Spanish Undervalued based on future growth

Repsol

Market Cap: €14.1b

Operates as a multi-e energy company in Spain, Peru, the United States, Portugal, and internationally.

MERLIN Properties SOCIMI

Market Cap: €6.2b

We are the leading real estate company on the Iberian Peninsula, listed on both the Spanish (IBEX-35) and Portuguese stock exchanges.

Acerinox

Market Cap: €2.7b

Manufactures, process, and markets stainless steel products in Spain, the United States, Africa, Asia, Rest of Europe, and internationally.

Gestamp Automoción

Market Cap: €1.8b

Designs, develops, and manufactures metal components for the automotive industry in Western Europe, Eastern Europe, Mercosur, North America, and Asia.

Prosegur Cash

Market Cap: €1.2b

Provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management for financial institutions, retail establishments, business, government agencies, central banks, mints, and jewellery stores in Europe, LATAM, and internationally.

eDreams ODIGEO

Market Cap: €946.3m

Operates as an online travel company in France, Southern Europe, Northern Europe, and internationally.

Cox ABG Group

Market Cap: €719.7m

Operates as an integrated utility of water and energy company.

ENCE Energía y Celulosa

Market Cap: €693.5m

Produces and sells eucalyptus hardwood pulp and renewable energy in Spain, Germany, Poland, Italy, the Netherlands, the United Kingdom, Greece, Turkey, and internationally.

Tubacex

Market Cap: €499.6m

Engages in the manufacturing and sale of stainless steel and nickel tubes in Spain and internationally.

General de Alquiler de Maquinaria

Market Cap: €123.8m

Primarily engages in the equipment rental business in Spain, Portugal, Latam, and internationally.

Alquiber Quality

Market Cap: €66.5m

Provides industrial and commercial vehicle rental services for SMEs and large companies in Spain.

CLERHP Estructuras

Market Cap: €50.1m

Engages in structural engineering and construction activities in Spain and internationally.

Adolfo Domínguez

Market Cap: €43.6m

Engages in the design, manufacture, acquisition, sale, marketing, retail, import, and export of ready-made garments, footwear, handbags and accessories, household linen, furniture, and decorative objects.

Desarrollos Especiales de Sistemas de Anclaje

Market Cap: €27.2m

Desarrollos Especiales de Sistemas de Anclaje, S.A.