Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Rithm Capital

Market Cap: US$6.2b

Operates as an asset manager focused on real estate, credit, and financial services in the United States.

Chorus Aviation

Market Cap: CA$524.1m

Through its subsidiaries, provides aviation services.

Aalberts

Market Cap: €3.0b

Offers mission-critical technologies for building, industry, and semicon markets in Europe, the United States, the Asia Pacific, the Middle East, and Africa.

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.

United Bank for Africa

Market Cap: ₦1.7t

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

Sabio Holdings

Market Cap: CA$15.7m

Operates as a technology provider in the advertising areas of connected TV (CTV) and over-the-top (OTT) streaming in the United States and the United Kingdom.

Cardlytics

Market Cap: US$64.1m

Operates an advertising platform in the United States and the United Kingdom.

Wolters Kluwer

Market Cap: €20.0b

Provides professional information, software solutions, and services in the Netherlands, rest of Europe, the United States, Canada, the Asia Pacific, Africa, and internationally.

Highwood Asset Management

Market Cap: CA$60.5m

Together with its subsidiary, operates as an oil and gas exploration and production company in Canada.

DNO

Market Cap: NOK 15.0b

Engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa.

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.

Prosegur Cash

Market Cap: €918.6m

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

DEME Group

Market Cap: €3.5b

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.

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.

L.D.C

Market Cap: €3.1b

Produces and sells poultry and processed products in France and internationally.

Dell Technologies

Market Cap: US$85.6b

Designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally.

Premier Foods

Market Cap: UK£1.5b

Manufactures, distributes, and sells branded and own label food products in the United Kingdom, other European countries, and internationally.

Crown Castle

Market Cap: US$38.4b

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.

Global Dominion Access

Market Cap: €486.6m

Provides integral services for business process efficiency and sustainability worldwide.

Veolia Environnement

Market Cap: €21.4b

Designs and provides water, waste, and energy management solutions.

ACT Energy Technologies

Market Cap: CA$171.5m

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

CSL

Market Cap: US$82.7b

Engages in the research, development, manufacture, market, and distribution of biopharmaceutical products and vaccines in Australia, the United States, Germany, the United Kingdom, Switzerland, China, Hong Kong, and internationally.

Capgemini

Market Cap: €24.1b

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.

MONY Group

Market Cap: UK£960.5m

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

Kaufman & Broad

Market Cap: €577.6m

Operates as a property developer and builder in France.

Carmila

Market Cap: €2.4b

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.

Cabka

Market Cap: €43.5m

Manufactures and sells pallets and large containers made from recycled plastic in Europe, North America, and internationally.

Econocom Group

Market Cap: €263.9m

Designs and develops digital solutions for public and private companies in Belgium and internationally.

Serabi Gold

Market Cap: CA$227.2m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

KBR

Market Cap: US$5.1b

Provides scientific, technology, and engineering solutions to governments and commercial customers worldwide.

Talgo

Market Cap: €350.9m

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

Austevoll Seafood

Market Cap: NOK 18.9b

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.

Bosideng International Holdings

Market Cap: €53.4b

Engages in the apparel business in the People’s Republic of China.

Asahi Group Holdings

Market Cap: €2.5t

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

Austevoll Seafood

Market Cap: NOK 18.9b

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.