Global Capital Goods Healthy potentially undervalued

Douglas Dynamics

Market Cap: US$1.1b

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

Bouygues

Market Cap: €18.2b

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

EuroGroup Laminations

Market Cap: €156.6m

Engages in the design, production, and distribution of motor cores for electric motors and generators.

Eiffage

Market Cap: €11.5b

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

Atmus Filtration Technologies

Market Cap: US$4.4b

Designs, manufactures, and sells filtration products under the Fleetguard brand in the United States and internationally.

Cadeler

Market Cap: NOK 20.8b

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$55.9b

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

DEME Group

Market Cap: €4.2b

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

Sinoma International EngineeringLtd

Market Cap: CN¥20.5b

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

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.3b

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¥21.2b

Manufactures and sells power distribution in China and internationally.

Jinlei Technology

Market Cap: CN¥6.8b

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

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥32.1b

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

Palfinger

Market Cap: €1.2b

Provides hydraulic lifting solutions in Austria and internationally.

Titan International

Market Cap: US$516.3m

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

Bodycote

Market Cap: UK£1.2b

Provides heat treatment and thermal processing services worldwide.

EMCOR Group

Market Cap: US$33.1b

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

CSG

Market Cap: €16.3b

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

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.

Doosan

Market Cap: ₩18.1t

Engages in the power generation facilities, industrial facilities, construction machinery, engines, and construction businesses in Korea, the United States, Asia, the Middle East, Europe, and internationally.

Neway Valve (Suzhou)

Market Cap: CN¥32.5b

Researches, develops, produces, and sells industrial valves in the People’s Republic of China and internationally.

Windey Energy Technology Group

Market Cap: CN¥9.1b

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

Shenzhen KSTAR Science and Technology

Market Cap: CN¥19.3b

Engages in the research, development, production, and sale of uninterruptible power supply products in the China and internationally.

Dat Phuong Group

Market Cap: ₫3.1t

Engages in the real estate construction and development business in Vietnam.

Binastra Corporation Berhad

Market Cap: RM 2.3b

An investment holding company, engages in general contractor and property developer, building and civil engineering works in turnkey projects in Malaysia.

Granite Construction

Market Cap: US$5.4b

Provides infrastructure solutions for public and private clients in the United States.

Ariston Holding

Market Cap: €1.2b

Through its subsidiaries, produces and distributes hot water and space heating solutions in the Netherlands, Germany, Italy, Switzerland, and internationally.

Beijing New Building Materials

Market Cap: CN¥33.0b

Manufactures and sells building materials in China.

Huntington Ingalls Industries

Market Cap: US$11.3b

Designs, builds, overhauls, and repairs military ships in the United States.

Yizumi Holdings

Market Cap: CN¥9.1b

Engages in designs, researches and develops, manufactures, sells, and services of various molding machines in China and internationally.

Xi'an Sinofuse Electric

Market Cap: CN¥12.0b

Engages in the research, development, production, and sale of fuses and related accessories in China.

SNT Energy

Market Cap: ₩517.7b

Operates in the machinery industry.

Dajin Heavy IndustryLtd

Market Cap: CN¥29.1b

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

Zhuzhou CRRC Times Electric

Market Cap: HK$62.6b

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

Vesuvius

Market Cap: UK£970.0m

Provides molten metal flow engineering and technology services to steel and foundry casting industries worldwide.

INDUS Holding

Market Cap: €680.9m

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