Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Altea Green Power

Market Cap: €120.4m

Supplies and manages renewable energy plants in Italy and the United States.

United Bank for Africa

Market Cap: ₦1.6t

Primarily provides corporate, commercial, and retail banking services in Nigeria, rest of Africa, and internationally.

Ernst Russ

Market Cap: €227.1m

A publicly owned investment manager.

Demant

Market Cap: DKK 46.4b

Operates as a hearing healthcare company in Europe, North America, Asia, Pacific region, and internationally.

Jazz Pharmaceuticals

Market Cap: €10.2b

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products in the United States, Europe, and internationally.

EVS Broadcast Equipment

Market Cap: €477.9m

Provides live video technology for broadcast and media productions in the United States, Europe, Africa, Middle East, and Asia Pacific.

Gecina

Market Cap: €5.9b

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

Carmila

Market Cap: €2.3b

As the third-largest listed owner of commercial property in Europe, Carmila was founded by Carrefour and large institutional investors in order to enhance the value of shopping centres adjoining Carrefour hypermarkets in France, Spain and Italy.

DEME Group

Market Cap: €3.6b

Provides marine solutions in the fields of offshore energy, dredging, marine infrastructure, and environmental works in Belgium, Europe, Africa, the United States, Asia, Oceania, and the Middle East.

Gamma Communications

Market Cap: UK£833.2m

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

Austevoll Seafood

Market Cap: NOK 18.0b

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.

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.

LPKF Laser & Electronics

Market Cap: €135.2m

Develops, manufactures, and sells laser-based solutions for the technology industry worldwide.

lastminute.com

Market Cap: CHF 134.3m

Operates in the online travel industry providing dynamic holiday packages in Italy, Spain, the United Kingdom, France, Germany, and internationally.

Métropole Télévision

Market Cap: €1.5b

Operates as a multimedia group in France.

Auto Trader Group

Market Cap: UK£5.1b

Operates an automotive platform in the United Kingdom.

Kimberly-Clark

Market Cap: €34.2b

Manufactures and markets personal care products in the United States.

CellaVision

Market Cap: SEK 3.7b

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

ARYZTA

Market Cap: CHF 1.3b

Provides products and services for in-store bakery solutions in Europe and internationally.

Ventura Offshore Holding

Market Cap: NOK 2.0b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Koenig & Bauer

Market Cap: €175.8m

Develops and manufactures printing and postprint systems worldwide.

LPKF Laser & Electronics

Market Cap: €135.2m

Develops, manufactures, and sells laser-based solutions for the technology industry worldwide.

Argan

Market Cap: €1.6b

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France.

q.beyond

Market Cap: €91.7m

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

Loomis

Market Cap: SEK 25.0b

Provides secure payment solutions in the United States, France, Switzerland, Spain, the United Kingdom, Sweden, and internationally.

BAE Systems

Market Cap: €50.6b

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

Sanofi

Market Cap: €101.4b

Engages in the research, development, manufacture, and marketing of therapeutic solutions.

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.

Origin Enterprises

Market Cap: €431.2m

Provides agronomy services company in Ireland, the United Kingdom, Brazil, Poland, Romania, Latin America, and internationally.

Talgo

Market Cap: €344.1m

Engages in design, manufacture, and maintenance of railway and auxiliary machinery for the maintenance of railway systems rolling stock worldwide.

Tennant

Market Cap: US$1.4b

Designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Arcadis

Market Cap: €3.1b

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

MINISO Group Holding

Market Cap: €6.0b

An investment holding company, engages in the retail and wholesale of design-led lifestyle and pop toy products in Mainland China, the rest of Asia, North and Latin America, Europe, and internationally.

Robert Walters

Market Cap: €84.8m

Provides professional recruitment consultancy services worldwide.

Uber Technologies

Market Cap: €176.8b

Develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.