Global Diversified Financials Undervalued over 20% based on DCF

Berkshire Hathaway

Market Cap: US$1.0t

Engages in the insurance, freight rail transportation, and utility businesses.

American Express

Market Cap: US$215.9b

Operates as an integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and internationally.

Charles Schwab

Market Cap: US$151.9b

Operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally.

Interactive Brokers Group

Market Cap: US$147.5b

Operates as an automated electronic broker in the United States and internationally.

Deutsche Bank

Market Cap: €52.4b

A stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, the rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa.

CITIC Securities

Market Cap: CN¥376.8b

Provides various financial products and services in China and internationally.

Block

Market Cap: US$45.1b

Block, Inc., together with its subsidiaries, builds ecosystems focused on commerce and financial products and services in the United States and internationally.

ORIX

Market Cap: JP¥6.9t

Provides financial services in Japan, the United States, Asia, Europe, and Australasia.

Adyen

Market Cap: €29.6b

Operates a payments platform in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America.

Raymond James Financial

Market Cap: US$27.9b

A diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe.

Partners Group Holding

Market Cap: CHF 21.3b

A private equity firm specializing in direct, secondary, and primary investments across private equity, private real estate, private infrastructure, and private debt.

Corpay

Market Cap: US$23.6b

Operates as a payments company that helps businesses and consumers to manage and pay their expenses. It operates through Corporate Payments, Vehicle Payments, Lodging Payments, and Other segments.

Nomura Holdings

Market Cap: JP¥3.8t

Engages in the provision of investment, financing, and related services to individual, institutional, and government clients worldwide.

T. Rowe Price Group

Market Cap: US$22.4b

A publicly owned investment manager.

LPL Financial Holdings

Market Cap: US$21.9b

Provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at institutions in the United States.

GF Securities

Market Cap: CN¥138.3b

Provides capital market services in China.

China International Capital

Market Cap: HK$151.7b

Provides financial services in Mainland China and internationally.

HAL Trust

Market Cap: €15.5b

Operates through multi-sectors in Asia, the Middle East, the Netherlands, the United States, Canada, and internationally.

Kaspi.kz

Market Cap: US$17.2b

Provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.

CVC Capital Partners

Market Cap: €14.4b

A private equity and venture capital firm specializing in middle market secondaries, infrastructure and credit, management buyouts, leveraged buyouts, growth equity, mature, recapitalizations, strip sales, and spinouts.

Julius Bär Gruppe

Market Cap: CHF 13.1b

Provides wealth management solutions in Switzerland, Europe, the Americas, Asia, and internationally.

China Galaxy Securities

Market Cap: HK$131.6b

Provides various financial services in China, Hong Kong, and internationally.

Annaly Capital Management

Market Cap: US$16.0b

A diversified capital manager, engages in the residential mortgage finance business.

Toast

Market Cap: US$15.1b

Operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, India, and internationally.

Power Finance

Market Cap: ₹1.4t

A non-banking finance company, provides financial products and related advisory services to the power, logistics, and infrastructure sectors in India.

DWS Group GmbH KGaA

Market Cap: €12.4b

Offers asset management services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Ally Financial

Market Cap: US$13.1b

A digital financial-services company, provides various digital financial products and services in the United States and Canada.

Invesco

Market Cap: US$12.6b

A publicly owned investment manager.

Corebridge Financial

Market Cap: US$12.3b

Provides retirement solutions and insurance products in the United States.

AGNC Investment

Market Cap: US$11.9b

Provides private capital to housing market in the United States.

SEI Investments

Market Cap: US$10.6b

A publicly owned asset management holding company.

M&G

Market Cap: UK£7.5b

Through its subsidiaries, provides investment and savings products to institutional clients and individual policyholders in the United Kingdom and internationally.

Houlihan Lokey

Market Cap: US$9.8b

An investment banking company, provides merger and acquisition (M&A), capital market, financial restructurings and liability management, and financial and valuation advisory services worldwide.

Jack Henry & Associates

Market Cap: US$9.7b

Operates as a financial technology company that connects people and financial institutions through technology solutions and payment processing services.

FactSet Research Systems

Market Cap: US$8.9b

Operates as a financial digital platform and enterprise solutions provider for the investment community.

XP

Market Cap: US$8.6b

Engages in the provision of financial products and services in Brazil.