Stock markets are plunging, leaving many FTSE 100 and FTSE 250 stocks with rock-bottom valuations. Whether you’re looking for top growth shares or dependable dividend payers, there are plenty of blue-chips out there offering supreme value.

JD Sports Fashion (LSE:JD.), Grainger (LSE:GRI) and TBC Bank (LSE:TBCG) are three that have caught my eye this month. Each comes with an ultra-low price-to-earnings (P/E) ratio. But that’s not all that makes them great value stocks to consider buying.

Here’s why they could be too cheap for investors to ignore.

Fashion and sports star

Retailers like JD Sports face severe challenges as surging oil prices fuel inflationary pressures. But could this be baked into this FTSE 100 share’s current valuation? I think so. Fresh share price weakness leaves the sportswear giant on a forward P/E ratio of 6.5 times.

The good news for JD is key brands like Nike and Adidas are regaining popularity with consumers, latest financials show. Collectively, these top-tier brands make up the lion’s share of company sales. Even if shopper spending power becomes more constrained, their excellent brand power could support strong sales at the retailer.

Longer term, I’m optimistic JD’s profits could soar from today’s levels as global store expansion rolls on. Recent price weakness represents a new dip opportunity to consider.

Top trust

Grainger is one of the most attractive dividend stocks on offer today, in my view. Like all real estate investment trusts (REITs), it has to pay 90% or more of its rental profits out in cash to investors.

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That’s not all. It’s Britain’s largest listed operator in that most defensive of sectors: residential property. So even if economic conditions worsen and inflation bursts higher, rental income should remain broadly stable.

Higher interest rates will likely hit its share price by raising borrowing costs. This could also weigh on its growth prospects by making new housing developments prohibitively expensive. However, those REIT rules mean Grainger should still be a reliable and generous dividend growth stock.

City analysts agree, meaning a huge dividend yield of 5.1% for this financial year (to September 2025). A forward P/E ratio of 8.9 times provides an extra sweetener for value investors.

The best bank?

TBC Bank is one of the hottest growth stocks out there, in my view. Unlike Lloyds, for instance, which operates in a very mature market, this FTSE 250 bank operates in the fertile Georgian marketplace. This is one that offers the stunning combination of low product penetration and surging demand as the local economy booms.

Like other banking stocks, TBC also stands to gain from more favourable interest rates that’ll boost margins. Rising inflationary pressures are feeding expectations that central banks will stop cutting — or perhaps even hike — their lending rates.

I don’t think these factors are reflected in TBC’s low forward P/E ratio of 5.6 times. Growth could be impacted if the National Bank of Georgia raises rates, hurting the domestic economy. But I think the bank’s challenges are more than baked into that low earnings multiple.

One final thing: the dividend here for 2026 is a gigantic 6.5%.