Global Undervalued Small Caps

EXEL Industries

Market Cap: €260.4m

Engages in the manufacture and sale of agricultural spraying equipment in France and internationally.

CF Bankshares

Market Cap: US$184.7m

Operates as the bank holding company for CFBank, National Association that provides various banking products and services.

Orezone Gold

Market Cap: CA$1.4b

Engages in the mining, exploration, and development of gold properties.

Heritage Financial

Market Cap: US$902.7m

Operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States.

Angler Gaming

Market Cap: €225.0m

Invests in companies that offer gaming services through the internet in Malta.

Vermilion Energy

Market Cap: CA$1.9b

An oil and gas producer, focuses on the acquisition, exploration, development, and optimization of producing properties in North America, Europe, and Australia.

Meridian

Market Cap: US$210.9m

Operates as the bank holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Maryland, and Florida.

CareRx

Market Cap: CA$248.0m

Provides pharmacy services to senior homes and other congregate care settings in Canada.

Lindsay Australia

Market Cap: AU$244.3m

Provides integrated transport, logistics, and rural supply services to the food processing, food services, fresh produce, and horticulture sectors in Australia.

R Systems International

Market Cap: ₹42.3b

A digital product engineering company, designs and builds chip-to-cloud software products and platforms.

Blue Jet Healthcare

Market Cap: ₹75.0b

Engages in the manufacturing and sale of pharmaceutical intermediates and active pharmaceutical ingredients (APIs) for use in pharmaceutical and healthcare products.

Servcorp

Market Cap: AU$813.2m

Provides executive serviced and virtual offices, coworking and IT, communications, and secretarial services in Australia, New Zealand, Southeast Asia, the United States, Europe, the Middle East, North Asia, and internationally.

Senores Pharmaceuticals

Market Cap: ₹36.9b

Develops, manufactures, sells, and trades in pharmaceutical and allied products in India, the United States, the United Kingdom, Canada, and internationally.

Salmones Camanchaca

Market Cap: CL$384.0b

Engages in the salmon farming business in Chile.

Musashi Seimitsu Industry

Market Cap: JP¥180.9b

Manufactures and sells automotive parts in Japan, the United States, Asia, China, and Europe.

Arriyadh Development

Market Cap: ر.س5.1b

Engages in the purchase and sale of lands and real estate in Saudi Arabia.

Anhui Ronds Science & Technology

Market Cap: CN¥5.5b

Provides solutions for machinery condition monitoring in the predictive maintenance field in China.

Klinique Medical Clinic

Market Cap: ฿5.1b

Provides skin medical treatment services under the Klinique brand name in Thailand.

Shanghai MicroPort Endovascular MedTech

Market Cap: CN¥11.6b

Shanghai MicroPort Endovascular MedTech Co., Ltd.

SMS

Market Cap: JP¥137.6b

Provides information infrastructure for the nursing care, medical care, career, healthcare, and elderly care field business areas in Japan and internationally.

West Holdings

Market Cap: JP¥63.8b

Engages in the renewable energy business in Japan and internationally.

Zhejiang Asia-Pacific Mechanical & ElectronicLtd

Market Cap: CN¥12.5b

Engages in the development, production, and sale of automotive parts and components in China and internationally.

China State Construction Development Holdings

Market Cap: HK$2.6b

An investment holding company, engages in the general contracting business in Hong Kong and internationally.

Sinocare

Market Cap: CN¥10.5b

Engages in the development, manufacture, and marketing of rapid diagnosis testing products primarily in the People’s Republic of China.

EFG Holding CompanyE

Market Cap: ج.م39.9b

A financial services company, provides investment banking products and services in Egypt, rest of GCC countries, and internationally.

Zinzino

Market Cap: SEK 5.3b

A direct sales company, provides dietary supplements and skincare products in Sweden and internationally.

Abu Dhabi Islamic Bank - Egypt -E

Market Cap: ج.م45.6b

Provides various banking products and services to individuals and corporates in Egypt and internationally.

SeSa

Market Cap: €1.4b

Distributes value-added information technology (IT) software and technologies in Italy and internationally.

Addiko Bank

Market Cap: €470.6m

Provides various banking products and services in Croatia, Slovenia, Serbia, Bosnia and Herzegovina, Montenegro, Austria, and Germany.

Attendo

Market Cap: SEK 13.0b

Provides health and care services in Scandinavia and Finland.

Stanbic IBTC Holdings

Market Cap: ₦1.7t

A financial holding company, provides banking and other financial services to individuals, businesses, institutions, and corporations in Nigeria and internationally.

Jenoptik

Market Cap: €1.3b

Provides advanced photonic solutions and smart mobility solutions in Germany and internationally.

Develia

Market Cap: zł4.4b

Through its subsidiaries, engages in real estate business in Poland.

Gofore Oyj

Market Cap: €218.2m

Provides digital transformation consultancy services for private and public sectors in Finland and internationally.

Murapol

Market Cap: zł1.8b

Engages in residential real estate development buisness in Poland.

Dat Xanh Group

Market Cap: ₫14.9t

Engages in the real estate business in Vietnam.