POLARIS WORKS Inc (123010) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of POLARIS WORKS Inc KRW 2,224, price KRW 3,360, upside -33.8%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Rnt-X Co.,Ltd., together with its subsidiaries, provides image sensor packaging and testing solutions in South Korea, Taiwan, China, Germany, and internationally. It operates in three segments: Image Sensor, Automobile Parts, and Mobile Phone Parts. The company offers NeoPac, a photo sensor chip scale package for application in image sensors.
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Rnt-X Co.,Ltd., together with its subsidiaries, provides image sensor packaging and testing solutions in South Korea, Taiwan, China, Germany, and internationally. It operates in three segments: Image Sensor, Automobile Parts, and Mobile Phone Parts. The company offers NeoPac, a photo sensor chip scale package for application in image sensors. It also develops and sells semiconductor chips for image sensors. In addition, the company provides air conditioning parts for automobiles, as well as painting services for mobile phone parts. It serves IC, module, and set makers. The company was formerly known as iWin Plus Co., Ltd and changed its name to Rnt-X Co.,Ltd. in February 2026. Rnt-X Co.,Ltd. was founded in 2003 and is headquartered in Cheongju-si, South Korea.
Stock analysis
POLARIS WORKS Inc (123010) currently trades at 3,360 KRW, while our model-based Fair Value estimate is 2,224 KRW, implying the stock looks roughly 51.1% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,549 KRW per share, and 0 of the 13 models we run sit above the 3,360 KRW price.
Bear case: the Asset-Based group reads lowest at 521.06 KRW, and 13 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,285 KRW (bear) to 4,255 KRW (bull), the price of 3,360 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 56/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
POLARIS WORKS Inc reported revenue of 38.4B KRW in FY2025 versus 9.1B KRW in FY2021, a compound +43.4%/yr. Reported net income was −3.3B KRW in FY2025.
Key figures
Market cap 52.8B KRW (≈ $37.0M) · P/S ratio 1.42 · Net margin −8.6% · Return on equity −6.7% · Return on assets (EBIT) −10.6% · Operating margin 14.0% · Revenue (TTM) 37.3B KRW · Revenue growth (YoY) −10.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 40% below its 52-week high and 144% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −34%, 123010 screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (41.56 KRW to 2,946 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 1,285 KRWFair Value 2,224 KRWBull 4,255 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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.5%
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.
+47.3%
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.
+36.7%
Start year 2020 (pandemic). Over 10 years: +1.9% a year
Revenue growth 11 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.
+1.1%
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Profit margin (trend) ⓘ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.
−65.6% (2020) → 0.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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).
+23.6%
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 +21.1% 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.Semiconductor Equipment & Materials · 219 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "POLARIS WORKS Inc Fair Value". https://www.fairvalue-calculator.com/stock/123010
Frequently asked questions
Is POLARIS WORKS Inc (123010) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,224 KRW versus a price of 3,360 KRW, about −34% upside (overvalued).
What is the fair value of 123010?
Our model-based fair value for POLARIS WORKS Inc is 2,224 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 3,360 KRW.
What is the quality score of 123010?
POLARIS WORKS Inc has a Quality Score of 56/100. 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 WORKS Inc (123010)?
Our model-based price target is the fair value of 2,224 KRW (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 1,285 KRW, optimistic scenario 4,255 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the POLARIS WORKS Inc stock forecast for 2026?
Our models put fair value at 2,224 KRW, about −34% upside versus a price of 3,360 KRW (overvalued). Cautious scenario 1,285 KRW, optimistic scenario 4,255 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of POLARIS WORKS Inc (123010)?
POLARIS WORKS Inc reported trailing-twelve-month revenue of about 37.3B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into POLARIS WORKS Inc (123010)?
For today's price to be fair in a discounted-cash-flow model, POLARIS WORKS Inc would have to grow free cash flow by +23.6 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +36.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 123010 use?
Our models discount POLARIS WORKS Inc at 10.4 %: a base by market capitalisation (nano), damped by beta 1.12, 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 WORKS Inc that is +23.6 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has POLARIS WORKS Inc (123010) delivered so far?
Over the past 5 years revenue at POLARIS WORKS Inc grew +36.7 % a year. The price currently implies +23.6 % 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 WORKS Inc (123010) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into POLARIS WORKS Inc (+23.6 % 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 WORKS Inc (123010)?
The free-cash-flow yield on the price is 2.55 %: that much free cash flow POLARIS WORKS Inc produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), 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 WORKS Inc (123010)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For POLARIS WORKS Inc it is 2,224 KRW per share (as of Sep 24, 2026), against a price of 3,360 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is POLARIS WORKS Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 123010 trades above its calculated fair value: price 3,360 KRW, fair value 2,224 KRW, a gap of about −34% (overvalued). 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 123010?
No. The price is what the market pays today (3,360 KRW); the fair value is what the company's own numbers justify (2,224 KRW). For POLARIS WORKS Inc the two are 1,136 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is POLARIS WORKS Inc worth?
The market values POLARIS WORKS Inc at about 52.8B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 3,360 KRW; our models calculate a fair value of 2,224 KRW per share.
What do the bullish and bearish scenarios say about 123010?
Our models span a range for POLARIS WORKS Inc: cautious scenario 1,285 KRW, base 2,224 KRW, optimistic 4,255 KRW per share (as of Sep 24, 2026, price 3,360 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of POLARIS WORKS Inc (123010)?
Balance-sheet figures for POLARIS WORKS Inc (as of Sep 24, 2026): return on equity −6.7%, debt of 0.21 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 123010 from its 52-week high?
POLARIS WORKS Inc trades at 3,360 KRW, about 40% below its 52-week high of 5,570 KRW and 144% above the low of 1,378 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,224 KRW is for.
Which stocks are comparable to POLARIS WORKS Inc?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 WORKS Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 3,360 KRW, calculated fair value 2,224 KRW (−34%), Quality Score 56/100, from 13 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 123010 calculated?
We run POLARIS WORKS Inc through 13 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 2,224 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 13.0 % above its aggregate fair value. POLARIS WORKS Inc itself currently trades above fair value. 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 WORKS Inc (123010)?
The closing price on Sep 23, 2026 was 3,360 KRW. Our model-based fair value is 2,224 KRW, about −34% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with POLARIS WORKS Inc right now?
The model range is unusually wide (1,285 KRW to 4,255 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of POLARIS WORKS Inc
How large is the market capitalisation of POLARIS WORKS Inc (123010)?
The market capitalisation of POLARIS WORKS Inc is 52.8B KRW (≈ $37.0M). 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 WORKS Inc (123010)?
The price-to-sales ratio of POLARIS WORKS Inc is 1.42 (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 WORKS Inc (123010)?
The net margin of POLARIS WORKS Inc is −8.6% (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 WORKS Inc (123010)?
The return on equity (ROE) of POLARIS WORKS Inc is −6.7% (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 WORKS Inc (123010)?
On an EBIT basis the return on assets of POLARIS WORKS Inc is −10.6% (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 WORKS Inc (123010)?
The operating margin of POLARIS WORKS Inc is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at POLARIS WORKS Inc (123010)?
Revenue at POLARIS WORKS Inc is growing −10.2% versus a year earlier (3y avg +47.3%). 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 WORKS Inc (123010)?
Earnings per share at POLARIS WORKS Inc are growing +72.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does POLARIS WORKS Inc (123010) carry?
The net debt of POLARIS WORKS Inc is 8.9B KRW (fiscal year 2025, ≈ 3.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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