German Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

Asahi Group Holdings

Market Cap: €2.4t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Enovis

Market Cap: €1.5b

A medical technology company, focuses on developing clinically differentiated solutions in the United States and internationally.

q.beyond

Market Cap: €98.4m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Green Thumb Industries

Market Cap: €2.0b

Manufactures, distributes, markets, and sells of cannabis products for medical and adult-use in the United States.

GFT Technologies

Market Cap: €395.4m

Provides digital transformation services.

AAC Technologies Holdings

Market Cap: €37.9b

An investment holding company, provides sensory experience solutions in Greater China, the United States, Europe, Other Asian countries, and internationally.

American Integrity Insurance Group

Market Cap: €414.3m

Operates as an insurance company.

Myer Holdings

Market Cap: €597.1m

Operates department stores in Australia and New Zealand.

Tongcheng Travel Holdings

Market Cap: €44.4b

An investment holding company, provides travel related services in the People’s Republic of China.

Science Applications International

Market Cap: €4.2b

Provides technical, engineering, and enterprise information technology (IT) services in the United States.

Lithia Motors

Market Cap: €6.4b

Operates as an automotive retailer in the United States, the United Kingdom, and Canada.

PENN Entertainment

Market Cap: €1.9b

Provides integrated entertainment, sports content, and casino gaming experiences in the United States and internationally.

Ernst Russ

Market Cap: €254.7m

A publicly owned investment manager.

Cooper-Standard Holdings

Market Cap: €661.4m

Through its subsidiary, manufactures sealing systems and fluid handling systems in the North America, Europe, the Asia Pacific, and the South America.

Intrum

Market Cap: €5.0b

Provides payment solutions, and credit and collection services in Europe and internationally.

Brinker International

Market Cap: €6.2b

Owns, develops, operates, and franchises casual dining restaurants in the United States and internationally.

Ayvens

Market Cap: €7.8b

Provides service leasing and vehicle fleet management services in the France, Rest of Europe, Latin America, Asia, and internationally.

CEWE Stiftung KGaA

Market Cap: €659.0m

Operates as a photo service and online printing provider in Germany and internationally.

Arnoldo Mondadori Editore

Market Cap: €515.7m

Engages in publishing of books and magazines in Italy, rest of Europe, and the United States.

Havas

Market Cap: €1.5b

Provides communications and marketing services in France, the United Kingdom, rest of Europe, North America, Latin America, the Asia-Pacific, and Africa.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.8b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

Bank7

Market Cap: €391.8m

Operates as a bank holding company for Bank7 that provides banking and financial services to individual and corporate customers.

Valeura Energy

Market Cap: €1.2b

Engages in the exploration, development, and production of petroleum and natural gas in Thailand and in Turkey.

MINISO Group Holding

Market Cap: €5.3b

An investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally.

Perrigo

Market Cap: €1.7b

Provides over-the-counter health and wellness solutions in the United States, Europe, and internationally.

Huhtamäki Oyj

Market Cap: €3.1b

Provides packaging solutions in the United States, Germany, the United Kingdom, India, Turkey, Australia, Thailand, Poland, South Africa, Spain, Finland, and internationally.

Grupa Pracuj

Market Cap: €2.8b

Operates HR technology platform in Poland, Ukraine, and Germany.

Akzo Nobel

Market Cap: €9.5b

Produces and sells paints and coatings worldwide.

Yuexiu Transport Infrastructure

Market Cap: €7.6b

Invests in, constructs, develops, operates, and manages expressways and bridges in the People’s Republic of China.

Cheerwin Group

Market Cap: €3.1b

An investment holding company, manufactures and trades household insecticides and repellents, household cleaning, air care, personal care, pet stores and pet products, and other products in the People’s Republic of China.

TF1

Market Cap: €1.5b

Operates as a media and entertainment company, primarily engages in television broadcasting, content creation, and distribution of audiovisual rights in France, Continental Europe, and internationally.

Alaris Equity Partners Income Trust

Market Cap: €1.0b

A private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments.

Kuaishou Technology

Market Cap: €262.2b

An investment holding company, provides live streaming, online marketing, and other services in the People’s Republic of China.

Corebridge Financial

Market Cap: €12.5b

Provides retirement solutions and insurance products in the United States.

Grand Pharmaceutical Group

Market Cap: €25.5b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.