Arsenal are among a handful of clubs to have won at least three Premier League titles. However, the Gunners haven't won the competition since their historic unbeaten season in 2003-04.Last season, Arsenal failed to qualify for Europe for the first time in more than two decades. Their woeful form continued into the new season as they lost their first three league games without scoring a goal. However, the Gunners have since recovered to move to 11th after seven games.The Gunners may have struggled to get results of late, but that does not mean they lack talented players, who have cost the club a small fortune to rope in.On that note, here's a look at the five most valuable Arsenal players at the moment.Note: All player valuations and stats are as per transfermarkt unless mentioned otherwise.#5 Nicolas Pepe - €35 millionNicolas Pepe has had a decent stint at Arsenal.Nicolas Pepe hasn't exactly set the stage on fire since arriving at Arsenal in the summer of 2019. But the Ivory Coast international has been a steady performer for the Gunners.Last season, the 26-year-old showed glimpses of his potential, scoring 16 goals and bagging five assists in all competitions. Despite his exploits, the Gunners endured another trophyless campaign.OptaJoe@OptaJoe50 - Nicolas Pepe has become the first player to successfully dribble past Virgil van Dijk in the Dutch defender's last 50 appearances in the Premier League, since Mikel Merino in March 2018 for Newcastle. Beaten.10:14 AM · Aug 24, 201911689430650 - Nicolas Pepe has become the first player to successfully dribble past Virgil van Dijk in the Dutch defender's last 50 appearances in the Premier League, since Mikel Merino in March 2018 for Newcastle. Beaten. https://t.co/B1oRZMciOBPepe, known for his dribbling prowess, has scored just once in six games across competitions this season. Arsenal will need more from the mercurial winger if they are to become genuine title contenders.#4 Ben White - €40 millionBen White arrived at Arsenal this summer.Ben White arrived at Arsenal for big money this summer. The Gunners splurged a reported €58.5 million for his services after his productive stint at Brighton & Hove Albion.Considering his limited experience in the Premier League, the move raised plenty of eyebrows; White had played only one full season in the competition before. Unsurprisingly, the England international made a slow start to life at Arsenal, but has picked up the pace in recent games.Squawka Football@SquawkaBen White made more clearances (6) than any other Arsenal player in the first half against Brighton.No player made more ball recoveries (4) than the centre-back.10:47 AM · Oct 2, 20211710139Ben White made more clearances (6) than any other Arsenal player in the first half against Brighton.No player made more ball recoveries (4) than the centre-back. https://t.co/ttUEaqIAT1The 24-year-old is one of Mikel Arteta's first-choice centre-backs and he will need to keep improving as the season progresses if Arsenal are to qualify for Europe.