Global Undervalued Small Caps

Future

Market Cap: JP¥143.5b

Provides IT consulting and services primarily in Japan.

SILICON2

Market Cap: ₩2.6t

Engages in the distribution of cosmetics products worldwide.

Security Bank

Market Cap: ₱51.3b

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

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: ₫20.5t

Manufactures industrial products in Vietnam.

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.

ProCredit Holding

Market Cap: €480.6m

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

FRP Advisory Group

Market Cap: UK£288.7m

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

Grupa Pracuj

Market Cap: zł2.8b

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

Orion Group Holdings

Market Cap: US$466.8m

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

Lavvi Empreendimentos Imobiliários

Market Cap: R$3.0b

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.

Zevra Therapeutics

Market Cap: US$570.1m

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

Cirrus Aircraft

Market Cap: HK$15.1b

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

North East Rubber

Market Cap: ฿9.0b

Manufactures and sells rubber products in Thailand.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Aviat Networks

Market Cap: US$274.2m

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

United Electronics

Market Cap: ر.س6.1b

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.

Quad/Graphics

Market Cap: US$378.4m

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£280.7m

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.

Equasens Société anonyme

Market Cap: €593.7m

Provides healthcare IT solutions in Europe.

Nagarro

Market Cap: €568.7m

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

Martinrea International

Market Cap: CA$677.8m

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.

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.

Village Farms International

Market Cap: US$311.9m

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

Norwegian Air Shuttle

Market Cap: NOK 15.8b

Provides air travel services in Norway and internationally.

Voxel

Market Cap: zł1.0b

Provides medical services in Poland.

Flotek Industries

Market Cap: US$549.1m

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

Hacksaw

Market Cap: SEK 18.0b

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

Grupo SBF

Market Cap: R$2.8b

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

Luk Fook Holdings (International)

Market Cap: HK$14.2b

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.

Hugel

Market Cap: ₩2.8t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

ASROCK Incorporation

Market Cap: NT$26.6b

Designs, develops, and sells motherboards in Asia, Europe, America, and internationally.

Sichuan Baicha Baidao Industrial

Market Cap: HK$8.3b

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

Deepak Fertilisers And Petrochemicals

Market Cap: ₹137.4b

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