European microcaps · 14 exchanges · below €300M
European Microcap Screener
Filter European microcap stocks below €300M market cap by P/E, ROE, EV/EBITDA, dividend yield, margins, and more — across XETRA, Euronext Growth, First North, GPW, and 10 other European exchanges. Free, no account required.
Why European microcaps are the most underexplored segment in listed equities
Institutions are structurally excluded below €200M
Institutional investors managing billions cannot build meaningful positions in companies below €100–200M market cap without moving the price. This forces them to ignore the entire microcap segment — leaving it to individual investors who can act without market impact. The mispricing this creates is structural, not accidental.
Language barriers create an information discount
Most European microcap companies file in German, French, Swedish, Polish, or Italian — with no English translation. The majority of professional investors do not read these languages. The result is that companies with strong fundamentals trade at discounts simply because their reports are inaccessible to most analysts.
Alternative markets list 1,000+ companies outside international databases
Euronext Growth Paris, First North (Stockholm, Copenhagen, Helsinki), EGM Milan, GPW NewConnect, and BME Growth list hundreds of companies that never appear in Bloomberg, FactSet, or international screening tools. These are real, operating businesses — not penny stocks — with IFRS reporting and exchange oversight.
European microcaps trade at persistent discounts to US equivalents
Quality European microcaps — 10%+ ROE, growing revenues, positive free cash flow — routinely trade at 6–10x earnings while comparable US companies trade at 15–20x. The discount reflects perception, information asymmetry, and institutional exclusion. Not business quality.
The data is now screenable at scale
Five years ago, screening 1,000+ European microcaps by fundamentals required Bloomberg terminal access or custom data pipelines. Now the data exists, the tooling exists, and ScreenerHero aggregates it into one place. The opportunity has existed for decades; the tools to find it systematically are new.
Exchanges and alternative markets covered
Each exchange has a dedicated alternative or growth market where most microcaps are listed.
Germany
XETRA · Entry Standard & Scale Segment
Spain
BME · BME Growth (formerly MAB)
France
EPA · Euronext Growth Paris
Italy
BIT · EGM — Euronext Growth Milan
Poland
GPW · NewConnect
Sweden
STO · First North Growth Market
Norway
OSL · Euronext Expand
Netherlands
AMS · Euronext Growth Amsterdam
Denmark
CPH · First North Copenhagen
Finland
HEL · First North Helsinki
Belgium
EBR · Euronext Growth Brussels
Austria
VIE · Wiener Börse Mid & Small
Portugal
LIS · Euronext Growth Lisbon
Switzerland
SWX · SIX Mid & Small Segment
Run the European microcap screen now
Pre-filtered below €300M market cap across all 14 European exchanges. Add any fundamental or technical filter on top. Free, no login.
How to screen European microcap stocks
1. Define your market cap range
Set market cap maximum to €300M to capture the full European microcap universe. Narrow to below €100M if you want nanocap exposure. You can also set a minimum (e.g. €10M) to exclude shell companies and pre-revenue listings with no operating history.
2. Select your country or region
Choose one or more exchanges from the exchange filter to scope by country. Combining multiple exchanges (e.g. XETRA + EPA + BIT) lets you screen across multiple European microcap markets simultaneously. Leave blank to screen all 14 markets at once.
3. Filter for business quality
Apply ROE above 8% and positive profit margin to filter the profitable subset of the microcap universe. Adding debt/equity below 1.5 removes heavily leveraged names. This quality screen typically reduces the universe to 20–30% of microcaps — the ones worth deeper analysis.
4. Apply valuation filters
P/E, P/B, and EV/EBITDA filters surface companies at valuation discounts within your quality-filtered universe. Sort by EV/EBITDA ascending to find the cheapest profitable microcaps. Combining low EV/EBITDA with high ROE identifies the classic "quality at a discount" combination.
5. Check liquidity
Set a minimum average volume (20-day) that matches your position size. For microcaps, liquidity varies widely — a €5M daily volume microcap and a €50K daily volume microcap have completely different practical implications. Filter for a minimum that allows you to enter and exit without significant market impact.
Common questions
What is the market cap threshold for European microcap stocks?
The most commonly used threshold for European microcaps is below €300M market capitalisation. Some definitions use €100M–€300M as microcap and below €100M as nanocap. ScreenerHero lets you define any market cap range — use the max filter set to 300,000,000 to target the microcap segment across all exchanges.
Why is European microcap data less complete than large cap data?
Microcap companies file financial statements with their local exchange but are not required to publish English translations or provide data to international financial data aggregators. Coverage gaps are most common for the smallest and least liquid names. ScreenerHero shows data availability inline — you always know which fields are present before making a decision.
Does ScreenerHero cover Euronext Growth and First North alternative markets?
Yes — Euronext Growth (Paris, Brussels, Amsterdam, Lisbon), Nasdaq First North (Stockholm, Copenhagen, Helsinki), Euronext Growth Milan (EGM), GPW NewConnect (Warsaw), and BME Growth (Spain) are all part of the coverage universe. These alternative markets are where the majority of European microcaps are listed.
How do I find liquid microcap stocks in Europe?
Liquidity varies significantly across European microcaps. Use the average volume filter (avg_volume_20d) with a minimum that suits your position size — a good starting point is 20,000 shares or €50,000 average daily turnover. This filters out the most illiquid names while keeping a useful microcap universe for individual investors.
Can I screen European microcaps by country and fundamentals at the same time?
Yes — ScreenerHero supports combining any filters simultaneously. Select one or more exchanges (countries) in the exchange filter, set market cap maximum to €300M, then layer on fundamental filters like ROE, P/E, EV/EBITDA, profit margin, and dividend yield. Results update inline without page reloads.
European microcaps. Serious screener. Free.
The segment that institutions cannot access. The exchanges that most screeners ignore. Below €300M across 14 European markets — dense tables, fast filters, no account needed. Premium at €25/mo adds alerts and exports.