Global Capital Goods Undervalued over 20% based on DCF

Boeing

Market Cap: US$172.9b

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

Airbus

Market Cap: €133.4b

Engages in the design, manufacture, and delivery of aeronautics and aerospace products, services, and solutions worldwide.

Rheinmetall

Market Cap: €68.0b

Provides mobility and security technologies in Germany, Rest of Europe, North, Middle, and South America, Asia and the Near East, and internationally.

3M

Market Cap: US$78.6b

Provides diversified technology services in the America, the Asia Pacific, Europe, the Middle East, Africa, and internationally.

AB Volvo

Market Cap: SEK 663.6b

Manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, Africa, and Oceania.

L3Harris Technologies

Market Cap: US$66.9b

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

Thales

Market Cap: €53.3b

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

Compagnie de Saint-Gobain

Market Cap: €37.1b

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

Daimler Truck Holding

Market Cap: €33.9b

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

Sungrow Power Supply

Market Cap: CN¥268.5b

Engages in the research and development, production, sale, and service of new energy power equipment for solar energy, wind energy, energy storage, and electric vehicles.

Kongsberg Gruppen

Market Cap: NOK 357.6b

Provides high-tech systems and solutions primarily to customers in the defense markets.

HEICO

Market Cap: US$35.0b

Provides aerospace, defense, and electronic related products and services in the United States and internationally.

Samsung C&T

Market Cap: ₩49.3t

Engages in the engineering and construction, trading and investment, fashion, and resort businesses in South Korea, Europe, the Middle East, Africa, the Asia Pacific, and the Americas.

Otis Worldwide

Market Cap: US$31.6b

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

NARI Technology

Market Cap: CN¥211.2b

Provides power intelligence solutions in China and internationally.

Dassault Aviation société anonyme

Market Cap: €25.2b

An aerospace company, engages in designing and building military aircraft, business jets, and space systems in France, the United States, and internationally.

Adani Enterprises

Market Cap: ₹2.7t

Operates in the new energy ecosystem, data center, airports, roads, copper, digital space, ropeway system, and other sectors in India and internationally.

Sunbelt Rentals Holdings

Market Cap: US$27.8b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

CRRC

Market Cap: CN¥173.1b

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.

Bouygues

Market Cap: €20.2b

Operates in the construction, energies and services, telecom, and media sectors in France and internationally.

AerCap Holdings

Market Cap: US$23.6b

Engages in the lease, financing, sale, and management of commercial flight equipment in the United States, China, and internationally.

MTU Aero Engines

Market Cap: €17.6b

Engages in the development, manufacture, sale, and maintenance of commercial and military aircraft engines, and aero-derivative industrial gas turbines in Germany, other European countries, North America, Asia, and internationally.

Knorr-Bremse

Market Cap: €17.1b

Develops, produces, and markets brake systems for rail and commercial vehicles and other safety-critical systems worldwide.

Alpha Dhabi Holding PJSC

Market Cap: د.إ71.8b

Engages in the construction, healthcare, real estate, and hospitality businesses in the United Arab Emirates and internationally.

APi Group

Market Cap: US$19.0b

Provides fire and life safety, security, elevator and escalator, and specialty services worldwide.

Bombardier

Market Cap: CA$25.8b

Engages in the design, manufacture, and sale of business aircraft and aircraft structural components worldwide.

XCMG Construction Machinery

Market Cap: CN¥124.5b

Engages in the manufacturing and sale of construction machinery in China.

Kajima

Market Cap: JP¥2.9t

Engages in civil engineering, building construction, real estate development, architectural and civil design, and other businesses.

Zhejiang Huayou Cobalt

Market Cap: CN¥115.1b

Engages in the research, development, manufacture, and sale of lithium battery materials and diamond material products in China and internationally.

Nidec

Market Cap: JP¥2.6t

Develops, manufactures, and sells motors, electronics and optical components, and other related products in Japan and internationally.

Samsung Heavy Industries

Market Cap: ₩24.4t

Engages in shipbuilding, offshore, and energy and infra businesses worldwide.

Obayashi

Market Cap: JP¥2.6t

Engages in the construction business in Japan, North America, Asia and internationally.

Textron

Market Cap: US$15.9b

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

Eiffage

Market Cap: €13.5b

Engages in the construction and concessions businesses in France, Germany, Europe, and internationally.

Watsco

Market Cap: US$15.1b

Engages in the distribution of air conditioning, heating, and refrigeration equipment, and related parts and supplies in the United States, Canada, Latin America, and the Caribbean.

Astra International

Market Cap: Rp253.3t

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