POLYNOVO LIMITED (PNV)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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
$1.11 20 Aug 2025	-0.020 OPEN $1.12	-1.77% HIGH $1.13	3,763,817 LOW $1.08

TARGET

$2.047

84.4% upside

OTHER COMPANIES IN THE SAME SECTOR
1AD . ACR . ACW . ADO . AFP . AGH . AGN . ARX . AVH . BIO . BOT . CSL . CUV . DXB . EOF . GSS . HXL . IDT . IMM . IMU . IVX . LGP . MAP . MSB . MVP . MYX . NEU . NUZ . NXS . OCC . OPT . OSL . PAR . PER . PYC . RAC . RCE . SNT . SPL . TLX . TRP . VIT . ZNO .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	0.8	1.0	xxx
DPS (cps)	xxx	N/A	0.0	xxx
EPS Growth	xxx	N/A	27.2%	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	116.9	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

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	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	0.8
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	103.2 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	10.4
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	5.1 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	5.10 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	7.65 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	6.40 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	5.21 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	7.65 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	1.38 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	2.2 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	3 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	13 M
Total Debt	xxx	xxx	xxx	xxx	xxx	15 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	46 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	23.45

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	2.9 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	2.81 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	67 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	35 M
Research & Development	xxx	xxx	xxx	xxx	xxx	11 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Negative
Growth
Slowing

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
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
Morgans	07/07/2025	1	Speculative Buy	$1.69	52.25%	Morgans updated its model for PolyNovo ahead of FY25 result on August 25. The forecasts for FY25 are unchanged, with revenue of $129m in line with consensus. However, the broker cut the gross profit margin forecast to 91% from 94% and increased regulatory and new market development costs for FY26 and FY27. This resulted in cuts to the FY26 and FY27 EPS forecasts. Speculative Buy. Target price unchanged at $1.69 as the broker reduced the discount applied in valuation to 20% from 25%. FORECAST Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.20 cents. Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.50 cents.
Bell Potter	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Macquarie

xx/xx/xxxx

xxxxxxxxxx

$xx.xx

xx.xx%

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

Morgans

07/07/2025

Speculative Buy

$1.69

52.25%

Morgans updated its model for PolyNovo ahead of FY25 result on August 25.

The forecasts for FY25 are unchanged, with revenue of $129m in line with consensus. However, the broker cut the gross profit margin forecast to 91% from 94% and increased regulatory and new market development costs for FY26 and FY27.

This resulted in cuts to the FY26 and FY27 EPS forecasts.

Speculative Buy. Target price unchanged at $1.69 as the broker reduced the discount applied in valuation to 20% from 25%.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.20 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.50 cents.

Bell Potter

xx/xx/xxxx

xxx

$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

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	45.95%	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.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Wilsons

20/05/2025

Market Weight

$1.62

45.95%

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

FNArena News on PNV

1	Rudi’s View: Extreme Bifurcation Ahead Of August Jul 23 2025 - Rudi's View

2	Australian Broker Call Extra Edition – May 20, 2025 May 20 2025 - Daily Market Reports

3	Next Week At A Glance – 17-21 Mar 2025 Mar 14 2025 - Weekly Reports

4	Rudi’s View: Post February Conviction Calls Mar 13 2025 - Rudi's View

5	In Case You Missed It – BC Extra Upgrades & Downgrades – 07-03-25 Mar 07 2025 - Weekly Reports

Latest Pharmaceuticals & Biotech/Lifesciences News

1	Earnings Result Leaves CSL Bloodied 10:00 AM - Australia

2	Renewed Momentum For CSL Shares Jul 22 2025 - Technicals

3	Treasure Chest: CSL Not A One-Trick Pony Jul 14 2025 - Treasure Chest

4	The Enigma Surrounding Clinuvel Jul 03 2025 - Small Caps

5	Rudi’s View: CSL & NextDC May 08 2025 - Rudi's View

6	Behring Margin Outlook Still Main Game For CSL Feb 13 2025 - Australia

7	Dr Boreham’s Crucible: Arovella Therapeutics Aug 29 2024 - Small Caps

8	ResMed’s Margin Upside Excites Aug 07 2024 - Australia

9	Dr Boreham’s Crucible: Aroa Biosurgery Jul 29 2024 - Small Caps

10	CSL Shares Breaking Free Jul 23 2024 - Technicals

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

	Yield	Yield on investment
This Year
Year 1
Year 2
Year 3
Year 4
Year

Get 2 Weeks free trial

Sign Up

Member Login

POLYNOVO LIMITED (PNV)
Share Price Analysis and Chart