Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.4b

Engages in the manufacture and distribution of bakery and snack products in Thailand.

Betterware de MéxicoP.I. de

Market Cap: US$660.7m

Operates as a direct-to-consumer selling company in the United States and Mexico.

CellaVision

Market Cap: SEK 2.9b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

FRP Advisory Group

Market Cap: UK£269.4m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

Grupa Pracuj

Market Cap: zł3.3b

Operates HR technology platform in Poland, Ukraine, and Germany.

Trisul

Market Cap: R$1.0b

Engages in the construction and development of real estate properties in Brazil.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.3b

Develops and builds residential and non-residential properties primarily in Brazil.

GPS Participações e Empreendimentos

Market Cap: R$8.9b

Together its subsidiaries, provides facilities, security, indoor logistics, utilities engineering, industrial services, food, temporary labor, field marketing, and infrastructure services in Brazil.

Viva Wine Group

Market Cap: SEK 2.7b

Develops, markets, imports, and sells wines.

Zevra Therapeutics

Market Cap: US$679.2m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

Security Bank

Market Cap: ₱47.4b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

Embla Medical hf

Market Cap: DKK 11.5b

Provides non-invasive orthopedic products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Chongqing Baiya Sanitary Products

Market Cap: CN¥7.0b

Chongqing Baiya Sanitary Products Co., Ltd.

Universal Store Holdings

Market Cap: AU$487.2m

Engages in the retail operations in the fashion market in Australia.

Aurelia Metals

Market Cap: AU$541.9m

Engages in the exploration and production of mineral properties in Australia.

ProCredit Holding

Market Cap: €472.4m

Provides commercial banking products and services for small and medium enterprises and private clients in Europe, South America, and Germany.

McBride

Market Cap: UK£292.0m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, the Asia-Pacific, and internationally.

AddLife

Market Cap: SEK 17.5b

Provides instruments and equipment, consumables, and reagents primarily to medical care, research, colleges, and universities, as well as the food and pharmaceutical industries.

Grupo SBF

Market Cap: R$2.4b

Engages in the sale of sporting goods and leisure products in Brazil.

Village Farms International

Market Cap: US$289.2m

Produces, markets, and distributes greenhouse grown tomatoes, bell peppers, and cucumbers in North America.

Parex Resources

Market Cap: CA$2.6b

Engages in the exploration, development, production, and marketing of oil and natural gas in Colombia.

Consun Pharmaceutical Group

Market Cap: HK$12.1b

Produces and sells pharmaceutical products in Mainland China.

United Electronics

Market Cap: ر.س5.7b

Engages in the wholesale and retail trade of electric appliances, electronic gadgets, computers and their spare parts and accessories, furniture, and office equipment and tools in the Kingdom of Saudi Arabia and internationally.

MotoMotion China

Market Cap: CN¥11.6b

Engages in the research, design, development, production, sale, and service of smart electric sofas and beds, chairs, and their accessories in China and internationally.

NEUCA

Market Cap: zł3.3b

Engages in the wholesale distribution of pharmaceuticals in Poland.

Nagarro

Market Cap: €505.4m

Provides digital product engineering and technology solutions in Germany, the United States, Europe, and internationally.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Hugel

Market Cap: ₩2.6t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Ategrity Specialty Insurance Company Holdings

Market Cap: US$937.1m

Through its subsidiaries, provides excess and surplus lines insurance and reinsurance products to small and medium-sized businesses in the United States.

Foresight Group Holdings

Market Cap: UK£496.2m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.

Luk Fook Holdings (International)

Market Cap: HK$12.2b

An investment holding company, engages in sourcing, designing, wholesaling, trademark licensing, and retailing various gold and platinum jewelry, and gem-set jewelry products in Hong Kong and internationally.

Capacit'e Infraprojects

Market Cap: ₹19.0b

Engages in the engineering, procurement, and construction business in India.

Mahindra Logistics

Market Cap: ₹34.8b

Provides integrated logistics and mobility solutions in India and internationally.

Unidata

Market Cap: €88.4m

Provides fiber and networking, cloud and data center, and IoT and smart solutions in Italy.

HD-Hyundai Marine Engine

Market Cap: ₩2.2t

Manufactures and sells marine engines, industrial facilities, and plants in South Korea and internationally.

Nolato

Market Cap: SEK 13.0b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.