Global Undervalued Small Caps

Firan Technology Group

Market Cap: CA$298.8m

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

Austevoll Seafood

Market Cap: NOK 20.0b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

USCB Financial Holdings

Market Cap: US$325.1m

Operates as the bank holding company for U.S.

Hanmi Financial

Market Cap: US$680.9m

Operates as the holding company for Hanmi Bank that provides business banking products and services in the United States.

ACM Research

Market Cap: US$1.5b

Develops, manufactures, and sells capital equipment worldwide.

Business First Bancshares

Market Cap: US$684.7m

Operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas.

Austriacard Holdings

Market Cap: €206.8m

Operates as a technology company in the fields of people, authentication of object, and information management in Western Europe, Nordics, the Americas, Central and Eastern Europe, Germany, Austria, Switzerland, Türkiye, the Middle East, and Africa.

ProCredit Holding

Market Cap: €551.3m

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

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.4b

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

KH Neochem

Market Cap: JP¥98.2b

Researches, manufactures, and sells of petrochemical products in Japan and internationally.

Jinzai Food GroupLtd

Market Cap: CN¥5.7b

Engages in the research, development, production, and sale of snack foods in China.

Security Bank

Market Cap: ₱57.3b

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

CLIO CosmeticsLtd

Market Cap: ₩272.0b

Provides makeup products in South Korea and internationally.

RVRC Holding

Market Cap: SEK 4.8b

Engages in the e-commerce outdoor clothing business in Germany, Sweden, Finland, and internationally.

Alerus Financial

Market Cap: US$526.7m

Operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.

Nagarro

Market Cap: €704.6m

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

CorMedix

Market Cap: US$771.1m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

Byrna Technologies

Market Cap: US$480.2m

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.

Visco Vision

Market Cap: NT$12.4b

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

TQM Alpha

Market Cap: ฿9.0b

Engages in the insurance brokerage business in Thailand.

AEON Credit Service (M) Berhad

Market Cap: RM 2.6b

Provides consumer financial services in Malaysia.

Truecaller

Market Cap: SEK 16.1b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

Italian Sea Group

Market Cap: €252.3m

Operates in the yachting industry.

Ibotta

Market Cap: US$933.1m

A technology company, provides digital promotion services to clients in the United States.

Yamaichi ElectronicsLtd

Market Cap: JP¥55.2b

Manufactures and sells test, connector, and optical-related products in Japan and internationally.

AdaptHealth

Market Cap: US$1.2b

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

Lindsay Australia

Market Cap: AU$278.3m

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

Australian Clinical Labs

Market Cap: AU$546.1m

Provides pathology diagnostic services in Australia.

Thaifoods Group

Market Cap: ฿30.6b

Engages in the production and distribution of chicken and swine products in Thailand.

Hansae

Market Cap: ₩411.9b

Manufactures and sells finished clothing products in Vietnam, Indonesia, Nicaragua, Guatemala, Myanmar, and Haiti.

HCI Group

Market Cap: US$1.8b

Engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in the United States.

Prosegur Cash

Market Cap: €1.1b

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

M1 Kliniken

Market Cap: €254.9m

Provides aesthetic medicine and plastic surgery services in Germany, Austria, the Netherlands, Switzerland, the United Kingdom, Croatia, Hungary, Bulgaria, Romania, and Australia.

L&K Engineering (Suzhou)Ltd

Market Cap: CN¥7.9b

Provides specialized engineering technical services in China.

Opera

Market Cap: US$1.4b

Provides mobile and PC web browsers and related products and services in Norway and internationally.

Qt Group Oyj

Market Cap: €1.2b

Offers cross-platform solutions for the software development lifecycle in Finland, rest of Europe, the Asia Pacific, and North America.