German Undervalued over 20% based on DCF

Siemens

Market Cap: €180.7b

A technology company, focuses in the areas of automation and digitalization in Europe, Commonwealth of Independent States, Africa, the Middle East, the Americas, Asia, and Australia.

Siemens Energy

Market Cap: €75.9b

Operates as an energy technology company worldwide.

Deutsche Bank

Market Cap: €59.7b

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

Mercedes-Benz Group

Market Cap: €50.1b

Operates as an automotive company in Germany and internationally.

BASF

Market Cap: €40.6b

Operates as a chemical company worldwide.

Commerzbank

Market Cap: €38.9b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Daimler Truck Holding

Market Cap: €32.0b

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

Beiersdorf

Market Cap: €22.3b

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

MTU Aero Engines

Market Cap: €20.7b

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

Traton

Market Cap: €15.9b

Manufactures and sells commercial vehicles in Germany, rest of Europe, the United States of America, rest of North America, Brazil, rest of South America, and internationally.

HOCHTIEF

Market Cap: €15.7b

Engages in the construction business worldwide.

Covestro

Market Cap: €11.4b

Supplies high-tech polymer materials and application solutions.

Symrise

Market Cap: €11.1b

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.

DWS Group GmbH KGaA

Market Cap: €11.0b

Offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Hensoldt

Market Cap: €9.8b

Provides sensor solutions for defense and security applications worldwide.

KION GROUP

Market Cap: €7.7b

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.

IONOS Group

Market Cap: €5.7b

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

Nordex

Market Cap: €5.4b

Develops, manufactures, and distributes multi-megawatt onshore wind turbines worldwide.

Fielmann Group

Market Cap: €4.7b

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

Aurubis

Market Cap: €4.2b

Processes metal concentrates and recycling materials in Germany.

Krones

Market Cap: €4.1b

Engages in the planning, development, and manufacture of machines and lines for the production, filling, and packaging technology for the food and beverage industry in Germany and internationally.

SCHOTT Pharma KGaA

Market Cap: €3.7b

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

Aroundtown

Market Cap: €3.6b

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

Ströer SE KGaA

Market Cap: €2.6b

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

LANXESS

Market Cap: €2.2b

Operates as a specialty chemicals company that engages in the development, manufacture, and marketing of chemical intermediates, additives, specialty chemicals, and consumer protection products worldwide.

HORNBACH Holding KGaA

Market Cap: €1.6b

Through its subsidiaries, develops and operates do-it-yourself (DIY) megastores with garden centers in Germany and other European countries.

Kontron

Market Cap: €1.6b

Engages in the provision of Internet of Things (IoT) solutions in Austria and internationally.

Gerresheimer

Market Cap: €1.6b

Manufactures and sells medicine packaging, drug delivery devices, and solutions in Germany and internationally.

Dürr

Market Cap: €1.6b

Operates as a mechanical and plant engineering company worldwide.

AIXTRON

Market Cap: €1.5b

Provides deposition equipment to the semiconductor industry in Asia, Europe, and the Americas.

DEUTZ

Market Cap: €1.3b

Develops, manufactures, and sells diesel and gas engines in Germany, Rest of Europe, the Middle East, Africa, the Asia Pacific, and the United States.

ABOUT YOU Holding

Market Cap: €1.2b

ABOUT YOU Holding SE retails lifestyle and fashion products for women, men, babies, girls, and boys.

PNE

Market Cap: €1.2b

Engages in the planning, construction, and operation of wind farms and transformer stations in Germany and internationally.

Jenoptik

Market Cap: €1.1b

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

Adtran Networks

Market Cap: €1.1b

Engages in the development, manufacture, and sale of optical and Ethernet-based networking solutions for telecommunications carriers and enterprises to deliver data, storage, voice, and video services.

PFISTERER Holding

Market Cap: €1.1b

Manufactures and sells cable fittings, insulators for overhead lines, and associated components for sensitive interfaces in energy networks and renewable energy generation.