Swedish Undervalued based on future growth

Castellum

Market Cap: SEK 51.6b

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 26.0b

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

Billerud

Market Cap: SEK 22.4b

Provides paper and packaging materials worldwide.

Peab

Market Cap: SEK 21.5b

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

Hacksaw

Market Cap: SEK 20.8b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

Alleima

Market Cap: SEK 20.6b

Manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally.

Betsson

Market Cap: SEK 19.9b

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.

Afry

Market Cap: SEK 18.0b

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.

AB Electrolux

Market Cap: SEK 16.0b

Develops, manufactures, and sells household appliances.

Nyfosa

Market Cap: SEK 15.9b

A transaction-intensive real estate company, invests, manages, develops, and sells properties in Sweden, Norway, and Finland.

New Wave Group

Market Cap: SEK 15.1b

Designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Central Europe, rest of Nordiac countries, Southern Europe, and internationally.

Gränges

Market Cap: SEK 14.8b

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.

TF Bank

Market Cap: SEK 11.3b

A digital bank, provides consumer banking services and e-commerce solutions through a proprietary IT platform in Sweden .

FastPartner

Market Cap: SEK 9.4b

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

Arjo

Market Cap: SEK 8.5b

Develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and Pacific.

Hoist Finance

Market Cap: SEK 8.4b

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

JM

Market Cap: SEK 8.4b

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

Better Collective

Market Cap: SEK 6.4b

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

Instalco

Market Cap: SEK 6.2b

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

Alligo

Market Cap: SEK 6.1b

Engages in the provision of workwear, personal protective equipment, tools, and consumables in Finland, Sweden, and Norway.

Stendörren Fastigheter

Market Cap: SEK 6.1b

A real estate company, engages in managing, developing, and acquiring properties and building rights in logistics, warehouse, and light industry primarily located in Greater Stockholm, Västerås, and Mälardalen.

Hanza

Market Cap: SEK 5.7b

Provides manufacturing solutions.

ITAB Shop Concept

Market Cap: SEK 4.8b

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

Enity Holding

Market Cap: SEK 4.6b

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

Coor Service Management Holding

Market Cap: SEK 4.3b

Provides facility management services in Sweden, Norway, Denmark, and Finland.

Meko

Market Cap: SEK 4.2b

Operates in the automotive aftermarket business in Sweden, Norway, Denmark, Finland, Poland, Estonia, Latvia, and Lithuania.

Prisma Properties

Market Cap: SEK 4.0b

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

Fastighets AB Trianon

Market Cap: SEK 3.8b

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

Hexatronic Group

Market Cap: SEK 3.6b

Develops, manufactures, markets, and sells fiber communication solutions in Sweden, the United States, Germany, the United Kingdom, 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.

Byggmax Group

Market Cap: SEK 2.9b

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

Green Landscaping Group

Market Cap: SEK 2.4b

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

Catella

Market Cap: SEK 2.3b

A real estate investment firm.

CTT Systems

Market Cap: SEK 2.4b

Provides humidity control systems for aircraft in Sweden, Denmark, France, the United States, and internationally.

Absolent Air Care Group

Market Cap: SEK 2.3b

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

Humana

Market Cap: SEK 2.3b

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