Global Capital Goods Undervalued over 20% based on DCF

Sterling Infrastructure

Market Cap: US$16.6b

Engages in the provision of e-infrastructure, transportation, and building solutions in the United States.

Ningbo Deye Technology Group

Market Cap: CN¥106.6b

Researches, designs, develops, produces, sells and services solar inverter systems, frequency conversion control systems, environmental electrical appliances, and heat exchangers in China.

Lennox International

Market Cap: US$15.4b

Designs, manufactures, and markets products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally.

Textron

Market Cap: US$15.3b

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

Carlisle Companies

Market Cap: US$15.3b

Operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, and internationally.

Lincoln Electric Holdings

Market Cap: US$15.1b

Through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally.

XCMG Construction Machinery

Market Cap: CN¥98.4b

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

Eiffage

Market Cap: €11.8b

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

Taisei

Market Cap: JP¥2.1t

Engages in the civil engineering, building construction and development businesses in Japan.

Doosan

Market Cap: ₩19.1t

Engages in the power generation facilities, industrial facilities, construction machinery, engines, and construction businesses in Korea, the United States, Asia, the Middle East, Europe, and internationally.

Samsung Heavy Industries

Market Cap: ₩19.0t

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

SGH

Market Cap: AU$18.8b

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

Watsco

Market Cap: US$12.8b

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.

Huntington Ingalls Industries

Market Cap: US$12.7b

Designs, builds, overhauls, and repairs military ships in the United States.

AB SKF

Market Cap: SEK 120.3b

Designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide.

LIG Defense&Aerospace

Market Cap: ₩17.4t

Engages in the research and development, manufacturing, maintenance, and sale of defense materials in South Korea and internationally.

Strabag

Market Cap: €10.0b

Engages in the construction projects.

Hensoldt

Market Cap: €10.0b

Provides sensor solutions for defense and security applications worldwide.

Astra International

Market Cap: Rp200.6t

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

Sichuan Road & Bridge GroupLtd

Market Cap: CN¥74.8b

Engages in the investment, development, construction, and operation of engineering construction, clean energy, and mining and new materials in China and internationally.

Pentair

Market Cap: US$10.9b

Provides various water solutions in the United States, Western Europe, China, Latin America, the Middle East, Southeast Asia, Australia, and Canada.

Modine Manufacturing

Market Cap: US$10.7b

Designs, engineers, tests, manufactures, and sells mission-critical thermal solutions in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally.

Brenntag

Market Cap: €9.1b

Distributes chemicals and ingredients in Germany, the United States, the United Kingdom, China, Canada, Italy, Poland, France, and internationally.

MINEBEA MITSUMI

Market Cap: JP¥1.6t

Manufactures and supplies machinery components, electronic devices and components, automotive, and industrial machinery and home security business in Japan and internationally.

AtkinsRéalis Group

Market Cap: CA$14.6b

Provides professional services and project management, and capital investment services in the United Kingdom, Canada, the United States, Saudi Arabia, and internationally.

Nordex

Market Cap: €9.0b

Develops, manufactures, and distributes multi-megawatt onshore wind turbines in Europe, North America, Latin America, and internationally.

Sigenergy Technology

Market Cap: HK$81.0b

Develops and manufactures energy storage systems, inverters, and related smart energy solutions for residential, commercial, and industrial applications.

Trelleborg

Market Cap: SEK 97.0b

Provides engineered polymer solutions for seal, damp, and protect critical applications worldwide.

Ackermans & Van Haaren

Market Cap: €8.8b

Engages in marine engineering and contracting, private banking, real estate, energy and resources, and growth capital businesses worldwide.

Flowserve

Market Cap: US$10.1b

Designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific.

Shenzhen Megmeet Electrical

Market Cap: CN¥67.8b

Operates as an electrical automation company in China.

Oshkosh

Market Cap: US$9.7b

Provides purpose-built vehicles and equipment worldwide.

China Shipbuilding Industry Group Power

Market Cap: CN¥64.6b

China Shipbuilding Industry Group Power Co., Ltd.

Indutrade

Market Cap: SEK 90.6b

Manufactures, develops, and sells components, systems, and services to various industries worldwide.

Andritz

Market Cap: €8.0b

Engages in the provision of industrial machinery, equipment, and services in Europe, North America, South America, China, Asia, Africa, Australia, and internationally.

Finning International

Market Cap: CA$13.0b

Sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, the United Kingdom, Argentina, and internationally.