Best ASX Under Valued Stocks to Buy in November

Investors looking for bargains will find the following ASX stocks to be undervalued heading into November as they show improving performance driven by disciplined execution.

James Hardie Industries plc (ASX: JHX)

is still one of the main names in global building materials and its latest update shows better operating momentum and good follow-through on its strategy. 

In its preliminary Q2 FY26 results, the company said net sales came around US$1.29–1.30 billion and Adjusted Net Income between US$151–157 million.

Management highlighted that the Siding and Trim division did better than they expected and The AZEK acquisition is helping drive mid-single-digit sales growth in Deck, Rail and Accessories.

Overall, fundamentals look better and James Hardie seems in pretty good shape for more recovery ahead.

Reckon Limited (ASX: RKN)

is a SaaS company that mainly works with small businesses, In the first half of FY2025 the company reported around $33 million revenue which is about 16% higher than last year. 

EBITDA also went up 21% to roughly $14 million and NPAT jumped 35% to $4 million. 

Now subscription revenue makes up almost 94% of total sales and the flagship platform Reckon One grew by 26%, showing good progress as people shift away from desktop products to cloud options.

The company has net debt of around $4.8 million and also paid a fully-franked 2.5 cents dividend in September 2025, showing it still prioritises shareholder rewards even while investing in growth.

Etherstack plc (ASX: ESK)

is building its name as a niche wireless communications tech provider and In H1 2025 they posted their best half year ever with around US$6.1 million revenue which is up 87% and EBITDA came in at about US$2.54 million, jumping over 1,500% from last year.

Net profit after tax also shifted to the positive side at US$1.29 million compared to a loss last year.

A big highlight during this time was signing a 7-year deal with AT&T after successfully rolling out the MCX Interworking Function for FirstNet public safety network. 

Cash balance improved a lot too as it rose to US$1.67 million from just US$0.14 million last year, helped by US$3.38 million operating cash inflow which shows improved financial position.

The a2 Milk Company Limited (ASX: A2M)

kept showing good performance across its dairy nutrition products globally in FY25 as revenue came in at around NZ$1.90 billion which is up 13.5% from last year and this growth mainly came from strong demand in infant formula and liquid milk in key markets like China, ANZ and even the US. 

Profit numbers also looked great with EBITDA up by 17.1% to NZ$274.3 million and net profit up 21.1% to NZ$202.9 million, helped by better margins.

China still is the biggest driver where the company reached around 8% market share in the infant formula segment and also became a top-four brand which shows the solid demand.

The company ended with a healthy balance sheet too, holding around NZ$1.06 billion in net cash which gives flexibility for future expansion and supply chain investments.

(Source: Company Announcements)