The Australian market is navigating a period of volatility following the Federal Reserve's decision to cut interest rates in the U.S., with local shares trending downward and futures for the ASX 200 suggesting a slight loss at open. Despite these broader market fluctuations, penny stocks remain an intriguing area for investors seeking growth opportunities at lower price points. Often representing smaller or newer companies, these stocks can offer significant potential when backed by strong financials, making them worth watching even amid uncertain times.
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 > |
| Dusk Group (ASX:DSK) | A$0.815 | A$50.75M | ✅ 4 ⚠️ 2 View Analysis > |
| IVE Group (ASX:IGL) | A$2.65 | A$409.76M | ✅ 4 ⚠️ 3 View Analysis > |
| MotorCycle Holdings (ASX:MTO) | A$3.50 | A$258.32M | ✅ 4 ⚠️ 2 View Analysis > |
| Pureprofile (ASX:PPL) | A$0.041 | A$47.96M | ✅ 3 ⚠️ 1 View Analysis > |
| Veris (ASX:VRS) | A$0.075 | A$38.83M | ✅ 4 ⚠️ 2 View Analysis > |
| West African Resources (ASX:WAF) | A$3.04 | A$3.47B | ✅ 4 ⚠️ 1 View Analysis > |
| Praemium (ASX:PPS) | A$0.785 | A$375.39M | ✅ 5 ⚠️ 2 View Analysis > |
| Service Stream (ASX:SSM) | A$2.34 | A$1.43B | ✅ 3 ⚠️ 1 View Analysis > |
| MaxiPARTS (ASX:MXI) | A$2.50 | A$138.61M | ✅ 3 ⚠️ 2 View Analysis > |
Click here to see the full list of 433 stocks from our ASX Penny Stocks screener.
Let's take a closer look at a couple of our picks from the screened companies.
Mayne Pharma Group (ASX:MYX)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Mayne Pharma Group Limited is a specialty pharmaceutical company that commercializes women's health and dermatology products across Australia, New Zealand, the United States, Canada, Europe, Asia, and other international markets with a market cap of A$392.42 million.
Operations: The company's revenue is derived from Dermatology (A$154.09 million), International markets (A$75.64 million), and Women's Health (A$178.37 million).
Market Cap: A$392.42M
Mayne Pharma Group, with a market cap of A$392.42 million, reported full-year revenue of A$408.1 million but remains unprofitable with a net loss of A$93.84 million, though losses have narrowed from the previous year. The company trades at good value compared to peers and has stable weekly volatility at 6%. The board and management team are experienced, averaging over three years in tenure. Mayne Pharma has more cash than total debt and a sufficient cash runway for over three years based on current free cash flow, despite not covering its long-term liabilities fully with short-term assets.
- Navigate through the intricacies of Mayne Pharma Group with our comprehensive balance sheet health report here.
- Assess Mayne Pharma Group's future earnings estimates with our detailed growth reports.
Race Oncology (ASX:RAC)
Simply Wall St Financial Health Rating: ★★★★★☆
Overview: Race Oncology Limited is a clinical stage biopharmaceutical company dedicated to developing treatments for cancer patients, with a market cap of A$448.26 million.
Operations: The company generates revenue solely from its operations in Australia, amounting to A$6.04 million.
Market Cap: A$448.26M
Race Oncology, with a market cap of A$448.26 million, is currently pre-revenue and unprofitable, reporting a net loss of A$4.79 million for the year ended June 2025. Despite having no significant revenue streams yet, the company maintains a debt-free status and has short-term assets (A$15.0M) that exceed both its short and long-term liabilities. However, it faces challenges with less than a year of cash runway if current cash flow trends continue to decline. Recent events include discussions on breakthrough IP discoveries and presentations at various investor conferences in Australia.
- Click to explore a detailed breakdown of our findings in Race Oncology's financial health report.
- Explore Race Oncology's analyst forecasts in our growth report.
Service Stream (ASX:SSM)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Service Stream Limited is involved in the design, construction, operation, and maintenance of infrastructure networks across the telecommunications, utilities, and transport sectors in Australia with a market cap of A$1.43 billion.
Operations: The company's revenue is derived from three primary segments: Telecommunications (A$1.17 billion), Utilities (A$1.01 billion), and Transport (A$154.23 million).
Market Cap: A$1.43B
Service Stream Limited, with a market cap of A$1.43 billion, has demonstrated robust earnings growth of 83.2% over the past year and maintains a debt-free balance sheet. Its short-term assets (A$534.9 million) comfortably cover both its short and long-term liabilities, suggesting financial stability. The company is exploring strategic acquisitions to expand its service offerings, notably showing interest in acquiring UGL's transport division valued at A$1 billion. Despite an unstable dividend track record, recent increases in dividends reflect potential shareholder value enhancement efforts amidst ongoing M&A discussions that could significantly impact future growth trajectories.
- Click here and access our complete financial health analysis report to understand the dynamics of Service Stream.
- Gain insights into Service Stream's outlook and expected performance with our report on the company's earnings estimates.
Taking Advantage
- Click here to access our complete index of 433 ASX Penny Stocks.
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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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