Italian Undervalued over 20% based on DCF

Eni

Market Cap: €44.7b

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

Recordati Industria Chimica e Farmaceutica

Market Cap: €10.4b

Researches, develops, produces, and sells pharmaceuticals in Italy, the United States, Spain, France, Germany, Russia, Ukraine, Turkey, Portugal, North Africa, and internationally.

Banca Monte dei Paschi di Siena

Market Cap: €9.5b

Engages in the provision of retail and commercial banking services in Italy.

Iveco Group

Market Cap: €4.9b

Engages in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses and specialty vehicles, combustion engines, alternative propulsion systems, transmissions, axles, engines, alternative propulsion systems, construction equipment, marine, and power generation applications in Europe, South America, North America, and internationally.

ACEA

Market Cap: €4.2b

Operates as a multi-utility company in Italy.

Maire

Market Cap: €4.0b

MAIRE S.p.A. develops and implements various solutions to enable the energy transition.

Amplifon

Market Cap: €3.3b

Engages in the distribution of hearing solutions and the fitting of customized products that helps people to rediscover various emotions of sound in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Danieli & C. Officine Meccaniche

Market Cap: €2.4b

Designs, builds, and sells plants for the iron and steel industry in Europe, Russia, the Middle East, the Americas, and South East Asia.

BFF Bank

Market Cap: €2.0b

Engages in non-recourse factoring and credit management activities towards public administration bodies and private hospitals in Italy, Croatia, the Czech Republic, France, Greece, Poland, Portugal, Slovakia, and Spain.

MFE-Mediaforeurope

Market Cap: €1.8b

Operates in the television industry in Italy and Spain.

Rai Way

Market Cap: €1.6b

Owns and operates television and radio transmission and broadcasting networks in Italy and internationally.

Ariston Holding

Market Cap: €1.6b

Through its subsidiaries, produces and distributes hot water and space heating solutions in the Netherlands, Germany, Italy, Switzerland, and internationally.

Banca IFIS

Market Cap: €1.3b

Provides financial services and solutions for enterprises.

Sanlorenzo

Market Cap: €1.0b

Designs, builds, and sells boats and pleasure boats in Italy, rest of Europe, the Asia-Pacific, the United States, the Middle East, and internationally.

SeSa

Market Cap: €1.0b

Distributes value-added information technology (IT) software and technologies in Italy and internationally.

Ascopiave

Market Cap: €676.4m

Engages in the distribution of natural gas in Italy.

Arnoldo Mondadori Editore

Market Cap: €524.3m

Engages in publishing of books and magazines in Italy, rest of Europe, and the United States.

Next Geosolutions Europe

Market Cap: €494.4m

Provides marine geoscience and offshore construction support services in Europe, Asia, and North America.

I.CO.P.. Società Benefit

Market Cap: €465.8m

Engages in providing construction and special engineering services to public and private clients in Italy and internationally.

Garofalo Health Care

Market Cap: €436.1m

Operates healthcare clinics in Italy.

Cairo Communication

Market Cap: €362.3m

Operates as a communication company in Italy and Spain.

A.L.A. società per azioni

Market Cap: €317.0m

Operates as a supply chain solutions provider to the aerospace and defense, and rail and high-tech sectors.

Powersoft

Market Cap: €253.7m

Engages in the design, production, and marketing of power amplifiers, loudspeaker components, and software in Italy and internationally.

eVISO

Market Cap: €220.7m

Develops an artificial intelligence platform for the commodities market in Italy.

Datalogic

Market Cap: €217.8m

Manufactures and sells automatic data capture and process automation products in Italy, the Americas, the Asia Pacific, rest of Europe, the Middle East, and Africa.

Esprinet

Market Cap: €204.2m

Engages in the wholesale distribution of information technology (IT) products and consumer electronics in Italy, Spain, Portugal, and rest of Europe.

Fine Foods & Pharmaceuticals N.T.M

Market Cap: €191.5m

Fine Foods & Pharmaceuticals N.T.M. S.p.A.

FNM

Market Cap: €179.6m

Engages in the railway mobility business in Italy.

Digital Bros

Market Cap: €178.3m

Develops, publishes, and distributes video games in Europe, the Americas, and internationally.

Gefran

Market Cap: €147.7m

Engages in the design, production, and sale of automation components and industrial sensors in Italy, Europe, North America, South America, Asia, and internationally.

Banca Sistema

Market Cap: €144.2m

Provides various business and retail banking products and services in Italy.

Altea Green Power

Market Cap: €140.8m

Provides renewable energy systems for individuals, companies, institutions and investors in Italy.

Racing Force

Market Cap: €129.3m

Engages in the production of safety equipment for the racing and motorsport industry in the Americas, Asia, Oceania, Europe, the Middle East, and Africa.

Indel B

Market Cap: €100.7m

Manufactures and supplies cooling and refrigeration system worldwide.

Almawave

Market Cap: €92.6m

Provides artificial intelligence (AI), natural language processing, and big data solutions in Italy.

Misitano & Stracuzzi

Market Cap: €87.7m

Engages in the production and marketing of citrus essential oils, citrus juices, and aromatic solutions in Italy, European Countries, and internationally.