Today I am looking at three FTSE 100 (INDEXFTSE: UKX) plays offering irresistible value for money.

Medical marvel

It is no secret that major medicine makers like AstraZeneca (LSE: AZN) are likely to remain pressured by key patent losses some time to come. Indeed, AstraZeneca was forced to downgrade its revenues and profits projections in February thanks to the impact of increased competition on Crestor and others of its products.

But the Cambridge-headquartered firm remains a solid ‘buy’, in my opinion. AstraZeneca’s rejuvenated R&D approach means that the product pipeline is developing “faster than anticipated,” the firm advised last week. And the business remains confident of hitting its total revenues target of £45bn by 2023.

The number crunchers expect AstraZeneca to endure earnings slips of 5% and 2% in 2016 and 2017 correspondingly. But consequent P/E ratios of 14.1 times and 14.4 times represent a great level to latch onto the drugs giant’s compelling long-term growth story, in my opinion.

And I reckon a chunky 5% dividend yield through to the end of 2017 confirms AstraZeneca as a great value pick.

Package up a fortune

I believe that Royal Mail (LSE: RMG) is in the box seat to reap the rewards of the exploding Internet shopping phenomenon.

Britain’s oldest courier has a stranglehold on the domestic parcels and letters market, as its major competitors have either gone to the wall or drastically reeled back their operations. But Royal Mail is not only poised to enjoy sterling revenue growth in the UK — indeed, the firm’s General Logistics Systems (GLS) division is reporting soar-away success in Europe, with volumes there leaping 11% during April-December.

With the bottom line also benefitting from massive cost-cutting, the City expects Royal Mail to print earnings growth of 3% and 4% in the periods to March 2017 and 2018 respectively. The business subsequently deals on ultra-low P/E ratings of 11.5 times and 11 times for these years.

Meanwhile, dividend yields of 4.7% for 2017 and 4.9% for next year should make income chasers sit up and take notice.

A sparky selection

Power play National Grid (LSE: NG) has been one of the Footsie’s standout performers in recent months, and this comes as little surprise.

With waves of patchy data from the US and Asia continuing to batter investor appetite, ‘defensive’ stocks like National Grid have really come to the fore, with the electricity network provider striking record peaks above £10 per share in late April.

Despite this excellent performance, I believe the business still provides excellent bang for one’s buck. Improving cost discipline and an expanding asset base are expected to keep earnings rattling higher, with bottom-line improvements of 3% and 1% pencilled in for the years to March 2017 and 2018 respectively.

These projections create very-attractive P/E ratings of 15.6 times for this year and 15.3 times for 2017. On top of this, National Grid boasts excellent dividend yields of 4.6% and 4.7% for this year and next. I reckon this is exceptional value, particularly given the company’s extremely-low risk profile.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has recommended AstraZeneca. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.