German Undervalued based on future growth

Vonovia

Market Cap: €20.9b

Operates as an integrated residential real estate company in Europe.

Traton

Market Cap: €15.9b

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.

Deutsche Lufthansa

Market Cap: €10.7b

Operates as an aviation company in Germany and internationally.

thyssenkrupp

Market Cap: €6.0b

Provides industrial and technology solutions and services in Germany and internationally.

TUI

Market Cap: €4.7b

Provides tourism services internationally.

Ströer SE KGaA

Market Cap: €2.1b

Provides out-of-home (OOH) media and digital out-of-home advertising services in Germany and internationally.

Wacker Neuson

Market Cap: €1.7b

Manufactures and distributes light and compact equipment in Germany, Austria, the United States, and internationally.

DEUTZ

Market Cap: €1.4b

Develops, manufactures, and sells diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

Wüstenrot & Württembergische

Market Cap: €1.4b

Provides insurance products and services in Germany.

Nagarro

Market Cap: €935.8m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.

TeamViewer

Market Cap: €893.9m

Provides remote connectivity solutions worldwide.

JOST Werke

Market Cap: €827.0m

Manufactures and supplies safety-critical systems for the commercial vehicle industry in Germany, Europe, North America, Asia, the Pacific, and Africa.

SAF-Holland

Market Cap: €724.9m

Manufactures and sells chassis-related assemblies and components for trailers, trucks, semi-trailers, and buses.

Grenke

Market Cap: €680.3m

Provides financial services to small and medium-sized (SME) enterprises in Germany, France, Italy, and internationally.

Heidelberger Druckmaschinen

Market Cap: €597.7m

Manufactures, sells, and deals in printing presses and other print media industry products in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Energiekontor

Market Cap: €522.4m

A project developer, engages in the planning, construction, and operation of wind and solar parks in Germany, Portugal, Scotland, and the united States.

ProCredit Holding

Market Cap: €504.2m

Provides commercial banking products and services for small and medium enterprises and private customers in Europe, South America, and Germany.

Stabilus

Market Cap: €502.6m

Engages in the development, production, and distribution of gas springs, dampers, electromechanical damper opening systems, vibration isolation products, and industrial components in Germany, other European countries, the Middle East, Africa, North America, South America, the Asia-Pacific, and internationally.

Medios

Market Cap: €384.1m

Supplies specialty pharmaceutical drugs primarily in Germany.

BAUER

Market Cap: €234.6m

Provides services, equipment, and products related to ground and groundwater in Germany, Europe, the Middle East, the Asia Pacific, the Americas., and Africa.

Amadeus FiRe

Market Cap: €227.6m

Provides personnel and training services in Germany.

Angler Gaming

Market Cap: €226.5m

Invests in companies that offer gaming services through the internet in Malta.

Steyr Motors

Market Cap: €222.6m

Engages in manufacturing and selling diesel engines for commercial and military vehicles worldwide.

HMS Bergbau

Market Cap: €215.3m

Engages in trading and distributing coal and other energy raw materials to energy producers, cement manufacturers, and industrial consumers worldwide.

Eleving Group

Market Cap: €197.9m

Provides vehicle and consumer finance services in Europe, Africa, and internationally.

All for One Group

Market Cap: €195.5m

Provides business software solutions for SAP, Microsoft, and IBM primarily in Germany, Switzerland, Austria, Poland, Luxembourg, and internationally.

H&R GmbH KGaA

Market Cap: €159.7m

Engages in the manufacture and sale of chemical-pharmaceutical raw materials and injection molded precision plastic parts in Europe, Africa, Asia, and internationally.

Gesco

Market Cap: €155.3m

Operates in the process, resource, healthcare, and infrastructure technology sectors in Germany, rest of Europe, the United States, and internationally.

ABO Energy GmbH KGaA

Market Cap: €112.0m

Develops renewable energy projects in Germany and internationally.

Platform Group

Market Cap: €111.1m

A software company, operates online platforms for B2B and B2C customers.

LIMES Schlosskliniken

Market Cap: €110.4m

Operates private clinics for psychiatry, psychotherapy, and psychosomatics services in Germany, Switzerland, and Liechtenstein.

Edel SE KGaA

Market Cap: €97.0m

Operates as an independent music company in Europe.

Grammer

Market Cap: €93.9m

Engages in the development, production, and sale of components and systems for automotive interiors worldwide.

PWO

Market Cap: €91.9m

Develops, produces, and sells metal components and systems for the mobility industry in Germany, Czechia, Canada, Mexico, Serbia, and China.

Ringmetall

Market Cap: €80.8m

Develops, produces, and markets packaging solutions for industrial drums in Germany and internationally.

ad pepper media International

Market Cap: €66.5m

Provides performance marketing services in Germany, the United Kingdom, Spain, Switzerland, France, Italy, and the Netherlands.