U.S. Capital Goods Potentially Undervalued Companies

Chemring Group

Market Cap: US$1.5b

Provides countermeasures, sensors, information, and energetic products in the United States, the United Kingdom, Europe, the Asia pacific, and internationally.

China Railway Group

Market Cap: US$128.0b

Operates as a multi-functional integrated construction company in Mainland China and internationally.

SMC

Market Cap: US$2.8t

Manufactures and sells automatic control equipment worldwide.

Lisi

Market Cap: US$1.8b

Designs and produces assembly and component solutions for the aerospace, automotive, and medical sectors in France and internationally.

Metso Oyj

Market Cap: US$9.3b

Provides technologies, end-to-end solutions, and services for the aggregates, minerals processing, and metals refining industries in Europe, North and Central America, South America, the Asia Pacific, Greater China, Africa, the Middle East, and India.

BOC Aviation

Market Cap: US$47.9b

Operates as an aircraft operating leasing company in Mainland China, Hong Kong, Macau, Taiwan, rest of the Asia Pacific, the Americas, Europe, the Middle East, and Africa.

Konecranes

Market Cap: US$5.7b

Manufactures, sells, and services material handling products in Europe, the Middle East, Africa, the Americas, the Asia-Pacific, and internationally.

Babcock International Group

Market Cap: US$5.4b

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.

Reunert

Market Cap: US$8.6b

Operates in the fields of electrical engineering, information communication technologies (ICT), and applied electronics in South Africa, rest of Africa, the United States, Australia, Asia, and Europe.

Yangzijiang Shipbuilding (Holdings)

Market Cap: US$12.0b

An investment holding company, engages in the shipbuilding activities in the Greater China, Canada, Japan, Italy, Greece, Germany, Bulgaria, United Kingdom, Singapore, and internationally.

Sojitz

Market Cap: US$829.3b

Operates as a general trading company that engages in various business activities worldwide.

Fluence Energy

Market Cap: US$1.2b

Through its subsidiaries, provides energy storage and optimization software for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

IMCD

Market Cap: US$5.4b

Distributes, markets, and sells specialty chemicals and ingredients in the Netherlands, rest of Europe, the Middle East, Africa, North America, South America, and the Asia-Pacific.

Horizon Construction Development

Market Cap: US$3.9b

Operates as an investment holding company that provides equipment operation services in the People's Republic of China.

flooidCX

Market Cap: US$74.0

Operates as the licensee for harvested and thermal electrical energy collection and transmission (EET), photon lighting systems, photonic and photovoltaic energy harvesting, and thermal waste to energy conversion.

Namura Shipbuilding

Market Cap: US$227.2b

Engages in the manufacture and sale of ships, machinery, and steel structures worldwide.

Sinotruk (Hong Kong)

Market Cap: US$62.6b

An investment holding company, engages in the research, development, manufacture, and sale of heavy-duty trucks (HDT), medium-heavy duty trucks, light duty trucks (LDT), buses, and related parts and components in Mainland China and internationally.

FLSmidth

Market Cap: US$24.3b

Provides flowsheet technology and service solutions for the mining and cement industries in Denmark, the United States of America, Canada, Chile, Brazil, Peru, Australia, North and South America, Europe, the Middle East, Africa, and Asia.

Reece

Market Cap: US$6.7b

Engages in the distribution of plumbing, waterworks, heating, ventilation, air-conditioning, and refrigeration products to commercial and residential customers in Australia, New Zealand, and the United States.

Dürr

Market Cap: US$1.4b

Operates as a mechanical and plant engineering company worldwide.

Bunzl

Market Cap: US$8.3b

Operates as a distribution and services company in the North America, Continental Europe, the United Kingdom, Ireland, and internationally.

CIMC Enric Holdings

Market Cap: US$14.2b

Provides transportation, storage, and processing equipment and services for the clean energy, chemicals, environmental, and liquid food sectors worldwide.

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.

Strabag

Market Cap: US$8.7b

Engages in the construction projects in the fields of transportation infrastructures, building construction, and civil engineering.

Krones

Market Cap: US$3.7b

Engages in the planning, development, and manufacture of machines and lines for the production, filling, and packaging technology for the food and beverage industry in Germany and internationally.

MARUKA FURUSATO

Market Cap: US$52.4b

Engages in the machinery and tools, construction machinery and materials, and IoT businesses in Japan.

Juki

Market Cap: US$10.8b

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

Reko International Group

Market Cap: US$16.6m

Designs and manufactures various engineered products and services for original equipment manufacturers in Canada and the United States.

Italian-Thai Development

Market Cap: US$3.3b

Engages in the construction business in Thailand, India, Bangladesh, and internationally.

AKVA group

Market Cap: US$2.4b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

Aboitiz Equity Ventures

Market Cap: US$188.8b

Through its subsidiaries, engages in power, banking and financial services, food, infrastructure, land, and data science and artificial intelligence businesses in the Philippines and rest of Asia.

Amada

Market Cap: US$385.3b

Manufactures and sells metalworking machinery, software, and peripheral equipment in Japan, North America, Europe, Asia, and internationally.

Sumitomo Heavy Industries

Market Cap: US$447.2b

Manufactures and sells general machinery worldwide.

Sansei Technologies

Market Cap: US$25.2b

Plans, designs, manufactures, installs, repairs, and maintains amusement rides, stage equipment, elevators, and other designed equipment in Japan and internationally.

Palfinger

Market Cap: US$959.6m

Produces and sells crane and lifting solutions in Austria and internationally.

DMCI Holdings

Market Cap: US$138.4b

Through its subsidiaries, engages in the general construction, coal and nickel mining, power generation, real estate development, water concession, and manufacturing businesses in the Philippines and internationally.