Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.5b

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

Duc Giang Chemicals Group

Market Cap: ₫20.2t

Manufactures industrial products in Vietnam.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Future

Market Cap: JP¥145.0b

Provides IT consulting and services primarily in Japan.

Security Bank

Market Cap: ₱50.9b

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

FRP Advisory Group

Market Cap: UK£280.3m

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

CellaVision

Market Cap: SEK 3.6b

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

LiveRamp Holdings

Market Cap: US$1.7b

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

Bytes Technology Group

Market Cap: UK£671.3m

Offers software, security, AI, and cloud services in the United Kingdom, Europe, and internationally.

Orion Group Holdings

Market Cap: US$458.1m

Operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.9b

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

Trisul

Market Cap: R$1.4b

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

ProCredit Holding

Market Cap: €469.4m

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

Zevra Therapeutics

Market Cap: US$563.0m

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

North East Rubber

Market Cap: ฿9.0b

Manufactures and sells rubber products in Thailand.

United Electronics

Market Cap: ر.س6.0b

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.

Cirrus Aircraft

Market Cap: HK$15.2b

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

Quad/Graphics

Market Cap: US$381.0m

Provides marketing solutions in North America, Mexico, Central America, the Caribbean, Europe, the Middle East, Africa, South America, and Asia.

Ependion

Market Cap: SEK 3.1b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

McBride

Market Cap: UK£272.3m

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.

Martinrea International

Market Cap: CA$680.7m

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.

Voxel

Market Cap: zł1.0b

Provides medical services in Poland.

Norwegian Air Shuttle

Market Cap: NOK 15.6b

Provides air travel services in Norway and internationally.

Village Farms International

Market Cap: US$306.2m

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

Gibraltar Industries

Market Cap: US$1.2b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Equasens Société anonyme

Market Cap: €583.2m

Provides healthcare IT solutions in Europe.

Nagarro

Market Cap: €570.2m

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

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Flotek Industries

Market Cap: US$569.0m

Operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally.

Aviat Networks

Market Cap: US$273.7m

Provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific.

Sichuan Baicha Baidao Industrial

Market Cap: HK$8.2b

An investment holding company, provides tea drink products in the People’s Republic of China.

Hugel

Market Cap: ₩2.7t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

ASROCK Incorporation

Market Cap: NT$26.0b

Designs, develops, and sells motherboards in Asia, Europe, America, and internationally.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹133.5b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Luk Fook Holdings (International)

Market Cap: HK$14.1b

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.

LSL Property Services

Market Cap: UK£223.1m

Provides business-to-business platform for residential market services in the United Kingdom.