Global Capital Goods Undervalued over 20% based on DCF

Siemens

Market Cap: €168.6b

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.

Contemporary Amperex Technology

Market Cap: CN¥1.2t

Engages in the development, production, sale, and energy storage batteries and systems worldwide.

Boeing

Market Cap: US$167.8b

Designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

Lockheed Martin

Market Cap: US$98.3b

An aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide.

Rheinmetall

Market Cap: €80.9b

Provides mobility and security technologies in Germany; the rest of Europe; North, Middle, and South America; Asian regions, and internationally.

General Dynamics

Market Cap: US$83.5b

Operates as an aerospace and defense company worldwide.

Illinois Tool Works

Market Cap: US$73.5b

Provides industrial products and equipment in North America, Europe, the Middle East, Africa, the Asia Pacific, and South America.

BAE Systems

Market Cap: UK£54.9b

Provides defense, aerospace, and security solutions in the United States, the United Kingdom, the Middle East, Australia, Japan, Europe, and internationally.

AB Volvo

Market Cap: SEK 552.4b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania.

Thales

Market Cap: €48.6b

Provides various solutions in the defence and security, aerospace and space, and digital identity and security markets worldwide.

Compagnie de Saint-Gobain

Market Cap: €45.6b

Designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide.

L3Harris Technologies

Market Cap: US$52.1b

Provides mission-critical solutions for government and commercial customers worldwide.

Cummins

Market Cap: US$49.0b

Offers various power solutions worldwide.

ASSA ABLOY

Market Cap: SEK 356.8b

Provides door opening and access products for the institutional, commercial, and residential markets.

Daimler Truck Holding

Market Cap: €29.7b

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

Otis Worldwide

Market Cap: US$33.3b

Engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally.

Westinghouse Air Brake Technologies

Market Cap: US$31.9b

Provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide.

Komatsu

Market Cap: JP¥4.4t

Manufactures and sells construction, mining, and utility equipment in Japan, the Americas, Europe, China, Rest of Asia, Oceania, the Middle East, Africa, and CIS countries.

CRRC

Market Cap: CN¥199.4b

CRRC Corporation Limited, with its subsidiaries, engages in the research and development, design, manufacture, refurbishment, sale, leasing, and technical servicing of railway locomotives in Mainland China and internationally.

Comfort Systems USA

Market Cap: US$24.5b

Provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States.

NARI Technology

Market Cap: CN¥175.4b

Provides power intelligence solutions in China and internationally.

Dover

Market Cap: US$24.0b

Provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide.

MTU Aero Engines

Market Cap: €20.4b

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.

Sany Heavy IndustryLtd

Market Cap: CN¥165.5b

Engages in the research and development, manufacture, and sale of construction machinery in Asia, Australia, Europe, North America, South America, Africa, and internationally.

Techtronic Industries

Market Cap: HK$173.7b

Engages in designing, manufacturing, and marketing of power tools, outdoor power equipment, and floorcare and cleaning products in the North America, Europe, and internationally.

Vestas Wind Systems

Market Cap: DKK 118.3b

Engages in the design, manufacture, installation, and services of wind turbines the United States, Denmark, and internationally.

Traton

Market Cap: €14.7b

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: €14.4b

Engages in the construction business worldwide.

Fortive

Market Cap: US$15.7b

Designs, develops, manufactures, and markets products, software, and services in the United States, China, and internationally.

Kingspan Group

Market Cap: €12.7b

Provides insulation and building envelope solutions in Western and Southern Europe, Central and Northern Europe, the Americas, and internationally.

Textron

Market Cap: US$13.8b

Operates in the aircraft, defense, industrial, and finance businesses worldwide.

SGH

Market Cap: AU$20.3b

Engages in the heavy equipment sales and service, equipment hire, construction materials, media, broadcasting, and energy assets businesses.

Hensoldt

Market Cap: €10.8b

Provides sensor solutions for defense and security applications worldwide.

Eiffage

Market Cap: €10.8b

Engages in the construction and concessions industries in France, rest of Europe, and internationally.

Astra International

Market Cap: Rp203.4t

Operates in the automotive, financial services, heavy equipment, mining, construction, energy, agri, infrastructure and logistics, information technology, and property businesses in Indonesia and internationally.

Hikari Tsushin

Market Cap: JP¥1.8t

A holding company, engages in the sale of communication-related products in Japan.