PolyNovo Limited

CHIA:PNV Stock Report

Market Cap: AU$1.4b

PolyNovo Valuation

Is PNV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PNV (A$1.98) is trading below our estimate of fair value (A$3.02)

Significantly Below Fair Value: PNV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PNV?

Key metric: As PNV is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PNV. This is calculated by dividing PNV's market cap by their current revenue.
What is PNV's PS Ratio?
PS Ratio13.7x
SalesAU$103.23m
Market CapAU$1.41b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PNV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.6x
NAN Nanosonics
6.2x8.7%AU$1.0b
ANN Ansell
1.9x6.7%AU$4.7b
SDI SDI
1.1x5.4%AU$122.4m
NXS Next Science
1.1x30.6%AU$39.4m
PNV PolyNovo
13.2x17.5%AU$1.4b

Price-To-Sales vs Peers: PNV is expensive based on its Price-To-Sales Ratio (13.2x) compared to the peer average (2.6x).

Price to Sales Ratio vs Industry

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

9 CompaniesPrice / SalesEstimated GrowthMarket Cap
SDI SDI
1.1x5.4%US$79.56m
SOM SomnoMed
0.7x9.0%US$39.36m
CMP Compumedics
1xn/aUS$34.04m
NXS Next Science
1.1x30.6%US$25.63m
PNV 13.7xIndustry Avg. 4.1xNo. of Companies9PS0612182430+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PNV is expensive based on its Price-To-Sales Ratio (13.2x) compared to the Australian Medical Equipment industry average (4.1x).

Price to Sales Ratio vs Fair Ratio

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 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio13.7x
Fair PS Ratio9.5x

Price-To-Sales vs Fair Ratio: PNV is expensive based on its Price-To-Sales Ratio (13.2x) compared to the estimated Fair Price-To-Sales Ratio (9.4x).

Analyst Price Targets

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

The above table shows the analyst PNV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$2.03
AU$2.58
+27.0%
22.7%AU$3.00AU$1.05n/a9
Nov ’25AU$2.01
AU$2.58
+28.2%
22.7%AU$3.00AU$1.05n/a9
Oct ’25AU$2.65
AU$2.61
-1.7%
23.6%AU$3.00AU$1.05n/a8
Sep ’25AU$2.34
AU$2.61
+11.4%
23.6%AU$3.00AU$1.05n/a8
Aug ’25AU$2.73
AU$2.37
-13.3%
23.2%AU$2.80AU$1.05n/a8
Jul ’25AU$2.33
AU$2.14
-8.1%
23.6%AU$2.75AU$1.00n/a8
Jun ’25AU$2.24
AU$2.11
-5.6%
22.8%AU$2.75AU$1.00n/a8
May ’25AU$2.02
AU$2.11
+4.6%
22.8%AU$2.75AU$1.00n/a8
Apr ’25AU$2.18
AU$2.11
-3.1%
22.8%AU$2.75AU$1.00n/a8
Mar ’25AU$2.21
AU$2.11
-4.2%
22.8%AU$2.75AU$1.00n/a8
Feb ’25AU$1.87
AU$1.95
+4.5%
26.1%AU$2.90AU$1.00n/a8
Jan ’25AU$1.65
AU$1.81
+10.0%
29.4%AU$2.70AU$1.00n/a8
Dec ’24AU$1.41
AU$1.88
+33.6%
30.0%AU$2.70AU$1.00n/a8
Nov ’24AU$1.20
AU$1.88
+56.4%
30.0%AU$2.70AU$1.00AU$2.018
Oct ’24AU$1.30
AU$1.88
+44.3%
30.0%AU$2.70AU$1.00AU$2.658
Sep ’24AU$1.41
AU$2.11
+49.8%
29.0%AU$2.90AU$1.08AU$2.346
Aug ’24AU$1.58
AU$2.25
+42.8%
31.9%AU$2.90AU$0.90AU$2.736
Jul ’24AU$1.54
AU$2.25
+46.1%
31.9%AU$2.90AU$0.90AU$2.336
Jun ’24AU$1.47
AU$2.25
+53.5%
31.9%AU$2.90AU$0.90AU$2.246
May ’24AU$1.64
AU$2.53
+54.4%
14.4%AU$2.90AU$1.90AU$2.026
Apr ’24AU$1.79
AU$2.53
+41.5%
14.4%AU$2.90AU$1.90AU$2.186
Mar ’24AU$2.34
AU$2.53
+7.9%
14.4%AU$2.90AU$1.90AU$2.216
Feb ’24AU$2.50
AU$2.09
-16.4%
25.9%AU$2.85AU$1.20AU$1.875
Jan ’24AU$2.03
AU$1.98
-2.5%
21.0%AU$2.30AU$1.20AU$1.655
Dec ’23AU$2.02
AU$1.90
-5.9%
22.6%AU$2.30AU$1.20AU$1.414
Nov ’23AU$2.03
AU$1.70
-16.3%
17.0%AU$1.90AU$1.20AU$1.206

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

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