French Undervalued based on future growth

Unibail-Rodamco-Westfield

Market Cap: €12.9b

Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.

Ayvens

Market Cap: €8.8b

Provides service leasing and vehicle fleet management services in the France, Rest of Europe, Latin America, Asia, and internationally.

Vallourec

Market Cap: €4.0b

Through its subsidiaries, provides tubular solutions for the oil and gas, industry, and new energies markets in Europe, North America, South America, Asia, the Middle East, and internationally.

Arkema

Market Cap: €3.9b

Manufactures and sells specialty materials in Europe, the United States, Canada, Mexico, China, Hong Kong, Taiwan, and internationally.

Teleperformance

Market Cap: €3.4b

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

Valeo

Market Cap: €2.9b

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.

Verallia Société Anonyme

Market Cap: €2.7b

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

Tikehau Capital

Market Cap: €2.6b

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

SEB

Market Cap: €2.6b

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.

Air France-KLM

Market Cap: €2.5b

Provides passenger and cargo transportation services worldwide.

OPmobility

Market Cap: €2.0b

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.

Imerys

Market Cap: €1.8b

Engages in the supply of specialty minerals for various industries across Europe, the Middle East, Africa, Asia Pacific, and America.

STEF

Market Cap: €1.5b

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

Ipsos

Market Cap: €1.4b

Through its subsidiaries, provides survey-based research services for companies and institutions in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Derichebourg

Market Cap: €902.4m

Provides environmental services to businesses, and local and municipal authorities.

Savencia

Market Cap: €771.7m

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

Manitou BF

Market Cap: €663.6m

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.

X-FAB Silicon Foundries

Market Cap: €616.3m

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.

Kaufman & Broad

Market Cap: €553.1m

Operates as a property developer and builder in France.

Aramis Group SAS

Market Cap: €522.0m

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

Séché Environnement

Market Cap: €507.1m

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

Mersen

Market Cap: €501.5m

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

IDI

Market Cap: €486.6m

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.

SMCP

Market Cap: €454.7m

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

EPC Groupe

Market Cap: €433.0m

Engages in the manufacture, storage, and distribution of explosives in Europe, Africa, Asia Pacific, and the Americas.

Samse

Market Cap: €422.9m

Distributes building materials and tools in France.

Jacquet Metals

Market Cap: €355.6m

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

Bonduelle

Market Cap: €273.0m

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

LNA Santé

Market Cap: €244.2m

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: €207.6m

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

Guerbet

Market Cap: €186.0m

Engages in the development and marketing of contrast media products, delivery systems, medical devices, and related solutions.

GROUPE SFPI

Market Cap: €162.3m

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

Fleury Michon

Market Cap: €105.7m

Produces and sells food products in France and internationally.

Catering International & Services Société Anonyme

Market Cap: €99.7m

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

ADLPartner

Market Cap: €85.4m

Provides marketing solutions in France and internationally.

Bilendi

Market Cap: €82.9m

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.