We ran a screen to find undervalued European stocks trading on US exchanges by looking at the levered-free cash flow to enterprise value ratio (LFCF/EV).The LFCF/EV ratio is essentially a ratio of the cash a company has on hand to an alternative measure of its size – the enterprise value. Enterprise value is similar to market capitalization, except it also takes into account a company's debt and liabilities.
2. Etablissements Delhaize Freres et Cie Le Lion S.A. ( DEG): Operates food supermarkets in North America, Europe, and southeast Asia. Market cap at $6.06B, most recent closing price at $60.0. Levered free cash flow at $978.31M vs. enterprise value at $9.00B (implies a LFCF/EV ratio at 10.87%).
3. Eni SpA ( E): Engages in the exploration, production, transportation, transformation, and marketing of oil and natural gas. Market cap at $86.44B, most recent closing price at $47.72. Levered free cash flow at $20.92B vs. enterprise value at $105.01B (implies a LFCF/EV ratio at 19.92%).