See if this works for you:

=IF(AND(J5="",L5=""),0,L5/J5)

"heater" wrote:

I need a zero value when J5 and L5 are empty (blank). I keep getting
#VALUE!. I've tried the following formulas:
=IF(J50,L5/J5,IF(J5<0,0))
=IF(J50,L5/J5,0)
=IF(J5=0,"",L5/J5)
All return #VALUE!