Bulgarian Potentially Undervalued Companies

Devon Energy

Market Cap: €18.3b

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

Bayerische Motoren Werke

Market Cap: €41.1b

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

Bayer

Market Cap: €19.8b

Operates as a life science company worldwide.

Teva Pharmaceutical Industries

Market Cap: €15.4b

Develops, manufactures, markets, and distributes generic and other medicines, and biopharmaceutical products in the United States, Europe, Israel, and internationally.

BP

Market Cap: €52.5b

An integrated energy company, provides carbon products and services.

Deutsche Post

Market Cap: €39.3b

Operates as a mail and logistics company in Germany, rest of Europe, the Americas, the Asia Pacific, the Middle East, and Africa.

China Construction Bank

Market Cap: €1.6t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

HSBC Holdings

Market Cap: €131.2b

Engages in the provision of banking and financial products and services worldwide.

Boeing

Market Cap: €118.0b

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

MTU Aero Engines

Market Cap: €14.5b

Engages in the development, manufacture, marketing, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Merck KGaA

Market Cap: €50.1b

Operates as a science and technology company in Germany.

Alphabet

Market Cap: €1.9t

Offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.

Adobe

Market Cap: €150.2b

Operates as a technology company worldwide.

Heidelberger Druckmaschinen

Market Cap: €304.3m

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.

Merck

Market Cap: €199.2b

Operates as a healthcare company worldwide.

Warner Bros. Discovery

Market Cap: €36.8b

Operates as a media and entertainment company worldwide.

Fresenius Medical Care KGaA

Market Cap: €11.2b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Orpheus Club Wellness AD

Market Cap: лв58.3k

Provides tourist products and services in Bulgaria.

BASF

Market Cap: €36.4b

Operates as a chemical company worldwide.

STMicroelectronics

Market Cap: €15.7b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Mercedes-Benz Group

Market Cap: €46.4b

Operates as an automotive company in Germany and internationally.

Central Cooperative Bank AD

Market Cap: лв199.6m

A commercial bank, provides various financial products and services.

Covestro

Market Cap: €11.0b

Supplies high-tech polymer materials and application solutions.

First Investment Bank AD

Market Cap: лв587.4m

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

Bulmetal JSC

Market Cap: лв60.8m

Manufactures and sells metal packaging for food and chemical industries in Bulgaria.

Medical Properties Trust

Market Cap: €3.2b

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

UniCredit

Market Cap: €72.2b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

Stellantis

Market Cap: €22.1b

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.

HelloFresh

Market Cap: €1.2b

Operates as meal kit provider for home industry.

Orange

Market Cap: €32.4b

Provides fixed telephony, mobile telecommunication, data transmission, and other value-added services to individuals, professionals, and large companies in France and internationally.

AXA

Market Cap: €87.3b

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

Vale

Market Cap: €229.1b

Produces and sells iron ore, iron ore pellets, nickel, and copper in Brazil and internationally.

DWS Group GmbH KGaA

Market Cap: €8.1b

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

Aker Carbon Capture

Market Cap: €2.0b

Provides products, technology, and solutions within the field of carbon capture technologies, utilization, and storage in Norway and internationally.

Meituan

Market Cap: €860.1b

Operates as a technology retail company in the People’s Republic of China.

Fraport

Market Cap: €5.2b

Owns and operates airports in Germany, rest of Europe, Asia, and the United States.