Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

Spectrum Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes oncology drug products.

China Foods

Market Cap: HK$7.8b

An investment holding company, manufactures, distributes, markets, and sells Coca-Cola series products in the People’s Republic of China.

Carlsberg

Market Cap: US$110.2b

Produces and markets beer and other beverage products in Denmark, China, the United Kingdom, and internationally.

Gecina

Market Cap: €6.2b

A leading operator, that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at 17.0bn Euro as at June 30, 2025.

PLDT

Market Cap: US$243.1b

Provides telecommunications and digital services in the Philippines.

DOF Group

Market Cap: €23.9b

Owns and operates a fleet of offshore and subsea vessels.

MGM Resorts International

Market Cap: US$10.1b

Through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally.

MONY Group

Market Cap: UK£1.1b

Engages in the provision of price comparison and lead generation services through its websites and applications in the United Kingdom.

TravelSky Technology

Market Cap: US$31.5b

Provides information technology (IT) solutions for the aviation and travel industries in the People’s Republic of China.

Grand Pharmaceutical Group

Market Cap: €31.4b

An investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical preparations and medical devices, biotechnology and healthcare products, and pharmaceutical raw materials.

Royal Unibrew

Market Cap: DKK 24.3b

Provides beer, soft drinks, malt beverages, energy drinks, cider/ready to drink, juice, water, and wine and spirits.

Havas

Market Cap: €1.5b

Provides communications and marketing services in France, the United Kingdom, rest of Europe, North America, Latin America, the Asia-Pacific, and Africa.

Bertrandt

Market Cap: €184.9m

Provides engineering services.

Arcadis

Market Cap: €3.6b

Offers design, engineering, architecture, and consultancy solutions for natural and built assets in The Americas, Europe, the Middle East, and the Asia Pacific.

Persimmon

Market Cap: UK£3.5b

Operates as a house builder in the United Kingdom.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.4b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

Tsingtao Brewery

Market Cap: €85.5b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Capgemini

Market Cap: €21.2b

Provides consulting, digital transformation, technology, and engineering services primarily in North America, France, the United Kingdom, Ireland, the rest of Europe, the Asia-Pacific, and Latin America.

Crown Castle

Market Cap: US$41.6b

Crown Castle owns, operates and leases approximately 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S.

Teva Pharmaceutical Industries

Market Cap: €21.2b

Develops, manufactures, markets, and distributes generic and other medicines, and biopharmaceutical products in the United States, Europe, Israel, and internationally.

Bidvest Group

Market Cap: €73.5b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Asahi Group Holdings

Market Cap: €2.9t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Royalty Pharma

Market Cap: €21.5b

Operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry in the United States.

Koenig & Bauer

Market Cap: €224.1m

Develops and manufactures printing and postprint systems worldwide.

Mattel

Market Cap: €6.0b

A toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Austevoll Seafood

Market Cap: NOK 18.6b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Bastide Le Confort Médical

Market Cap: €175.5m

Engages in the sale and rental of medical equipment for individuals and health professionals in France and internationally.

q.beyond

Market Cap: €111.6m

Engages in the cloud, applications, artificial intelligence (AI), and security business in Germany and internationally.

Diebold Nixdorf

Market Cap: US$2.2b

Engages in the automating, digitizing, and transforming the way people bank and shop worldwide.

Ero Copper

Market Cap: CA$2.1b

Engages in the exploration, development, and production of mining projects in Brazil.

CellaVision

Market Cap: SEK 4.0b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Torex Gold Resources

Market Cap: US$4.3b

Operates as an intermediate gold producer.

Huron Consulting Group

Market Cap: US$2.3b

Provides consultancy and managed services in the United States and internationally.

Gamma Communications

Market Cap: UK£965.8m

Provides technology-based communications and software services to small, medium, and large-sized organizations in the United Kingdom, rest of Europe, and internationally.

Lenovo Group

Market Cap: €136.5b

An investment holding company, develops, manufactures, and markets technology products and services.

Yalla Group

Market Cap: US$1.2b

Operates a social networking and gaming platform in the Middle East and North Africa region.