Global Undervalued Small Caps

Hyundai Elevator

Market Cap: ₩2.8t

Designs, manufactures, installs, maintains, and modernizes elevators in South Korea and internationally.

Ependion

Market Cap: SEK 3.1b

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

Combined Motor Holdings

Market Cap: R2.5b

An investment holding company, engages in the motor retail and distribution business in South Africa.

REV Group

Market Cap: US$1.8b

Designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in North America and internationally.

Mistras Group

Market Cap: US$244.0m

Provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific.

Sparebanken Møre

Market Cap: NOK 5.1b

Provides banking services for retail and corporate customers in Norway.

Sun Country Airlines Holdings

Market Cap: US$633.1m

An air carrier company, operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally.

Schoeller-Bleckmann Oilfield Equipment

Market Cap: €504.3m

Manufactures and sells steel products worldwide.

Powersoft

Market Cap: €196.9m

Engages in the design, production, and marketing of power amplifiers, loudspeaker components, and software for installed and live sound applications in Italy and internationally.

Voxel

Market Cap: zł1.7b

Operates a network of diagnostic imaging laboratories in Poland.

Europris

Market Cap: NOK 13.3b

Operates as a discount variety retailer in Norway.

MetroCity Bankshares

Market Cap: US$727.9m

Operates as the bank holding company for Metro City Bank that provides banking products and services in the United States.

Kid

Market Cap: NOK 6.4b

Operates as a home textile retailer in Norway, Sweden, Finland, and Estonia.

Huber+Suhner

Market Cap: CHF 1.4b

Engages in the provision of electrical and optical connectivity components and system solutions.

PharmaSGP Holding

Market Cap: €308.5m

Manufactures and sells over-the-counter drugs and other healthcare products in Germany.

Nyab

Market Cap: SEK 4.1b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.

Aris Mining

Market Cap: CA$1.4b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Sonata Software

Market Cap: ₹101.5b

Provides information technology services and solutions in the United States, Europe, the Middle East, Asia, India, and Australia.

Soosan Industries

Market Cap: ₩276.1b

Provides power plant construction and maintenance services in South Korea.

Nishi-Nippon Financial Holdings

Market Cap: JP¥288.0b

Through its subsidiaries, manages and operates banks and other companies that provide financial and non-financial solutions in Japan, Hong Kong, China, and Singapore.

MeHow Innovative

Market Cap: CN¥10.2b

Mehow Innovative Ltd. engages in the design, development, manufacturing, and sale of precision medical device components and products in China and internationally.

Nisshinbo Holdings

Market Cap: JP¥136.0b

Operates wireless communication, microdevice, automobile brakes, precision instruments, chemicals, textiles, and real estate businesses in China and internationally.

M&A Capital PartnersLtd

Market Cap: JP¥88.2b

Engages in the mergers and acquisitions (M&A) brokerage business in Japan.

V.S. Industry Berhad

Market Cap: RM 3.1b

An investment holding company, engages in the manufacturing, assembling and selling electronic and electrical products, and plastic molded components and parts.

West Holdings

Market Cap: JP¥61.1b

Engages in the renewable energy business in Japan and internationally.

Essex Bio-Technology

Market Cap: HK$2.5b

An investment holding company, develops, manufactures, and sells biologic drugs in the People’s Republic of China, Hong Kong, and internationally.

DTS

Market Cap: JP¥188.6b

Provides systems integration services in Japan.

Indah Kiat Pulp & Paper

Market Cap: Rp30.9t

Engages in the manufacture of cultural paper, pulp, tissue, and industrial paper in Indonesia, Asia, the United States, Australia, the Middle East, Africa, and Europe.

Ningbo Haitian Precision MachineryLtd

Market Cap: CN¥10.2b

Ningbo Haitian Precision Machinery Co.,Ltd.

eClerx Services

Market Cap: ₹115.2b

Provides business process management, change management, data-driven insights, and advanced analytics services in India, the United States, the United Kingdom, Europe, and the Asia Pacific.

Updater Services

Market Cap: ₹19.0b

Operates an integrated business services platform in India.

Ichitan Group

Market Cap: ฿15.0b

Together with its subsidiary, Ichitan Power Co., Ltd., engages in the manufacture and sale of beverages in Thailand and internationally.

SDI

Market Cap: NT$13.0b

Manufactures and sells semiconductor lead frames, LED lead frames, stationery and office products, and high precision dies in Taiwan, China, Japan, Malaysia, and internationally.

TOWA

Market Cap: JP¥104.5b

Designs, develops, manufactures, and sells semiconductor manufacturing equipment and high-precision molds in Japan and internationally.

Tsuburaya Fields Holdings

Market Cap: JP¥115.7b

Engages in the content-related businesses in Japan.

Khang Dien House Trading and Investment

Market Cap: ₫28.8t

Engages in real estate business in Vietnam.