Global Undervalued Small Caps

Austriacard Holdings

Market Cap: €205.4m

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.

Austevoll Seafood

Market Cap: NOK 19.7b

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.

ADENTRA

Market Cap: CA$813.3m

Engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States.

Business First Bancshares

Market Cap: US$714.0m

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

Firan Technology Group

Market Cap: CA$303.8m

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

ProCredit Holding

Market Cap: €558.4m

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

Jinzai Food GroupLtd

Market Cap: CN¥5.8b

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

Security Bank

Market Cap: ₱53.9b

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

Hu Lane Associate

Market Cap: NT$16.3b

Engages in manufacture and sale of terminal devices, terminal crimping, industrial rubber, and plastic products in Taiwan.

Hyosung TNC

Market Cap: ₩986.1b

Manufactures and sells fiber in South Korea and internationally.

Foxsemicon Integrated Technology

Market Cap: NT$32.2b

Engages in the research, development, design, manufacturing, and sale of semiconductor equipment subsystems and system integration in Taiwan, the United States, China, and internationally.

KH Neochem

Market Cap: JP¥96.1b

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

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.

CLIO CosmeticsLtd

Market Cap: ₩259.2b

Provides makeup products in South Korea and internationally.

RVRC Holding

Market Cap: SEK 4.9b

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

Warpaint London

Market Cap: UK£250.4m

Produces and sells cosmetics.

Nagarro

Market Cap: €671.1m

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

Byrna Technologies

Market Cap: US$475.6m

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.

AEON Credit Service (M) Berhad

Market Cap: RM 2.6b

Provides consumer financial services in Malaysia.

TQM Alpha

Market Cap: ฿8.7b

Engages in the insurance brokerage business in Thailand.

AdaptHealth

Market Cap: US$1.3b

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

Journey Energy

Market Cap: CA$170.5m

Engages in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada.

Truecaller

Market Cap: SEK 15.7b

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

Yamaichi ElectronicsLtd

Market Cap: JP¥58.1b

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

Hansae

Market Cap: ₩403.3b

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

Lindsay Australia

Market Cap: AU$276.5m

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$526.7m

Provides pathology diagnostic services in Australia.

Materials Analysis Technology

Market Cap: NT$12.5b

Engages in the research and development, and intellectual property services in Taiwan, Mainland China, Japan, the United States, 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.

M1 Kliniken

Market Cap: €256.4m

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

CPH Group

Market Cap: CHF 431.6m

Develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America.

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.

Cosmo Pharmaceuticals

Market Cap: CHF 897.4m

Focuses on the development and commercialization products for gastroenterology, dermatology, and healthtech worldwide.

Allied Supreme

Market Cap: NT$22.7b

Manufactures and sells fluoropolymer resin in China, America, and Taiwan.

Gambling.com Group

Market Cap: US$378.1m

Operates as a performance marketing company for the online gambling industry in North America, the United Kingdom, Ireland, rest of Europe, and internationally.

Opera

Market Cap: US$1.5b

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