The Australian market is experiencing a "September breather," with ASX 200 futures pointing to a slight retreat, while Wall Street continues its bullish trend. Amidst these broader market movements, investors often turn their attention to penny stocks—an area that still holds potential despite being considered somewhat outdated. These smaller or newer companies can offer unique opportunities for growth, especially when they possess strong financials and clear growth paths.
Top 10 Penny Stocks In Australia
| Name | Share Price | Market Cap | Rewards & Risks |
| Alfabs Australia (ASX:AAL) | A$0.52 | A$149.03M | ✅ 4 ⚠️ 3 View Analysis > |
| EZZ Life Science Holdings (ASX:EZZ) | A$2.18 | A$102.84M | ✅ 3 ⚠️ 2 View Analysis > |
| Dusk Group (ASX:DSK) | A$0.83 | A$51.68M | ✅ 4 ⚠️ 2 View Analysis > |
| IVE Group (ASX:IGL) | A$2.79 | A$431.41M | ✅ 4 ⚠️ 2 View Analysis > |
| MotorCycle Holdings (ASX:MTO) | A$3.40 | A$250.94M | ✅ 4 ⚠️ 2 View Analysis > |
| Veris (ASX:VRS) | A$0.07 | A$36.24M | ✅ 4 ⚠️ 2 View Analysis > |
| SHAPE Australia (ASX:SHA) | A$4.48 | A$368.9M | ✅ 3 ⚠️ 1 View Analysis > |
| West African Resources (ASX:WAF) | A$3.04 | A$3.47B | ✅ 4 ⚠️ 1 View Analysis > |
| Tasmea (ASX:TEA) | A$4.41 | A$1.08B | ✅ 3 ⚠️ 2 View Analysis > |
| Praemium (ASX:PPS) | A$0.785 | A$375.39M | ✅ 5 ⚠️ 2 View Analysis > |
Click here to see the full list of 443 stocks from our ASX Penny Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
Cogstate (ASX:CGS)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Cogstate Limited is a neuroscience technology company focused on developing and commercializing digital brain health assessments for academic and industry-sponsored research, with a market cap of A$303.09 million.
Operations: Cogstate's revenue is derived from two main segments: Clinical Trials, including Precision Recruitment Tool & Research, which generated $50.58 million, and Healthcare, including Sport, contributing $2.51 million.
Market Cap: A$303.09M
Cogstate Limited, with a market cap of A$303.09 million, has shown robust financial health and growth as a penny stock. The company's short-term assets of $50.3M comfortably cover its liabilities, and it boasts no debt, enhancing its financial stability. Earnings have grown significantly over the past year by 86.1%, outpacing both its five-year average and industry peers. Recent developments include securing clinical trial contracts worth $14.1 million since July 2025 and reporting full-year revenue of US$53.09 million for fiscal 2025—a notable increase from the previous year—alongside improved profit margins and dividends declared at A$0.02 per share.
- Dive into the specifics of Cogstate here with our thorough balance sheet health report.
- Gain insights into Cogstate's future direction by reviewing our growth report.
King River Resources (ASX:KRR)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: King River Resources Limited, with a market cap of A$23.42 million, explores and develops mineral resources in Australia through its subsidiaries.
Operations: The company generates revenue primarily from its operations in Australia, amounting to A$0.17 million.
Market Cap: A$23.42M
King River Resources Limited, with a market cap of A$23.42 million, remains pre-revenue with A$0.17 million in sales and is currently unprofitable, reporting a net loss of A$6.14 million for the year ended June 30, 2025. The company has reduced its losses over five years by approximately 20.8% annually and maintains a debt-free status while its short-term assets exceed both short and long-term liabilities significantly. Despite high volatility in share price and weekly returns surpassing most Australian stocks, King River's recent completion of a share buyback suggests strategic financial management to enhance shareholder value amidst challenging earnings performance.
- Navigate through the intricacies of King River Resources with our comprehensive balance sheet health report here.
- Understand King River Resources' track record by examining our performance history report.
K&S (ASX:KSC)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: K&S Corporation Limited operates in the transportation and logistics, warehousing, and fuel distribution sectors across Australia and New Zealand, with a market cap of A$470.75 million.
Operations: The company's revenue is derived from several segments, including Australian Transport (A$520.93 million), New Zealand Transport (A$76.85 million), and Fuel (A$197.48 million).
Market Cap: A$470.75M
K&S Corporation Limited, with a market cap of A$470.75 million, has demonstrated financial stability despite recent challenges. The company's earnings have grown consistently over the past five years, though it faced negative earnings growth in the last year. K&S's short-term assets exceed its short-term liabilities but fall short of covering long-term liabilities. Its debt is well-managed with an improving debt-to-equity ratio and satisfactory net debt levels. Recent executive changes include the departure of CFO Raunak Parikh, which may impact future financial strategies. Despite a slight decline in revenue and net income compared to last year, dividends remain affirmed at A$0.08 per share for shareholders.
- Click here and access our complete financial health analysis report to understand the dynamics of K&S.
- Review our historical performance report to gain insights into K&S' track record.
Next Steps
- Click this link to deep-dive into the 443 companies within our ASX Penny Stocks screener.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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