U.K. Capital Goods Potentially Undervalued Companies

Nexus Infrastructure

Market Cap: UK£11.9m

Through its subsidiaries, develops and delivers infrastructure solutions.

Beijer Alma

Market Cap: SEK 15.2b

Engages in component manufacturing and industrial trading businesses in Sweden, rest of Nordic Region, rest of Europe, North America, Asia, and internationally.

dormakaba Holding

Market Cap: CHF 3.0b

Provides access and security solutions worldwide.

QinetiQ Group

Market Cap: UK£2.8b

Provides science and technology solution in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally.

Phoenix Mecano

Market Cap: CHF 404.6m

Manufactures and sells components for industrial customers worldwide.

Ashtead Group

Market Cap: UK£21.6b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

James Halstead

Market Cap: UK£660.6m

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

BAE Systems

Market Cap: UK£59.5b

Provides defense, aerospace, and security solutions in the United States, the United Kingdom, the Middle East, Australia, Japan, Europe, and internationally.

Compagnie d'Entreprises CFE

Market Cap: €219.6m

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

RS Group

Market Cap: UK£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.

Cohort

Market Cap: UK£631.9m

Provides various products and services in defense, security, and related markets in the United Kingdom, Germany, Portugal, Australia, North and South America, Asia Pacific, Africa, and other European countries.

Deere

Market Cap: US$126.8b

Engages in the manufacture and distribution of various equipment worldwide.

PNE

Market Cap: €979.0m

Engages in the planning, construction, and operation of wind farms and transformer stations in Germany and internationally.

IMCD

Market Cap: €5.4b

Distributes, markets, and sells specialty chemicals and ingredients in the Netherlands, rest of Europe, the Middle East, Africa, North America, South America, and the Asia-Pacific.

Brenntag

Market Cap: €7.4b

Engages in the distribution of chemicals and ingredients in Germany, the United States, the United Kingdom, China, Canada, Italy, Poland, France, and internationally.

Volex

Market Cap: UK£653.8m

Manufactures and sells power and connectivity in North America, Europe, and Asia.

Recticel

Market Cap: €514.6m

An insulation company, provides thermal and thermo-acoustic solutions in Belgium, France, the Netherlands, Germany, Slovenia, other European Union countries, the United Kingdom, the United States, and internationally.

Renold

Market Cap: UK£160.8m

Engages in the manufacture and sale of high precision engineered power transmission products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally.

Systemair

Market Cap: SEK 16.7b

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

Solar

Market Cap: DKK 1.6b

Operates as a sourcing and services company in electrical, heating and plumbing, ventilation, and climate and energy solutions in the Danish, Swedish, Norwegian, and Dutch markets.

Brickability Group

Market Cap: UK£183.0m

Distributes specialist products and services to the construction industry in the United Kingdom.It operates through four segments: Bricks and Building Materials; Importing; Distribution; and Contracting.

Dassault Aviation société anonyme

Market Cap: €22.4b

Designs and manufactures military aircraft, business jets, and space systems in France, the United States, and internationally.

BayWa

Market Cap: €674.8m

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

SIG

Market Cap: UK£113.1m

Supplies specialist insulation and sustainable construction products and solutions in the United Kingdom, Germany, France, Benelux, Poland, and Ireland.

Alimak Group

Market Cap: SEK 16.6b

Alimak Group AB (publ) desigs and manufactures vertical access solutions in Europe, Asia, Australia, South and North America, and internationally.

A. O. Smith

Market Cap: US$10.1b

Manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

Biesse

Market Cap: €205.8m

Manufactures and sells integrated lines and machines for the processing of wood, glass, stone, plastics, and composites in Western Europe, the Asia-Pacific, Eastern Europe, North America, and internationally.

Ferguson Enterprises

Market Cap: UK£46.0b

Distributes plumbing and heating products in the United States and Canada.

Bonheur

Market Cap: NOK 9.7b

Engages in the renewable energy, wind service, and cruise businesses in the United Kingdom, Norway, Europe, Asia, the Americas, Africa, and Internationally.

HOCHTIEF

Market Cap: €17.1b

Engages in the construction business worldwide.

Jardine Matheson Holdings

Market Cap: US$18.2b

Operates in motor vehicles and related operations, property investment and development, food retailing, health and beauty, home furnishings, engineering and construction, and transport businesses in China, Southeast Asia, and internationally.

Valmet Oyj

Market Cap: €5.6b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, South America, China, Europe, the Middle East, Africa, and the Asia Pacific.

Rolls-Royce Holdings

Market Cap: UK£98.5b

Develops and delivers mission-critical power systems in the United Kingdom and internationally.

Metso Oyj

Market Cap: €9.9b

Provides technologies, end-to-end solutions, and services for the aggregates, minerals processing, and metals refining industries in Europe, North and Central America, South America, the Asia Pacific, Greater China, Africa, the Middle East, and India.

DNOW

Market Cap: US$1.7b

Distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation, gas utilities, and customer on-site and off-site locations in the United States, Canada, the United Kingdom, Norway, Australia, the Netherlands, Singapore, and the Middle East.