Global Potentially Undervalued Companies

Spectrum Pharmaceuticals

Market Cap: €209.9m

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

Equasens Société anonyme

Market Cap: €563.7m

Provides healthcare IT solutions in Europe.

Fresenius SE KGaA

Market Cap: €23.2b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Befesa

Market Cap: €1.3b

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

Bank Mandiri (Persero)

Market Cap: €409.3t

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

Sleep Cycle

Market Cap: €311.1m

Engages in the development of sleep analysis applications in Sweden and internationally.

A. O. Smith

Market Cap: €8.3b

Manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

Corebridge Financial

Market Cap: €13.3b

Provides retirement solutions and insurance products in the United States.

Regis Resources

Market Cap: €5.3b

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

Brinker International

Market Cap: €6.4b

Owns, develops, operates, and franchises casual dining restaurants in the United States and internationally.

Pollard Banknote

Market Cap: €497.8m

Engages in the manufacture and sale of lottery and charitable gaming products and solutions in the United States, Canada, and internationally.

BRP

Market Cap: €5.6b

Designs, develops, manufactures, and sells powersports vehicles and marine products in the United States, Canada, Europe, Asia Pacific, Latin America, and internationally.

Lithia Motors

Market Cap: €6.6b

Operates as an automotive retailer in the United States, the United Kingdom, and Canada.

Mears Group

Market Cap: €340.3m

Provides various outsourced services to the public and private sectors in the United Kingdom.

C&A Modas

Market Cap: R$3.4b

Operates as a fashion retailer for women, men, and children in Brazil and internationally.

Suzano

Market Cap: R$54.2b

Manufactures and sells pulp and paper products in Brazil and internationally.

Intred

Market Cap: €152.5m

A telecommunications operator, provides data and voice services in Italy.

Piraeus Bank

Market Cap: €9.8b

Provides various banking products and services in Greece, Europe, and internationally.

Grafton Group

Market Cap: €1.7b

Distributes and sells building materials and construction related products in Ireland, the United Kingdom, Ireland, the Netherlands, Finland, and Spain.

Aegean Airlines

Market Cap: €1.0b

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

Akzo Nobel

Market Cap: €8.5b

Produces and sells paints and coatings worldwide.

Regis Resources

Market Cap: US$5.3b

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

Scotts Miracle-Gro

Market Cap: €3.6b

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

Gecina

Market Cap: €5.3b

A leading operator that fully integrates all real estate expertise, owning, managing, and developing a unique prime portfolio valued at 17.6bn euros as at December 31, 2025.

GE HealthCare Technologies

Market Cap: €27.8b

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.

Perrigo

Market Cap: €1.6b

Provides over-the-counter health and wellness solutions in the United States, Europe, and internationally.

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.

CEWE Stiftung KGaA

Market Cap: €635.2m

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

Carmila

Market Cap: €2.4b

A leading European commercial real estate company, with 250 shopping centres across France, Spain and Italy.

Arnoldo Mondadori Editore

Market Cap: €535.6m

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

Royal Caribbean Cruises

Market Cap: €71.2b

Operates as a cruise company worldwide.

Asahi Group Holdings

Market Cap: €2.3t

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

Koninklijke Philips

Market Cap: €21.3b

Operates as a health technology company in North America, the Greater China, and internationally.

Yuexiu Transport Infrastructure

Market Cap: €6.6b

Invests in, constructs, develops, operates, and manages expressways and bridges in the People’s Republic of China.

TF1

Market Cap: €1.4b

Operates as a media and entertainment company, primarily engages in television broadcasting, content creation, and distribution of audiovisual rights in France, Continental Europe, and internationally.

Hoenle

Market Cap: €54.2m

Develops, manufactures, and distributes industrial UV technologies and systems in Germany and internationally.