Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.4b

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

Infinity Natural Resources

Market Cap: US$876.1m

Engages in the acquisition, exploration, and development of properties to produce crude oil, natural gas, and natural gas liquids in the United States.

Future

Market Cap: JP¥141.3b

Provides IT consulting and services primarily in Japan.

Ventura Offshore Holding

Market Cap: NOK 3.5b

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

Tristel

Market Cap: UK£178.5m

Develops, manufactures, and sells infection prevention products in the United Kingdom, Australia, Germany, Western Europe, and internationally.

Chongqing Baiya Sanitary Products

Market Cap: CN¥7.3b

Chongqing Baiya Sanitary Products Co., Ltd.

Security Bank

Market Cap: ₱46.7b

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

Aurelia Metals

Market Cap: AU$508.0m

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

Grupa Pracuj

Market Cap: zł3.1b

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

SILICON2

Market Cap: ₩2.4t

Engages in the distribution of cosmetics products worldwide.

Zevra Therapeutics

Market Cap: US$673.9m

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

FRP Advisory Group

Market Cap: UK£268.2m

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

CellaVision

Market Cap: SEK 2.9b

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

Calfrac Well Services

Market Cap: CA$620.6m

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

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.

ProCredit Holding

Market Cap: €479.4m

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

Viva Wine Group

Market Cap: SEK 2.8b

Develops, markets, imports, and sells wines.

Grupo SBF

Market Cap: R$2.4b

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

United Electronics

Market Cap: ر.س5.9b

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¥11.9b

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

Consun Pharmaceutical Group

Market Cap: HK$11.9b

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

VSTECS Holdings

Market Cap: HK$13.8b

An investment holding company, develops information technology IT product channel and provides technical solution integration services in North Asia and Southeast Asia.

AddLife

Market Cap: SEK 18.1b

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

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

McBride

Market Cap: UK£285.0m

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.

Nagarro

Market Cap: €495.3m

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

Parex Resources

Market Cap: CA$2.3b

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

Village Farms International

Market Cap: US$294.9m

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

Capacit'e Infraprojects

Market Cap: ₹19.2b

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

Hugel

Market Cap: ₩2.7t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Mahindra Logistics

Market Cap: ₹33.9b

Provides integrated logistics and mobility solutions in India and internationally.

Luk Fook Holdings (International)

Market Cap: HK$12.3b

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£479.9m

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

Murapol

Market Cap: zł1.7b

Engages in residential real estate development buisness in Poland.

Ategrity Specialty Insurance Company Holdings

Market Cap: US$954.9m

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