U.K. Undervalued over 20% based on DCF

Jupiter Fund Management

Market Cap: UK£765.3m

A publicly owned investment manager.

Genuit Group

Market Cap: UK£758.7m

Develops and produces solutions for water, climate, and ventilation management in the construction industry in the United Kingdom, rest of Europe, and internationally.

Renew Holdings

Market Cap: UK£744.1m

Provides engineering services in the United Kingdom and rest of Europe.

A.G. BARR

Market Cap: UK£716.0m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

PPHE Hotel Group

Market Cap: UK£709.9m

Owns, co-owns, develops, leases, operates, and franchises hospitality real estate in the Netherlands, the United Kingdom, Germany, Croatia, Austria, Hungary, Italy, and Serbia.

Domino's Pizza Group

Market Cap: UK£686.5m

Owns, operates, and franchises Domino’s Pizza stores in the United Kingdom and Ireland.

Bytes Technology Group

Market Cap: UK£671.3m

Offers software, security, AI, and cloud services in the United Kingdom, Europe, and internationally.

Moonpig Group

Market Cap: UK£668.3m

Operates as a data and technology platform for online greeting cards and gifting in the Netherlands, Ireland, Australia, the United States, and the United Kingdom.

Target Healthcare REIT

Market Cap: UK£655.0m

Target Healthcare REIT PLC (THRL) is an externally managed FTSE 250 Real Estate Investment Trust.

Close Brothers Group

Market Cap: UK£622.4m

A merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom.

XPS Pensions Group

Market Cap: UK£619.5m

Provides employee benefit consultancy and related business services in the United Kingdom.

Polar Capital Holdings

Market Cap: UK£605.2m

Polar Capital Holdings plc is a publicly owned investment manager.

Spire Healthcare Group

Market Cap: UK£605.0m

Owns and operates private hospitals and clinics in the United Kingdom.

Morgan Advanced Materials

Market Cap: UK£590.3m

Manufactures and sells various carbon and ceramic products.

Applied Nutrition

Market Cap: UK£560.0m

Engages in the manufacture, wholesale, and retail of sports nutritional products in the United Kingdom and internationally.

Victrex

Market Cap: UK£539.9m

Through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide.

Pantheon Infrastructure

Market Cap: UK£524.9m

Focuses on investing in infrastructure assets worldwide.

Guardian Metal Resources

Market Cap: UK£510.2m

Engages in the exploration and exploitation of mineral resources in the United States.

Hays

Market Cap: UK£483.8m

Engages in the provision of professional and skilled recruitment services in Germany, the United Kingdom, Ireland, Australia, New Zealand, and internationally.

Bloomsbury Publishing

Market Cap: UK£472.4m

Bloomsbury Publishing Plc publishes academic, educational, and general fiction and non-fiction books publishing for children, general reader, teachers, students, researchers, libraries, researchers, and professionals worldwide.

Young's Brewery

Market Cap: UK£469.9m

Engages in the operation and management of pubs and hotels in the United Kingdom.

Hollywood Bowl Group

Market Cap: UK£440.9m

Operates ten-pin bowling and mini-golf centers in the United Kingdom and Canada.

Globalworth Real Estate Investments

Market Cap: €505.1m

A listed real estate company active in Central and Eastern Europe, quoted on the AIM segment of the London Stock Exchange.

Foresight Group Holdings

Market Cap: UK£432.8m

Operates as an infrastructure and private equity manager in the United Kingdom, Italy, Luxembourg, Ireland, Spain, and Australia.

Custodian Property Income REIT

Market Cap: UK£427.3m

A UK real estate investment trust, which listed on the main market of the London Stock Exchange on 26 March 2014.

Aston Martin Lagonda Global Holdings

Market Cap: UK£426.2m

Engages in the design, development, manufacture, and marketing of sports cars and sports utility vehicles(SUVs) in the United Kingdom, the United States, the Middle East, Africa, rest of Europe, and the Asia Pacific.

Gulf Keystone Petroleum

Market Cap: UK£423.6m

Engages in the exploration, development, and production of oil and gas in the Kurdistan Region of Iraq.

Ashtead Technology Holdings

Market Cap: UK£379.6m

Provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.

XP Power

Market Cap: UK£378.1m

An investment holding company, designs, manufactures, and sells power supply solutions in Europe, North America, and Asia.

ACG Metals

Market Cap: UK£376.0m

Produces gold and silver in Turkey.

PayPoint

Market Cap: UK£360.5m

Engages in the provision of payments and banking, shopping, and e-commerce services and products in the United Kingdom.

Marston's

Market Cap: UK£357.6m

Operates managed, franchised, tenanted, partnership, and leased pubs in the United Kingdom.

Restore

Market Cap: UK£335.4m

Provides secure and sustainable business services for data, information, communications, and assets primarily in the United Kingdom.

Gym Group

Market Cap: UK£317.2m

Operates a network of gym facilities under the Gym Group brand name in the United Kingdom.

Mears Group

Market Cap: UK£311.0m

Provides various outsourced services to the public and private sectors in the United Kingdom.

Yü Group

Market Cap: UK£306.8m

Through its subsidiaries, supplies energy and utility solutions primarily in the United Kingdom.