U.S. Capital Goods Potentially Undervalued Companies

Orion Group Holdings

Market Cap: US$224.2m

Operates as a specialty construction company in the infrastructure, industrial, and building sectors in the United States, Alaska, Hawaii, Canada, and the Caribbean Basin.

Alta Equipment Group

Market Cap: US$141.0m

Owns and operates integrated equipment dealership platforms in the United States and Canada.

Tennant

Market Cap: US$1.3b

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

AB Volvo

Market Cap: US$491.7b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

Bombardier

Market Cap: US$8.0b

Engages in the design, manufacture, and sale of business aircraft and aircraft structural components worldwide.

Flowserve

Market Cap: US$5.6b

Designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific.

Finning International

Market Cap: US$5.1b

Sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally.

Dover

Market Cap: US$22.2b

Provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.

WESCO International

Market Cap: US$7.2b

Provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally.

Griffon

Market Cap: US$3.4b

Through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally.

AAR

Market Cap: US$1.9b

Provides products and services to commercial aviation, government, and defense markets worldwide.

Textron

Market Cap: US$11.9b

Operates in the aircraft, defense, industrial, and finance businesses worldwide.

MRC Global

Market Cap: US$883.2m

Through its subsidiaries, distributes pipes, valves, fittings, and other infrastructure products and services in the United States and internationally.

Advanced Drainage Systems

Market Cap: US$8.2b

Designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally.

Gibraltar Industries

Market Cap: US$1.6b

Manufactures and provides products and services for the residential, renewable energy, agtech, and infrastructure markets in the United States and internationally.

EMCOR Group

Market Cap: US$17.4b

Provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

Dycom Industries

Market Cap: US$4.4b

Provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States.

Toro

Market Cap: US$6.8b

Designs, manufactures, markets, and sells professional turf maintenance equipment and services.

Daikin IndustriesLtd

Market Cap: US$4.6t

Manufactures, distributes, and sells air-conditioning and refrigeration equipment, and chemical products in Japan, the Americas, China, Asia, Europe, Europe, and internationally.

Boeing

Market Cap: US$118.0b

Designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

Tutor Perini

Market Cap: US$1.1b

A construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide.

Southland Holdings

Market Cap: US$172.8m

Engages in specialty infrastructure construction business in North America.

Moog

Market Cap: US$5.2b

Designs, manufactures, and integrates precision motion and fluid controls and controls systems for original equipment manufacturers and end users in the aerospace, defense, and industrial markets in the United States, Germany, and internationally.

NN

Market Cap: US$94.3m

Designs, manufactures, and sells high-precision components and assemblies for various end markets in the United States, China, Brazil, Mexico, Germany, Poland, and internationally.

Komatsu

Market Cap: US$3.6t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, Rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

Hammond Power Solutions

Market Cap: US$922.4m

Engages in the design, manufacture, and sale of various transformers in Canada, the United States, Mexico, and India.

Doman Building Materials Group

Market Cap: US$583.8m

Through its subsidiaries, engages in the wholesale distribution of building materials and home renovation products in the United States and Canada.

CK Hutchison Holdings

Market Cap: US$152.4b

An investment holding company, primarily operates in ports and related services, retail, infrastructure, and telecommunications businesses in Hong Kong and internationally.

Middleby

Market Cap: US$7.1b

Designs, manufactures, markets, distributes, and services commercial restaurant, food processing, and residential kitchen equipment worldwide.

Boise Cascade

Market Cap: US$3.6b

Engages in manufacture and sale of engineered wood products (EWP) and plywood, and wholesale distribution of building materials in the United States and Canada.

MTU Aero Engines

Market Cap: US$14.5b

Engages in the development, manufacture, marketing, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Lavoro

Market Cap: US$348.6m

Operates as an agricultural inputs retailer.

Primoris Services

Market Cap: US$3.1b

Provides infrastructure services primarily in the United States and Canada.

Timken

Market Cap: US$4.3b

Designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally.

Generac Holdings

Market Cap: US$6.6b

Designs, manufactures, and distributes energy technology products and solution worldwide.

Fluor

Market Cap: US$5.6b

Provides engineering, procurement, and construction (EPC); fabrication and modularization; and project management services worldwide.