German Potentially Undervalued Companies

Royal Caribbean Cruises

Market Cap: €91.4b

Operates as a cruise company worldwide.

Investor

Market Cap: €875.1b

A private equity firm specializing in mature, middle market, buyouts and growth capital investments.

Fomento de Construcciones y Contratas

Market Cap: €5.3b

Engages in the environmental services, water management, infrastructure development, and real estate businesses in Europe and internationally.

Mirum Pharmaceuticals

Market Cap: €3.7b

A biopharmaceutical company, focuses on the development and commercialization of novel therapies for debilitating rare and orphan diseases.

Caesarstone

Market Cap: €48.4m

Designs, develops, manufactures, and sells engineered stone and porcelain products under Caesarstone and other brands in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel.

Darma Henwa

Market Cap: €9.0t

Engages in mining support and other excavation activities, and machine repair for special purposes in Indonesia.

Metals Exploration

Market Cap: €377.5m

Metals Exploration plc identifies, acquires, explores for, and develops mining and processing properties in the United Kingdom and the Philippines.

Cal-Comp Electronics (Thailand)

Market Cap: €63.2b

Manufactures electronic products worldwide.

Theon International

Market Cap: €1.9b

Develops and manufactures customizable night vision, thermal imaging, and electro-optical ISR systems for military and security applications in Europe and internationally.

DN Deutsche Nachhaltigkeit

Market Cap: €224.7m

Neon Equity AG is a private equity firm specializing in growth capital, buyout and SPAC investments.

Vistra

Market Cap: €71.1b

Operates as an integrated retail electricity and power generation company in the United States.

123fahrschule

Market Cap: €19.9m

Engages in driving license training in the German driving school market.

Asymchem Laboratories (Tianjin)

Market Cap: €39.6b

Asymchem Laboratories (Tianjin) Co., Ltd.

Ubisoft Entertainment

Market Cap: €1.1b

Produces, publishes, distributes, and operates video games for consoles, PC, smartphones, and tablets in both physical and digital formats in Europe, North America, and internationally.

CapitaLand Integrated Commercial Trust

Market Cap: €17.8b

CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$15.9 billion as at 30 June 2025.

Axsome Therapeutics

Market Cap: €5.9b

A biopharmaceutical company, develops and delivers novel therapies for the management of central nervous system (CNS) disorders in the United States.

First Bank

Market Cap: €413.4m

Provides various banking products and services to small and mid-sized businesses and individuals.

Golden Entertainment

Market Cap: €638.3m

Golden Entertainment, Inc. and its wholly-owned subsidiaries own and operate a diversified entertainment platform, consisting of a portfolio of gaming assets that focus on casino and branded tavern operations.

PTT

Market Cap: €949.1b

Engages in petroleum business in Thailand, Asia, Europe, the United States, and internationally.

Karnov Group

Market Cap: €12.4b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

Intron Technology Holdings

Market Cap: €1.8b

An investment holding company, operates as an automotive electronics solutions provider in Hong Kong, the Mainland China, and internationally.

Informatica

Market Cap: €7.5b

Develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale worldwide.

Ansell

Market Cap: €4.9b

Designs, sources, develops, manufactures, distributes, and sells hand and body protection solutions in the Asia Pacific, Europe, the Middle East, Africa, Latin America, the Caribbean, and North America.

Sonova Holding

Market Cap: €14.2b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

CTS

Market Cap: €1.2b

Designs, manufactures, and sells sensors, connectivity components, and actuators in North America, Europe, and Asia.

Shofu

Market Cap: €69.7b

Manufactures and sells dental materials and equipment worldwide.

Scherzer

Market Cap: €63.1m

A publicly owned investment manager.

SPS Commerce

Market Cap: €4.0b

Provides cloud-based supply chain management solutions in the United States.

Williams-Sonoma

Market Cap: €24.0b

Operates as an omni-channel specialty retailer of various products for home.

Flowserve

Market Cap: €7.4b

Designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific.

NetScout Systems

Market Cap: €1.8b

Provides service assurance and cybersecurity solutions to protect digital business services against disruptions in the United States, Europe, Asia, and internationally.

Fresenius SE KGaA

Market Cap: €26.2b

A health care company, provides products and services for chronically ill patients.

Koskisen Oyj

Market Cap: €214.4m

Operates in the wood industry in Finland, Japan, Germany, Poland, other European countries, and internationally.

RTL Group

Market Cap: €5.4b

An entertainment company, operates television (TV) channels and radio stations, and provides streaming services in Germany, France, the Netherlands, Belgium, the United Kingdom, the United States, and internationally.

PDF Solutions

Market Cap: €765.4m

Provides proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware tools, proven methodologies, and professional services in the United States, Japan, China, Taiwan, and internationally.

Simon Property Group

Market Cap: €68.8b

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”).