Finnish Undervalued over 20% based on DCF

Talenom Oyj

Market Cap: €158.7m

Provides accounting and other services for small and medium-sized enterprises in Finland, Sweden, Spain, and Italy.

Verkkokauppa.com Oyj

Market Cap: €158.6m

Operates as an online retailer in Finland.

Alexandria Group Oyj

Market Cap: €103.8m

Provides investment and saving solutions in Finland.

Nexstim

Market Cap: €102.7m

A medical technology company, engages in the development of non-invasive brain stimulation technologies in Finland, rest of Europe, North America, and internationally.

Raute Oyj

Market Cap: €94.9m

Operates as a technology and service company that serves the wood products industry in Europe, Africa, Finland, North America, South America, Russia, and the Asia-Pacific.

Sitowise Group Oyj

Market Cap: €92.8m

Provides buildings, infrastructure, and digital solutions in Finland, Sweden, and internationally.

Apetit Oyj

Market Cap: €88.6m

Manufactures and sells plant-based food products in Finland, Norway, Sweden, and internationally.

Consti Oyj

Market Cap: €86.7m

Provides renovation contracting and technical building services in Finland.

Kreate Group Oyj

Market Cap: €82.5m

Engages in the construction of infrastructure projects for private and public sector customers in Finland.

Orthex Oyj

Market Cap: €81.3m

A houseware company, designs, produces, markets, and sells household products in Nordics, the rest of Europe, and internationally.

Tecnotree Oyj

Market Cap: €80.8m

Provides telecommunication IT solutions for charging, billing, customer care, and messaging and content services in Europe, the Americas, the Middle East, Africa, and the Asia Pacific.

Kamux Oyj

Market Cap: €77.7m

Engages in the wholesale and retail of used cars in Finland, Sweden, and Germany.

Loihde Oyj

Market Cap: €65.7m

Through its subsidiaries, provides digital development and security solutions in Finland.

Glaston Oyj Abp

Market Cap: €53.4m

Manufactures and sells glass processing machines in Finland, Europe, the Middle East, Africa, the Americas, China, and rest of Asia Pacific.

Modulight Oyj

Market Cap: €51.8m

Designs, manufactures, and markets lasers products for medical and other diagnostic applications.

Biohit Oyj

Market Cap: €47.1m

A biotechnology company, manufactures and sells bind acetaldehyde, diagnostic products, and systems for diagnostic analysis for the use of research institutions, healthcare, and industry worldwide.

Componenta

Market Cap: €40.3m

Provides cast iron components in Finland.

Exel Composites Oyj

Market Cap: €40.1m

Manufactures and sells composite profiles and tubes made with pultrusion, pull-winding, and continuous lamination processes in Europe, North America, the Asia Pacific, and internationally.

Merus Power Oyj

Market Cap: €40.0m

Designs, manufactures, and sells battery energy storage systems and power quality solutions in Finland and internationally.

Digital Workforce Services Oyj

Market Cap: €38.2m

Provides business process automation services and technology solutions in Finland, Sweden, Norway, Denmark, Poland, rest of the European Union, and internationally.

Tulikivi

Market Cap: €27.1m

Manufactures and sells fireplaces, sauna heaters, and interior stone products in Finland, the United States, and rest of Europe.

Robit Oyj

Market Cap: €25.2m

Engages in the design, manufacture, and sale of drilling consumables for mining, quarrying, construction, and well drilling industries in Finland.

Witted Megacorp Oyj

Market Cap: €24.7m

Operates as a software development company in Finland, Norway, and Sweden.

Rebl Group Oyj

Market Cap: €17.8m

Primarily engages in printing and designing of magazines and newspapers business in Finland.

Honkarakenne Oyj

Market Cap: €16.5m

Designs, manufactures, and sells log and solid-wood house packages in Finland.

Kesla Oyj

Market Cap: €10.5m

Develops machinery, technology, and services for customers in the forest and other industries in Finland.