Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.5b

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

Duc Giang Chemicals Group

Market Cap: ₫20.2t

Manufactures industrial products in Vietnam.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Future

Market Cap: JP¥145.0b

Provides IT consulting and services primarily in Japan.

Bytes Technology Group

Market Cap: UK£694.0m

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

Security Bank

Market Cap: ₱50.9b

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

Orion Group Holdings

Market Cap: US$458.1m

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

ProCredit Holding

Market Cap: €468.8m

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$563.0m

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

FRP Advisory Group

Market Cap: UK£280.3m

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.

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.

North East Rubber

Market Cap: ฿9.0b

Manufactures and sells rubber products in Thailand.

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.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Cirrus Aircraft

Market Cap: HK$15.2b

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

Voxel

Market Cap: zł1.1b

Provides medical services in Poland.

Quad/Graphics

Market Cap: US$381.0m

Provides marketing solutions in North America, Mexico, Central America, the Caribbean, Europe, the Middle East, Africa, South America, and Asia.

Ependion

Market Cap: SEK 3.1b

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

McBride

Market Cap: UK£272.3m

Manufactures and sells private label household and personal care products to retailers and brand owners in the United Kingdom, Germany, France, Italy, Spain, rest of Europe, the Asia-Pacific, and internationally.

Gibraltar Industries

Market Cap: US$1.2b

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

Aviat Networks

Market Cap: US$273.7m

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

Martinrea International

Market Cap: CA$680.7m

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.

Hacksaw

Market Cap: SEK 18.0b

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

Equasens Société anonyme

Market Cap: €583.2m

Provides healthcare IT solutions in Europe.

Flotek Industries

Market Cap: US$569.0m

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

Nagarro

Market Cap: €570.2m

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

Village Farms International

Market Cap: US$306.2m

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

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.

Sichuan Baicha Baidao Industrial

Market Cap: HK$8.2b

An investment holding company, provides tea drink products in the People’s Republic of China.

Aegean Airlines

Market Cap: €1.1b

Operates as an airline company that engages in the provision of public airline transportation services in Greece and internationally.

Hugel

Market Cap: ₩2.7t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹133.5b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Foresight Group Holdings

Market Cap: UK£423.2m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.