Global Capital Goods Healthy potentially undervalued

DEME Group

Market Cap: €4.2b

Provides marine solutions in Belgium, Europe, Africa, the United States, Asia, and the Middle East.

Douglas Dynamics

Market Cap: US$969.9m

Operates as a manufacturer and upfitter of commercial vehicle attachments and equipment in North America.

Eiffage

Market Cap: €11.9b

Engages in the construction and concessions businesses in France, Germany, Europe, and internationally.

Cadeler

Market Cap: NOK 20.9b

Operates as an offshore wind installation vessel contractor in Denmark, the United Kingdom, Germany, Poland, rest of Europe, the United States, and Taiwan.

L3Harris Technologies

Market Cap: US$51.7b

Provides mission-critical solutions for government and commercial customers worldwide.

Bouygues

Market Cap: €19.0b

Operates in the construction, energies and services, telecom, and media sectors in France and internationally.

Jinlei Technology

Market Cap: CN¥6.9b

Engages in the research, development, manufacture, machining, and sale of wind turbine main shafts, and various castings and forgings in China and internationally.

Sinoma International EngineeringLtd

Market Cap: CN¥20.7b

Operates in the cement technology equipment and engineering services industry in China and internationally.

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.9b

Engages in the research, development, production, and sale of power transmission, distribution, and control equipment in China and internationally.

Ningbo Sanxing Medical ElectricLtd

Market Cap: CN¥22.6b

Manufactures and sells power distribution in China and internationally.

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥33.8b

Engages in the research, development, manufacturing, and sale of various submarine and terrestrial cable products in China and internationally.

Titan International

Market Cap: US$466.0m

Manufactures and sells wheels, tires, and undercarriage systems and components for off-highway industry in North America, Europe, CIS, Latin America, Asia, and internationally.

CSG

Market Cap: €18.4b

Manufactures and sells defence products in the Czech Republic, Europe, the United States, and the Asia Pacific.

EMCOR Group

Market Cap: US$36.1b

Provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

Contemporary Amperex Technology

Market Cap: CN¥1.9t

Engages in the research, development, production, and sale of electric vehicle and energy storage system batteries in China and internationally.

Windey Energy Technology Group

Market Cap: CN¥10.0b

Researches, develops, manufactures, and sells wind turbines in China.

Beijing New Building Materials

Market Cap: CN¥32.1b

Manufactures and sells building materials in China.

Dajin Heavy IndustryLtd

Market Cap: CN¥29.9b

Manufactures and sells wind and photovoltaic power generation equipment in China and internationally.

SNT Energy

Market Cap: ₩547.4b

Operates in the machinery industry.

Zhuzhou CRRC Times Electric

Market Cap: HK$67.2b

Engages in the provision of propulsion and control systems in Mainland China and internationally.

INDUS Holding

Market Cap: €812.8m

A private equity firm specializing in growth capital mergers and acquisitions and corporate spin-offs.

DEUTZ

Market Cap: €1.5b

Engages in the development, production, distribution, maintenance, and servicing of diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

XJ Electric

Market Cap: CN¥24.3b

Provides energy and power and technology equipment in China and internationally.

J. Kumar Infraprojects

Market Cap: ₹37.3b

Engages in the construction business in India.

Zehnder Group

Market Cap: CHF 788.8m

Develops, manufactures, and sells indoor climate systems in Europe, North America, and China.

Middleby

Market Cap: US$6.1b

Operates in the foodservice industry worldwide.

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩26.4t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

CS Wind

Market Cap: ₩1.7t

Manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia.

XCMG Construction Machinery

Market Cap: CN¥98.7b

Engages in the manufacturing and sale of construction machinery in China.

Symal Group

Market Cap: AU$640.9m

Provides construction contracting, equipment hires, material sales, recycling, and remediation services to the civil construction industry in Australia.

Astra International

Market Cap: Rp204.6t

Operates in the automotive, financial services, heavy equipment, mining, construction, energy, agri, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Konecranes

Market Cap: €6.6b

Manufactures, sells, and services material handling products in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Fugro

Market Cap: €965.8m

Provides geo-data services for the infrastructure, energy, and water industries in Europe, Africa, the Americas, the Asia Pacific, the Middle East, and India.

Ashtead Technology Holdings

Market Cap: UK£357.4m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

China Yuchai International

Market Cap: US$1.7b

Manufactures, assembles, and sells diesel and natural gas engines for trucks, buses, pickups, construction and agricultural equipment, and marine and power generation applications.

Stantec

Market Cap: CA$11.3b

Provides professional services in the areas of infrastructure and facilities to private and public sectors in Canada, the United States, and internationally.