Global Capital Goods Healthy potentially undervalued

Gates Industrial

Market Cap: US$5.7b

Manufactures and sells engineered power transmission and fluid power solutions worldwide.

Textron

Market Cap: US$14.2b

Operates in the aircraft, defense, industrial, and finance businesses worldwide.

Snap-on

Market Cap: US$17.5b

Manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide.

EMCOR Group

Market Cap: US$30.3b

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¥1.8t

Engages in the development, production, sale, and after-sales service of power battery systems, energy storage battery systems, and battery materials formed by applying battery recycling technology worldwide.

CRRC

Market Cap: CN¥209.9b

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, design, manufacture, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Suzhou Gold Mantis Construction Decoration

Market Cap: CN¥9.0b

Engages in the design and construction of interior decoration, curtain walls, furniture, and landscape in China.

Tutor Perini

Market Cap: US$3.6b

A construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide.

Fortive

Market Cap: US$16.0b

Designs, develops, manufactures, and markets products, software, and services in the United States, China, and internationally.

Dassault Aviation société anonyme

Market Cap: €22.3b

Designs and manufactures military aircraft, business jets, and space systems in France, the United States, and internationally.

Granite Construction

Market Cap: US$4.5b

Operates as an infrastructure contractor in the United States.

DKSH Holding

Market Cap: CHF 3.6b

Provides various market expansion services in Thailand, Greater China, Malaysia, Singapore, rest of the Asia Pacific, and internationally.

Luceco

Market Cap: UK£205.6m

Manufactures and distributes wiring accessories, LED lighting, and portable power products in the United Kingdom, the Americas, Europe, the Middle East, Africa, the Asia Pacific.

Storskogen Group

Market Cap: SEK 16.6b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

Valmet Oyj

Market Cap: €5.2b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, South America, China, Europe, the Middle East, Africa, and the Asia Pacific.

2G Energy

Market Cap: €513.1m

Manufactures systems for decentralized energy supply in Germany and internationally.

Vp

Market Cap: UK£231.5m

Provides equipment rental and related services in the United Kingdom and internationally.

A. O. Smith

Market Cap: US$9.2b

Manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

Stanley Black & Decker

Market Cap: US$10.5b

Provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia.

Southland Holdings

Market Cap: US$241.9m

Engages in specialty infrastructure construction business in North America.

United Rentals

Market Cap: US$55.4b

Through its subsidiaries, operates as an equipment rental company.

Hitachi Construction Machinery

Market Cap: JP¥1.1t

Manufactures and sells construction machineries in Japan, the Americas, Europe, Russia, CIS, Africa, the Middle East, Asia, Oceania, and China.

Sinoseal Holding

Market Cap: CN¥7.3b

Engages in the research and development, manufacture, and sale of mechanical seals and their auxiliary systems in China and internationally.

Fletcher Building

Market Cap: NZ$3.5b

Manufactures and distributes building products in New Zealand, Australia, and internationally.

China State Construction Engineering

Market Cap: CN¥224.4b

Operates as an investment and construction company in China and internationally.

Jardine Cycle & Carriage

Market Cap: S$13.2b

An investment holding company, engages in providing the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia.

Metlen Energy & Metals

Market Cap: €5.7b

Operates as an industrial and energy company with focus on the metals and energy sectors worldwide.

Vesuvius

Market Cap: UK£918.6m

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

AB Volvo

Market Cap: SEK 525.1b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

Andritz

Market Cap: €6.3b

Engages in the provision of industrial machinery, equipment, and services in Europe, North America, South America, China, Asia, Africa, Australia, and internationally.

DL E&CLtd

Market Cap: ₩1.7t

A construction company, provides engineering, procurement, and construction solutions in South Korea.

Vestas Wind Systems

Market Cap: DKK 132.8b

Engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally.

Costain Group

Market Cap: UK£411.1m

Provides infrastructure solutions for the transportation, energy, water, and defense sectors in the United Kingdom.

NN

Market Cap: US$85.8m

Designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States, China, Brazil, Mexico, Germany, Poland, and internationally.

Illinois Tool Works

Market Cap: US$70.8b

Provides industrial products and equipment in North America, Europe, the Middle East, Africa, the Asia Pacific, and South America.

Tupy

Market Cap: R$1.6b

Engages in the development, manufacture, and sale of cast and compacted graphite iron structural components in North America, South and Central Americas, Europe, Asia, Africa, Oceania, and internationally.