U.S. Capital Goods Potentially Undervalued Companies

Rush Enterprises

Market Cap: US$4.5b

Through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada.

Kennametal

Market Cap: US$1.6b

Engages in development and application of tungsten carbides, ceramics, and hard materials and solutions worldwide.

MTU Aero Engines

Market Cap: US$20.5b

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.

Cummins

Market Cap: US$55.4b

Offers various power solutions worldwide.

ChargePoint Holdings

Market Cap: US$268.0m

Provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe.

Bidvest Group

Market Cap: US$80.5b

An investment holding company, engages in services, trading, and distribution businesses in South Africa and internationally.

Ag Growth International

Market Cap: US$791.7m

Manufactures and distributes equipment for bulk agriculture commodities worldwide.

OC Oerlikon

Market Cap: US$957.9m

Provides surface engineering, polymer processing, and additive manufacturing services in Europe, the Americas, and the Asia-Pacific.

Lockheed Martin

Market Cap: US$106.5b

An aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide.

Cadeler

Market Cap: US$18.5b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

MTU Aero Engines

Market Cap: US$20.5b

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.

Vestas Wind Systems

Market Cap: US$126.8b

Engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally.

Astra International

Market Cap: US$222.7t

Operates in the automotive, financial services, heavy equipment, mining, construction, energy, agri, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Melrose Industries

Market Cap: US$7.4b

Designs and delivers aerospace components and systems for civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally.

AB Volvo

Market Cap: US$591.3b

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

Daimler Truck Holding

Market Cap: US$30.8b

Manufactures and sells light, medium- and heavy-duty trucks and buses in Europe, North America, Asia, Latin America, and internationally.

MINEBEA MITSUMI

Market Cap: US$1.0t

Manufactures and supplies machined components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

EnerSys

Market Cap: US$3.8b

Engages in the provision of stored energy solutions for industrial applications worldwide.

Shimmick

Market Cap: US$110.1m

Provides turnkey infrastructure solutions to the water, energy, climate, and transportation markets in the United States.

Fortune Brands Innovations

Market Cap: US$7.1b

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.

Twin Disc

Market Cap: US$178.2m

Engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally.

Eiffage

Market Cap: US$9.9b

Engages in the construction and concessions industries in France, rest of Europe, and internationally.

Azelis Group

Market Cap: US$3.1b

Engages in the distribution and sale of specialty chemicals and food ingredients.

Fluor

Market Cap: US$6.7b

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

GBLT

Market Cap: US$113.0

Through its subsidiaries, manufactures and distributes mobile power products in Germany, European Union, and internationally.

KanamotoLtd

Market Cap: US$94.4b

Engages in the construction equipment rental business in Japan and internationally.

Varta

Market Cap: US$764.6m

Through its subsidiaries, engages in the research, development, production, and sale of micro and household batteries, large-format batteries, battery solutions, and energy storage systems in Europe, Asia, North America, and internationally.

Monadelphous Group

Market Cap: US$1.7b

An engineering group, engages in the provision of construction, maintenance, and industrial services to resources, energy, and infrastructure sectors in Australia, China, Mongolia, Papua New Guinea, China, the Philippines, and internationally.

Juki

Market Cap: US$13.3b

Manufactures and sells industrial and household sewing machines, and industrial equipment in Japan, China, rest of Asia, the Americas, Europe, and internationally.

Tekfen Holding Anonim Sirketi

Market Cap: US$19.4b

Engages in engineering and contracting, agriculture, and investment businesses in Turkey, CIS, the Middle Eastern countries, and internationally.

Greentown Management Holdings

Market Cap: US$6.2b

An investment holding company, provides project management services in the People’s Republic of China.

Klöckner & Co

Market Cap: US$617.5m

Distributes steel and metal products in Germany, Switzerland, France, the united states, and internationally.

MBH

Market Cap: US$12.3k

An investment holding company, operates in the education, construction service, and leisure sectors in the United Kingdom, Oceania, Asia, and North America.

HC Group

Market Cap: US$273.8m

An investment holding company, provides business information services through online platforms in the People’s Republic of China.

Grupo Mexicano de Desarrollo

Market Cap: US$1.6b

Develops and operates infrastructure projects in Mexico.

Mitani

Market Cap: US$181.2b

Engages in the information system, construction, energy, and other businesses in Japan and internationally.