German Software Undervalued over 20% based on DCF

SAP

Market Cap: €217.1b

Provides enterprise application and business solutions worldwide.

Nemetschek

Market Cap: €7.6b

Provides software solutions for architecture, engineering, construction, operation, and media industries in Germany, the rest of Europe, the Americas, the Asia Pacific, and internationally.

IONOS Group

Market Cap: €4.6b

Provides web presence and productivity, and cloud solutions for companies in Germany, the United States, the United Kingdom, Spain, France, Poland, and Austria.

Kontron

Market Cap: €1.3b

Engages in the provision of Internet of Things software and solutions in Europe and internationally.

Cancom

Market Cap: €616.5m

Provides information technology services in Germany and internationally.

SNP Schneider-Neureither & Partner

Market Cap: €607.9m

Provides software and consulting services for SAP transformations and data management.

GFT Technologies

Market Cap: €585.4m

Provides digital transformation services.

All for One Group

Market Cap: €314.9m

Engages in the SAP transformations and cloud business in Germany, Austria, Switzerland, Poland, Luxembourg, and internationally.

Allgeier

Market Cap: €178.8m

Provides information technology (IT) solutions and software services in Germany.

Spir Group

Market Cap: €99.2m

Provides software solutions in Norway, Sweden, and internationally.

q.beyond

Market Cap: €84.7m

Engages in the cloud, applications, artificial intelligence (AI), and security businesses in Germany and internationally.

ORBIS

Market Cap: €43.9m

Provides software and business consultancy services in Germany and internationally.

INTERSHOP Communications

Market Cap: €29.2m

Offers ecommerce solutions in Germany, rest of Europe, and internationally.