German Capital Goods Potentially Undervalued Companies

MTU Aero Engines

Market Cap: €19.6b

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.

Sanwa Holdings

Market Cap: €925.3b

Through its subsidiaries, manufactures and sells construction materials for commercial and residential buildings in Japan, North America, Europe, and Asia.

Bell Equipment

Market Cap: €4.3b

Designs, manufactures, exports, distributes, and supports a range of heavy equipment for the mining and quarrying, construction, forestry, agriculture, and industry sectors in South Africa, Rest of Africa, and Europe.

ESAB

Market Cap: €6.6b

Engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment.

Titan Machinery

Market Cap: €392.6m

Owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia.

KAP

Market Cap: €3.8b

Engages in industrial, chemical, and logistics businesses in South Africa, rest of Africa, the Americas, Europe, the Middle East, and Australasia.

Tsukishima Holdings

Market Cap: €126.5b

Provides products and services for water and sewer facilities in Japan and internationally.

DKSH Holding

Market Cap: €3.4b

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

Twin Disc

Market Cap: €193.5m

Engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Finland, Italy, and internationally.

Porto Aviation Group

Market Cap: €10.4m

Engages in the production of gliders and aircrafts in Italy.

Bird Construction

Market Cap: €1.6b

Provides construction services in Canada.

Taiga Building Products

Market Cap: €388.6m

Operates as a wholesale distributor of building products in Canada and the United States.

SWCC

Market Cap: €231.9b

Operates in the energy systems, communication systems, and device businesses in Japan and internationally.

SMT Scharf

Market Cap: €41.3m

Engages in the development, manufacture, and service of transportation equipment and logistics systems for underground mining and tunnel construction.

Nisshinbo Holdings

Market Cap: €181.3b

Operates wireless communication, microdevice, automobile brakes, precision instruments, chemicals, textiles, and real estate businesses in China and internationally.

Barloworld

Market Cap: €21.8b

Operates as an industrial processing, distribution, and services company in Southern Africa, the United Kingdom, Australia, Russia, and Mongolia.

Avation

Market Cap: €108.9m

Avation PLC, together with its subsidiaries, leases commercial passenger aircraft to airlines worldwide.

KION GROUP

Market Cap: €7.2b

Provides industrial trucks and supply chain solutions in Western and Eastern Europe, the Middle East, Africa, North America, Central and South America, China, and the rest of the Asia Pacific.

Invicta Holdings

Market Cap: €3.5b

An investment holding company, engages in the distribution of engineering components and consumables in South Africa, the Rest of Africa, Europe, and Asia.

Grenevia

Market Cap: €1.9b

Manufactures and sells machinery and equipment for mining, transport, and power industries worldwide.

Shanghai Industrial Holdings

Market Cap: €14.7b

An investment holding company, engages in the infrastructure and environmental protection, real estate, consumer products, and comprehensive healthcare operations businesses.

Valmet Oyj

Market Cap: €5.5b

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.

Alumasc Group

Market Cap: €122.3m

Manufactures and sells building products, systems, and solutions in the United Kingdom, Europe, North America, the Middle East, the Far East, and internationally.

Jiangnan Group

Market Cap: €2.4b

Jiangnan Group Limited, an investment holding company, manufactures and trades in wires and cables in the People’s Republic of China.

MBH

Market Cap: €4.1k

An investment holding company, operates in the education, construction service, and leisure sectors in the United Kingdom, Oceania, Asia, and North America.

MasterBrand

Market Cap: €1.4b

Engages in the manufacture and sale of residential cabinets in the United States and Canada.

Italian-Thai Development

Market Cap: €1.3b

Engages in the construction business in Thailand, India, Bangladesh, and internationally.

Talgo

Market Cap: €344.7m

Designs, manufactures, and maintains high-speed light rail vehicles worldwide.

Balco Group

Market Cap: €529.5m

Engages in developing, manufacturing, selling, and installing balcony systems for tenant-owner associations, private landlords, municipal housing, architects, builders, and shipping companies.

Iveco Group

Market Cap: €4.9b

Engages in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses and specialty vehicles, combustion engines, alternative propulsion systems, transmissions, axles, engines, alternative propulsion systems, construction equipment, marine, and power generation applications in Europe, South America, North America, and internationally.

PLC

Market Cap: €54.3m

Operates as a general contractor in the construction of renewable energy power plants and electrical infrastructures in Italy and internationally.

Boeing

Market Cap: €162.6b

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

MINEBEA MITSUMI

Market Cap: €1.1t

Manufactures and supplies machined components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

Tarkett

Market Cap: €1.1b

Provides flooring and sports surface solutions to businesses and residential end users in Europe, the Middle East, Africa, North America, the Commonwealth of Independent States, the Asia Pacific, and Latin America.

Greiffenberger

Market Cap: €6.5m

Through its subsidiaries, engages in the manufacture and distribution of precision strip steel and saw blades for industrial applications worldwide.

WillScot Holdings

Market Cap: €3.9b

Provides turnkey temporary space solutions in the United States, Canada, and Mexico.