German Capital Goods Undervalued over 20% based on DCF

Rheinmetall

Market Cap: €71.9b

Provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally.

Daimler Truck Holding

Market Cap: €34.1b

Manufactures and sells light, medium- and heavy-duty trucks and buses in Europe, North America, Asia, Latin America, and internationally.

MTU Aero Engines

Market Cap: €17.8b

Engages in the development, manufacture, sale, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Knorr-Bremse

Market Cap: €16.7b

Develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide.

Hensoldt

Market Cap: €9.4b

Provides sensor solutions for defense and security applications worldwide.

Brenntag

Market Cap: €8.6b

Distributes chemicals and ingredients in Germany, the United States, the United Kingdom, China, Canada, Italy, Poland, France, and internationally.

KION GROUP

Market Cap: €5.7b

Provides industrial trucks and supply chain solutions in Western and Eastern Europe, the Middle East, Africa, North America, Central and South America, China, and the rest of the Asia Pacific.

TKMS & Co KGaA

Market Cap: €5.5b

Provides maritime technologies and solutions in Germany, Norway, Brazil, Israel, and internationally.

RENK Group

Market Cap: €5.4b

Engages in the design, engineering, production, testing, and servicing of customized drive systems in Asia, Germany, the United States, Africa, Australia, Oceania, and other European and European Union countries.

Dürr

Market Cap: €1.5b

Operates as a mechanical and plant engineering company worldwide.

Vossloh

Market Cap: €1.5b

Provides rail infrastructure products and services in Germany and internationally.

thyssenkrupp nucera KGaA

Market Cap: €1.0b

Engages in the development, engineering, procurement, commissioning, and licensing of electrolysis technologies in Germany, Saudi Arabia, Sweden, the United States, and internationally.

MBB

Market Cap: €935.0m

Engages in the acquisition and management of medium-sized companies in Germany and internationally.

2G Energy

Market Cap: €742.7m

Manufactures and provides decentralized energy supply systems in Germany and internationally.

INDUS Holding

Market Cap: €688.4m

A private equity firm specializing in mergers and acquisitions and corporate spin-offs.

Pilkington Deutschland

Market Cap: €677.6m

Engages in the manufacture and sale of glass and glazing solutions worldwide.

WashTec

Market Cap: €605.7m

Provides solutions for car wash in Germany, Europe, and North America.

SGL Carbon

Market Cap: €454.8m

Manufactures and sells special graphite, carbon fiber, and composite products in Germany, rest of Europe, the United States, China, rest of Asia, and internationally.

Stabilus

Market Cap: €431.8m

Engages in the development, production, and distribution of gas springs, dampers, electromechanical damper opening systems, vibration isolation products, and industrial components in Germany, other European countries, the Middle East, Africa, North America, South America, the Asia-Pacific, and internationally.

STEICO

Market Cap: €304.2m

Develops, produces, and markets ecological construction products made of renewable raw materials in Germany, Austria, Switzerland, Lichtenstein, France, Belgium, Netherlands, Luxemburg, South European countries, and internationally.

SFC Energy

Market Cap: €249.3m

Develops, produces, and distributes systems and solutions for stationary and mobile off-grid power supply based on hydrogen and direct methanol fuel cells worldwide.

technotrans

Market Cap: €198.6m

Operates as a technology and services company worldwide.

Aumann

Market Cap: €166.6m

Manufactures and sells specialized machines and production lines for electromobility, automation, and robot applications in Germany, rest of Europe, the United States, Canada, Mexico, China, and internationally.

Gesco

Market Cap: €146.0m

Operates in the process, resource, healthcare, and infrastructure technology sectors in Germany, rest of Europe, the United States, and internationally.

Alexanderwerk

Market Cap: €49.3m

Engages in the development, production, and sale of dry compaction and granulation machines for the chemical, food, life science, nuclear, and pharmaceutical industries worldwide.

SBF

Market Cap: €33.6m

Through its subsidiary, SBF Spezialleuchten GmbH, engages in the supply of lighting systems for rail vehicles, municipalities, railways, and industry in Germany.