3 ASX Penny Stocks With Over A$100M Market Cap

The Australian stock market is experiencing a mixed phase, with the ASX 200 expected to open slightly lower or flat following Wall Street's modest decline and despite a drop in oil prices. In such a fluctuating market, identifying stocks that balance affordability with growth potential becomes crucial. Penny stocks, often representing smaller or newer companies, can still offer unique opportunities for investors when backed by strong financial health.

Here's a peek at a few of the choices from the screener.

GreenX Metals (ASX:GRX)

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

Overview: GreenX Metals Limited focuses on the exploration and evaluation of mineral properties in Australia, with a market cap of A$309.13 million.

Operations: GreenX Metals Limited currently does not report any revenue segments.

Market Cap: A$309.13M

GreenX Metals Limited, with a market cap of A$309.13 million, is pre-revenue and focuses on mineral exploration in Australia. Despite being unprofitable with increasing losses over the past five years, the company has not diluted shareholders recently and remains debt-free. Its seasoned management and board bring stability, while short-term assets exceed liabilities, providing financial resilience. Recent developments include securing new exploration licenses at Eleonore North Project in Greenland targeting gold, tungsten, and antimony—materials critical to global supply chains amid geopolitical tensions. These strategic moves could enhance GreenX's long-term prospects despite current financial challenges.

• Click here to discover the nuances of GreenX Metals with our detailed analytical financial health report.
• Understand GreenX Metals' track record by examining our performance history report.

Hansen Technologies (ASX:HSN)

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

Overview: Hansen Technologies Limited specializes in the development, implementation, and support of billing and customer information systems, with a market cap of A$635.75 million.

Operations: The company generates revenue from two primary segments: Energy & Utilities, contributing A$202.31 million, and Communications & Media, accounting for A$184.18 million.

Market Cap: A$635.75M

Hansen Technologies Limited, with a market cap of A$635.75 million, is actively pursuing M&A opportunities to leverage its strong balance sheet and enhance shareholder returns. The company reported stable revenue of A$390.01 million for FY26, despite a slight decline from the previous year. Earnings grew by 10.2%, surpassing industry averages, while interest payments are well-covered by EBIT at 19.5x coverage. Hansen's debt-to-equity ratio improved to 18.7%, reflecting prudent financial management amidst volatile market conditions. Recent partnerships, like with InvoiceCloud, underscore Hansen's strategic focus on expanding its billing and customer engagement solutions through innovative integrations.

• Take a closer look at Hansen Technologies' potential here in our financial health report.
• Explore Hansen Technologies' analyst forecasts in our growth report.

Optiscan Imaging (ASX:OIL)

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

Overview: Optiscan Imaging Limited develops, manufactures, and commercialises endomicroscopic digital imaging technology solutions for medical, translational, and pre-clinical applications primarily in Germany and the United States, with a market cap of A$167.07 million.

Operations: The company generates A$3.61 million in revenue from its Confocal Endomicroscopes segment.

Market Cap: A$167.07M

Optiscan Imaging, with a market cap of A$167.07 million, is navigating its transition from technology development to commercialisation. Despite being unprofitable and generating only A$0.45 million in revenue for FY26, the company has launched InSpecta, a veterinary imaging device in the U.S., after FDA clearance. This strategic move into the veterinary sector opens new revenue streams and validates their imaging platform's adaptability across healthcare markets. With sufficient cash reserves exceeding liabilities and no significant shareholder dilution recently, Optiscan is positioned to leverage its proprietary technology in expanding diagnostic markets efficiently.

• Jump into the full analysis health report here for a deeper understanding of Optiscan Imaging.
• Learn about Optiscan Imaging's historical performance here.

Where To Now?

• Gain an insight into the universe of 399 ASX Penny Stocks by clicking here.
• Ready To Venture Into Other Investment Styles? Find companies with promising cash flow potential yet trading below their fair value.

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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