U.K. Undervalued over 20% based on DCF

Hochschild Mining

Market Cap: UK£3.4b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits in Peru, Argentina, the United Kingdom, Canada, Brazil, and Chile.

Rightmove

Market Cap: UK£3.3b

Operates property portal in the United Kingdom and internationally.

Pan African Resources

Market Cap: UK£3.2b

Engages in the mining, extraction, production, and sale of gold in South Africa.

QinetiQ Group

Market Cap: UK£2.5b

Provides science and technology solution in the defense, security, and infrastructure markets in the United Kingdom, the United States, Australia, and internationally.

Unite Group

Market Cap: UK£2.4b

Unite Group PLC is the UK's largest owner, manager and developer.

Mitie Group

Market Cap: UK£2.3b

Provides facilities management and professional services in the United Kingdom and internationally.

Rathbones Group

Market Cap: UK£2.1b

Provides wealth management, asset management, and related services in the United Kingdom and Channel Islands.

Bridgepoint Group

Market Cap: UK£2.1b

A private equity and private credit firm specializing in middle market, lower mid-market, small mid cap, small cap, growth capital, buyouts investments, syndicate debt, infrastructure, direct lending and credit opportunities in private credit investments.

Helios Towers

Market Cap: UK£2.0b

An independent tower company, acquires, builds, and operates telecommunications towers.

Ninety One Group

Market Cap: UK£2.0b

Operates as an independent global asset manager worldwide.

B&M European Value Retail

Market Cap: UK£1.8b

B&M European Value Retail plc retails general merchandise products and groceries.

Grafton Group

Market Cap: UK£1.7b

Distributes and sells building materials and construction related products in Ireland, the United Kingdom, Ireland, the Netherlands, Finland, and Spain.

Dunelm Group

Market Cap: UK£1.7b

Engages in the retail of homewares in the United Kingdom.

Hammerson

Market Cap: UK£1.7b

Hammerson Plc is the largest UK-listed, pure-play owner and manager of prime retail and leisure anchored city destinations across the UK, France and Ireland.

Coats Group

Market Cap: UK£1.6b

Engages in thread manufacturing, structural components for apparel and footwear, and performance materials worldwide.

Keller Group

Market Cap: UK£1.5b

Provides specialist geotechnical services in North America, Europe, the Middle East, and the Asia-Pacific.

Clarkson

Market Cap: UK£1.5b

Provides shipping services in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

SigmaRoc

Market Cap: UK£1.4b

Through its subsidiaries, invests in and/or acquires projects in the quarried materials sector.

RHI Magnesita

Market Cap: UK£1.3b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

Cairn Homes

Market Cap: UK£1.2b

Operates as homebuilder in Ireland.

Senior

Market Cap: UK£1.2b

Designs, manufactures, and sells high-technology components and systems for the original equipment manufacturers in the aerospace, defense, land vehicle, and power and energy markets in the United States, the United Kingdom, and internationally.

Breedon Group

Market Cap: UK£1.1b

Engages in the quarrying, manufacture, and sale of construction materials and building products in the Great Britain, Ireland, and the United States.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Playtech

Market Cap: UK£1.1b

A technology company, operates as a gambling software, services, content, and platform technologies provider in Italy, Mexico, the United Kingdom, rest of Europe, Latin America, and internationally.

Vesuvius

Market Cap: UK£1.1b

Provides molten metal flow engineering and technology services to steel and foundry casting industries worldwide.

IntegraFin Holdings

Market Cap: UK£1.1b

Provides software and services for clients and UK financial advisers in the United Kingdom and Isle of Man.

Serica Energy

Market Cap: UK£1.0b

Serica Energy plc, together with its subsidiaries, identifies, acquires, and exploits oil and gas reserves oil in the United Kingdom.

Supermarket Income REIT

Market Cap: UK£1.0b

A FTSE 250 company, is the only LSE listed company dedicated to investing in grocery properties which are an essential part of national food infrastructure.

4imprint Group

Market Cap: UK£1.0b

Operates as a direct marketer of promotional products in North America, the United Kingdom, and Ireland.

Fevertree Drinks

Market Cap: UK£924.2m

Engages in the development and sale of mixer drinks in the United Kingdom, the United States, Europe, and internationally.

Trustpilot Group

Market Cap: UK£890.8m

Engages in the development and hosting of an online review platform for businesses and consumers in the United Kingdom, North America, Europe, and internationally.

Baltic Classifieds Group

Market Cap: UK£890.2m

Operates online classifieds portals for automotive, real estate, jobs and services, and general merchandise in Estonia, Latvia, and Lithuania.

Kainos Group

Market Cap: UK£882.5m

Engages in the provision of digital technology services in the United Kingdom, Ireland, the Americas, Central Europe, and internationally.

CVS Group

Market Cap: UK£824.3m

Engages in veterinary, online pharmacy, and retail businesses in the United Kingdom and Australia.

M.P. Evans Group

Market Cap: UK£809.3m

Through its subsidiaries, owns and develops oil palm plantations in Indonesia and Malaysia.

BioPharma Credit

Market Cap: US$1.1b

An investment trust, primarily invests in interest-bearing debt assets.