AROA BIOSURGERY LIMITED (ARX)
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ARX

ARX - AROA BIOSURGERY LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: March
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 6.8
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.505

13 Jun
2025

0.005

OPEN

$0.50

1.00%

HIGH

$0.51

212,206

LOW

$0.50

TARGET
$0.81 60.4% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
ARX: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 1.0 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 50.3 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-1.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx77.1 M
Book Value Per Share xxxxxxxxxxxxxxx24.5
Net Operating Cash Flow xxxxxxxxxxxxxxx-2.3 M
Net Profit Margin xxxxxxxxxxxxxxx-4.50 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-4.04 %
Return on Invested Capital xxxxxxxxxxxxxxx-3.81 %
Return on Assets xxxxxxxxxxxxxxx-3.46 %
Return on Equity xxxxxxxxxxxxxxx-4.04 %
Return on Total Capital xxxxxxxxxxxxxxx-3.96 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-4.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx5 M
Total Debt xxxxxxxxxxxxxxx6 M
Goodwill - Gross xxxxxxxxxxxxxxx5 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx20 M
Price To Book Value xxxxxxxxxxxxxxx1.73

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx3.4 M
Capex % of Sales xxxxxxxxxxxxxxx4.37 %
Cost of Goods Sold xxxxxxxxxxxxxxx11 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx70 M
Research & Development xxxxxxxxxxxxxxx9 M
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

30/05/2025

1

Speculative Buy

$0.77

52.48%

Aroa Biosurgery delivered FY25 results at the top end of guidance, with revenue of NZ$84.7m and normalised earnings (EBITDA) of NZ$4.2m, both slightly ahead of Morgans' expectations.

Guidance for FY26 was set conservatively, believes the broker, with revenue of NZ$92-100m and EBITDA of NZ$5-8m, below consensus but considered achievable by the analysts.

Morgans highlights Myriad was a standout performer in FY25, with 38% growth, and is expected to drive profitability with more than 25% growth forecast for FY26. The broker models a more bullish 45% rise.

R&D spend continues to decline as a proportion of revenue, now at 13%, and over 100 peer-reviewed studies have validated the ECM platform (designed to promote soft tissue repair and regeneration).

Morgans has downgraded FY26-28 earnings forecasts and cut its target to 77c from 93c after the analysts revise down the FY26 forecast to sit at the upper end of the guidance range.

Morgans retains a Speculative Buy rating, citing attractive relative valuation and potential for M&A in the wound care space.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.09 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.28 cents.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Wilsons

01/05/2025

1

Overweight

$0.75

48.51%

Aroa Biosurgery closed FY25 with solid sales and positive cash flow in a highly competitive wound care and reconstructive surgery market, according to Wilsons.

Q4 cash receipts of NZ$20.1m and FY25 revenue guidance of NZ$81–84m were in line with expectations, with earnings (EBITDA) guided at NZ$2–4m.

Operating cash flow was positive for a second consecutive quarter, and Aroa ended the period with NZ$22m in cash and no debt.

Wilsons forecasts 14% year-on-year growth in OviTex and 39% for Myriad, with minimal impact from US tariffs at around -1.5% of net revenue.

The analyst's FY25–27 earnings estimates are unchanged apart from FX adjustments. The stock is viewed as undervalued. Overweight rating maintained with 75c target price.

FORECAST
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.18 cents.

Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Extra Coverage Research History >

ARX STOCK CHART

FNArena News on ARX

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 06-06-25

Jun 06 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jun 04, 2025

Jun 04 2025 - Daily Market Reports
3
FNArena Corporate Results Monitor – 30-05-2025

May 30 2025 - Australia
4
Weekly Ratings, Targets, Forecast Changes – 09-05-25

May 12 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports

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