French Undervalued over 20% based on DCF

emeis Société anonyme

Market Cap: €2.1b

Operates nursing homes, assisted-living facilities, post-acute and rehabilitation hospitals, and psychiatric hospitals.

Peugeot Invest Société anonyme

Market Cap: €1.9b

Operates as an investment company.

Imerys

Market Cap: €1.9b

Engages in the supply of specialty minerals for various industries across Europe, the Middle East, Africa, Asia Pacific, and America.

STEF

Market Cap: €1.7b

Provides temperature-controlled road transport and logistics services for agri-food industry, and out-of-home foodservices.

Robertet

Market Cap: €1.6b

Produces and sells perfumes, aromas, and natural products.

Louis Hachette Group

Market Cap: €1.6b

Engages in the publishing and travel retail and media businesses.

Caisse Régionale de Crédit Agricole Mutuel Brie Picardie Société coopérative

Market Cap: €1.4b

Provides a range of banking and financial products and services to individuals, farmers, professionals, businesses, and public authorities in France.

Compagnie des Alpes

Market Cap: €1.2b

Engages in the operation of leisure facilities in France and internationally.

Mercialys

Market Cap: €1.1b

Mercialys is one of France’s leading real estate companies.

Tarkett

Market Cap: €1.1b

Provides flooring and sports surface solutions to businesses and residential end users in Europe, the Middle East, Africa, North America, the Commonwealth of Independent States, the Asia Pacific, and Latin America.

Neurones

Market Cap: €1.0b

An information technology (IT) services company, provides infrastructure, application, and consulting services in France and internationally.

BASSAC Société anonyme

Market Cap: €967.3m

Operates as a real estate development company primarily in France, Belgium, Germany, and Spain.

GL Events

Market Cap: €965.0m

Provides venues and offices for events.

Derichebourg

Market Cap: €953.4m

Provides environmental services to businesses, and local and municipal authorities worldwide.

Lectra

Market Cap: €940.6m

Provides industrial intelligence solutions for fashion, automotive, furniture markets, and other industries in Europe, the Americas, the Asia Pacific, and internationally.

Vetoquinol

Market Cap: €877.6m

A veterinary pharmaceutical company, designs, develops, and sells veterinary drugs and non-medicinal products in Europe, the Americas, and the Asia Pacific region.

Caisse Régionale de Crédit Agricole Mutuel Alpes Provence Société coopérative

Market Cap: €840.7m

Provides banking products and services in France.

Montepino Logística SOCIMI

Market Cap: €821.2m

A real estate investment company, engages in the acquisition, rental, and management of logistics properties in Spain and Portugal.

Voyageurs du Monde

Market Cap: €763.9m

Operates as a travel agency in France and internationally.

Equasens Société anonyme

Market Cap: €756.1m

Provides healthcare IT solutions in Europe.

Thermador Groupe

Market Cap: €729.1m

Engages in the distribution business in France and internationally.

Bénéteau

Market Cap: €696.8m

Designs, manufactures, and sells boats and leisure homes in France and internationally.

Assystem

Market Cap: €680.2m

Provides engineering and infrastructure project management services in France, the United Kingdom, and internationally.

Mersen

Market Cap: €622.1m

Manufactures and sells electrical power products and advanced materials in France, North America, rest of Europe, the Asia-Pacific, and internationally.

NRJ Group

Market Cap: €571.2m

A private media company, operates as a publisher, producer, and broadcaster in France and internationally.

Laurent-Perrier

Market Cap: €547.4m

Produces and sells champagne in France, Germany, Belgium, the United States, Switzerland, the United Kingdom, and Italy.

Quadient

Market Cap: €535.0m

Provides digital, mail, and lockers for customers through digital and physical channels in North America, France, Benelux, the United Kingdom, Ireland and Germany, Austria, Italy, Switzerland, and internationally.

SMCP

Market Cap: €469.6m

Operates as a ready-to-wear and accessories retail company in France and internationally.

Malteries Franco-Belges Société Anonyme

Market Cap: €443.9m

Engages in the production and sale of malt primarily for brewers in France and internationally.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €443.7m

Operates as a cooperative bank in France.

Lumibird

Market Cap: €433.6m

Designs, manufactures, and sells various lasers for scientific, industrial, and medical applications.

EPC Groupe

Market Cap: €415.0m

Engages in the manufacture, storage, and distribution of explosives in Europe, Africa, Asia Pacific, and the Americas.

Delta Plus Group

Market Cap: €403.8m

Engages in design, manufacture, and distribution of a range of personal protective equipment worldwide.

Patrimoine et Commerce

Market Cap: €379.7m

A real estate company, engages in the acquisition, development, and operation of commercial real estate properties in France.

Immobiliere Dassault

Market Cap: €371.4m

A real estate company, owns and manages offices and retail real estate assets in France.

Fonciere Inea

Market Cap: €366.9m

A real estate investment company, engages in owning and managing business real estate properties in France.