Global Undervalued Small Caps

Indegene

Market Cap: ₹103.0b

Operates as a digital-first life sciences commercialization company in India, the United States, Europe, and internationally.

Vikram Solar

Market Cap: ₹65.7b

Manufactures and sells solar photovoltaic modules/systems in India and internationally.

NSL Foods

Market Cap: ฿6.9b

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

Converge Information and Communications Technology Solutions

Market Cap: ₱94.1b

Converge Information and Communications Technology Solutions, Inc.

Bilia

Market Cap: SEK 11.5b

Operates as a full-service supplier for car ownership in Sweden, Norway, Luxemburg, and Belgium.

Security Bank

Market Cap: ₱50.7b

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

SILICON2

Market Cap: ₩2.2t

Engages in the distribution of cosmetics products worldwide.

FRP Advisory Group

Market Cap: UK£265.8m

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

Embla Medical hf

Market Cap: DKK 11.8b

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

Altea Green Power

Market Cap: €121.1m

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

Construtora Tenda

Market Cap: R$3.6b

Operates as a construction company in Brazil.

Trisul

Market Cap: R$1.4b

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

Lavvi Empreendimentos Imobiliários

Market Cap: R$3.0b

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

FirstSun Capital Bancorp

Market Cap: US$972.8m

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 the United States.

Grupa Pracuj

Market Cap: zł2.6b

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

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.

LiveRamp Holdings

Market Cap: US$1.8b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Inspur Digital Enterprise Technology

Market Cap: HK$4.2b

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.

Orion Group Holdings

Market Cap: US$411.7m

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

Fauji Cement

Market Cap: PK₨96.1b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Future

Market Cap: JP¥145.3b

Provides IT consulting and services primarily in Japan.

Zevra Therapeutics

Market Cap: US$585.9m

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

Village Farms International

Market Cap: US$332.1m

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

Lifedrink Company

Market Cap: JP¥50.4b

Manufactures and sells soft drinks in Japan.

North East Rubber

Market Cap: ฿8.7b

Manufactures and sells rubber products in Thailand.

Ependion

Market Cap: SEK 3.1b

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

Grupo SBF

Market Cap: R$2.4b

Grupo SBF S.A. retails and wholesales sports and leisure products in Brazil.

Hacksaw

Market Cap: SEK 17.0b

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

Boozt

Market Cap: SEK 5.4b

Sells fashion, apparel, shoes, accessories, kids, home, sports, and beauty products online.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Nagarro

Market Cap: €625.9m

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

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

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.

United Electronics

Market Cap: ر.س5.9b

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.

Eternal Beauty Holdings

Market Cap: HK$2.7b

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.