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

Timken

Market Cap: US$9.5b

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

Modine Manufacturing

Market Cap: US$9.5b

Designs, engineers, tests, manufactures, and sells mission-critical thermal solutions in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally.

SPX Technologies

Market Cap: US$9.4b

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.

Oshkosh

Market Cap: US$8.8b

Provides purpose-built vehicles and equipment worldwide.

Valmont Industries

Market Cap: US$8.8b

Operates as a manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally.

A. O. Smith

Market Cap: US$8.6b

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.

AGCO

Market Cap: US$8.4b

Manufactures and distributes agricultural equipment and replacement parts worldwide.

Hexcel

Market Cap: US$8.0b

Develops, manufactures, and markets advanced lightweight composites technology.

Armstrong World Industries

Market Cap: US$7.4b

Engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas.

Builders FirstSource

Market Cap: US$7.3b

Provides building materials for professional builders in new residential construction and repair, and remodeling in the United States.

AeroVironment

Market Cap: US$7.2b

A defense technology provider, designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally.

AAON

Market Cap: US$7.0b

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

Legence

Market Cap: US$6.5b

Provides engineering, installation, and maintenance services for mission-critical systems in buildings in the United States.

EnerSys

Market Cap: US$6.4b

Engages in the provision of stored energy solutions for industrial applications worldwide.

Gates Industrial

Market Cap: US$6.3b

Manufactures and sells engineered power transmission and fluid power solutions in the United States, rest of North America, South America, the United Kingdom, Luxembourg, rest of Europe, the Middle East, Africa, India, East Asia, and Greater China.

Middleby

Market Cap: US$6.0b

Operates in the foodservice industry worldwide.

Fortune Brands Innovations

Market Cap: US$5.9b

Provides home, security, and digital products for residential home repair, remodeling, new construction, and security applications in the United States and internationally.

SOLV Energy

Market Cap: US$5.9b

Provides infrastructure services to the power industry in the United States.

Construction Partners

Market Cap: US$5.8b

A civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas.

Resideo Technologies

Market Cap: US$5.4b

Develops, manufactures, sells, and distributes comfort, energy management, and safety and security solutions in the United States, Europe, and internationally.

Granite Construction

Market Cap: US$5.2b

Provides infrastructure solutions for public and private clients in the United States.

Herc Holdings

Market Cap: US$4.8b

Operates as an equipment rental supplier in the United States and internationally.

Xometry

Market Cap: US$4.6b

Operates an artificial intelligence (AI) powered online manufacturing marketplace in the United States and internationally.

Trex Company

Market Cap: US$4.4b

Manufactures and sells composite decking and railing products in the United States.

Atmus Filtration Technologies

Market Cap: US$4.1b

Designs, manufactures, and sells filtration products under the Fleetguard brand in the United States and internationally.

SiteOne Landscape Supply

Market Cap: US$4.1b

Engages in the wholesale distribution of landscape supplies in the United States and Canada.

Primoris Services

Market Cap: US$4.1b

Provides infrastructure services primarily in the United States and Canada.

Tutor Perini

Market Cap: US$4.0b

A construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally.

Mueller Water Products

Market Cap: US$3.9b

Manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Canada, and internationally.

CECO Environmental

Market Cap: US$3.8b

Provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions in the United States, the United Kingdom, the Netherlands, China, and internationally.

Worthington Enterprises

Market Cap: US$2.7b

Operates as an industrial manufacturing company.

Centuri Holdings

Market Cap: US$2.5b

Operates as a utility infrastructure services company in North America.

DXP Enterprises

Market Cap: US$2.3b

Engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States, Canada, and internationally.

Blue Bird

Market Cap: US$2.3b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

Fluence Energy

Market Cap: US$2.2b

Through its subsidiaries, provides energy storage and optimization software for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

Midera Food Processing

Market Cap: US$2.1b

Manufactures preparation, cooking, packaging food handling and food safety equipment for the food processing industry in United States and Internationally.