Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Huaqin Technology

Market Cap: CN¥89.3b

Engages in the development, manufacturing, and operation service of software, hardware, systems for tech companies worldwide.

Carnival Corporation &

Market Cap: €33.5b

A cruise company, provides leisure travel services in North America, Australia, Europe, and internationally.

Altea Green Power

Market Cap: €111.4m

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

ICG

Market Cap: UK£6.0b

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

ProSiebenSat.1 Media

Market Cap: €1.1b

Operates as a media company in Germany, Austria, Switzerland, the United States, and internationally.

Kaufman & Broad

Market Cap: €581.5m

Operates as a property developer and builder in France.

q.beyond

Market Cap: €88.5m

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

Sanofi

Market Cap: €104.9b

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

Robert Walters

Market Cap: UK£90.4m

Provides professional recruitment consultancy services worldwide.

Austevoll Seafood

Market Cap: NOK 17.6b

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.

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.

Talgo

Market Cap: €356.4m

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

CDW

Market Cap: €18.6b

Provides information technology (IT) solutions in the United States, the United Kingdom, and Canada.

DOF Group

Market Cap: €23.2b

Owns and operates a fleet of offshore and subsea vessels.

Theon International

Market Cap: €1.7b

Develops and manufactures customizable night vision, thermal imaging, and electro-optical ISR systems for military and security applications in Europe and internationally.

ConocoPhillips

Market Cap: €107.0b

Explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids.

Prosegur Cash

Market Cap: €1.1b

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.

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.

BAE Systems

Market Cap: €49.0b

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

Koenig & Bauer

Market Cap: €160.1m

Develops and manufactures printing and postprint systems worldwide.

LPKF Laser & Electronics

Market Cap: €139.1m

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

Befesa

Market Cap: €1.1b

Offers environmental recycling services to the steel and aluminum industries in the European, Asian, and North American markets.

CEWE Stiftung KGaA

Market Cap: €684.4m

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

ARYZTA

Market Cap: CHF 1.2b

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

Capgemini

Market Cap: €22.6b

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.

Sword Group

Market Cap: €329.7m

Provides IT and software solutions.

lastminute.com

Market Cap: CHF 130.1m

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

Fortune Brands Innovations

Market Cap: US$6.0b

Engages in the provision of home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally.

Axalta Coating Systems

Market Cap: US$6.3b

Through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

Cheniere Energy

Market Cap: €44.1b

An energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States.

Gamma Communications

Market Cap: UK£856.3m

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

FDJ United

Market Cap: €4.5b

Engages in the gaming operation and distribution business in France and internationally.

ANTA Sports Products

Market Cap: €235.6b

Engages in the research, design, development, manufacture, market, and sale of professional sports footwear, apparel, and accessories in China and internationally.

KBR

Market Cap: US$5.2b

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

LPKF Laser & Electronics

Market Cap: €139.1m

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