German Capital Goods Potentially Undervalued Companies

Vestas Wind Systems

Market Cap: €120.1b

Engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally.

NORMA Group

Market Cap: €468.4m

Manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

STS Group

Market Cap: €25.7m

Supplies components and systems for the commercial vehicle and automotive industry in Germany, France, Mexico, the United States, and China.

Deceuninck

Market Cap: €279.9m

Engages in the design, manufacture, recycling, and distribution of multi-material window, door, and building solutions in Europe, North America, Turkey, and internationally.

VBG Group

Market Cap: €7.8b

Develops, manufactures, markets, and sells various industrial products in Sweden, Germany, rest of the Nordic countries and Europe, the United States, rest of North America, Brazil, Australia, New Zealand, China, and internationally.

Lords Group Trading

Market Cap: €52.4m

Distributes building materials, plumbing, heating, and DIY goods to local tradesmen, developers, small and medium construction companies, and retail customers.

Oshkosh

Market Cap: €8.2b

Provides purpose-built vehicles and equipment worldwide.

Gibraltar Industries

Market Cap: €1.8b

Manufactures and provides products and services for the residential, renewable energy, agtech, and infrastructure markets in the United States and internationally.

Ag Growth International

Market Cap: €684.5m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

Signify

Market Cap: €2.8b

Provides lighting products, systems, and services in Europe, the Americas, and internationally.

Chongqing Machinery & Electric

Market Cap: €6.4b

Designs, manufactures, and sells clean energy equipment and high-end smart manufacturing equipment.

Rush Enterprises

Market Cap: €4.5b

Through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada.

CIMC Enric Holdings

Market Cap: €15.9b

Provides transportation, storage, and processing equipment and services for the clean energy, chemicals, environmental, and liquid food sectors worldwide.

Aumann

Market Cap: €182.2m

Manufactures and sells specialized machines and production lines for electromobility, automation, and robot applications in Germany, rest of Europe, the United States, Canada, Mexico, China, and internationally.

ADENTRA

Market Cap: €828.1m

Engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States.

Traton

Market Cap: €13.8b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

3M

Market Cap: €81.5b

Provides diversified technology services in the Americas, the Asia Pacific, Europe, the Middle East, Africa, and internationally.

Obayashi

Market Cap: €1.7t

Engages in the construction business in Japan, North America, Asia and internationally.

Vestas Wind Systems

Market Cap: €120.1b

Engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally.

Hino Motors

Market Cap: €221.6b

Manufactures and sells commercial vehicles under the Hino brand worldwide.

Namura Shipbuilding

Market Cap: €235.5b

Engages in the manufacture and sale of ships, machinery, and steel structures worldwide.

Meidensha

Market Cap: €266.7b

Engages in the power infrastructure; public, industrial, and commercial sector; mobility and electrical components; field service engineering; and real estate businesses in Japan and internationally.

Traton

Market Cap: €13.8b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

TKH Group

Market Cap: €1.4b

Develops and delivers smart vision, smart manufacturing, and smart connectivity systems in the Netherlands, rest of Europe, Asia, North America, and internationally.

Impro Precision Industries

Market Cap: €7.6b

Provides casting products and precision machining parts in the Americas, Europe, and Asia.

V2X

Market Cap: €1.7b

Provides critical mission solutions and support services to defense customers worldwide.

Hexagon Composites

Market Cap: €2.9b

Provides alternative fuel systems and solutions to commercial vehicles and gas distribution companies worldwide.

Peab

Market Cap: €21.9b

Operates as a construction and civil engineering company in Sweden, Norway, Finland, Denmark, and internationally.

EVA Precision Industrial Holdings

Market Cap: €2.0b

An investment holding company, provides precision manufacturing services in the People’s Republic of China, Vietnam, and Mexico.

Manitou BF

Market Cap: €706.4m

Engages in the development, manufacture, and distribution of equipment and services in the France, Southern Europe, Northern Europe, the Americas, Asia, the Pacific, Africa, and the Middle East.

NORMA Group

Market Cap: €468.4m

Manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

LION E-Mobility

Market Cap: €14.1m

Through its subsidiaries, engages in the development, production, and distribution of battery modules and packs, and battery management systems in Switzerland.

CITIC

Market Cap: €324.6b

Operates in the financial services, advanced intelligent manufacturing, advanced materials, consumption, and urbanization businesses in the Mainland of China, Hong Kong, Macau, Taiwan, and internationally.

China Communications Services

Market Cap: €31.7b

Together with its subsidiaries provides telecommunications support services worldwide.

Regal Rexnord

Market Cap: €9.4b

Provides sustainable solutions for power, transmit, and control motion products in the North America, Asia, Europe, and internationally.

3M

Market Cap: €81.5b

Provides diversified technology services in the Americas, the Asia Pacific, Europe, the Middle East, Africa, and internationally.