Canadian Undervalued over 20% based on DCF

Royal Bank of Canada

Market Cap: CA$327.2b

Operates as a diversified financial service company worldwide.

Toronto-Dominion Bank

Market Cap: CA$229.0b

Provides various financial products and services in Canada, the United States, and internationally.

Bank of Montreal

Market Cap: CA$137.5b

Engages in the provision of diversified financial services primarily in North America.

Canadian Natural Resources

Market Cap: CA$131.8b

Engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa.

Canadian Imperial Bank of Commerce

Market Cap: CA$128.5b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Bank of Nova Scotia

Market Cap: CA$121.4b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Suncor Energy

Market Cap: CA$105.9b

Operates as an integrated energy company in Canada, the United States, and internationally.

Imperial Oil

Market Cap: CA$87.0b

Engages in exploration, production, and sale of crude oil and natural gas in Canada.

Alimentation Couche-Tard

Market Cap: CA$74.0b

Operates and licenses convenience stores in North America, Europe, and Asia.

National Bank of Canada

Market Cap: CA$73.5b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Nutrien

Market Cap: CA$49.9b

Provides crop inputs and services.

Intact Financial

Market Cap: CA$44.5b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Bombardier

Market Cap: CA$25.8b

Engages in the design, manufacture, and sale of business aircraft and aircraft structural components worldwide.

GFL Environmental

Market Cap: CA$22.1b

Provides non-hazardous solid waste management services in Canada and the United States.

Magna International

Market Cap: CA$21.9b

Operates as an automotive supplier in North America, Europe, the Asia Pacific, and internationally.

CGI

Market Cap: CA$21.2b

Provides information technology and business process services in Western and Southern Europe, the United States, Canada, Scandinavia, Northwest and Central-East Europe, the United Kingdom, Australia, Germany, Finland, Poland, Baltics, and the Asia Pacific.

Endeavour Mining

Market Cap: CA$21.1b

Operates as a gold mining company in West Africa.

Metro

Market Cap: CA$20.8b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Saputo

Market Cap: CA$18.0b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, Argentina, and the United Kingdom.

IGM Financial

Market Cap: CA$16.0b

Engages in the wealth and asset management business in Canada.

IAMGOLD

Market Cap: CA$15.9b

Through its subsidiaries, operates as a gold producer and developer in Canada and Burkina Faso.

CCL Industries

Market Cap: CA$15.4b

Manufactures and sells labels, consumer printable media products, technology-driven label solutions, polymer banknote substrates, and specialty films.

AltaGas

Market Cap: CA$15.2b

Operates as an energy infrastructure company in North America.

Gildan Activewear

Market Cap: CA$14.8b

Manufactures and sells various apparel products.

TFI International

Market Cap: CA$13.7b

Provides transportation and logistics services in the United States, Canada, and Mexico.

Element Fleet Management

Market Cap: CA$12.6b

Operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand.

G Mining Ventures

Market Cap: CA$12.1b

A mining company, engages in the acquisition, exploration, evaluation, development, and operation of mineral properties.

CAE

Market Cap: CA$12.1b

Provides training, simulation, and critical operation solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and rest of the Americas.

Capital Power

Market Cap: CA$10.7b

Develops, acquires, owns, and operates utility-scale renewable and flexible generation facilities in Canada and the United States.

OR Royalties

Market Cap: CA$10.4b

Acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally.

OceanaGold

Market Cap: CA$10.3b

Engages in the exploration, development, and operation of gold and gold/copper mines in the United States, the Philippines, and New Zealand.

Descartes Systems Group

Market Cap: CA$8.0b

Provides global logistics technology solutions in the United States, Europe, the Middle East, Africa, Canada, and the Asia Pacific.

Colliers International Group

Market Cap: CA$7.8b

Provides commercial real estate, engineering, and investment management solutions in the United States, Canada, Europe, Australia, the United Kingdom, Poland, China, India, and internationally.

Topicus.com

Market Cap: CA$7.7b

Provides vertical market software and vertical market platforms in the Netherlands and internationally.

Definity Financial

Market Cap: CA$7.7b

Offers property and casualty insurance products in Canada.

PrairieSky Royalty

Market Cap: CA$7.4b

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Canada.