3 European Penny Stocks With Market Caps Up To €200M

Simply Wall St

As the pan-European STOXX Europe 600 Index recently edged up by 1.40%, buoyed by optimism around potential U.S. rate cuts, European markets have shown a resilient performance amid fluctuating global economic conditions. Penny stocks, though often seen as relics of past market trends, continue to present intriguing investment opportunities due to their potential for growth and affordability. In this article, we explore three European penny stocks that stand out for their robust financial health and promising prospects in today's evolving market landscape.

Top 10 Penny Stocks In Europe

NameShare PriceMarket CapRewards & Risks
Mistral Iberia Real Estate SOCIMI (BME:YMIB)€1.05€22.87M✅ 2 ⚠️ 5 View Analysis >
Lucisano Media Group (BIT:LMG)€1.06€15.75M✅ 3 ⚠️ 4 View Analysis >
Maps (BIT:MAPS)€3.40€45.16M✅ 4 ⚠️ 2 View Analysis >
Angler Gaming (NGM:ANGL)SEK3.60SEK269.95M✅ 4 ⚠️ 2 View Analysis >
Angler Gaming (DB:0QM)€0.37€247.45M✅ 2 ⚠️ 2 View Analysis >
IAMBA Arad (BVB:FERO)RON0.498RON16.84M✅ 2 ⚠️ 4 View Analysis >
Cellularline (BIT:CELL)€3.18€67.07M✅ 4 ⚠️ 2 View Analysis >
ForFarmers (ENXTAM:FFARM)€4.855€429.11M✅ 4 ⚠️ 1 View Analysis >
Deceuninck (ENXTBR:DECB)€2.105€290.95M✅ 4 ⚠️ 1 View Analysis >
Netgem (ENXTPA:ALNTG)€0.93€31.36M✅ 4 ⚠️ 2 View Analysis >

Click here to see the full list of 345 stocks from our European Penny Stocks screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Solwers Oyj (HLSE:SOLWERS)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Solwers Oyj offers design and project management services across Finland, Sweden, and Poland, with a market cap of €25.43 million.

Operations: The company generates revenue of €78.28 million from its engineering services segment.

Market Cap: €25.43M

Solwers Oyj, with a market cap of €25.43 million and revenue of €78.28 million, is trading significantly below its estimated fair value but faces challenges such as negative earnings growth and low return on equity at 2.9%. The company reported a net loss for H1 2025 despite increased sales compared to the previous year, highlighting volatility in profit margins which have declined from 4.8% to 1.5%. While debt levels have improved over time, operating cash flow coverage remains weak. Recent leadership changes may bring new strategies to address these issues amidst stable weekly volatility.

HLSE:SOLWERS Revenue & Expenses Breakdown as at Aug 2025

Arbona (NGM:ARBO A)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Arbona AB (publ) is an investment company focusing on small and medium-sized listed and unlisted companies in Sweden, with a market cap of SEK1.77 billion.

Operations: Arbona's revenue is primarily derived from three segments: Industry (SEK505.74 million), Transportation Technology (SEK120.59 million), and Properties (SEK9.88 million).

Market Cap: SEK1.77B

Arbona AB, with a market cap of SEK1.77 billion, trades at a significant discount to its estimated fair value. However, its Return on Equity is low at 9%, and recent financials were skewed by a large one-off gain of SEK162.3 million. The company has seen negative earnings growth over the past year and declining profit margins now at 27.5%. Despite these challenges, Arbona maintains satisfactory debt levels with net debt to equity at 0.2% and strong short-term asset coverage over liabilities. Operating cash flow comfortably covers its debt obligations, indicating robust liquidity management amidst stable weekly volatility.

NGM:ARBO A Financial Position Analysis as at Aug 2025

SolTech Energy Sweden (OM:SOLT)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: SolTech Energy Sweden AB (publ) develops, sells, and installs energy and solar cell solutions in Sweden and China with a market cap of SEK199.48 million.

Operations: SolTech Energy Sweden AB (publ) does not report specific revenue segments.

Market Cap: SEK199.48M

SolTech Energy Sweden AB, with a market cap of SEK199.48 million, is navigating financial challenges as it remains unprofitable with earnings declining by 32% annually over five years. The company has a satisfactory net debt to equity ratio of 23.3% and strong short-term asset coverage over liabilities, indicating prudent financial management despite limited cash runway under a year if growth continues at historical rates. Recent developments include an agreement for an 18 MWh battery park project in Södertälje with Nordic Solar, highlighting SolTech's strategic focus on expanding its large-scale battery solutions within the renewable energy sector in Sweden.

OM:SOLT Debt to Equity History and Analysis as at Aug 2025

Make It Happen

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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