Investors interested in stocks from the Beverages - Alcohol sector have probably already heard of Molson Coors Brewing (TAP) and Anheuser-Busch Inbev (BUD). But which of these two stocks presents investors with the better value opportunity right now? 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 puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.Right now, both Molson Coors Brewing and Anheuser-Busch Inbev are sporting a Zacks Rank of # 2 (Buy). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that both of these companies have improving earnings outlooks. But this is only part of the picture for value investors.Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.TAP currently has a forward P/E ratio of 11.12, while BUD has a forward P/E of 31.12. We also note that TAP has a PEG ratio of 2.99. 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. BUD currently has a PEG ratio of 10.84.Another notable valuation metric for TAP is its P/B ratio of 1.40. 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, BUD has a P/B of 2.08.These are just a few of the metrics contributing to TAP's Value grade of B and BUD's Value grade of D.Both TAP and BUD are impressive stocks with solid earnings outlooks, but based on these valuation figures, we feel that TAP 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 Molson Coors Beverage Company (TAP): Free Stock Analysis Report AnheuserBusch InBev SANV (BUD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research