Global Undervalued Small Caps

Security Bank

Market Cap: ₱48.5b

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

Chongqing Baiya Sanitary Products

Market Cap: CN¥7.5b

Chongqing Baiya Sanitary Products Co., Ltd.

NSL Foods

Market Cap: ฿6.4b

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

SaizeriyaLtd

Market Cap: JP¥247.6b

Operates restaurants in Japan, Australia, Indonesia and Asia.

Industri Jamu dan Farmasi Sido Muncul

Market Cap: Rp13.7t

Provides herbal medicines, cosmetics, and foods and beverage products in Indonesia.

Aurelia Metals

Market Cap: AU$575.8m

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

Universal Store Holdings

Market Cap: AU$501.8m

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

Bank BTPN Syariah

Market Cap: Rp7.7t

Operates as a sharia commercial bank providing a comprehensive range of banking products and services in Indonesia.

Viva Wine Group

Market Cap: SEK 2.8b

Develops, markets, imports, and sells wines.

Grupa Pracuj

Market Cap: zł3.0b

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

CellaVision

Market Cap: SEK 2.8b

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

LiveRamp Holdings

Market Cap: US$1.9b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

FRP Advisory Group

Market Cap: UK£279.0m

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

ProCredit Holding

Market Cap: €466.5m

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

Calfrac Well Services

Market Cap: CA$550.3m

Provides specialized oilfield services in Canada, the United States, and Argentina.

Zevra Therapeutics

Market Cap: US$638.4m

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

Ventura Offshore Holding

Market Cap: NOK 3.3b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Iochpe-Maxion

Market Cap: R$1.4b

Produces and sells automotive wheels and structural components in Brazil, North America, South America, Europe, the Middle East, Africa, Asia, and internationally.

Trisul

Market Cap: R$1.1b

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.

Construtora Tenda

Market Cap: R$3.6b

Operates as a construction company for homes in Brazil.

Consun Pharmaceutical Group

Market Cap: HK$12.7b

Researches and develops, manufactures, and sells Chinese medicines and medical contrast medium products in the People’s Republic of China.

Cirrus Aircraft

Market Cap: HK$13.2b

Manufactures and sells piston aircraft and single-engine turbine jets worldwide.

Binastra Corporation Berhad

Market Cap: RM 2.1b

An investment holding company, engages in general contractor and property developer, building and civil engineering works in turnkey projects in Malaysia.

Martinrea International

Market Cap: CA$763.5m

Engages in the design, development, manufacture, and sale of engineered, value-added lightweight structures, and propulsion systems for the automotive sector in North America, Europe, and internationally.

Parex Resources

Market Cap: CA$2.7b

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

AddLife

Market Cap: SEK 17.9b

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

Equasens Société anonyme

Market Cap: €551.6m

Provides healthcare IT solutions in Europe.

McBride

Market Cap: UK£278.0m

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.

Village Farms International

Market Cap: US$301.7m

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

Voxel

Market Cap: zł1.0b

Provides medical services in Poland.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Morimatsu International Holdings

Market Cap: HK$9.0b

Designs, manufactures, installs, operates, and maintains core equipment, process systems, and solutions primarily for chemical reactions, biological reactions, and polymerization.

Luk Fook Holdings (International)

Market Cap: HK$13.3b

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.

Foresight Group Holdings

Market Cap: UK£461.2m

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

Unidata

Market Cap: €86.4m

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