A Value Stock That's Cheaper Than Cheap

Updated from 7:08 a.m. EDT

Last week, Jim Cramer recommended shares of KBR (KBR) as a long-term value play.

It's a $15 stock, with $9 cash per share on its balance sheet and zero debt. Furthermore, the company is expected to earn $1.70 this year. Trading at less than 3 times current earnings, KBR is dirt cheap.

KBR currently has a market cap of $2.45 billion, with a backlog of $13.4 billion. 89% of KBR's revenue is internationally based, with 11% domestically based. KBR's backlog is broken up into six pieces: downstream, government and infrastructure, services, technology, upstream and ventures

To find out why Cramer likes the stock, visit Stockpickr.com.