POLYNOVO LIMITED (PNV)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

PNV

PNV - POLYNOVO LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 1.27
Index: 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

$1.03

27 Aug
2026

0.025

OPEN

$1.05

2.49%

HIGH

$1.17

5,914,277

LOW

$1.02

TARGET
$1.21

+0.07 change from previous day

 17.5% upside
OTHER COMPANIES IN THE SAME SECTOR
1AD . ACR . ACW . ADO . AFP . AGN . ARX . ATH . AVH . BIO . BOT . COV . CSL . CUV . DXB . GSS . HXL . IDT . ILA . IMM . IMU . IVX . LGP . MAP . MSB . MVP . MYX . NEU . NUZ . OCC . OSL . PAR . PER . PYC . RAC . RCE . SNT . SPL . TLX . TRP . VIT . ZNO .
FNARENA'S MARKET CONSENSUS FORECASTS
PNV: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 1.1 1.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx - 44.5% 47.8% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 66.4 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 © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx1.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx143.7 M
Book Value Per Share xxxxxxxxxxxxxxx13.1
Net Operating Cash Flow xxxxxxxxxxxxxxx23.2 M
Net Profit Margin xxxxxxxxxxxxxxx5.11 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx8.44 %
Return on Invested Capital xxxxxxxxxxxxxxx7.23 %
Return on Assets xxxxxxxxxxxxxxx5.62 %
Return on Equity xxxxxxxxxxxxxxx8.44 %
Return on Total Capital xxxxxxxxxxxxxxx10.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx9.4 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx3 M
Long Term Debt xxxxxxxxxxxxxxx15 M
Total Debt xxxxxxxxxxxxxxx18 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx35 M
Price To Book Value xxxxxxxxxxxxxxx7.01

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx13.8 M
Capex % of Sales xxxxxxxxxxxxxxx9.60 %
Cost of Goods Sold xxxxxxxxxxxxxxx97 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx37 M
Research & Development xxxxxxxxxxxxxxx5 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

Bell Potter

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

27/08/2026

1

Buy

$1.21

17.48%

Morgans maintains its Buy rating for PolyNovo with its target price reduced to $1.21 from $1.48 following an FY26 result where product sales grew 16.7% to $138.4m and underlying EBITDA rose 51% to $12.7m.

Operational performance faced headwinds from foreign exchange impacts and inventory reallocation ahead of upcoming FDA submissions, while gross margins adjusted to 89.0%.

The broker's model updates incorporate material downgrades to forecasts across the next three years to rebase cost bases and reflect higher depreciation from new production facilities.

The analyst highlights that underlying growth remains solid with NovoSorb MTX sales surging 92.7% in constant currency, supported by expanding hospital account penetration and key upcoming regulatory milestones.

FORECAST
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.70 cents.
Morgans forecasts a full year FY28 dividend of 0.00 cents and EPS of 3.30 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Canaccord Genuity

28/08/2026

3

Downgrade to Hold from Buy

$0.95

-7.77%

Canaccord Genuity downgrades to a Hold rating for PolyNovo with a $0.95 target price following an FY26 result featuring commercial sales growth of 21.3% to $138.4m.

Underlying EBITDA increased 50.4% to $13.4m, alongside strong operating cash flow of $23.1m, leaving the business with $35.4m in cash to fund key growth initiatives.

The analyst notes the company is transitioning from an early-adoption burns story into a broader wound-care platform, directing growth towards non-burn indications and deeper penetration of existing accounts.

Revenue forecasts remain largely unchanged, while EBITDA estimates improve marginally on lower research and development expense assumptions.

The broker believes the stock is exposed on valuation until the regulatory status receives an upgrade via the PMA approval pathway expected from FY28.
Access Extra Coverage Research History >

PNV STOCK CHART

FNArena News on PNV

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-08-26

Aug 28 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 28, 2026

Aug 28 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 27-08-2026

Aug 27 2026 - Australia
4
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
5
Weekly Ratings, Targets, Forecast Changes – 24-07-26

Jul 27 2026 - Weekly Reports

Latest Pharmaceuticals & Biotech/Lifesciences News

1
CSL’s FY26 Suggests The Downtrend Is Done

Aug 19 2026 - Australia
2
Strong Result, Can Telix Continue To Deliver?

Jul 22 2026 - Australia
3
CSL Challenges Pile On, Where’s The Upside?

May 13 2026 - Australia
4
The Biotech ‘Industrialisation’

Apr 20 2026 - Small Caps
5
Telix’ Double-Product Strategy On A Roll

Apr 10 2026 - Australia
6
Focus On Telix’ Guidance Post Annus Horribilis

Jan 22 2026 - Australia
7
Anti-Vaxxers & China Cloud CSL’s Future

Oct 31 2025 - Australia
8
Rudi Interviewed: Diary Of A Successful Investor

Oct 20 2025 - Rudi's View
9
Is CSL Starting Its Price Recovery?

Sep 30 2025 - Technicals
10
Undervalued ASX Gems In Precision Medicine

Sep 23 2025 - Small Caps