The indigenous endemic plant P. angustifolium has received attention for nutraceutical and therapeutic applications in Australia. This study investigates for the first time the nutritional value (macro- and micronutrients, minerals, trace elements, polyphenols, carotenoids, saponins and antioxidant capacity) and antimicrobial activity of different botanical parts of P. angustifolium, either collected from the wild or cultivated. Different botanical tissues, geographic location and growing condition (wild vs. cultivated) showed significant (p < 0.05) effects on the tested bioactive compounds, with the leaves having significantly (p < 0.05) higher levels than the stems. Saponins and polyphenols could be identified as the main bioactive compounds in the leaves with up to 4% per dry weight. The extracts of P. angustifolium leaves and stems showed strong antioxidant and antimicrobial activities, especially against Candida albicans. These activities correlated (R2 = 0.64–0.92; p < 0.05) with the levels of polyphenols and saponins, indicating their biologic potential. Findings from this study may provide information for future applications of P. angustifolium in the functional ingredient or nutraceutical industry.