Global Capital Goods Healthy potentially undervalued

Bouygues

Market Cap: €18.8b

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

DEME Group

Market Cap: €4.2b

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

Atmus Filtration Technologies

Market Cap: US$4.5b

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

Nitto Boseki

Market Cap: JP¥647.1b

Manufactures, processes, and sells glass fiber, chemical and pharmaceutical, and textile products in Japan.

Sinoma International EngineeringLtd

Market Cap: CN¥20.5b

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

Ningbo Orient Wires & CablesLtd

Market Cap: CN¥27.3b

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

Guangdong Mingyang ElectricLtd

Market Cap: CN¥12.7b

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¥22.7b

Manufactures and sells power distribution in China and internationally.

Limbach Holdings

Market Cap: US$919.5m

Operates as a building systems solution company in the United States.

Cadeler

Market Cap: NOK 21.0b

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

Eiffage

Market Cap: €11.8b

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

Titan International

Market Cap: US$483.4m

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

AtkinsRéalis Group

Market Cap: CA$14.6b

Provides professional services and project management, and capital investment services in the United Kingdom, Canada, the United States, Saudi Arabia, and internationally.

EMCOR Group

Market Cap: US$36.2b

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

CSG

Market Cap: €18.2b

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

Windey Energy Technology Group

Market Cap: CN¥10.2b

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

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.

SNT Energy

Market Cap: ₩562.2b

Operates in the machinery industry.

Beijing New Building Materials

Market Cap: CN¥31.8b

Manufactures and sells building materials in China.

Dajin Heavy IndustryLtd

Market Cap: CN¥30.6b

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

Zhuzhou CRRC Times Electric

Market Cap: HK$67.7b

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

INDUS Holding

Market Cap: €814.1m

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¥23.9b

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

Middleby

Market Cap: US$6.3b

Operates in the foodservice industry worldwide.

Zehnder Group

Market Cap: CHF 788.8m

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

CS Wind

Market Cap: ₩1.7t

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

HD Korea Shipbuilding & Offshore Engineering

Market Cap: ₩28.0t

HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

XCMG Construction Machinery

Market Cap: CN¥98.4b

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

Symal Group

Market Cap: AU$645.7m

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

J. Kumar Infraprojects

Market Cap: ₹37.1b

Engages in the construction business in India.

Ashtead Technology Holdings

Market Cap: UK£339.7m

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

Fugro

Market Cap: €958.0m

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

Comer Industries

Market Cap: €1.4b

Designs and produces engineering systems and mechatronic solutions for power transmission applications in North America, Latin America, the Asia Pacific, Europe, the Middle East, and Africa.

Stantec

Market Cap: CA$11.6b

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