Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

q.beyond

Market Cap: €91.9m

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

Surgery Partners

Market Cap: US$2.0b

Owns and operates a network of surgical facilities and ancillary services in the United States.

Pearson

Market Cap: €6.4b

Provides educational courseware, assessments, and services in the United Kingdom, the United States, Canada, the Asia Pacific, other European countries, and internationally.

ACT Energy Technologies

Market Cap: CA$170.0m

Provides directional drilling services to oil and natural gas companies in Canada and the United States.

Oshkosh

Market Cap: US$7.9b

Provides purpose-built vehicles and equipment worldwide.

ACI Worldwide

Market Cap: US$4.8b

Develops, markets, installs, and supports software products and services for facilitating electronic payments in the United States and internationally.

Urban Outfitters

Market Cap: US$5.5b

Offers lifestyle products and services.

MINISO Group Holding

Market Cap: €6.5b

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.

Indofood Sukses Makmur

Market Cap: €62.3t

Operates as a food solutions company in Indonesia, the Middle East, Africa, the rest of Asia, and internationally.

CEWE Stiftung KGaA

Market Cap: €676.2m

Operates as a photo service and online printing provider in Germany and internationally.

Spectrum Brands Holdings

Market Cap: €1.4b

Operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, Latin America, and Asia-Pacific regions.

On the Beach Group

Market Cap: €302.0m

Operates as an online retailer of short haul beach holidays under the On the Beach brand name in the United Kingdom.

USCB Financial Holdings

Market Cap: US$320.0m

Operates as the bank holding company for U.S.

Cyfrowy Polsat

Market Cap: €8.0b

Provides digital satellite platform and terrestrial television (TV), and telecommunication services primarily in Poland.

Flowco Holdings

Market Cap: US$1.5b

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

Business First Bancshares

Market Cap: US$745.7m

Operates as the bank holding company for b1BANK that provides various banking products and services in Louisiana and Texas.

M.P. Evans Group

Market Cap: €668.1m

Through its subsidiaries, owns and develops oil palm plantations in Indonesia and Malaysia.

Nilfisk Holding

Market Cap: €2.7b

Develops, manufactures, and sells cleaning solutions and services worldwide.

Tenaga Nasional Berhad

Market Cap: US$77.4b

Engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.

Alimentation Couche-Tard

Market Cap: CA$66.1b

Operates and licenses convenience stores in North America, Europe, and Asia.

Air Canada

Market Cap: CA$5.5b

Provides domestic, U.S. transborder, and international airline services.

FinVolution Group

Market Cap: US$1.5b

An investment holding company, operates in the online consumer finance industry in the People’s Republic of China, Indonesia, and internationally.

Propel Holdings

Market Cap: CA$855.2m

Operates as a financial technology company.

Regional Management

Market Cap: US$364.9m

A diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States.

East West Bancorp

Market Cap: US$14.1b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Globe Life

Market Cap: US$10.5b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Merchants Bancorp

Market Cap: US$1.5b

Operates as the diversified bank holding company in the United States.

Torex Gold Resources

Market Cap: US$6.1b

Operates as an intermediate gold producer.

Plumas Bancorp

Market Cap: US$293.2m

Operates as the bank holding company for the Plumas Bank that provides various banking products and services for small and middle market businesses and individuals in California, Nevada, and Oregon.

Alaris Equity Partners Income Trust

Market Cap: €880.0m

A private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments.

Wesdome Gold Mines

Market Cap: €3.1b

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada.

First Citizens BancShares

Market Cap: US$22.7b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Sagicor Financial

Market Cap: CA$1.1b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

Forestar Group

Market Cap: US$1.2b

Operates as a residential lot development company in the United States.

Aecon Group

Market Cap: US$1.7b

Aecon Group Inc., together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally.