How does PNV's PS Ratio compare to its peers?

PNV is expensive based on its Price-To-Sales Ratio (13.6x) compared to the peer average (2.3x).

How does PNV's PS Ratio compare vs other companies in the AU Medical Equipment Industry?

PNV is expensive based on its Price-To-Sales Ratio (13.6x) compared to the Australian Medical Equipment industry average (3.7x).

What is PNV's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PNV is expensive based on its Price-To-Sales Ratio (13.6x) compared to the estimated Fair Price-To-Sales Ratio (9.4x).

What is the Fair Price of PNV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

PNV (A$2.03) is trading below our estimate of [[fair value]] (A$2.96)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

PNV Stock Overview

Designs, manufactures, and sells biodegradable medical devices in the United States, Australia, New Zealand, and internationally. More details

PNV fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	5/6
Past Performance	3/6
Financial Health	5/6
Dividends	0/6

Rewards

Trading at 31.5% below our estimate of its fair value

Earnings are forecast to grow 38.27% per year

Became profitable this year

Risk Analysis

No risks detected for PNV from our risk checks.

My Notes

Capture your thoughts, links and company narrative

PolyNovo Limited Competitors

Nanosonics

ASX:NAN

AU$904.6m

Ansell

ASX:ANN

AU$4.9b

SDI

ASX:SDI

AU$136.1m

Next Science

ASX:NXS

AU$33.6m

Price History & Performance

Summary of share price highs, lows and changes for PolyNovo
Historical stock prices
Current Share Price	AU$2.03
52 Week High	AU$2.78
52 Week Low	AU$1.48
Beta	1.72
1 Month Change	-10.18%
3 Month Change	-16.46%
1 Year Change	25.70%
3 Year Change	41.46%
5 Year Change	1.00%
Change since IPO	915.00%

Is It Time To Consider Buying PolyNovo Limited (ASX:PNV)?

Oct 10

Recent updates

PolyNovo Limited (ASX:PNV) Shares Could Be 47% Below Their Intrinsic Value Estimate

Jan 08

Health Check: How Prudently Does PolyNovo (ASX:PNV) Use Debt?

Sep 22

When Should You Buy PolyNovo Limited (ASX:PNV)?

Jun 26

Are Investors Undervaluing PolyNovo Limited (ASX:PNV) By 29%?

May 30

Shareholders Should Be Pleased With PolyNovo Limited's (ASX:PNV) Price

Apr 18

Is It Too Late To Consider Buying PolyNovo Limited (ASX:PNV)?

Mar 23

Is PolyNovo Limited (ASX:PNV) Worth AU$2.6 Based On Its Intrinsic Value?

Feb 05

Returns At PolyNovo (ASX:PNV) Are On The Way Up

Nov 16

PolyNovo Limited's (ASX:PNV) Intrinsic Value Is Potentially 95% Above Its Share Price

Nov 01

What Does PolyNovo Limited's (ASX:PNV) Share Price Indicate?

Jul 29

PolyNovo (ASX:PNV) Is Looking To Continue Growing Its Returns On Capital

Jun 15

Estimating The Fair Value Of PolyNovo Limited (ASX:PNV)

May 16

We Think PolyNovo (ASX:PNV) Is Taking Some Risk With Its Debt

Apr 28

There's Been No Shortage Of Growth Recently For PolyNovo's (ASX:PNV) Returns On Capital

Mar 07

Is PolyNovo (ASX:PNV) Weighed On By Its Debt Load?

Dec 13

PolyNovo Limited's (ASX:PNV) CEO Compensation Looks Acceptable To Us And Here's Why

Oct 19

Is PolyNovo (ASX:PNV) Using Debt In A Risky Way?

May 08

News Flash: 7 Analysts Think PolyNovo Limited (ASX:PNV) Earnings Are Under Threat

Feb 27

Earnings Update: PolyNovo Limited (ASX:PNV) Just Reported And Analysts Are Trimming Their Forecasts

Feb 25

Is PolyNovo Limited (ASX:PNV) Potentially Undervalued?

Feb 17

Shareholder Returns

	PNV	AU Medical Equipment	AU Market
7D	-5.6%	1.1%	-0.06%
1Y	25.7%	2.8%	9.0%

Return vs Industry: PNV exceeded the Australian Medical Equipment industry which returned 2.8% over the past year.

Return vs Market: PNV exceeded the Australian Market which returned 9% over the past year.

Price Volatility

Is PNV's price volatile compared to industry and market?
PNV volatility
PNV Average Weekly Movement	5.2%
Medical Equipment Industry Average Movement	8.8%
Market Average Movement	8.0%
10% most volatile stocks in AU Market	16.6%
10% least volatile stocks in AU Market	3.0%

Stable Share Price: PNV has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: PNV's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1998	254	Swami Raote	polynovo.com

PolyNovo Limited designs, manufactures, and sells biodegradable medical devices in the United States, Australia, New Zealand, and internationally. The company offers NovoSorb Biodegradable Temporising Matrix, a dermal scaffold for the regeneration of the dermis when lost through extensive surgery, trauma, or burn. It is also developing hernia devices for hernia repair and solution for ventral hernia and complex abdominal wall reconstruction; NovoSorb Dermal Beta Cell, a novel intracutaneous ectopic pancreas to treat type 1 diabetes; NovoSorb MTX for single stage grafting in burns, chronic, and surgical wounds; and plastics and reconstructive device products.

PolyNovo Limited Fundamentals Summary

How do PolyNovo's earnings and revenue compare to its market cap?
PNV fundamental statistics
Market cap	AU$1.40b
Earnings (TTM)	AU$5.26m
Revenue (TTM)	AU$103.23m

266.6x

P/E Ratio

13.6x

P/S Ratio

Is PNV overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PNV income statement (TTM)
Revenue	AU$103.23m
Cost of Revenue	AU$16.41m
Gross Profit	AU$86.82m
Other Expenses	AU$81.56m
Earnings	AU$5.26m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.0076
Gross Margin	84.11%
Net Profit Margin	5.10%
Debt/Equity Ratio	3.6%

How did PNV perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/04 04:27
End of Day Share Price	2025/01/03 00:00
Earnings	2024/06/30
Annual Earnings	2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

PolyNovo Limited is covered by 10 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
John Hester	Bell Potter
Lyanne Harrison	BofA Global Research
Andrew Paine	CLSA

PNV Stock Overview

Rewards

Risk Analysis

PolyNovo Limited Competitors

ASX:NAN

AU$904.6m

ASX:ANN

AU$4.9b

ASX:SDI

AU$136.1m

ASX:NXS

AU$33.6m

Price History & Performance

Recent News & Updates

Is It Time To Consider Buying PolyNovo Limited (ASX:PNV)?

Now 21% undervalued

Independent Non-Executive Director recently sold AU$261k worth of stock

PolyNovo Limited Announces Retirement of Bruce Rathie as Non-Executive Director

Non-Executive Independent Director recently sold AU$1.9m worth of stock

Now 21% undervalued

Recent updates

Is It Time To Consider Buying PolyNovo Limited (ASX:PNV)?

Now 21% undervalued

Independent Non-Executive Director recently sold AU$261k worth of stock

PolyNovo Limited Announces Retirement of Bruce Rathie as Non-Executive Director

Non-Executive Independent Director recently sold AU$1.9m worth of stock

Now 21% undervalued

PolyNovo Limited, Annual General Meeting, Oct 28, 2024

PolyNovo (ASX:PNV) Is Experiencing Growth In Returns On Capital

Now 20% undervalued

Price target increased by 7.0% to AU$2.53

Full year 2024 earnings: Revenues and EPS in line with analyst expectations

PolyNovo Limited's (ASX:PNV) P/S Is On The Mark

Now 24% undervalued

Price target increased by 8.8% to AU$2.37

Consensus EPS estimates increase by 15%

PolyNovo Limited to Report Fiscal Year 2024 Results on Aug 23, 2024

Insufficient new directors

PolyNovo Limited's (ASX:PNV) P/S Is On The Mark

Now 21% undervalued

Now 23% undervalued

Now 20% undervalued

Price target increased by 9.7% to AU$2.14

When Should You Buy PolyNovo Limited (ASX:PNV)?

First half 2024 earnings released: EPS: AU$0.004 (vs AU$0.006 loss in 1H 2023)

Why Investors Shouldn't Be Surprised By PolyNovo Limited's (ASX:PNV) P/S

Price target increased by 7.4% to AU$1.95

PolyNovo Limited (ASX:PNV) Shares Could Be 47% Below Their Intrinsic Value Estimate

PolyNovo Limited, Annual General Meeting, Nov 03, 2023

Price target decreased by 9.5% to AU$1.88

Health Check: How Prudently Does PolyNovo (ASX:PNV) Use Debt?

Price target decreased by 7.8% to AU$2.07

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Consensus EPS estimates fall by 65%, revenue upgraded

Forecast breakeven date pushed back to 2025

When Should You Buy PolyNovo Limited (ASX:PNV)?

Are Investors Undervaluing PolyNovo Limited (ASX:PNV) By 29%?

Price target decreased by 11% to AU$2.25

Forecast breakeven date pushed back to 2025

Shareholders Should Be Pleased With PolyNovo Limited's (ASX:PNV) Price

Independent Non-Executive Chairman recently sold AU$9.7m worth of stock

Is It Too Late To Consider Buying PolyNovo Limited (ASX:PNV)?

Now 23% undervalued after recent price drop

Forecast breakeven date moved forward to 2023

First half 2023 earnings released: AU$0.006 loss per share (vs AU$0.002 profit in 1H 2022)

PolyNovo Limited Announces Update on SynPath Diabetic Foot Ulcer Trial

PolyNovo Limited Announces Update on SynPath Diabetic Foot Ulcer Trial

Price target increased by 13% to AU$2.36

Consensus EPS estimates upgraded to AU$0.0002 loss

Is PolyNovo Limited (ASX:PNV) Worth AU$2.6 Based On Its Intrinsic Value?

Forecast breakeven date pushed back to 2024

Price target increased to AU$1.98

Price target increased to AU$1.90

Returns At PolyNovo (ASX:PNV) Are On The Way Up

PolyNovo Limited's (ASX:PNV) Intrinsic Value Is Potentially 95% Above Its Share Price

Independent Non-Executive Chairman recently bought AU$202k worth of stock

PolyNovo Limited, Annual General Meeting, Oct 28, 2022

PolyNovo Limited Announces Re-Designation of David McQuillan as Chief Technical and Scientific Officer

Price target increased to AU$1.68

Full year 2022 earnings: EPS misses analyst expectations