Polynovo Ltd
PNV: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$2.10 | Ygs | Kmrfxfcjw |
Polynovo: Broadly Tracking to Our Expectations
No-moat Polynovo’s fiscal 2024 sales rose 54% to AUD 92 million, 2% ahead of our forecast, with 75% stemming from the main United States market. We raise our fair value estimate by 5% to AUD 1.05 primarily due to the time value of money and slightly higher revenue forecasts. Our forecast five-year revenue compound annual growth rate increases to 26% from 25%. We expect the firm’s bolstered sales team to support market share gains.