French Undervalued based on future growth

Air France-KLM

Market Cap: €3.2b

Provides passenger and cargo transportation services worldwide.

Valeo

Market Cap: €3.1b

A technology company, designs, produces, and sells products and systems for the automotive markets in France, other European countries, Africa, North America, South America, and Asia.

Teleperformance

Market Cap: €3.0b

Operates as a digital business services company in France and internationally.

Verallia Société Anonyme

Market Cap: €2.8b

Manufactures and sells glass packaging products for beverages and food products worldwide.

SEB

Market Cap: €2.8b

Designs, manufactures, and markets small domestic equipment in Western Europe, rest of Europe, the Middle East, Africa, North and South America, China, and rest of Asia.

Tikehau Capital

Market Cap: €2.7b

An alternative asset management group with 46.1 billion euro of assets under management (as of 30 June 2024).

OPmobility

Market Cap: €2.4b

Designs and produces intelligent exterior systems, customized complex modules, lighting systems, energy storage systems, and electrification solutions for all mobility players in Europe, North America, China, rest of Asia, South America, the Middle East, and Africa.

STEF

Market Cap: €1.6b

Provides temperature-controlled road transport and logistics services for agri-food industry, and out-of-home foodservices.

Etablissements Maurel & Prom

Market Cap: €1.4b

Engages in exploration and production of oil and gas, and hydrocarbons in Gabon, Tanzania, Angola, and Venezuela.

Manitou BF

Market Cap: €851.5m

Engages in the development, manufacture, and distribution of equipment and services in France, Southern Europe, Northern Europe, the Americas, Asia, the Pacific, Africa, and the Middle East.

Savencia

Market Cap: €795.0m

Produces, distributes, and markets dairy and cheese products in France, the Rest of Europe, and internationally.

Mersen

Market Cap: €630.6m

Manufactures and sells electrical power products and advanced materials in France, North America, rest of Europe, the Asia-Pacific, and internationally.

X-FAB Silicon Foundries

Market Cap: €560.4m

Develops, produces, and sells analog/mixed-signal IC, micro-electro-mechanical systems, and silicon carbide products for automotive, medical, industrial, communication, and consumer sectors in the Europe, the United States, Asia, and internationally.

IDI

Market Cap: €520.8m

A private equity firm specializing in leveraged buyouts, expansion capital, middle market, growth capital, acquisition of significant holdings in listed small and medium companies and secondary private equity portfolios, mezzanine financing, loans senior to senior debt, mergers and acquisitions, LBO, development capital, discounted leveraged buyouts loans in mature companies and through co-investments in pre-IPO financing.

Quadient

Market Cap: €513.1m

Provides digital, mail, and lockers for customers through digital and physical channels in North America, France, Benelux, the United Kingdom, Ireland and Germany, Austria, Italy, Switzerland, and internationally.

SMCP

Market Cap: €495.6m

Operates as a ready-to-wear and accessories retail company in France and internationally.

Jacquet Metals

Market Cap: €489.2m

Engages in the storage and distribution of special metals in Germany, France, Italy, North America, Spain, the Netherlands, rest of Europe, and internationally.

Séché Environnement

Market Cap: €452.7m

Engages in the management, recovery, and treatment of waste products for industrial and corporate customers, and local authorities in France and internationally.

Samse

Market Cap: €429.6m

Distributes construction materials and tools in France.

TFF Group

Market Cap: €370.7m

Engages in the wine and spirits ageing in the United States, Europe, France, Asia, and internationally.

Bonduelle

Market Cap: €355.3m

Engages in the provision of plant-based food in Europe and internationally.

Aramis Group SAS

Market Cap: €353.2m

Engages in the online sale of used vehicles in France, Belgium, the United Kingdom, Austria, Italy, and Spain.

EXEL Industries

Market Cap: €269.9m

Engages in the manufacture and sale of agricultural spraying equipment in France and internationally.

LNA Santé

Market Cap: €248.3m

Engages in the management and operation of healthcare facilities and medical residences for able-bodied, semi-dependent, or dependent elderly people in France.

Hexaom

Market Cap: €237.8m

Engages in the land and real estate development, construction, and renovation businesses in France.

GROUPE SFPI

Market Cap: €158.6m

Designs, manufactures, and markets equipment for the safety industry in Europe and internationally.

Catering International & Services Société Anonyme

Market Cap: €109.5m

Provides catering, accommodation, and facilities and utility management services.

ADLPartner

Market Cap: €105.7m

Provides marketing solutions in France and internationally.

Fleury Michon

Market Cap: €104.2m

Produces and sells food products in France and internationally.

Delfingen Société Anonyme

Market Cap: €90.1m

Provides protection and routing systems for electrical networks and on-board fluid transfer solutions to industrial and automotive sectors internationally.

Omer-Decugis & Cie

Market Cap: €81.2m

Produces and sells fresh fruits and vegetables in France and internationally.

Bilendi

Market Cap: €66.6m

Provides services for market research and customer engagement and loyalty services in France, United Kingdom, Germany, Switzerland, Spain, Italy, Morocco, Denmark, Sweden, Finland, Belgium, the Netherlands, and Mauritius.

Abéo

Market Cap: €65.2m

Engages in the design, manufacture, and distribution of sports and leisure equipment in France and internationally.

Mr.Bricolage

Market Cap: €57.1m

Engages in retailing of renovation, home, and garden decoration products.

Icape Holding

Market Cap: €49.7m

Engages in the manufacture, distribution, and sale of printed circuit boards (PCBs) and customized technical parts worldwide.

Hopscotch Global PR Group

Market Cap: €37.1m

Operates in public relations (PR) business in France and internationally.