Polaris Office Corp (041020) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Polaris Office Corp stock KRW 3,041, price KRW 2,450, upside +24.1%, quality 49 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 1,035 KRW – 10,120 KRW · fair‑value band 2,280 KRW – 4,236 KRW · the 2,450 KRW price screens below the 3,041 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Polaris Office Corp. provides productivity and collaboration solutions to businesses, organizations, and individuals in South Korea.
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It offers Polaris Office, an office software product that allows users to work with documents on a variety of platforms and devices; Atlassian, a consulting and collaboration tool that helps in improving work productivity; and V-Guard, a mobile security solution with an engine optimized for mobile environments and DB updates.
The company was formerly known as Infraware, Inc. and changed its name to Polaris Office Corp. in March 2021. Polaris Office Corp. was founded in 1997 and is based in Seoul, South Korea.
Stock analysis
Polaris Office Corp (041020) currently trades at 2,450 KRW, while our model-based Fair Value estimate is 3,041 KRW, implying the stock looks roughly 19% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 4,944 KRW per share, and 15 of the 24 models we run sit above the 2,450 KRW price.
Bear case: the Economic Profit group reads lowest at 1,112 KRW, and 9 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 2,280 KRW (bear) to 4,236 KRW (bull), the price of 2,450 KRW sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Polaris Office Corp reported revenue of 324B KRW in FY2025 versus 23.0B KRW in FY2021, a compound +93.8%/yr. Reported net income was 4.9B KRW in FY2025.
Key figures
Market cap 140B KRW (≈ $104M) Micro · P/S ratio 5.93 · Net margin 52.7% · Return on equity 803% · Return on assets (EBIT) 2.4% (5-year average) · Operating margin 10.4% · Revenue growth (YoY) +7.4% · EPS growth (YoY) −6.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −2% fair-value upside, at 24%, 041020 screens cheaper than that median.
Fair Value models
Bear2,280 KRWFair Value 3,041 KRWBull4,236 KRW
Price 2,450 KRW · Upside +24.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+137.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+75.5%
Start year 2020 (pandemic). Over 10 years: +30.6% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.4%
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What shareholders gained per year (last 3 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−34.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−34.8%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−41% → 3%
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software & IT Services · 33 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+24.1% · Above median
Profitability
Return on assets2.1% · Below median
Net margin (12 months)146.3% · Top 25%
Operating margin (12 months)10.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)7.4% · Above median
Balance sheet
Debt / equity0.34× · Highest 25%
Valuation Multiplesvs Software & IT Services median · lower = cheaper
P/B1.57× · Priciest 25%
P/S (12 months)16.45× · Priciest 25%
Price / free cash flow (fiscal year)17.3× · Pricier than median
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Is Polaris Office Corp (041020) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 3,041 KRW versus a price of 2,450 KRW, about +24% upside (undervalued).
What is the fair value of 041020?
Our model-based fair value for Polaris Office Corp is 3,041 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 2,450 KRW.
What is the quality score of 041020?
Polaris Office Corp has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Polaris Office Corp (041020)?
Our model-based price target is the fair value of 3,041 KRW (as of Nov 8, 2026) from 24 valuation models. Cautious scenario 2,280 KRW, optimistic scenario 4,236 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Polaris Office Corp stock forecast for 2026?
Our models put fair value at 3,041 KRW, about +24% upside versus a price of 2,450 KRW (undervalued). Cautious scenario 2,280 KRW, optimistic scenario 4,236 KRW. The calculation is refreshed regularly with new filings.
What growth is priced into Polaris Office Corp (041020)?
For today's price to be fair in a discounted-cash-flow model, Polaris Office Corp would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 15.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +75.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 041020 use?
Our models discount Polaris Office Corp at 15.1 %: a base by market capitalisation (micro), damped by beta 1.60, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Polaris Office Corp that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.1 %) and the same formula as our fair value.
How much growth has Polaris Office Corp (041020) delivered so far?
Over the past 5 years revenue at Polaris Office Corp grew +75.5 % a year. The price currently implies free-cash-flow growth of less than minus 40 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Polaris Office Corp (041020) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Polaris Office Corp (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Polaris Office Corp (041020)?
The free-cash-flow yield on the price is 18.44 %: that much free cash flow Polaris Office Corp produces per unit of market value. When it exceeds the discount rate of our models (15.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Polaris Office Corp (041020)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polaris Office Corp it is 3,041 KRW per share (as of Nov 8, 2026), against a price of 2,450 KRW. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Polaris Office Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 041020 trades below its calculated fair value: price 2,450 KRW, fair value 3,041 KRW, a gap of about +24% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 041020?
No. The price is what the market pays today (2,450 KRW); the fair value is what the company's own numbers justify (3,041 KRW). For Polaris Office Corp the two are 591.49 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Polaris Office Corp worth?
The market values Polaris Office Corp at about 140B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 2,450 KRW; our models calculate a fair value of 3,041 KRW per share.
What do the bullish and bearish scenarios say about 041020?
Our models span a range for Polaris Office Corp: cautious scenario 2,280 KRW, base 3,041 KRW, optimistic 4,236 KRW per share (as of Nov 8, 2026, price 2,450 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Polaris Office Corp (041020)?
Balance-sheet figures for Polaris Office Corp (as of Nov 8, 2026): debt of 0.34 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 041020 from its 52-week high?
Polaris Office Corp trades at 2,450 KRW, about 56% below its 52-week high of 5,630 KRW and at the low of 2,450 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 3,041 KRW is for.
Which stocks are comparable to Polaris Office Corp?
From the same area (Technology) we also value Gabia Inc, KINX, Inc, Wemade Co, AfreecaTV Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Polaris Office Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 2,450 KRW, calculated fair value 3,041 KRW (+24%), Quality Score 49/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 041020 calculated?
We run Polaris Office Corp through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3,041 KRW builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Polaris Office Corp currently trades 19% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Polaris Office Corp (041020)?
The closing price on Nov 6, 2026 was 2,450 KRW. Our model-based fair value is 3,041 KRW, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polaris Office Corp right now?
A fairly wide model range (2,280 KRW to 4,236 KRW) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Polaris Office Corp
How large is the market capitalisation of Polaris Office Corp (041020)?
The market capitalisation of Polaris Office Corp is 140B KRW (≈ $104M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Polaris Office Corp (041020)?
The price-to-sales ratio of Polaris Office Corp is 5.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Polaris Office Corp (041020)?
The net margin of Polaris Office Corp is 52.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Polaris Office Corp (041020)?
The return on equity (ROE) of Polaris Office Corp is 803% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Polaris Office Corp (041020)?
On an EBIT basis the return on assets of Polaris Office Corp is 2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Polaris Office Corp (041020)?
The operating margin of Polaris Office Corp is 10.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polaris Office Corp (041020)?
Revenue at Polaris Office Corp is growing +7.4% versus a year earlier (3y avg +138%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Polaris Office Corp (041020)?
Earnings per share at Polaris Office Corp are growing −6.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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Some data
Nov 8, 2026