Global Undervalued over 20% based on DCF

Archer-Daniels-Midland

Market Cap: US$33.6b

Provides human and animal nutrition ingredients and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

ORIX

Market Cap: JP¥5.3t

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

Iron Mountain

Market Cap: US$33.3b

A global leader in information management services, and is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds.

Kenvue

Market Cap: US$33.1b

Operates as a consumer health company in the United States, rest of North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America.

Amrize

Market Cap: CHF 25.9b

Engages in the provision of various building solutions for infrastructure, commercial, and residential construction markets in North America.

Swiss Life Holding

Market Cap: CHF 25.8b

Provides life, pensions, and financial solutions for private and corporate clients.

Hewlett Packard Enterprise

Market Cap: US$32.9b

Develops intelligent solutions in the United States, the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and internationally.

M&T Bank

Market Cap: US$32.9b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

CTBC Financial Holding

Market Cap: NT$1.0t

Engages in corporate and personal finance, life insurance, and other businesses in Taiwan, Asia, and North America.

Daiichi Sankyo Company

Market Cap: JP¥5.2t

Manufactures and sells pharmaceutical products in Japan, the United States, Europe, and internationally.

Intact Financial

Market Cap: CA$44.9b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

DENSO

Market Cap: JP¥5.2t

Engages in the manufacture and sale of automotive parts in Japan, Rest of Asia, North America, Europe, and internationally.

Experian

Market Cap: UK£23.9b

Operates as a data and technology company in North America, Latin America, the United Kingdom, Ireland, Europe, the Middle East, Africa, and the Asia Pacific.

Ryanair Holdings

Market Cap: €27.2b

Provides scheduled-passenger airline services in Ireland, Italy, Spain, the United Kingdom, and internationally.

Shinhan Financial Group

Market Cap: ₩47.4t

Provides financial products and services in South Korea, Vietnam, and Japan.

Kimberly-Clark

Market Cap: US$32.1b

Manufactures and markets personal care products in the United States.

Vedanta

Market Cap: ₹3.0t

A diversified natural resources company, explores, extracts, and processes minerals, and oil and gas in India, Europe, China, the United States, Mexico, and internationally.

Paychex

Market Cap: US$32.0b

Provides human capital management solutions (HCM) for payroll, employee benefits, human resources (HR), and insurance services for small to medium-sized businesses in the United States, Europe, and India.

Waters

Market Cap: US$31.9b

Provides analytical workflow solutions in Asia, the Americas, and Europe.

Otis Worldwide

Market Cap: US$31.8b

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

CEZ a. s

Market Cap: Kč652.2b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Western, Central, and Southeastern Europe.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 24.6b

Engages in the development, manufacture, and sale of chocolate products worldwide.

Japan Post Holdings

Market Cap: JP¥4.9t

Provides postal, banking, and insurance services in Japan.

Imperial Brands

Market Cap: UK£22.8b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

Veolia Environnement

Market Cap: €25.9b

Designs and provides water, waste, and energy management solutions.

Hansoh Pharmaceutical Group

Market Cap: HK$238.5b

An investment holding company, engages in the research, development, production, and sale of pharmaceutical products in the People’s Republic of China.

Sika

Market Cap: CHF 23.8b

A specialty chemicals company, develops, produces, and sells systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry worldwide.

VICI Properties

Market Cap: US$30.3b

An S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.

H & M Hennes & Mauritz

Market Cap: SEK 278.1b

Provides clothing, accessories, footwear, cosmetics, home textiles, and homeware for women, men, and children worldwide.

Transurban Group

Market Cap: AU$42.2b

Engages in the development, operation, management, and maintenance of toll road networks in Australia and North America.

Dassault Aviation société anonyme

Market Cap: €25.6b

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

Tenaris

Market Cap: €25.5b

Manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Unimicron Technology

Market Cap: NT$944.7b

Engages in the manufacturing, processing, and sale of printed circuit boards, electrical equipment, electronic products, and integrated circuit product testing and burn-in systems in Taiwan, China, Asia, the Americas, and internationally.

Emaar Properties PJSC

Market Cap: د.إ109.4b

Engages in the property investment, development, and development management business in the United Arab Emirates and internationally.

Adani Enterprises

Market Cap: ₹2.8t

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