U.S. Capital Goods Undervalued over 20% based on DCF

Boeing

Market Cap: US$171.9b

Designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide.

Lockheed Martin

Market Cap: US$118.6b

An aerospace and defense company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services in the United States, Europe, Asia, the Middle East, and internationally.

3M

Market Cap: US$83.7b

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

TransDigm Group

Market Cap: US$68.9b

Designs, produces, and supplies aircraft components in the United States and internationally.

Bloom Energy

Market Cap: US$68.1b

Designs, manufactures, sells, and installs solid oxide fuel cell systems for on-site power generation in the United States and internationally.

Honeywell Aerospace

Market Cap: US$67.4b

Manufactures and supplies aircraft components, avionics, engines, and systems for airframe manufacturing, commercial airline, military and defense, business aviation, and space markets, as well as other markets in the aerospace industry.

PACCAR

Market Cap: US$64.8b

Designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Australia, Mexico, Europe, Central and South America, and internationally.

Comfort Systems USA

Market Cap: US$61.0b

Provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States.

Carrier Global

Market Cap: US$57.1b

Provides intelligent climate and energy solutions in the United States, Europe, the Asia Pacific, and internationally.

L3Harris Technologies

Market Cap: US$53.4b

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

EMCOR Group

Market Cap: US$34.2b

Provides electrical and mechanical construction and facilities, building, and industrial services in the United States and the United Kingdom.

Sunbelt Rentals Holdings

Market Cap: US$29.9b

Engages in the construction, industrial, and general equipment rental business under the Sunbelt Rentals brand name in the United States, the United Kingdom, and Canada.

Otis Worldwide

Market Cap: US$27.7b

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

Symbotic

Market Cap: US$26.3b

An automation technology company, develops technologies to enhance operating efficiencies in modern warehouses.

FTAI Aviation

Market Cap: US$21.9b

Owns, acquires, and sells aviation equipment for the transportation of goods and people worldwide.

Sterling Infrastructure

Market Cap: US$20.5b

Engages in the provision of e-infrastructure, transportation, and building solutions in the United States.

APi Group

Market Cap: US$17.8b

Provides fire and life safety, security, elevator and escalator, and specialty services worldwide.

ITT

Market Cap: US$17.4b

Manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets.

IDEX

Market Cap: US$16.5b

Provides applied solutions in the United States, North America, Europe, Asia, and internationally.

Textron

Market Cap: US$15.4b

Operates in the aircraft, defense, industrial, and finance businesses worldwide.

Watsco

Market Cap: US$14.9b

Engages in the distribution of air conditioning, heating, and refrigeration equipment, and related parts and supplies in the United States, Canada, Latin America, and the Caribbean.

Carlisle Companies

Market Cap: US$13.9b

Operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, and internationally.

Lincoln Electric Holdings

Market Cap: US$13.9b

Through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally.

Stanley Black & Decker

Market Cap: US$13.7b

Provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia.

Generac Holdings

Market Cap: US$13.3b

Designs, manufactures, and distributes energy technology products and solutions worldwide.

Huntington Ingalls Industries

Market Cap: US$10.9b

Designs, builds, overhauls, and repairs military ships in the United States.

SPX Technologies

Market Cap: US$10.9b

Engages in the supply of engineered solutions serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets in the United States, Canada, China, the United Kingdom, and internationally.

Pentair

Market Cap: US$10.3b

Provides various water solutions in the United States, Western Europe, China, Latin America, the Middle East, Southeast Asia, Australia, and Canada.

Acuity

Market Cap: US$9.9b

Provides lighting, lighting controls, building management system, and an audio, video, and control platform in the United States and internationally.

Timken

Market Cap: US$9.7b

Designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally.

AAON

Market Cap: US$9.3b

Engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada.

StandardAero

Market Cap: US$9.2b

Provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the United States, Canada, the United Kingdom, Rest of Europe, Asia, and internationally.

Oshkosh

Market Cap: US$9.1b

Provides purpose-built vehicles and equipment worldwide.

AGCO

Market Cap: US$8.3b

Manufactures and distributes agricultural equipment and replacement parts worldwide.

A. O. Smith

Market Cap: US$8.3b

Manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.

Hexcel

Market Cap: US$7.7b

Develops, manufactures, and markets advanced lightweight composites technology.