Global Undervalued Small Caps

Construtora Tenda

Market Cap: R$3.1b

Operates as a construction company in Brazil.

Iochpe-Maxion

Market Cap: R$1.5b

Produces and sells automotive wheels and structural components for commercial and light vehicles in North America, South America, Europe, Asia, and internationally.

Zevra Therapeutics

Market Cap: US$469.5m

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

Firan Technology Group

Market Cap: CA$290.5m

Manufactures and sells aerospace and defense electronic products and subsystems in Canada, the United States, and China.

Future

Market Cap: JP¥177.0b

Provides IT consulting and services primarily in Japan.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Security Bank

Market Cap: ₱51.9b

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

Hu Lane Associate

Market Cap: NT$15.0b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Assetwise

Market Cap: ฿5.4b

Engages in property development and other real estate activities in Thailand.

Inspur Digital Enterprise Technology

Market Cap: HK$7.6b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.9b

Engages in the research, development, production, and sale of high/low voltage switchgear, transformer, and power transmission and distribution equipment in China.

Aurelia Metals

Market Cap: AU$457.0m

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

Cheerwin Group

Market Cap: HK$3.1b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Kaufman & Broad

Market Cap: €588.4m

Operates as a property developer and builder in France.

Grupa Pracuj

Market Cap: zł3.4b

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

Altea Green Power

Market Cap: €129.1m

Supplies and manages renewable energy plants in Italy and the United States.

Grupo SBF

Market Cap: R$2.7b

Grupo SBF S.A. retails and wholesales sports and leisure products in Brazil.

Byrna Technologies

Market Cap: US$394.3m

A less-lethal self-defense technology company, develops, manufactures, and sells less-lethal personal security solutions in the United States, South Africa, Europe, South America, Asia, and Canada.

J.Jill

Market Cap: US$209.3m

Operates as an omnichannel retailer for women’s apparel in the United States.

Aviat Networks

Market Cap: US$285.0m

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

British American Tobacco Bangladesh

Market Cap: ৳135.2b

Manufactures and sells cigarettes in Bangladesh.

Leejam Sports

Market Cap: ر.س5.2b

Operates sports and fitness centers in the Kingdom of Saudi Arabia and the United Arab Emirates.

Visco Vision

Market Cap: NT$11.2b

Manufactures and sells silicone hydrogel contact lenses in Asia, Europe, and the Americas.

Italian Exhibition Group

Market Cap: €263.9m

Italian Exhibition Group S.p.A. organizes and operates exhibitions Italy and internationally.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Afentra

Market Cap: UK£93.2m

Operates as an upstream oil and gas company primarily in Africa.

AdaptHealth

Market Cap: US$1.3b

Distributes home medical equipment (HME), medical supplies, and home and related services in the United States.

Dentium

Market Cap: ₩411.4b

Manufactures and sells dental medical instrument worldwide.

Hugel

Market Cap: ₩2.4t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Xiaocaiyuan International Holding

Market Cap: HK$10.5b

An investment holding company, engages in the restaurant business in the People’s Republic of China.

ASROCK Incorporation

Market Cap: NT$30.0b

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

Rank Group

Market Cap: UK£464.6m

Engages in provision of gaming services in the United Kingdom, Europe, and internationally.

Auto Partner

Market Cap: zł2.3b

Imports and distributes parts for passenger cars, delivery vans, and motorcycles in Poland.

Eternal Beauty Holdings

Market Cap: HK$2.8b

An investment holding company, engages in the retail, wholesale, and distribution of perfumes, skincare products, color cosmetics, personal care products, eyewear, and home fragrances in China, including Hong Kong and Macau.

Tracsis

Market Cap: UK£90.8m

Engages in the provision of software, hardware, data analytics and geographic information systems, and services in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.

Unidata

Market Cap: €94.2m

Operates as an Internet service provider in Italy.