Global Undervalued Small Caps

NSL Foods

Market Cap: ฿6.4b

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

Assetwise

Market Cap: ฿6.2b

Engages in property development and other real estate activities in Thailand.

Embla Medical hf

Market Cap: DKK 11.4b

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

Betterware de MéxicoP.I. de

Market Cap: US$686.8m

Operates as a direct-to-consumer selling company in the United States and Mexico.

Viva Wine Group

Market Cap: SEK 2.6b

Develops, markets, imports, and sells wines.

ProCredit Holding

Market Cap: €468.2m

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

Grupa Pracuj

Market Cap: zł3.2b

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

FRP Advisory Group

Market Cap: UK£281.5m

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

CellaVision

Market Cap: SEK 3.0b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Security Bank

Market Cap: ₱47.5b

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

Chongqing Baiya Sanitary Products

Market Cap: CN¥6.6b

Chongqing Baiya Sanitary Products Co., Ltd.

Aurelia Metals

Market Cap: AU$457.2m

Engages in the exploration and production of mineral properties in Australia.

ACES Electronics

Market Cap: NT$11.2b

Researches, develops, manufactures, and sells electronic connectors in Taiwan, China, the Philippines, the United States, and internationally.

Trisul

Market Cap: R$901.4m

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

Lavvi Empreendimentos Imobiliários

Market Cap: R$2.1b

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

Guangdong Mingyang ElectricLtd

Market Cap: CN¥13.5b

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

United Electronics

Market Cap: ر.س5.5b

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.

VSTECS Holdings

Market Cap: HK$13.9b

An investment holding company, develops information technology IT product channel and provides technical solution integration services in North Asia and Southeast Asia.

Consun Pharmaceutical Group

Market Cap: HK$11.7b

Produces and sells pharmaceutical products in Mainland China.

Nagarro

Market Cap: €445.8m

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

NEUCA

Market Cap: zł3.2b

Engages in the wholesale distribution of pharmaceuticals in Poland.

Grupo SBF

Market Cap: R$2.2b

Engages in the sale of sporting goods and leisure products in Brazil.

Legacy Education

Market Cap: US$140.9m

Provides education services to students, high school graduates, and working parents in the United States.

McBride

Market Cap: UK£287.8m

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.

Martinrea International

Market Cap: CA$767.6m

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.

Equasens Société anonyme

Market Cap: €591.5m

Provides healthcare IT solutions in Europe.

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Village Farms International

Market Cap: US$238.9m

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

Parex Resources

Market Cap: CA$2.4b

Engages in the exploration, development, production, and marketing of oil and natural gas in Colombia.

MotoMotion China

Market Cap: CN¥11.2b

Engages in the research, design, development, production, sale, and service of smart electric sofas and beds, chairs, and their accessories in China and internationally.

Luk Fook Holdings (International)

Market Cap: HK$12.0b

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.

Capacit'e Infraprojects

Market Cap: ₹18.3b

Engages in the engineering, procurement, and construction business in India.

Mahindra Logistics

Market Cap: ₹33.6b

Provides integrated logistics and mobility solutions in India and internationally.

Murapol

Market Cap: zł1.7b

Engages in residential real estate development buisness in Poland.

TomTom

Market Cap: €649.9m

Develops and sells navigation and location-based products and services in Europe, the Americas, Asia, and internationally.

Foresight Group Holdings

Market Cap: UK£488.9m

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