Global Undervalued Small Caps

Security Bank

Market Cap: ₱51.5b

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

Duc Giang Chemicals Group

Market Cap: ₫20.2t

Manufactures industrial products in Vietnam.

Aurelia Metals

Market Cap: AU$448.8m

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

NSL Foods

Market Cap: ฿6.5b

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

CellaVision

Market Cap: SEK 3.9b

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

Future

Market Cap: JP¥148.2b

Provides IT consulting and services primarily in Japan.

ProCredit Holding

Market Cap: €532.4m

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

Orion Group Holdings

Market Cap: US$472.7m

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

Trisul

Market Cap: R$1.3b

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.

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.

Trican Well Service

Market Cap: CA$1.3b

An equipment services company, provides various products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells in Canada.

Zevra Therapeutics

Market Cap: US$626.5m

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

FRP Advisory Group

Market Cap: UK£287.5m

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

Norwegian Air Shuttle

Market Cap: NOK 15.4b

Provides air travel services in Norway and internationally.

Cirrus Aircraft

Market Cap: HK$14.8b

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.

Energy Recovery

Market Cap: US$558.9m

Designs, manufactures, and sells energy efficiency technology solutions in the United States, North, South and Latin America, the Middle East, Northern Africa, Asia, and Europe.

Village Farms International

Market Cap: US$343.0m

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

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.

Martinrea International

Market Cap: CA$677.4m

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.

Aviat Networks

Market Cap: US$294.2m

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

Voxel

Market Cap: zł1.1b

Provides medical services in Poland.

Flotek Industries

Market Cap: US$564.3m

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

McBride

Market Cap: UK£280.4m

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.

Quad/Graphics

Market Cap: US$399.8m

Provides marketing solutions in North America, Mexico, Central America, the Caribbean, Europe, the Middle East, Africa, South America, and Asia.

Aegean Airlines

Market Cap: €1.2b

Operates as an airline company that engages in the provision of public airline transportation services in Greece and internationally.

Luk Fook Holdings (International)

Market Cap: HK$13.6b

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.

Sichuan Baicha Baidao Industrial

Market Cap: HK$8.5b

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

ASROCK Incorporation

Market Cap: NT$27.7b

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

Hugel

Market Cap: ₩2.9t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Tracsis

Market Cap: UK£95.3m

Engages in the provision of software, hardware, data analytics and geographic information systems, and services in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.

Unidata

Market Cap: €88.4m

Provides fiber and networking, cloud and data center, and IoT and smart solutions in Italy.

Foresight Group Holdings

Market Cap: UK£453.9m

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

Vizionfocus

Market Cap: NT$11.3b

Engages in the manufacturing of medical equipment in Japan, China, Southeast Asia and the United States.