U.K. Undervalued based on future growth

Lion Finance Group

Market Cap: UK£4.3b

Through its subsidiaries, provides banking and financial services with focus on the Georgian and Armenian markets.

easyJet

Market Cap: UK£3.6b

Operates as a low-cost airline carrier in Europe.

Man Group

Market Cap: UK£2.9b

Man Group Limited is a publicly owned investment manager.

Pan African Resources

Market Cap: UK£2.8b

Engages in the mining, extraction, production, and sale of gold in South Africa.

Shawbrook Group

Market Cap: UK£2.6b

Through its subsidiary, Shawbrook Bank Limited, provides lending and savings products and services to private and business customers in the United Kingdom.

TBC Bank Group

Market Cap: UK£2.4b

Through its subsidiaries, provides banking, leasing, insurance, brokerage, and card processing services to corporate and individual customers in Georgia, Azerbaijan, and Uzbekistan.

Mitie Group

Market Cap: UK£2.2b

Provides facilities management and professional services in the United Kingdom and internationally.

Wizz Air Holdings

Market Cap: UK£1.5b

Engages in the provision of passenger air transportation services in Europe, Iceland, Liechtenstein, Norway, and Switzerland, the United Kingdom, and Other European countries.

Atalaya Mining Copper

Market Cap: UK£1.3b

Engages in the mineral exploration and development in Spain.

Metro Bank Holdings

Market Cap: UK£875.3m

Operates as the bank holding company for Metro Bank PLC that provides business, commercial, retail and private banking products and services in the United Kingdom.

Morgan Advanced Materials

Market Cap: UK£653.5m

Manufactures and sells various carbon and ceramic products.

Polar Capital Holdings

Market Cap: UK£596.0m

Polar Capital Holdings plc is a publicly owned investment manager.

Harworth Group

Market Cap: UK£538.2m

Operates as a land and property regeneration company in the North of England and the Midlands.

Foresight Group Holdings

Market Cap: UK£462.9m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.

DFS Furniture

Market Cap: UK£443.7m

Designs, manufactures, delivers, installs, and retails upholstered furniture in the United Kingdom and the Republic of Ireland.

Future

Market Cap: UK£436.6m

Future plc, together with its subsidiaries, publishes and distributes content for technology, gaming, sports, fashion, beauty, homes, wealth, and knowledge sectors in the United States and the United Kingdom.

Capita

Market Cap: UK£428.8m

Operates an outsourcer that supports clients across the public and private sectors in the United Kingdom and rest of Europe.

Rank Group

Market Cap: UK£427.2m

Engages in provision of gaming services in the United Kingdom, Europe, and internationally.

AltynGold

Market Cap: UK£393.6m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Elixirr International

Market Cap: UK£374.6m

Through its subsidiaries, provides management consultancy services in the United Kingdom, the United States, and internationally.

Central Asia Metals

Market Cap: UK£364.7m

Operates as a base metals producer.

PayPoint

Market Cap: UK£336.8m

Engages in the provision of payments and banking, shopping, and e-commerce services and products in the United Kingdom.

Norcros

Market Cap: UK£325.6m

Designs and supplies bathroom and kitchen products in the United Kingdom, Ireland, and South Africa.

Secure Trust Bank

Market Cap: UK£289.4m

Provides banking and financial products and services in the United Kingdom.

Next 15 Group

Market Cap: UK£283.6m

Next 15 Group plc, together with its subsidiaries, customer insight, customer delivery, customer engagement, and business transformation services in the United Kingdom, Africa, the United States, Europe, Middle East, and Africa.

Gulf Marine Services

Market Cap: UK£273.6m

Operates self-propelled self-elevating support vessels (SESVs) in the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Europe.

Sylvania Platinum

Market Cap: UK£273.1m

Engages in the retreatment of platinum group metals (PGM) bearing chrome tailings materials in South Africa.

Integrated Diagnostics Holdings

Market Cap: US$370.6m

Operates as a consumer healthcare company that provides medical diagnostics services to patients.

YouGov

Market Cap: UK£240.9m

Provides online market research services in the United Kingdom, the Americas, the Middle East, Mainland Europe, India, and the Asia Pacific.

SThree

Market Cap: UK£230.4m

Provides specialist recruitment services in the sciences, technology, engineering, and mathematics markets in the United Kingdom, Austria, Germany, Switzerland, Netherlands, Spain, Belgium, France, the United States, Dubai, Japan, and the United Arab Emirates.

ASA International Group

Market Cap: UK£228.0m

Operates as a microfinance institution in Asia and Africa.

MJ Gleeson

Market Cap: UK£227.7m

Engages in house building, and land promotion and sale businesses in the United Kingdom.

Serabi Gold

Market Cap: UK£219.6m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Vp

Market Cap: UK£213.3m

Provides equipment rental and related services in the United Kingdom and internationally.

Reach

Market Cap: UK£201.3m

Operates as commercial news publisher in the United Kingdom, rest of Europe, and internationally.

BTG Consulting

Market Cap: UK£189.9m

Begbies Traynor Group plc provides business recovery, financial advisory, and property services consultancy services in the United Kingdom.