by 12.54% during the same time period ($304.2M vs. $270.3M y/y). Inventory, as a percentage of current assets, decreased from 20.15% to 16.91% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

5. Cummins Inc. (CMI): Designs, manufactures, distributes, and services diesel and natural gas engines, electric power generation systems, and engine-related component products worldwide. Market cap at $23.86B. PEG at 0.78. Revenue grew by 18.89% during the most recent quarter ($4,921M vs. $4,139M y/y). Inventory grew by 8.3% during the same time period ($2,141M vs. $1,977M y/y). Inventory, as a percentage of current assets, decreased from 31.44% to 30.19% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

6. Canadian Natural Resources Limited (CNQ): Engages in the exploration, development, production, marketing, and sale of crude oil, natural gas liquids, and natural gas. Market cap at $38.67B. PEG at 0.58. Revenue grew by 25.69% during the most recent quarter ($4,218M vs. $3,356M y/y). Inventory grew by 15.3% during the same time period ($550M vs. $477M y/y). Inventory, as a percentage of current assets, decreased from 22.62% to 19.78% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

7. Randgold Resources Ltd. (GOLD): Engages in the exploration and mining of gold mines in west and central Africa. Market cap at $10.15B. PEG at 0.59. Revenue grew by 116.84% during the most recent quarter ($311.47M vs. $143.64M y/y). Inventory grew by 11.98% during the same time period ($218.95M vs. $195.52M y/y). Inventory, as a percentage of current assets, decreased from 28.94% to 25.91% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

8. Marathon Petroleum Corporation (MPC): Engages in refining, transporting, and marketing petroleum products primarily in the United States and internationally. Market cap at $15.31B. PEG at 0.65. Revenue grew by 11.34% during the most recent quarter ($19,441M vs. $17,461M y/y). Inventory grew by 8.11% during the same time period ($3,320M vs. $3,071M y/y). Inventory, as a percentage of current assets, decreased from 30.54% to 27.66% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

9. Statoil ASA (STO): Engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products. Market cap at $90.56B. PEG at 0.86. Revenue grew by 27.47% during the most recent quarter ($182,726M vs. $143,349M y/y). Inventory grew by 17.54% during the same time period ($27,770M vs. $23,627M y/y). Inventory, as a percentage of current assets, decreased from 16.01% to 14.02% during the most recent quarter (comparing 3 months ending 2011-12-31 to 3 months ending 2010-12-31).

10. Valero Energy Corp. (VLO): Operates as an independent petroleum refining and marketing company. Market cap at $15.81B. PEG at 0.8. Revenue grew by 60.42% during the most recent quarter ($33,713M vs. $21,015M y/y). Inventory grew by 7.49% during the same time period ($5,164M vs. $4,804M y/y). Inventory, as a percentage of current assets, decreased from 40.45% to 32.54% during the most recent quarter (comparing 3 months ending 2011-09-30 to 3 months ending 2010-09-30).

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 10 Undervalued Large Caps With Positive Inventory Trends