Swedish Undervalued based on future growth

Castellum

Market Cap: SEK 52.7b

Castellum is one of the Nordic region's largest commercial real estate companies, focusing on office and logistics properties in Nordic growth cities.

Husqvarna

Market Cap: SEK 28.8b

Produces and sells outdoor power products, watering products, and lawn care power equipment.

Peab

Market Cap: SEK 22.4b

Operates as a construction and civil engineering company in Sweden, Norway, Finland, Denmark, and internationally.

Betsson

Market Cap: SEK 20.8b

Through its subsidiaries, invests in and manages online gaming business in the Nordic countries, Latin America, Western Europe, Central and Eastern Europe, Central Asia, and internationally.

Hacksaw

Market Cap: SEK 20.7b

Operates as a B2B technology platform and game development company.

Afry

Market Cap: SEK 17.8b

Provides engineering, design, and advisory services for the infrastructure, industry, and energy sectors in the Nordics, North America, South America, Asia, rest of Europe, and internationally.

Storskogen Group

Market Cap: SEK 15.8b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

Gränges

Market Cap: SEK 13.0b

Engages in the development, production, and distribution of rolled aluminum products for thermal management systems, specialty packaging, and niche applications in Asia Pacific, Europe, and North and South Americas.

FastPartner

Market Cap: SEK 10.5b

A real estate company, owns, develops, and manages residential and commercial properties in Sweden.

JM

Market Cap: SEK 8.8b

JM AB (publ) constructs, develops, and sells housing and residential areas in the Nordic region.

Platzer Fastigheter Holding

Market Cap: SEK 8.6b

Operates as a commercial real estate company in Sweden.

Hoist Finance

Market Cap: SEK 8.1b

A credit market company, engages in the loan acquisition and management operations in Europe.

Instalco

Market Cap: SEK 7.3b

Provides installation services in the electrical, heating and plumbing, ventilation, technical consulting, and industrial areas in Sweden and rest of the Nordics.

Better Collective

Market Cap: SEK 7.0b

Operates as a digital sports media company in Europe, North America, and internationally.

Resurs Holding

Market Cap: SEK 5.4b

Through its subsidiaries, engages in the provision of payment solutions and consumer loans in Sweden, Norway, Finland, and Denmark.

Alligo

Market Cap: SEK 5.4b

Offers workwear, personal protection equipment, tools, and consumables in Sweden, Norway, and Finland.

ITAB Shop Concept

Market Cap: SEK 4.5b

Develops, manufactures, sells, and installs store concepts for retail chain stores.

Enity Holding

Market Cap: SEK 4.5b

Engages in providing mortgage services to individuals and communities in Sweden, Norway, and Finland.

Intellego Technologies

Market Cap: SEK 4.4b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

Prisma Properties

Market Cap: SEK 3.9b

Owns, develops, and leases properties in Sweden, Denmark, and Norway.

Humble Group

Market Cap: SEK 3.8b

Develops, refines, and distributes fast-moving consumer products in Sweden and internationally.

Byggmax Group

Market Cap: SEK 3.4b

Sells building materials and related products for DIY projects in Sweden, Norway, and internationally.

Kambi Group

Market Cap: SEK 3.3b

Provides sports betting technology and services to the betting and gaming industry in Europe, the Americas, and internationally.

Green Landscaping Group

Market Cap: SEK 2.9b

Engages in the green space management and landscaping business in Sweden, Norway, and rest of Europe.

Catella

Market Cap: SEK 2.8b

A real estate investment firm.

Absolent Air Care Group

Market Cap: SEK 2.5b

Designs, develops, sells, installs, and maintains air filtration units.

Humana

Market Cap: SEK 2.0b

Provides individual and family care services for children and adults in Sweden, Finland, Norway, and Denmark.

Elanders

Market Cap: SEK 2.0b

A logistics company, provides supply chain, and print and packaging solutions in Sweden, Germany, the United States, Singapore, the United Kingdom, the Netherlands, India, China, Switzerland, Poland, Hungary, and internationally.

Enea

Market Cap: SEK 1.4b

Provides software products for telecom and cybersecurity industries worldwide.

Arise

Market Cap: SEK 1.3b

Operates in the renewable energy sector.

Lea Bank

Market Cap: SEK 1.2b

Provides various banking products and services in Norway, Sweden, Finland, and Spain.

Eolus Aktiebolag

Market Cap: SEK 1.1b

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Finland, the United States, Poland, Spain, and the Baltic states.

C-Rad

Market Cap: SEK 1.0b

Develops, manufactures, and sells products and systems with applications in radiotherapy for the treatment of cancer in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Gentoo Media

Market Cap: SEK 930.8m

An iGaming technology company, together with its subsidiaries, provides solutions, products, and services to iGaming operators in Nordic countries, other European countries, and internationally.

Prevas

Market Cap: SEK 912.3m

Provides technical consultancy services in Sweden and internationally.

Tobii

Market Cap: SEK 836.3m

Develops and sells eye-tracking technology and solutions in Sweden, Europe, Middle East, Africa, the United States, and internationally.