German Undervalued over 20% based on DCF

SAP

Market Cap: €162.3b

Provides enterprise application and business solutions worldwide.

Rheinmetall

Market Cap: €68.0b

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

Deutsche Post

Market Cap: €54.7b

Operates as a mail and logistics company in Germany, rest of Europe, the Americas, the Asia Pacific, the Middle East, and Africa.

Deutsche Bank

Market Cap: €52.0b

A stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, the rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa.

Bayerische Motoren Werke

Market Cap: €50.9b

Develops, manufactures, and sells automobiles and motorcycles, spare parts, and accessories worldwide.

Siemens Healthineers

Market Cap: €42.4b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

Daimler Truck Holding

Market Cap: €33.9b

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

Hapag-Lloyd

Market Cap: €20.7b

Operates as a liner shipping company in Germany, the United States, Asia, the rest of Europe, the Pacific, the Atlantic, Africa, and internationally.

MTU Aero Engines

Market Cap: €17.6b

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: €17.1b

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

Beiersdorf

Market Cap: €16.5b

Manufactures and distributes consumer goods in Europe, the United States, Africa, Asia, and Australia.

Continental

Market Cap: €13.0b

Manufactures tire and develops and produces solutions for automotive manufacturers, industrial, and end customers worldwide.

Symrise

Market Cap: €10.1b

Operates as a supplier of fragrances, flavorings, cosmetic base materials and active ingredients, and functional ingredients and solutions in Europe, Africa, the Middle East, North America, the Asia Pacific, and Latin America.

Hensoldt

Market Cap: €8.9b

Provides sensor solutions for defense and security applications worldwide.

Brenntag

Market Cap: €8.4b

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

Deutsche Wohnen

Market Cap: €8.1b

Develops and manages residential properties in Germany.

Fraport

Market Cap: €7.4b

Owns and operates airports in Germany, the rest of Europe, Asia, and the America.

KION GROUP

Market Cap: €5.9b

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: €5.3b

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

RENK Group

Market Cap: €5.2b

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.

CTS Eventim KGaA

Market Cap: €5.2b

Operates in the leisure events market in Germany, Italy, Switzerland, the United States, Austria, the United Kingdom, Spain, Netherlands, Finland, France, Denmark, Sweden, Norway, Chile, Brazil, and internationally.

Scout24

Market Cap: €4.6b

Operates ImmoScout24, a digital marketplace for the residential and commercial real estate sectors in Germany and internationally.

Bilfinger

Market Cap: €4.1b

Provides industrial services to customers in the process industry primarily in Europe, North America, and the Middle East.

Fielmann Group

Market Cap: €3.8b

Engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.

Bechtle

Market Cap: €3.8b

Provides information technology (IT) services in Germany, France, Benelux, and Europe.

flatexDEGIRO

Market Cap: €3.7b

Provides online brokerage and IT solutions for banking and securities in Europe.

IONOS Group

Market Cap: €3.2b

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

Aroundtown

Market Cap: €2.6b

Operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.

Verbio

Market Cap: €2.4b

Engages in the production and distribution of fuels and finished products in Germany, Europe, North America, and internationally.

SCHOTT Pharma KGaA

Market Cap: €2.1b

Develops, manufactures, and sells drug containment solutions and delivery systems for injectable drugs for pharma, biotech, and life science industries worldwide.

Ströer SE KGaA

Market Cap: €1.9b

Provides out-of-home (OOH) media and digital out-of-home advertising services in Germany and internationally.

Grand City Properties

Market Cap: €1.8b

Engages in the residential real estate business in Germany, the United Kingdom, and internationally.

Jenoptik

Market Cap: €1.7b

Provides advanced photonic solutions and smart mobility solutions in Germany and internationally.

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.

Kontron

Market Cap: €1.2b

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