Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
PolynovoCALZF 72 Debt-to-Equity is 0.22 as of Dec. 2025, which is 12% below its 10-year median of 0.25. GuruFocus rates CALZF with a GF Score™ of 72/100 and a GF Value™ of $2.14 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 705 Medical Devices & Instruments companies, Polynovo ranks better than 51.06% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Polynovo's Debt-to-Equity or its related term are showing as below:
CALZF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.1 Med: 0.25 Max: 0.62
Current: 0.22
During the past 13 years, the highest Debt-to-Equity Ratio of Polynovo was 0.62. The lowest was 0.10. And the median was 0.25.
CALZF's Debt-to-Equity is ranked better than 51.06% of 705
companies
in the Medical Devices & Instruments industry
Industry Median: 0.23
vs CALZF: 0.22
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Polynovo Debt-to-Equity Related Terms
Polynovo Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Polynovo's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Medical Devices subindustry, Polynovo's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Polynovo Debt-to-Equity vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Polynovo's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Polynovo's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Polynovo (CALZF) has a Debt-to-Equity of 0.22 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Polynovo and its competitors. This is 12% below median its historical median of 0.25. Over the past decade, Polynovo's Debt-to-Equity has ranged from 0.10 to 0.62. According to the industry distribution chart, Polynovo ranks #345 out of 705 companies in the Medical Devices & Instruments industry, placing it in the top 48.9%.
Is Polynovo's Debt-to-Equity too high?
Polynovo's current Debt-to-Equity of 0.22 is 12% below median its 10-year median of 0.25. Over the past 10 years, this metric has ranged from a low of 0.10 to a high of 0.62. The Medical Devices & Instruments industry median Debt-to-Equity is 0.23. Polynovo's value of 0.22 is 4.3% below this industry median. Based on the distribution chart, Polynovo ranks #345 out of 705 companies in the Medical Devices & Instruments industry, which is above the industry midpoint. Overall, Polynovo has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Polynovo's Debt-to-Equity compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Polynovo ranks #345 out of 705 companies for Debt-to-Equity. This puts Polynovo in the upper half of its industry. The industry median Debt-to-Equity is 0.23. Polynovo's value of 0.22 is 4.3% below this benchmark. Historically, Polynovo's own Debt-to-Equity has ranged from 0.10 to 0.62 over the past decade. While the company's 10-year median is 0.25 vs. the industry median of 0.23, Polynovo has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Medical Devices & Instruments company?
The median Debt-to-Equity among Medical Devices & Instruments companies is 0.23, based on 705 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Polynovo's current Debt-to-Equity of 0.22 is 4.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Polynovo and its competitors. For the Medical Devices & Instruments industry, the median Debt-to-Equity is 0.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polynovo's current Debt-to-Equity is 0.22, which is 12% below median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Polynovo stock overvalued right now?
Based on GuruFocus' analysis, Polynovo (CALZF) is currently considered Significantly Undervalued. The stock's GF Value™ is $2.14, compared to a current price of $0.56 — trading 73.8% below its estimated fair value. The current Debt-to-Equity is 0.22, which is 12% below median its 10-year median of 0.25 and 4.3% below the Medical Devices & Instruments industry median of 0.23. Polynovo's overall GF Score™ is 72/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Polynovo (CALZF), the current Debt-to-Equity is 0.22 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Polynovo (CALZF) Overvalued in 2026?
Based on GuruFocus' analysis, Polynovo stock appears to be undervalued.
The current stock price of $0.56 is trading 73.8% below its estimated GF Value™ of $2.14.
GuruFocus considers Polynovo to be Significantly Undervalued.
Key valuation signals for CALZF:
Debt-to-Equity: 0.22 (12% below median its 10-year median of 0.25)
GF Value™: $2.14 vs. price of $0.56 (73.8% below fair value)
Industry Position: 4.3% below the Medical Devices & Instruments median (#345 of 705)
No single metric tells the full story. See the CALZF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Polynovo earns most of its revenue from US sales of its NovoSorb Biodegradable Temporizing Matrix, or NovoSorb BTM. The product is a patented biodegradable synthetic scaffold to support the regeneration of the dermis when lost through surgery, trauma, burns, or other causes of tissue loss. Once the product is applied to a wound, it takes a few weeks for the dermal layer to fully integrate within the polymer scaffold before a clinician can delaminate the outer layer. A small wound would then close either naturally or with a dressing, while a larger wound would close through a split-skin graft or alternative product such as Avita's RECELL. NovoSorb BTM then slowly degrades to harmless byproducts which are fully absorbed in roughly 18 months.
72GF Score
Get the complete analysis for CALZF
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CALZF has been successfully added to your 
