U.S. Capital Goods Potentially Undervalued Companies

Guoco Group

Market Cap: US$22.7b

An investment holding company, engages in the principal investment, property investment and development, hospitality and leisure, and financial service businesses in Hong Kong, the People’s Republic of China, the United Kingdom, Continental Europe, Singapore, Australasia, and internationally.

Palfinger

Market Cap: US$959.6m

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

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.

Amada

Market Cap: US$385.3b

Manufactures, sells, leases, repairs, maintains, checks, and inspects 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.

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 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.

Cargotec

Market Cap: US$3.0b

Provides smart and on road load-handling solutions and services in Finland.

MARUKA FURUSATO

Market Cap: US$52.4b

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

Danieli & C. Officine Meccaniche

Market Cap: US$1.7b

Designs, builds, and sells plants for the iron and steel industry in Europe, Russia, the Middle East, the Americas, and South East Asia.

Fuji

Market Cap: US$202.4b

Manufactures and sells machines and machine tools in Japan.

Shimizu

Market Cap: US$680.5b

Engages in the construction, development, engineering, and life cycle valuation businesses in Japan and internationally.

NORMA Group

Market Cap: US$463.3m

Manufactures and sells engineered joining technology solutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

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.

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.

Italian-Thai Development

Market Cap: US$3.3b

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

Spirit AeroSystems Holdings

Market Cap: US$4.4b

Engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide.

IMI

Market Cap: US$4.8b

An engineering company, designs, manufactures, and services engineering products in the United Kingdom, Germany, rest of Europe, the United States, rest of the Americas, China, rest of the Asia Pacific, the Middle East, and Africa.

ATS

Market Cap: US$3.4b

Provides automation solutions worldwide.

Rolls-Royce Holdings

Market Cap: US$69.9b

Develops and delivers mission-critical power systems in the United Kingdom and internationally.

Luxfer Holdings

Market Cap: US$297.8m

Provides high-performance materials, components, and high-pressure gas containment devices for defense, first response and healthcare, transportation, and general industrial applications.

JGC Holdings

Market Cap: US$278.2b

Provides engineering, procurement, and construction services.

Stabilus

Market Cap: US$599.0m

Manufactures and sells gas springs, dampers, electromechanical damper opening systems, vibration isolation products, and industrial components in Europe, the Middle East, Africa, North and South America, the Asia-Pacific, and internationally.

China Communications Services

Market Cap: US$30.2b

Together with its subsidiaries provides telecommunications support services worldwide.

NKT

Market Cap: US$28.6b

Designs, manufactures, and installs low, medium, and high voltage power cable solutions in Denmark.

Hammond Manufacturing

Market Cap: US$100.5m

Designs, manufactures, and sells electrical and electronic components in Canada, the United States, and internationally.

Plug Power

Market Cap: US$841.1m

Develops hydrogen fuel cells product solutions in North America, Europe, Asia, and internationally.

Beam Global

Market Cap: US$25.7m

A clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions in the United States and Romania.

Dialight

Market Cap: US$44.6m

Primarily develops, manufactures, and supplies LED lighting solutions for use in hazardous and industrial applications in North America, Europe, the Middle East, Africa, and internationally.

Kingspan Group

Market Cap: US$13.5b

Provides insulation and building envelope solutions in Western and Southern Europe, Central and Northern Europe, the Americas, and internationally.

CITIC

Market Cap: US$290.3b

Operates in the financial services, advanced intelligent manufacturing, advanced materials, consumption, and urbanization businesses in the Mainland of China, Hong Kong, Macau, Taiwan, and internationally.

Velan

Market Cap: US$345.6m

Designs, manufactures, and markets industrial valves worldwide.

Asia Pacific Wire & Cable

Market Cap: US$32.0m

Through its subsidiaries, manufactures and distributes enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People’s Republic of China, Hong Kong, and the Asia Pacific region.

Ashtead Group

Market Cap: US$18.3b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

OSG

Market Cap: US$133.0b

Manufactures and sells cutting tools in Japan, the Americas, Europe, Africa, and Asia.

Aida Engineering

Market Cap: US$53.3b

Manufactures and sells press machines, auto-processing lines, industrial robots, auto-conveyers, and dies in Japan, China, rest of Asia, the Americas, and Europe.