Global Undervalued Small Caps

Indegene

Market Cap: ₹108.5b

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

Embla Medical hf

Market Cap: DKK 11.1b

Provides non-invasive orthopedic products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

ProCredit Holding

Market Cap: €424.1m

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

Zevra Therapeutics

Market Cap: US$537.8m

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

Orion Group Holdings

Market Cap: US$436.1m

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

Grupa Pracuj

Market Cap: zł2.5b

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

Trisul

Market Cap: R$1.3b

Engages in the construction and development of real estate properties in Brazil.

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.7b

Develops and builds residential and non-residential properties primarily in Brazil.

Bytes Technology Group

Market Cap: UK£618.8m

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

Duc Giang Chemicals Group

Market Cap: ₫19.7t

Manufactures industrial products in Vietnam.

FRP Advisory Group

Market Cap: UK£259.7m

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

Tristel

Market Cap: UK£177.3m

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

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.

NSL Foods

Market Cap: ฿6.6b

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

Inspur Digital Enterprise Technology

Market Cap: HK$3.6b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

LiveRamp Holdings

Market Cap: US$1.6b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Aux Electric

Market Cap: HK$14.6b

Engages in the manufacturing, sales, and marketing of air conditioners.

Future

Market Cap: JP¥142.4b

Provides IT consulting and services primarily in Japan.

Universal Store Holdings

Market Cap: AU$619.1m

Engages in the retail operations in the fashion market in Australia.

SILICON2

Market Cap: ₩2.4t

Engages in the distribution of cosmetics products worldwide.

Security Bank

Market Cap: ₱50.1b

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

AEON Credit Service (M) Berhad

Market Cap: RM 2.7b

Provides consumer financial services in Malaysia.

North East Rubber

Market Cap: ฿9.0b

Manufactures and sells rubber products in Thailand.

Spinneys 1961 Holding

Market Cap: د.إ4.5b

Through its subsidiaries, engages in the operation of supermarkets under the Spinneys, Waitrose, and Al Fair brands in the United Arab Emirates, the Sultanate of Oman, the Kingdom of Saudi Arabia, and internationally.

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.

Voxel

Market Cap: zł1.2b

Provides medical services in Poland.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Hacksaw

Market Cap: SEK 16.3b

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

Ependion

Market Cap: SEK 3.0b

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

Mensch und Maschine Software

Market Cap: €549.1m

Provides technical software and digitization solutions in computer aided design, manufacturing and engineering, product data and lifecycle management, and building information modeling and management areas.

Grupo SBF

Market Cap: R$2.5b

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

Lifedrink Company

Market Cap: JP¥56.9b

Manufactures and sells soft drinks in Japan.

J.Jill

Market Cap: US$223.1m

Operates as an omnichannel retailer for women’s apparel in the United States.

Cirrus Aircraft

Market Cap: HK$13.7b

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

Nagarro

Market Cap: €562.1m

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

Village Farms International

Market Cap: US$308.5m

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