Global Undervalued over 20% based on DCF

Bank of Nova Scotia

Market Cap: CA$124.2b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Chugai Pharmaceutical

Market Cap: JP¥14.3t

Engages in the research, development, manufacture, sale, importation, and exportation of pharmaceuticals in Japan and internationally.

PNC Financial Services Group

Market Cap: US$89.2b

Operates as a diversified financial services company in the United States.

Williams Companies

Market Cap: US$89.0b

Operates as an energy infrastructure company primarily in the United States.

CaixaBank

Market Cap: €74.7b

Provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally.

United Parcel Service

Market Cap: US$86.4b

A package delivery and logistics provider, offers transportation and delivery services.

U.S. Bancorp

Market Cap: US$86.4b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

Midea Group

Market Cap: CN¥574.9b

Engages in the manufacture and sale of electrical appliance in China and internationally.

Tokio Marine Holdings

Market Cap: JP¥13.3t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

American Tower

Market Cap: US$83.6b

American Tower Corporation is one of the largest global real estate investment trusts.

Eni

Market Cap: €70.4b

Operates as an integrated energy company in Italy, Other European Union, Rest of Europe, the United States, Asia, Africa, and internationally.

América Móvil. de

Market Cap: Mex$1.4t

Provides telecommunications services in Latin America and internationally.

Marsh & McLennan Companies

Market Cap: US$81.4b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Rheinmetall

Market Cap: €67.9b

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

Lloyds Banking Group

Market Cap: UK£59.0b

Provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.

Oversea-Chinese Banking

Market Cap: S$100.8b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

3M

Market Cap: US$78.5b

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

SLB

Market Cap: US$77.9b

Engages in the provision of technology for the energy industry worldwide.

Airbnb

Market Cap: US$77.3b

Operates a platform for stays, experiences, and services worldwide.

Gazprom

Market Cap: ₽4.7t

Public Joint Stock Company Gazprom, an integrated energy company, engages in the geological exploration, production, processing, storage, transportation, and sale of gas, gas condensates, and oil in Russia and internationally.

Suncor Energy

Market Cap: CA$106.0b

Operates as an integrated energy company in Canada, the United States, and internationally.

Simon Property Group

Market Cap: US$76.3b

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”).

Mondelez International

Market Cap: US$75.7b

Through its subsidiaries, manufactures, markets, and sells snack food and beverage products in Latin America, North America, Asia, the Middle East, Africa, and Europe.

Carvana

Market Cap: US$74.2b

Operates an e-commerce platform for buying and selling used cars.

Kinder Morgan

Market Cap: US$72.7b

Operates as an energy infrastructure company primarily in North America.

NetEase

Market Cap: HK$565.2b

Engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China 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.

Valero Energy

Market Cap: US$71.4b

Manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally.

General Motors

Market Cap: US$69.1b

Designs, builds, and sells trucks, crossovers, cars, and automobile parts worldwide.

ADNOC Gas

Market Cap: د.إ251.6b

Engages in the processing of associated and non-associated gas from onshore oil and gas productions and transmission of related products in the United Arab Emirates.

Colgate-Palmolive

Market Cap: US$67.7b

Manufactures and sells consumer products in the United States and internationally.

Aon

Market Cap: US$67.0b

Operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific.

Japan Tobacco

Market Cap: JP¥10.6t

A tobacco company, engages in the manufacture and sale of tobacco products in Japan and internationally.

Digital Realty Trust

Market Cap: US$66.1b

Digital Realty Trust, Inc. (Digital Realty or the company) owns, acquires, develops, and operates data centers through its operating partnership subsidiary, Digital Realty Trust, L.P.

L3Harris Technologies

Market Cap: US$66.0b

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

Marathon Petroleum

Market Cap: US$65.6b

Operates as an integrated downstream energy company in the United States.