Global Undervalued Small Caps

Thryv Holdings

Market Cap: US$314.6m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

FirstSun Capital Bancorp

Market Cap: US$945.4m

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 Texas, Kansas, Colorado, New Mexico, Arizona, California, and Washington.

Propel Holdings

Market Cap: CA$856.0m

Operates as a financial technology company.

Firan Technology Group

Market Cap: CA$287.0m

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

Zevra Therapeutics

Market Cap: US$510.3m

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

Apeejay Surrendra Park Hotels

Market Cap: ₹31.6b

Owns and operates hotels in India.

Inspur Digital Enterprise Technology

Market Cap: HK$9.0b

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.

Converge Information and Communications Technology Solutions

Market Cap: ₱91.2b

Converge Information and Communications Technology Solutions, Inc.

Assetwise

Market Cap: ฿5.6b

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

KH Neochem

Market Cap: JP¥84.5b

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

AKVA group

Market Cap: NOK 3.4b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

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.

SILICON2

Market Cap: ₩2.4t

Engages in the distribution of cosmetics products worldwide.

Aurelia Metals

Market Cap: AU$380.8m

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

Security Bank

Market Cap: ₱52.9b

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

PORR

Market Cap: €995.7m

Operates as a construction company in Austria, Germany, Poland, the Czech Republic, Italy, Romania, Switzerland, Serbia, Great Britain, Slovakia, Norway, Belgium, and internationally.

CellaVision

Market Cap: SEK 3.8b

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

Cheerwin Group

Market Cap: HK$3.0b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

Altea Green Power

Market Cap: €110.0m

Supplies and manages renewable energy plants in Italy and the United States.

Gamma Communications

Market Cap: UK£892.1m

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

Kaufman & Broad

Market Cap: €553.1m

Operates as a property developer and builder in France.

Plano & Plano Desenvolvimento Imobiliário

Market Cap: R$2.9b

Through its subsidiaries develops, constructs, and sells real estate projects in the São Paulo Metropolitan Region.

Aviat Networks

Market Cap: US$311.1m

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

Legacy Education

Market Cap: US$108.0m

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

Byrna Technologies

Market Cap: US$419.5m

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.

CorMedix

Market Cap: US$874.4m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

Flotek Industries

Market Cap: US$455.2m

Operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally.

Consun Pharmaceutical Group

Market Cap: HK$12.6b

Researches and develops, manufactures, and sells Chinese medicines and medical contrast medium products in the People’s Republic of China.

AEON Credit Service (M) Berhad

Market Cap: RM 2.7b

Provides consumer financial services in Malaysia.

Krsnaa Diagnostics

Market Cap: ₹23.5b

Provides diagnostic services in India.

Visco Vision

Market Cap: NT$12.2b

Manufactures and sells silicone hydrogel contact lenses in Asia, Europe, and the Americas.

Nagarro

Market Cap: €559.6m

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

Palfinger

Market Cap: €1.2b

Produces and sells crane and lifting solutions in Austria and internationally.

R&S Group Holding

Market Cap: CHF 700.0m

Manufactures and supplies electrical infrastructure products the United Kingdom, Switzerland, Ireland, Italy, Poland, and the Middle East.

Accent Group

Market Cap: AU$718.4m

Engages in the retail, distribution, and franchise of lifestyle footwear, apparel, and accessories in Australia and New Zealand.

Afentra

Market Cap: UK£100.4m

Operates as an upstream oil and gas company primarily in Africa.