German Potentially Undervalued Companies

Shenzhen Investment Holdings Bay Area Development

Market Cap: €5.8b

An investment holding company, initiates, promotes, develops, and operates toll expressways and bridges in the People’s Republic of China.

Grand City Properties

Market Cap: €1.9b

Engages in the residential real estate business in Germany, the United Kingdom, and internationally.

Samhällsbyggnadsbolaget i Norden

Market Cap: €9.1b

Owns, develops, and manages residential and social infrastructure properties in Sweden, Norway, Finland, and Denmark.

Ferrotec

Market Cap: €187.3b

Engages in semiconductor equipment-related, electronic device, and other businesses in Japan and internationally.

Okasan Securities Group

Market Cap: €138.1b

Engages in securities business in Japan.

Advanced Medical Solutions Group

Market Cap: €446.1m

Develops, manufactures, and distributes products for the surgical, woundcare, and wound-closure markets in the United Kingdom, Germany, rest of Europe, the United States, and internationally.

Boralex

Market Cap: €2.9b

Engages in the developing, building, and operating power generating and storage facilities in Canada, France, and the United States.

McKesson

Market Cap: €87.8b

Provides healthcare services in the United States and internationally.

Vale Indonesia

Market Cap: €39.4t

Engages in the mining and processing of nickel in Indonesia.

RS Group

Market Cap: €2.7b

Engages in the distribution of maintenance, repair, and operations products and service solutions in the United Kingdom, the United States, France, Mexico, Germany, Italy, Switzerland, and internationally.

Microsoft

Market Cap: €3.7t

Develops and supports software, services, devices, and solutions worldwide.

DENSO

Market Cap: €5.8t

Engages in the manufacture and sale of automotive parts in Japan, rest of Asia, North America, Europe, and internationally.

ATON Green Storage

Market Cap: €14.6m

Engages in the production and sale of storage systems for photovoltaic systems and battery energy storage system.

Svenska Handelsbanken

Market Cap: €240.2b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

MHP Hotel

Market Cap: €71.3m

Operates as an independent hotel investment and management company.

Glencore

Market Cap: €35.4b

Engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania.

IBJ

Market Cap: €33.0b

Provides marriage hunting services in Japan.

Interparfums

Market Cap: €2.4b

Designs, manufactures, and distributes perfumes and cosmetics through license agreements with ready-to-wear, jewelry, or accessories houses in France, Africa, North America, South America, Eastern Europe, Western Europe, Asia, and the Middle East.

Simmons First National

Market Cap: €3.0b

Operates as the bank holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses.

T-Mobile US

Market Cap: €270.5b

Provides wireless communications services in the United States, Puerto Rico, and the United States Virgin Islands.

Autohellas

Market Cap: €555.7m

Engages in the car rental and sale activities under the Hertz, Thrifty, Dollar, and Firefly brands.

Mako Mining

Market Cap: €522.3m

Engages in gold mining and exploration activities in Nicaragua.

NetEase

Market Cap: €728.6b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.

Rusta

Market Cap: €9.8b

Rusta AB (publ) retails products in home decoration, consumables, seasonal products, leisure, and Do It Yourself (DIY) categories in Sweden, Norway, Finland, and Germany.

Daxor

Market Cap: €56.7m

A medical device company, provides blood volume measurement technology focused on blood volume testing.

U.S. Physical Therapy

Market Cap: €1.2b

Operates and manages outpatient physical therapy clinics.

Ricegrowers

Market Cap: €1.0b

Operates as a rice food company in Australia, New Zealand, the Pacific Islands, Europe, the Middle East, Africa, Asia, and North America.

Safello Group

Market Cap: €107.2m

Provides a brokerage platform for individuals and businesses.

Photronics

Market Cap: €1.3b

Engages in the manufacture and sale of photomask products and services in the United States, Taiwan, China, Korea, Europe, and internationally.

TransUnion

Market Cap: €17.5b

Operates as a global consumer credit reporting agency that provides risk and information solutions.

Tamtron Group Oyj

Market Cap: €41.3m

Provides advanced weighing solutions in Finland.

Heiwa

Market Cap: €215.6b

Develops, manufactures, and sells pachinko and pachislot machines in Japan.

Wolftank Group

Market Cap: €37.0m

Provides environmental remediation and refueling solutions for renewable energies worldwide.

MHP Hotel

Market Cap: €71.3m

Operates as an independent hotel investment and management company.

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.

EQB

Market Cap: €3.6b

Through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada.