Italian Capital Goods Undervalued over 20% based on DCF

Leonardo

Market Cap: €30.1b

An industrial and technological company, engages in the helicopters, defense electronics and security, cyber security and solutions, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States of America, and internationally.

Danieli & C. Officine Meccaniche

Market Cap: €4.1b

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

Comer Industries

Market Cap: €1.3b

Designs and produces engineering systems and mechatronic solutions for power transmission applications in North America, Latin America, the Asia Pacific, Europe, the Middle East, and Africa.

Ariston Holding

Market Cap: €1.2b

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

Next Geosolutions Europe

Market Cap: €760.8m

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

Reway Group

Market Cap: €388.0m

Through its subsidiaries, engages in the road and motorway infrastructure rehabilitation activities in Italy.

Officina Stellare

Market Cap: €281.1m

Designs, produces, and sells telescopes, and optical and aerospace instruments worldwide.

EuroGroup Laminations

Market Cap: €162.7m

Engages in the design, production, and distribution of motor cores for electric motors and generators.

Technical Publications Service

Market Cap: €60.0m

Engages in the provision of engineering and digital services in Italy, EU Countries, and internationally.

Esautomotion

Market Cap: €37.6m

Develops, manufactures, and sells integrated CNC systems in Italy.

Ecomembrane

Market Cap: €23.6m

Manufactures and sells gasholders, gasholder domes, and PVC-coated fabric membrane covers in Italy, rest of Europe, and internationally.