German Potentially Undervalued Companies

Cisco Systems

Market Cap: €266.2b

Designs, developes, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China.

ATON Green Storage

Market Cap: €14.6m

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

McKesson

Market Cap: €87.8b

Provides healthcare services in 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.

Vale Indonesia

Market Cap: €41.6t

Engages in the mining and processing of nickel in Indonesia.

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.

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.

Advanced Medical Solutions Group

Market Cap: €450.5m

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.

CK Hutchison Holdings

Market Cap: €197.8b

An investment holding company, primarily operates in ports and related services, retail, infrastructure, and telecommunications businesses in Hong Kong, Mainland China, Europe, Canada, Asia, Australia, and internationally.

South Bow

Market Cap: €8.0b

Operates as an energy infrastructure company.

Philip Morris CR

Market Cap: €49.4b

Through its subsidiary, Philip Morris Slovakia s.r.o., manufactures and markets tobacco products under the Marlboro, L&M, Chesterfield, Petra Klasik, Sparta, and RGD brands in the Czech Republic and the Slovak Republic.

Compagnie Générale des Établissements Michelin Société en commandite par actions

Market Cap: €22.2b

Engages in the manufacture and sale of tires worldwide.

Tecsys

Market Cap: €508.3m

Engages in the development, marketing, and sale of enterprise-wide supply chain management software and related services in Canada, the United States, Europe, and internationally.

Eni

Market Cap: €45.3b

Operates as an integrated energy company in Italy, Other European Union, Rest of Europe, the United States, Asia, Africa, and internationally.

Clairvest Group

Market Cap: €1.0b

A private equity firm specializing in mid-market, growth equity investments, buyouts, industry consolidation and acquisitions.

Rio2

Market Cap: €762.5m

Engages in the exploration, development, and mining of mineral properties in Canada, Peru, Bahamas, and Chile.

Saputo

Market Cap: €14.1b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, Argentina, and the United Kingdom.

Stockland

Market Cap: €15.0b

We are a leading creator and curator of connected communities with people at the heart of the places we create.

Metals X

Market Cap: €549.6m

Engages in the production of tin in Australia.

Adtalem Global Education

Market Cap: €4.9b

Provides healthcare education in the United States, Barbados, St.

Commerce.com

Market Cap: €373.8m

Operates a software-as-a-service e-commerce platform for brands and retailers in the United States, North and South America, Europe, the Middle East, Africa, and the Asia Pacific.

Anglo American

Market Cap: €26.9b

Operates as a mining company in the United Kingdom and internationally.

Hansoh Pharmaceutical Group

Market Cap: €234.3b

An investment holding company, engages in the research, development, production, and sale of pharmaceutical products in the People’s Republic of China.

Grupo Traxión. de

Market Cap: €8.1b

Provides logistics and mobility solutions in Mexico and Latin America.

Kornit Digital

Market Cap: €674.6m

Develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

DENSO

Market Cap: €6.0t

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

Mount Logan Capital

Market Cap: €54.2m

An investment firm primarily focused on investing in public and private debt securities.

Magis

Market Cap: €68.1m

Engages in the manufacture and sale of adhesive tapes and similar products for disposable nappies and adult incontinence products.

Serica Energy

Market Cap: €698.8m

Serica Energy plc, together with its subsidiaries, identifies, acquires, and exploits oil and gas reserves oil in the United Kingdom.

Planetel

Market Cap: €27.6m

Offers IP communication and broadband Internet solutions in Italy.

BioHarvest Sciences

Market Cap: €126.3m

Operates as a biotechnology company in Israel and the United States.

FONAR

Market Cap: €98.1m

Engages in the designing, manufacturing, and selling magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries in the United States.

Cullen/Frost Bankers

Market Cap: €8.3b

Operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas.

Wells Fargo

Market Cap: €258.7b

A financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.

Compagnie d'Entreprises CFE

Market Cap: €232.9m

Engages in the real estate, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally.

Majestic Gold

Market Cap: €177.3m

A mining company, focuses on exploration, development, and operation of mining properties in China.