POLYNOVO LIMITED (PNV)
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PNV

PNV - POLYNOVO LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 3.94
Index: ASX200 | ASX300 | ALL-ORDS

PolyNovo is an Australian medical devices company developing and commercialising its NovoSorb technology for the treatment of burns, wounds and negative pressure wound therapy. It has been a listed company since 1998.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.305

23 May
2025

-0.005

OPEN

$1.31

-0.38%

HIGH

$1.32

1,507,695

LOW

$1.28

TARGET
$2.163 65.8% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
PNV: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 0.8 1.2 xxx
DPS (cps) xxx N/A 0.0 xxx
EPS Growth xxx N/A 53.5% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 111.9 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx0.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx103.2 M
Book Value Per Share xxxxxxxxxxxxxxx10.4
Net Operating Cash Flow xxxxxxxxxxxxxxx5.1 M
Net Profit Margin xxxxxxxxxxxxxxx5.10 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.65 %
Return on Invested Capital xxxxxxxxxxxxxxx6.40 %
Return on Assets xxxxxxxxxxxxxxx5.21 %
Return on Equity xxxxxxxxxxxxxxx7.65 %
Return on Total Capital xxxxxxxxxxxxxxx1.38 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2.2 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx13 M
Total Debt xxxxxxxxxxxxxxx15 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx46 M
Price To Book Value xxxxxxxxxxxxxxx23.45

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx2.9 M
Capex % of Sales xxxxxxxxxxxxxxx2.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx67 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx35 M
Research & Development xxxxxxxxxxxxxxx11 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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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

11/04/2025

1

Buy

$2.00

53.26%

Bell Potter models a minor impact to PolyNovo from the 10% tariff on exports to the US, expecting a -$0.6m pre-tax effect in 2026, with no impact in 2025 due to existing inventory.

The broker's forecast earnings (EBITDA) are reduced by -3% in 2026 and 2027, with profit lowered by -5% in both years.

Although the earnings impact from tariffs is minimal, the broader analysts note a market re-rating prompts a revision to the broker's valuation, with the price target reduced to $2.00 from $2.80. A Buy rating is retained.

FORECAST
Bell Potter forecasts a full year FY25 EPS of 0.90 cents.
Bell Potter forecasts a full year FY26 EPS of 1.70 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Wilsons

20/05/2025

3

Market Weight

$1.62

24.14%

PolyNovo reported 3Q25 revenue of $30.3m, up 36% year-on-year, with US sales up 34% in constant currency, though both missed Wilsons' expectations.

The analyst says productivity per sales rep remains stable despite account onboarding growth, and the new MTX product contributed $3.8m year-to-date.

Commentary highlights rest of the world sales rose 12.7%, with India showing early promise and the UK delivering 62% growth, while Europe remained softer.

Polynovo also reported early encouraging outcomes from its Beta Cell collaboration for type 1 diabetes, with evidence of graft function and glycaemic improvement, the broker notes.

Market Weight rating maintained, with target price lowered to $1.62 from $1.85. FY25–27 forecasts trimmed slightly.

FORECAST
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.30 cents.
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.00 cents.
Access Extra Coverage Research History >

PNV STOCK CHART

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