Global Retail Undervalued over 20% based on DCF

Amazon.com

Market Cap: US$2.8t

Engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally.

Alibaba Group Holding

Market Cap: US$272.2b

Through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses in the People's Republic of China and internationally.

MercadoLibre

Market Cap: US$97.5b

Operates online commerce platforms in Brazil, Mexico, Argentina, and internationally.

Sea

Market Cap: US$72.0b

Through its subsidiaries, operates as a technology company in Southeast Asia, Latin America, the rest of Asia, and internationally.

eBay

Market Cap: US$46.3b

Operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally.

JD.com

Market Cap: US$39.5b

Operates as a supply chain-based technology and service provider in the People’s Republic of China and Europe.

Coupang

Market Cap: US$29.6b

Owns and operates retail business through its mobile applications and internet websites in South Korea and internationally.

Pop Mart International Group

Market Cap: HK$195.4b

An investment holding company, designs, develops, and sells pop toys in the People’s Republic of China, Hong Kong, Macau, Taiwan, and internationally.

Genuine Parts

Market Cap: US$18.5b

Distributes automotive and industrial replacement parts.

Chow Tai Fook Jewellery Group

Market Cap: HK$133.6b

An investment holding company, manufactures and sells jewelry products in Mainland China, Hong Kong, Macau, and internationally.

Allegro.eu

Market Cap: zł44.1b

Operates a commerce platform for consumers in Poland, Czech Republic, Slovakia, Hungary, and internationally.

D'Ieteren Group

Market Cap: €9.4b

Operates as an investment company in Belgium, France, rest of Europe, and internationally.

Aritzia

Market Cap: CA$15.0b

Designs, develops, and sells apparels and accessories for women in the United States and Canada.

Empresas Copec

Market Cap: CL$8.6t

Operates in the natural resources and energy sectors in Chile and internationally.

El Puerto de Liverpool. de

Market Cap: Mex$137.1b

Operates a chain of department stores primarily in Mexico.

Avolta

Market Cap: CHF 6.4b

Operates as a travel retail company in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Etsy

Market Cap: US$7.4b

Operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, and internationally.

Gap

Market Cap: US$7.1b

Operates as an apparel retail company in the United States, Canada, Japan, Taiwan, and internationally.

Pool

Market Cap: US$6.8b

Distributes swimming pool supplies, equipment, related leisure, irrigation, and landscape maintenance products in the United States and internationally.

Global-E Online

Market Cap: US$6.8b

Provides direct-to-consumer cross-border e-commerce platform in Israel, the United Kingdom, the United States, and internationally.

Victoria's Secret

Market Cap: US$6.8b

Operates as a specialty retailer of women’s intimate, and other apparel and beauty products worldwide.

JB Hi-Fi

Market Cap: AU$7.6b

JB Hi-Fi Limited retails home consumer products.

Abercrombie & Fitch

Market Cap: US$4.8b

Through its subsidiaries, operates as an omnichannel retailer in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Groupe Dynamite

Market Cap: CA$6.5b

Designs, distributes, and sells women’s apparel under the Dynamite and Garage brand names in Canada, the United Kingdom, and the United States.

Pepkor Holdings

Market Cap: R75.3b

Operates as a retailer in Angola, Botswana, Brazil, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, and Zambia.

Eagers Automotive

Market Cap: AU$6.3b

Owns and operates motor vehicle dealerships in Australia and New Zealand.

ABC-MartInc

Market Cap: JP¥691.7b

Engages in the retailing of shoes, clothing, and general merchandise products for men, women, and kids in Japan.

SHIMAMURA

Market Cap: JP¥691.2b

Engages in the sale of clothing and fashion related products in Japan and Taiwan.

Mobile World Investment

Market Cap: ₫110.1t

Engages in trading, repair and maintenance services of mobile phones, information technology equipment, and related accessories in Vietnam.

Jumbo

Market Cap: €3.5b

Engages in the retail sale of toys, infant supplies, seasonal items, home products, decoration items, books, and stationery in Greece, Cyprus, Bulgaria, and Romania.

Harvey Norman Holdings

Market Cap: AU$5.6b

Engages in the integrated retail, franchise, property, and digital system businesses.

Bath & Body Works

Market Cap: US$3.9b

Operates as a specialty retailer of personal care and home fragrance products.

Fielmann Group

Market Cap: €3.3b

Engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.

Dunelm Group

Market Cap: UK£1.8b

Engages in the retail of homewares in the United Kingdom.

HORNBACH Baumarkt

Market Cap: €2.0b

Operates as a do-it-yourself (DIY) retail company in Germany, Austria, the Czech Republic, Luxembourg, the Netherlands, Romania, Slovakia, Sweden, Switzerland, and Serbia.

Com7

Market Cap: ฿70.7b

Engages in the retail business of information technology (IT) products in Thailand.