"Undervalued" is relative. To Google your skills might be worth $150k because you'd add $1.5m to their revenue. To the business you're in you may 'only' add $500k, so you're paid accordingly. You aren't undervalued so much as under-utilised - the company you're at isn't maximising the value they could get from you in the way Google could (or maybe they are; there is an upper limit). Either find a way to make a bigger impact on your company's bottom line, or change company.
To draw a startup analogy, if you decide you want to take 25% of an established $100m market that's unlikely to happen because that's really hard to do, so people don't value your startup as having a potential $25m revenue. But if you can think of a realistic way to grow that $100m market to being a $125m market then people will readily accept you potentially have a $25m revenue business. Same result, very different impact.
Within your company you need to grow the market for your skills.
To draw a startup analogy, if you decide you want to take 25% of an established $100m market that's unlikely to happen because that's really hard to do, so people don't value your startup as having a potential $25m revenue. But if you can think of a realistic way to grow that $100m market to being a $125m market then people will readily accept you potentially have a $25m revenue business. Same result, very different impact.
Within your company you need to grow the market for your skills.