German Capital Goods Potentially Undervalued Companies

Nitto Boseki

Market Cap: €248.3b

Engages in the manufacture, processing, and sale of textile products; glass fiber products; chemical products and pharmaceutical products; planning, supervision, and contracting for construction; and design, manufacture, and sale of machinery and equipment in Japan.

Otis Worldwide

Market Cap: €35.0b

Engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally.

Hirata

Market Cap: €60.7b

Manufactures and sells various manufacturing line systems, industrial robots, and logistic equipment in Japan and internationally.

Hiab Oyj

Market Cap: €3.2b

Provides smart and on road load-handling solutions and services in Finland.

Emerson Electric

Market Cap: €74.0b

A technology and software company, provides various solutions in the Americas, Asia, the Middle East, Africa, and Europe.

Newag

Market Cap: €3.8b

Engages in the production and sale of railway locomotives and rolling stocks in Poland.

Steyr Motors

Market Cap: €275.6m

Engages in manufacturing and selling diesel engines for commercial and military vehicles worldwide.

REPT BATTERO Energy

Market Cap: €30.1b

Engages in the research, design, development, production, and sale of lithium-ion battery products in China and internationally.

Photon Energy

Market Cap: €174.8m

Through its subsidiaries, builds and optimizes solar power plants and energy storage systems in the Czech Republic, Hungary, Poland, Australia, Romania, the Slovak Republic, Germany, New Zealand, and internationally.

Gesco

Market Cap: €161.5m

Operates in the process, resource, healthcare, and infrastructure technology sectors in Germany, rest of Europe, the United States, and internationally.

Tsubakimoto Chain

Market Cap: €211.7b

Manufactures and sells chains, motion control, mobility, materials handling systems components in Japan.

James Halstead

Market Cap: €660.6m

Manufactures and supplies flooring products for commercial and domestic uses in the United Kingdom, rest of Europe, Scandinavia, Australasia, Asia, and internationally.

SBF

Market Cap: €60.7m

Through its subsidiary, SBF Spezialleuchten GmbH, engages in the development, manufacture, and distribution of ceiling and lighting systems for indoor and outdoor rail vehicles.

IRCE

Market Cap: €57.4m

Engages in manufacturing and selling of winding wires and electrical cables in Italy, rest of European Union, and internationally.

Erbud

Market Cap: €389.5m

Engages in the construction business in Poland and internationally.

Atkore

Market Cap: €2.0b

Engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally.

Koç Holding

Market Cap: €451.1b

Through its subsidiaries, engages in the energy, automotive, consumer durables, finance, and other businesses in Turkey and internationally.

Systemair

Market Cap: €16.7b

Manufactures and sells of ventilation, heating and cooling products, and systems in Europe, North America, the Middle East, Asia, Australia, and Africa.

Singapore Technologies Engineering

Market Cap: €26.6b

Operates as a technology, defence, and engineering company worldwide.

Nomura Micro Science

Market Cap: €130.1b

Engages in the design, installation, and sale of water treatment technologies in Japan, South Korea, Taiwan, China, and the United States.

BayWa

Market Cap: €674.8m

Provides wholesale, retail, logistics, and support and consultancy services in Germany and internationally.

Duratec

Market Cap: €514.9m

Engages in the provision of assessment, protection, remediation, and refurbishment services to a range of assets primarily for steel and concrete infrastructure in Australia.

BayWa

Market Cap: €674.8m

Provides wholesale, retail, logistics, and support and consultancy services in Germany and internationally.

Hoshizaki

Market Cap: €800.7b

Researches, develops, manufactures, and sells commercial kitchen appliances and equipment worldwide.

Knorr-Bremse

Market Cap: €12.7b

Develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide.

I.CO.P.. Società Benefit

Market Cap: €559.3m

Engages in providing construction and special engineering services to public and private clients in Italy and internationally.

Columbus Energy

Market Cap: €413.3m

Provides solar photovoltaics and heat pumps installation and maintenance services in Poland.

FDK

Market Cap: €13.4b

Manufactures and sells batteries, rechargeable batteries, battery devices, and electronic components and devices in Japan.

ASSA ABLOY

Market Cap: €356.8b

Provides door opening and access products for the institutional, commercial, and residential markets.

Alligo

Market Cap: €5.4b

Offers workwear, personal protection equipment, tools, and consumables in Sweden, Norway, and Finland.

MIRAIT ONE

Market Cap: €258.2b

Engages in the telecommunications construction, electrical construction, civil engineering work, and architectural and construction businesses in Japan.

Mitsubishi Electric

Market Cap: €7.9t

Develops, manufactures, sells, and distributes electrical and electronic equipment in Japan, North America, rest of Asia, Europe, and internationally.

Fagerhult Group

Market Cap: €7.3b

Designs, manufactures, and markets professional lighting solutions worldwide.

ACS Actividades de Construcción y Servicios

Market Cap: €17.1b

ACS, Actividades de Construcción y Servicios, S.A.

LSI Industries

Market Cap: €693.3m

Manufactures, markets, and sells non-residential lighting and retail display solutions in the United States.

Resideo Technologies

Market Cap: €6.2b

Develops, manufactures, sells, and distributes comfort, energy management, and safety and security solutions in the United States, Europe, and internationally.