There are two new journal ranking tools freely available on the internet.

SCImago Journal & Country Rank -- Data from Scopus (13,200 journals)

Eigenfactor -- Data from Thomson (8,000 journals)

The SJR indicator (from SCImago Journal & Country Rank) and the Eigenfactor take the ISI Impact Factor one step further. They incorporated a PageRank algorithm from Google to weight the citing journals. The ISI Impact Factor counts the number of cites to papers in a journal but does not distinguish if the citing paper is published in a prestigious journal or a not so highly ranked journal. The SJR indicator and the Eigenfactor take into account the ranking of the citing journal.

Further reading: Free journal-ranking tool enters citation market

Impact factors and Scimago JR compared



Eigenfactor: Measuring the value and prestige of scholarly journals