Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Aegean Airlines

Market Cap: €1.1b

Operates as an airline company that engages in the provision of public airline transportation services in Greece and internationally.

Vetoquinol

Market Cap: €807.7m

A veterinary pharmaceutical company, designs, develops, and sells veterinary drugs and non-medicinal products for cattle, pigs, dogs, and cats in Europe, the Americas, and the Asia Pacific region.

Hollywood Bowl Group

Market Cap: UK£472.7m

Operates ten-pin bowling and mini-golf centers in the United Kingdom and Canada.

China Life Insurance

Market Cap: US$998.8b

Operates as a life insurance company in the People’s Republic of China.

Forward Air

Market Cap: €327.6m

Operates as an asset-light freight and logistics company in the United States, Mexico, Europe, Asia, and Canada.

Champion Iron

Market Cap: US$2.4b

Engages in the acquisition, exploration, development, and production of iron ore properties in Canada.

Bank Mandiri (Persero)

Market Cap: €358.0t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

ProCredit Holding

Market Cap: €440.0m

Provides commercial banking products and services for small and medium enterprises and private clients in Europe, South America, and Germany.

Montea Comm. VA

Market Cap: €1.5b

A listed real estate company under Belgian law that specializes in logistics property in Belgium, the Netherlands, France, and Germany.

CellaVision

Market Cap: SEK 3.0b

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

HORNBACH Holding KGaA

Market Cap: €1.2b

Through its subsidiaries, develops and operates do-it-yourself (DIY) megastores with garden centers in Germany and other European countries.

China Construction Bank

Market Cap: US$2.3t

Engages in the provision of various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally.

FRP Advisory Group

Market Cap: UK£282.7m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

NetEase

Market Cap: €601.1b

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

Cencora

Market Cap: US$53.5b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Flowco Holdings

Market Cap: US$2.1b

Through its subsidiaries, provides production optimization, artificial lift, and emissions management and monetization solutions for the oil and natural gas industry in the United States.

Forbo Holding

Market Cap: CHF 1.0b

Engages in the production and sell of floor coverings, building and construction adhesives, and belt for power transmission and conveyor technology worldwide.

ICG

Market Cap: UK£5.1b

A private equity firm specializing in direct and fund of fund investments.

Havas

Market Cap: €1.6b

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

Euroseas

Market Cap: US$468.7m

Provides ocean-going transportation services in Greece and internationally.

Grupa Pracuj

Market Cap: €3.2b

Operates HR technology platform in Poland, Ukraine, and Germany.

Ferrari Group

Market Cap: €719.4m

Provides shipping, integrated logistics, and value-added services for jewelry and precious goods in Europe, Asia, North America, Brazil, and internationally.

Regis Resources

Market Cap: US$4.5b

Engages in the exploration, evaluation, and development of gold projects in Australia.

Arcos Dorados Holdings

Market Cap: €1.7b

Operates as a franchisee of McDonald’s restaurants.

TAL Education Group

Market Cap: €5.8b

Provides K-12 after-school tutoring services in the People’s Republic of China.

Ernst Russ

Market Cap: €292.4m

A publicly owned investment manager.

GE HealthCare Technologies

Market Cap: €29.4b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Scotts Miracle-Gro

Market Cap: €3.4b

Engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally.

Arjo

Market Cap: SEK 6.8b

Develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and the Pacific.

Antero Resources

Market Cap: US$11.0b

An independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States.

Tessenderlo Group

Market Cap: €1.2b

Engages in the agriculture, valorizing bio-residuals, machinery, mechanical engineering, electronics, energy, and industrial solution businesses worldwide.

Pentair

Market Cap: €11.8b

Provides various water solutions in the United States, Western Europe, China, Latin America, the Middle East, Southeast Asia, Australia, and Canada.

Bayer

Market Cap: US$35.5b

Operates as a life science company in Europe, the Middle East, Africa, Germany, Switzerland, North America, the United States, the Asia Pacific, China, Latin America, and Brazil.

Luckin Coffee

Market Cap: US$10.4b

Offers retail services of freshly brewed drinks, and pre-made food and beverage items in the People's Republic of China.

Arnoldo Mondadori Editore

Market Cap: €536.9m

Engages in publishing of books and magazines in Italy, rest of Europe, and the United States.