Polaris Office Corp (041020) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Polaris Office Corp KRW 4,944, price KRW 3,020, upside +63.7%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 1,035 KRW – 10,120 KRW · fair‑value band 3,461 KRW – 6,427 KRW · the 3,020 KRW price screens below the 4,944 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 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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Polaris Office Corp. provides productivity and collaboration solutions to businesses, organizations, and individuals in South Korea. 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 3,020 KRW, while our model-based Fair Value estimate is 4,944 KRW, implying the stock looks roughly 38.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 9,012 KRW per share, and 19 of the 24 models we run sit above the 3,020 KRW price.
Bear case: the Asset-Based group reads lowest at 1,204 KRW, and 5 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 3,461 KRW (bear) to 6,427 KRW (bull), the price of 3,020 KRW sits below 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 51/100 (solid 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 150B KRW (≈ $105M) · P/S ratio 5.71 · Net margin 1.5% · Return on equity 803% · Return on assets (EBIT) 2.4% · 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 42 out of 100 (low confidence).
What moves the price
The share trades about 47% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 48% fair-value upside, at 64%, 041020 screens cheaper than that median.
Fair Value models
Bear 3,461 KRWFair Value 4,944 KRWBull 6,427 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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
The price assumes less growth than the company has delivered so far.
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).
−27.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −29.3% a year for the price.
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 · 39 stocks
Beats the industry median on 6/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+64% · Above median
Profitability
Return on assets3% · Above median
Net margin (TTM)53% · Top 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth7% · Above median
Balance sheet
Debt / equity0.34× · Highest 25%
Valuation Multiplesvs Software & IT Services median · lower = cheaper
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Is Polaris Office Corp (041020) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4,944 KRW versus a price of 3,020 KRW, about +64% upside (undervalued).
What is the fair value of 041020?
Our model-based fair value for Polaris Office Corp is 4,944 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 3,020 KRW.
What is the quality score of 041020?
Polaris Office Corp has a Quality Score of 51/100. 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 4,944 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 3,461 KRW, optimistic scenario 6,427 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 4,944 KRW, about +64% upside versus a price of 3,020 KRW (undervalued). Cautious scenario 3,461 KRW, optimistic scenario 6,427 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 -27.8 % 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 Sep 24, 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 -27.8 % per year a year over ten years, 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 -27.8 % per year free-cash-flow growth a 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 +8.2 % a year. That is the yardstick for the growth priced into Polaris Office Corp (-27.8 % per year a 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 14.96 %: 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 4,944 KRW per share (as of Sep 24, 2026), against a price of 3,020 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Polaris Office Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 041020 trades below its calculated fair value: price 3,020 KRW, fair value 4,944 KRW, a gap of about +64% (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 (3,020 KRW); the fair value is what the company's own numbers justify (4,944 KRW). For Polaris Office Corp the two are 1,924 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 150B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 3,020 KRW; our models calculate a fair value of 4,944 KRW per share.
What do the bullish and bearish scenarios say about 041020?
Our models span a range for Polaris Office Corp: cautious scenario 3,461 KRW, base 4,944 KRW, optimistic 6,427 KRW per share (as of Sep 24, 2026, price 3,020 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 Sep 24, 2026): debt of 0.34 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 041020 from its 52-week high?
Polaris Office Corp trades at 3,020 KRW, about 47% below its 52-week high of 5,740 KRW and 20% above the low of 2,520 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 4,944 KRW is for.
Which stocks are comparable to Polaris Office Corp?
From the same area (Technology) we also value KINX, Inc, Wemade Co, Gabia Inc, Hancom Inc, 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 Sep 24, 2026: price 3,020 KRW, calculated fair value 4,944 KRW (+64%), Quality Score 51/100, 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 four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 4,944 KRW, 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 14.1 % above its aggregate fair value. Polaris Office Corp currently trades 64 % 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 Sep 23, 2026 was 3,020 KRW. Our model-based fair value is 4,944 KRW, about +64% 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?
The price is below even our cautious bear case (3,461 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (3,461 KRW to 6,427 KRW) leaves room in how you read the outcome.
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 150B KRW (≈ $105M). 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 5.71 (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 1.5% (fiscal year 2025). 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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