Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.5b

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

Security Bank

Market Cap: ₱49.6b

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

Orion Group Holdings

Market Cap: US$453.3m

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

Indegene

Market Cap: ₹113.4b

Operates as a digital-first life sciences commercialization company in India, the United States, Europe, and internationally.

Future

Market Cap: JP¥143.7b

Provides IT consulting and services primarily in Japan.

SILICON2

Market Cap: ₩2.4t

Engages in the distribution of cosmetics products worldwide.

ProCredit Holding

Market Cap: €441.7m

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

Bytes Technology Group

Market Cap: UK£688.3m

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

FRP Advisory Group

Market Cap: UK£275.4m

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.

Grupa Pracuj

Market Cap: zł2.8b

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

Zevra Therapeutics

Market Cap: US$551.9m

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

FirstSun Capital Bancorp

Market Cap: US$1.0b

Operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in the United States.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.8b

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.

Cirrus Aircraft

Market Cap: HK$14.0b

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

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.

North East Rubber

Market Cap: ฿9.0b

Manufactures and sells rubber products in Thailand.

Martinrea International

Market Cap: CA$664.4m

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.

Energy Recovery

Market Cap: US$538.9m

Designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe.

Village Farms International

Market Cap: US$315.4m

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

Ependion

Market Cap: SEK 3.1b

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

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Nagarro

Market Cap: €584.4m

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

Hacksaw

Market Cap: SEK 17.8b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

Gibraltar Industries

Market Cap: US$1.1b

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

Consun Pharmaceutical Group

Market Cap: HK$14.4b

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

Equasens Société anonyme

Market Cap: €571.2m

Provides healthcare IT solutions in Europe.

Flotek Industries

Market Cap: US$578.7m

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

Aviat Networks

Market Cap: US$260.7m

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

Grupo SBF

Market Cap: R$2.7b

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

Hugel

Market Cap: ₩2.6t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

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.

Luk Fook Holdings (International)

Market Cap: HK$13.8b

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.

Murapol

Market Cap: zł1.6b

Engages in residential real estate development buisness in Poland.