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Employees: 301
Size Polynovo (PNV.AX) is an Australia Health Care company (Biotechnology) with a market value of $426M, the 277th largest of 316 Australia companies the cockpit tracks. Shares closed at A$0.89 on 6 Nov 2026.
Performance Over six months the shares fell 11.9%, against -17.4% for the median peer and +4.1% for the Australia market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 12.9% over the last twelve months (peer median +11.5%); the operating margin is 5.0% (peer median -9.8%).
Valuation It trades at 89.0× forward earnings against a peer median of 17.0× (most expensive of 6).
Price implies For today's price to make sense, revenue must grow about 53% a year for seven years (Req g). Recent delivered growth is +38%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.2 points below its cost of capital (14.1% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$144M | A$144M | A$127M | A$103M | A$65.2M |
| Revenue growth | — | +13% | +23% | +58% | — |
| Gross profit | A$47.0M | A$47.0M | A$44.8M | A$36.1M | A$19.3M |
| EBITDA | A$9.86M | A$13.9M | A$7.81M | A$3.90M | -A$3.90M |
| Net income | A$7.34M | A$7.34M | A$13.2M | A$5.26M | -A$4.92M |
| Free cash flow | A$9.45M | A$9.45M | -A$10.1M | A$2.19M | -A$7.46M |
| Capital expenditure | A$13.8M | A$13.8M | A$13.9M | A$2.90M | A$1.53M |
| Total debt | n/a | A$17.6M | A$17.1M | A$15.4M | A$16.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PNV.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.3% | -12.5% | 3rd highest of 21 |
| 6-month return | -11.9% | -17.4% | 6th highest of 20 |
| Distance from 52-week high | -31.4% | -42.6% | 7th highest of 21 |
| Revenue growth (TTM) | +12.9% | +11.5% | 9th highest of 18 |
| Operating margin | 5.0% | -9.8% | 7th highest of 18 |
| Forward P/E | 89.0× | 17.0× | most expensive of 6 |
| Growth the price implies (Req g, 7 yrs) | 53.3% | 5.8% | most demanding of 8 |
| Growth delivered (Del g) | +37.6% | +8.1% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | +15.7 pp | +4.2 pp | 3rd most demanding of 7 |
| ROIC minus cost of capital | -7.2 pp | -5.4 pp | 8th lowest of 16 |
| EV / EBITDA | 60.5× | 6.0× | most expensive of 5 |
| Net debt / EBITDA | -1.8× | -0.5× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Polynovo PNV.AX | Australia | $426M | -12% | +13% | 5% | 89.0× | 53.3% | +37.6% |
| EirGenix 6589.TW | Taiwan | $427M | +2% | +27% | -71% | n/a | n/a | n/a |
| Hubei Goto Biopharm 300966.SZ | China | $427M | -7% | +6% | -10% | n/a | n/a | n/a |
| Arvinas ARVN | United States | $420M | -37% | -12% | -10% | n/a | n/a | n/a |
| Kamada KMDA | United States | $417M | -15% | +11% | 14% | 15.8× | 4.1% | +6.5% |
| Qyuns Therapeutics 2509.HK | Hong Kong | $415M | -17% | +230% | 56% | 10.0× | -20.2% | n/a |
| CorMedix CRMD | United States | $415M | -33% | +280% | 47% | n/a | n/a | n/a |
| Ever Supreme Bio Technology 6712.TWO | Taiwan | $439M | +9% | +13% | 47% | 28.6× | 5.8% | +70.5% |
| TenNor Therapeutics Suzhou 6872.HK | Hong Kong | $440M | n/a | n/a | n/a | n/a | n/a | n/a |
| Beijing Kawin Technology Share-Holding 688687.SS | China | $410M | -19% | +3% | 0% | 17.0× | 43.0% | +8.9% |
| Wuhan Hiteck Biological Pharma 300683.SZ | China | $443M | -36% | -30% | -27% | n/a | n/a | n/a |
| Prothena PRTA | United States | $409M | -26% | +427% | -110% | n/a | n/a | n/a |
| Shanghai Shen Lian Biomedical 688098.SS | China | $444M | -18% | -17% | -16% | n/a | n/a | n/a |
| Edding Genor 6998.HK | Hong Kong | $408M | -45% | +1,418% | 26% | n/a | -15.8% | +197.3% |
| Altimmune ALT | United States | $405M | -33% | +55% | -320,726% | n/a | n/a | n/a |
| Qingdao Vland Biotech 603739.SS | China | $450M | -21% | +5% | 7% | 33.9× | 18.2% | +7.3% |
| TaiMed Biologics 4147.TWO | Taiwan | $454M | +10% | +4% | -30% | n/a | 31.8% | -3.3% |
| Steminent Biotherapeutics 7729.TWO | Taiwan | $458M | +139% | n/a | n/a | n/a | n/a | n/a |
| Editas Medicine EDIT | United States | $395M | -17% | +21% | -178% | n/a | n/a | n/a |
| Komipharm International 041960.KS | South Korea | $460M | -12% | -3% | 2% | n/a | n/a | n/a |
| Zura Bio ZURA | United States | $394M | -15% | n/a | n/a | n/a | n/a | n/a |