U.S. Capital Goods Potentially Undervalued Companies

FMS Enterprises Migun

Market Cap: US$1.4b

Manufactures and sells ballistic protection raw materials and products worldwide.

Obrascón Huarte Lain

Market Cap: US$415.4m

Engages in the construction and concession businesses in the United States, Canada, Mexico, Chile, Peru, Colombia, Spain, Central and Eastern Europe, Northern Europe, and internationally.

Japan Pulp and Paper

Market Cap: US$74.7b

Engages in the manufacture, import, export, distribution, wholesale, and sale of paper, paperboards, pulp, and paper-related products in Japan, Europe, Asia, Oceania, North America, and internationally.

Sime Darby Berhad

Market Cap: US$11.0b

An investment holding company, operates in the industrial, motors, and other businesses in Malaysia, China, Australia, and internationally.

Signify

Market Cap: US$2.7b

Provides lighting products, systems, and services in Europe, the Americas, and internationally.

AB Volvo

Market Cap: US$563.3b

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

Lonking Holdings

Market Cap: US$11.8b

An investment holding company, manufactures and distributes wheel loaders, road rollers, excavators, forklifts, and other construction machinery in Mainland China and internationally.

Valmet Oyj

Market Cap: US$5.4b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, South America, China, Europe, the Middle East, Africa, and the Asia Pacific.

China Shuifa Singyes Energy Holdings

Market Cap: US$718.5m

An investment holding company, designs, manufactures, supplies, and installs conventional curtain walls in the People’s Republic of China.

Valmet Oyj

Market Cap: US$5.4b

Develops and supplies process technologies, automation, and services for the pulp, paper, and energy industries in North America, South America, China, Europe, the Middle East, Africa, and the Asia Pacific.

Senior

Market Cap: US$792.8m

Designs, manufactures, and sells high-technology components and systems for the original equipment manufacturers in the aerospace, defense, land vehicle, and power and energy markets in North America, the United Kingdom, South Africa, India, China, and internationally.

Forbo Holding

Market Cap: US$1.1b

Engages in the production and sale floor coverings, building and construction adhesives, and power transmission and conveyor technology worldwide.

Metallurgical Corporation of China

Market Cap: US$72.5b

Engages in engineering contracting, resource development, specialty businesses, integrated real estate, and other businesses in China.

Traton

Market Cap: US$14.9b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

AB SKF

Market Cap: US$108.6b

Designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide.

Grupo Rotoplas. de

Market Cap: US$6.7b

Manufactures, purchases, sells, and installs plastic containers and accessories for water storage, conduction, and improvement solutions in Mexico, Argentina, the United States and internationally.

NCC

Market Cap: US$19.1b

Operates as a construction company in Sweden, Norway, Denmark, and Finland.

Sulzer

Market Cap: US$4.9b

Develops and sells products and services for fluid engineering and chemical processing applications worldwide.

Signify

Market Cap: US$2.8b

Provides lighting products, systems, and services in Europe, the Americas, and internationally.

Espey Mfg. & Electronics

Market Cap: US$129.8m

A power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States.

McGrath RentCorp

Market Cap: US$3.1b

Operates as a business-to-business rental company in the United States and internationally.

Astronics

Market Cap: US$1.4b

Through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally.

Daikin IndustriesLtd

Market Cap: US$5.4t

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

Siemens

Market Cap: US$175.5b

A technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia.

Mueller Industries

Market Cap: US$10.8b

Manufactures and sells copper, brass, and aluminum products in the United States, the United Kingdom, Canada, Asia and the Middle East, and Mexico.

Ilustrato Pictures International

Market Cap: US$1.9m

Through its subsidiaries, operates in the public safety technology, engineering, industrial, and manufacturing sectors in New York, London, and Dubai.

Nextracker

Market Cap: US$10.2b

Provides solar tracker technologies and solutions for utility-scale and distributed generation solar applications in the United States and internationally.

Jardine Cycle & Carriage

Market Cap: US$10.9b

An investment holding company, engages in providing the financial services, heavy equipment, mining, construction and energy, agribusiness, infrastructure and logistics, information technology, and property businesses in Indonesia, Singapore, and Malaysia.

Tecnoglass

Market Cap: US$3.4b

Manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally.

Pioneer Power Solutions

Market Cap: US$40.7m

Pioneer Power Solutions, Inc., together with its subsidiaries, design, manufacture, integrate, refurbish, distribute, sell, and service electric power systems, distributed energy resources, power generation equipment, and mobile EV charging solutions.

ASSA ABLOY

Market Cap: US$380.0b

Provides door opening and access products for the institutional, commercial, and residential markets.

Keppel

Market Cap: US$15.6b

An investment holding company, engages in the infrastructure, real estate, and connectivity businesses in Singapore, China, Hong Kong, other Far East and ASEAN countries, and internationally.

Optex Systems Holdings

Market Cap: US$79.6m

Manufactures and sells optical sighting systems and assemblies primarily for the U.S.

AIRO Group Holdings

Market Cap: US$570.4m

A multi-faceted advanced Aerospace and Defense company.

Trinity Industries

Market Cap: US$2.3b

Provides railcar products and services under the TrinityRail trade name in North America.

Babcock International Group

Market Cap: US$5.5b

Engages in the design, development, manufacture, and integration of specialist systems for aerospace, defense, and security in the United Kingdom, rest of Europe, Africa, North America, Australasia, and internationally.