Bulgarian Potentially Undervalued Companies

Alibaba Group Holding

Market Cap: €343.6b

Through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally.

Boeing

Market Cap: €147.9b

Designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

PayPal Holdings

Market Cap: €58.8b

Operates a technology platform that enables digital payments for merchants and consumers worldwide.

BNP Paribas

Market Cap: €76.7b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Heidelberger Druckmaschinen

Market Cap: €608.7m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Medical Properties Trust

Market Cap: €2.6b

A self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities.

Devon Energy

Market Cap: €21.3b

An independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.

HelloFresh

Market Cap: €867.2m

Operates as meal kit provider for home industry.

Aurora Cannabis

Market Cap: €342.5m

Engages in the production, distribution, and sale of cannabis and cannabis-derivative products in Canada and internationally.

Aroundtown

Market Cap: €3.4b

Operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.

Stellantis

Market Cap: €26.0b

Engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide.

First Investment Bank AD

Market Cap: лв760.3m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Bayerische Motoren Werke

Market Cap: €54.2b

Develops, manufactures, and sells automobiles and motorcycles, spare parts, and accessories worldwide.

Park REIT

Market Cap: лв7.0m

Operates as a diversified REIT company.

Central Cooperative Bank AD

Market Cap: лв211.0m

A commercial bank, provides various financial products and services.

Deutsche Telekom

Market Cap: €129.8b

Provides integrated telecommunication services worldwide.

DWS Group GmbH KGaA

Market Cap: €10.4b

Offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

AXA

Market Cap: €87.3b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

GFT Technologies

Market Cap: €605.6m

Provides digital transformation services.

SCOR

Market Cap: €4.9b

Provides life and non-life reinsurance products in Europe, the Middle East, Africa, the Americas, Latin America, and the Asia Pacific.

Johnson & Johnson

Market Cap: €453.9b

Engages in the research and development, manufacture, and sale of various products in the healthcare field worldwide.

AGRANA Beteiligungs-Aktiengesellschaft

Market Cap: €753.0m

Operates as an industrial processor of agricultural raw materials in Austria, European Union, rest of Europe, and internationally.

Crédit Agricole

Market Cap: €49.4b

Provides retail, corporate, insurance, and investment banking products and services in France and internationally.

Telelink Business Services Group AD

Market Cap: лв111.3m

Designs and integrates IT infrastructure solutions for companies.

Bayer

Market Cap: €27.9b

Operates as a life science company worldwide.

TUI

Market Cap: €3.9b

Provides tourism services worldwide.

Gradus AD

Market Cap: лв249.4m

Produces and sells poultry products in Bulgaria, Europe, and internationally.

Eleven Capital AD

Market Cap: лв36.6m

A venture capital firm.

Altria Group

Market Cap: €97.7b

Through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

ProSiebenSat.1 Media

Market Cap: €1.6b

Operates as a media company in Germany, Austria, Switzerland, the United States, and internationally.

Air Canada

Market Cap: €5.6b

Provides domestic, U.S. transborder, and international airline services.

Rio Tinto Group

Market Cap: €84.6b

Engages in exploring, mining, and processing mineral resources worldwide.

Fresenius SE KGaA

Market Cap: €14.6b

A health care company, provides products and services for chronically ill patients.

Toplofikatsia-Ruse AD

Market Cap: лв226.8m

Produces and sells electricity and thermal energy in Bulgaria.

Zarneni Hrani Bulgaria AD

Market Cap: лв22.5m

Provides services to agricultural producers in Bulgaria.

Aumovio

Market Cap: €3.9b

Develops, produces, and supplies hardware, software, and mobility solutions in Germany, Europe, North America, Asia-Pacific, and internationally.