Swedish Undervalued based on future growth

Investor

Market Cap: SEK 865.2b

A private equity firm specializing in mature, middle market, buyouts and growth capital investments.

Volvo Car AB (publ.)

Market Cap: SEK 54.0b

Designs, develops, manufactures, markets, and sells cars in Sweden and internationally.

Betsson

Market Cap: SEK 21.6b

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 18.1b

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.

FastPartner

Market Cap: SEK 9.8b

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

JM

Market Cap: SEK 9.8b

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

Norion Bank

Market Cap: SEK 8.1b

Provides financial solutions for medium-sized corporates and real estate companies, merchants, and private individuals in Sweden, Germany, Norway, Denmark, Finland, and internationally.

AcadeMedia

Market Cap: SEK 7.9b

Operates as an independent education provider in Sweden, Norway, the Netherlands, and Germany.

TF Bank

Market Cap: SEK 7.6b

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

Synsam

Market Cap: SEK 6.6b

Operates in the optical retail and eye health sector in the Nordic Region.

ITAB Shop Concept

Market Cap: SEK 6.2b

Provides solution and store design, customized concept fittings, checkouts, consumer flow solutions, professional lighting systems, and digitally interactive solutions for the physical stores.

Alligo

Market Cap: SEK 6.0b

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

Hexatronic Group

Market Cap: SEK 5.6b

Develops, manufactures, markets, and sells fiber communication solutions in Sweden, Rest of Europe, North America, Asia Pacific, the United Kingdom, and internationally.

Resurs Holding

Market Cap: SEK 4.7b

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

Nivika Fastigheter

Market Cap: SEK 3.7b

Owns, manages, and develops residential and commercial properties in Sweden.

Green Landscaping Group

Market Cap: SEK 3.4b

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

KB Components

Market Cap: SEK 2.9b

Designs, develops, manufactures, and sells polymer components for light vehicles, heavy vehicles, medical, furniture, lighting, chrome plating, and industrial applications in Sweden and internationally.

Byggmax Group

Market Cap: SEK 2.9b

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

Elanders

Market Cap: SEK 2.1b

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.

Humana

Market Cap: SEK 2.0b

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

Paxman

Market Cap: SEK 1.5b

Develops and sells Paxman scalp cooling system to minimize hair loss in connection with chemotherapy treatment worldwide.

Arise

Market Cap: SEK 1.5b

Operates in the renewable energy sector.

Lea Bank

Market Cap: SEK 1.3b

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

Prevas

Market Cap: SEK 1.3b

Provides technical consultancy services in Sweden and internationally.

C-Rad

Market Cap: SEK 995.6m

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.

RugVista Group

Market Cap: SEK 972.7m

Operates direct-to-consumer online platforms for carpet and rug sales in Sweden and internationally.

Pricer

Market Cap: SEK 962.1m

Provides in-store digital solutions in Europe, the Middle East and Africa, the Americas, and Asia and Pacific.

Rottneros

Market Cap: SEK 863.6m

Develops and produces chemical and mechanical market pulp worldwide.

Sleep Cycle

Market Cap: SEK 829.4m

Engages in providing sleep tracking applications in Sweden.

ADDvise Group

Market Cap: SEK 806.2m

Supplies medical devices, equipment, and consumables to public and private laboratories and research facilities, healthcare, and pharmaceuticals in North America, Europe, South America, Sweden, and internationally.

Pierce Group

Market Cap: SEK 689.0m

An e-commerce company, engages in the sale of motorcycle and snowmobile gears, and parts and accessories in Sweden.

HAKI Safety

Market Cap: SEK 677.0m

Provides safety products and solutions for infrastructure, energy, industry, aviation, rail and construction, and civil engineering industries in Europe and North America.

Netel Holding

Market Cap: SEK 546.2m

Provides construction and maintenance services for communication infrastructure and power networks in Sweden, Norway, Finland, Germany, and the United Kingdom.

B3 Consulting Group

Market Cap: SEK 537.6m

A consultancy company provides IT and management consultancy services in Sweden.

AVTECH Sweden

Market Cap: SEK 436.0m

Engages in the development and sale of products and services for digital air traffic control systems.

Ogunsen

Market Cap: SEK 296.4m

Offers recruitment and consultancy services for specialists and managers in economics and finance sectors in Sweden.