Polaris Infrastructure Inc (PIF) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Polaris Infrastructure Inc C$21.17, price C$13.63, upside +55.3%, quality 65 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 C$9.62 – C$17.75 · fair‑value band C$13.63 – C$28.71 · the C$13.63 price screens below the C$21.17 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 Renewable Energy Inc. engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America and the Caribbean.
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Polaris Renewable Energy Inc. engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America and the Caribbean. It is involved in the operation of an 82 megawatt (MW) capacity geothermal facility in Nicaragua; 3 run-of-river hydroelectric facilities with a combined capacity of approximately 33 MW in Peru; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama. The company was formerly known as Polaris Infrastructure Inc. and changed its name to Polaris Renewable Energy Inc. in July 2022. Polaris Renewable Energy Inc. was incorporated in 1984 and is headquartered in Toronto, Canada.
Stock analysis
Polaris Infrastructure Inc (PIF) currently trades at C$13.63, while our model-based Fair Value estimate is C$21.17, implying the stock looks roughly 35.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of C$30.99 per share, and 9 of the 14 models we run sit above the C$13.63 price.
Bear case: the Earnings-Based group reads lowest at C$4.29, and 5 of the 14 models stay below the price. Evidence for this calculation is high.
Scenario range: C$13.63 (bear) to C$28.71 (bull), the price of C$13.63 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 65/100 (solid quality), in the Utilities sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Polaris Infrastructure Inc reported revenue of $81.9M in FY2025 versus $59.5M in FY2021, a compound +8.3%/yr. Reported net income was −$2.8M in FY2025.
Key figures
Market cap C$323M (≈ $228M) · P/E ratio 29.0 · P/S ratio 4.04 · EPS (TTM) C$0.4700 · Dividend yield 6.2% · Net margin −3.4% · Return on equity 2.9% · Return on assets (EBIT) 4.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −40% fair-value upside, at 55%, PIF screens cheaper than that median.
Fair Value models
Bear C$13.63Fair Value C$21.17Bull C$28.71
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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+8.1%
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.
+9.4%
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.
+1.8%
Start year 2020 (pandemic). Over 10 years: +5.0% a year
Revenue growth 16 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.
+18.5%
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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.
76.1% (2020) → 36.4% (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 about as much growth as the company has delivered so far and less than analysts expect.
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).
−0.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −2.9% a year for the price and +2.9% for the forecasts.
Compare Polaris Infrastructure Inc with another stock
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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.Utilities - Renewable · 207 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+55% · Top 25%
Profitability
Return on equity (TTM)3% · Below median
Return on assets3% · Above median
Net margin (TTM)9% · Above median
Operating margin (TTM)31% · Above median
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)6.2% · Top 25%
Balance sheet
Debt / equity0.88× · Above median
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
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Is Polaris Infrastructure Inc (PIF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of C$21.17 versus a price of C$13.63, about +55% upside (undervalued).
What is the fair value of PIF?
Our model-based fair value for Polaris Infrastructure Inc is C$21.17 (as of Sep 24, 2026), built from audited fundamentals. The current price: C$13.63.
What is the quality score of PIF?
Polaris Infrastructure Inc has a Quality Score of 65/100. 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 Infrastructure Inc (PIF)?
Our model-based price target is the fair value of C$21.17 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario C$13.63, optimistic scenario C$28.71. It is a calculation from audited fundamentals, not an analyst target.
What is the Polaris Infrastructure Inc stock forecast for 2026?
Our models put fair value at C$21.17, about +55% upside versus a price of C$13.63 (undervalued). Cautious scenario C$13.63, optimistic scenario C$28.71. The calculation is refreshed regularly with new filings.
What is the revenue of Polaris Infrastructure Inc (PIF)?
Polaris Infrastructure Inc reported trailing-twelve-month revenue of about $80.0M (latest available figure, as of Sep 24, 2026).
Does Polaris Infrastructure Inc pay a dividend?
Polaris Infrastructure Inc currently shows a dividend yield of about 6.16% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Polaris Infrastructure Inc (PIF)?
For today's price to be fair in a discounted-cash-flow model, Polaris Infrastructure Inc would have to grow free cash flow by -0.6 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PIF use?
Our models discount Polaris Infrastructure Inc at 11.0 %: a base by market capitalisation (micro), damped by beta 0.48, country premium for Canada. 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 Infrastructure Inc that is -0.6 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Polaris Infrastructure Inc (PIF) delivered so far?
Over the past 5 years revenue at Polaris Infrastructure Inc grew +1.9 % a year. The price currently implies -0.6 % 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 Infrastructure Inc (PIF) growing?
The median revenue growth in the sector is +0.7 % a year. That is the yardstick for the growth priced into Polaris Infrastructure Inc (-0.6 % 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 Infrastructure Inc (PIF)?
The free-cash-flow yield on the price is 16.56 %: that much free cash flow Polaris Infrastructure Inc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), 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 Infrastructure Inc (PIF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polaris Infrastructure Inc it is C$21.17 per share (as of Sep 24, 2026), against a price of C$13.63. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Polaris Infrastructure Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PIF trades below its calculated fair value: price C$13.63, fair value C$21.17, a gap of about +55% (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 PIF?
No. The price is what the market pays today (C$13.63); the fair value is what the company's own numbers justify (C$21.17). For Polaris Infrastructure Inc the two are C$7.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Polaris Infrastructure Inc worth?
The market values Polaris Infrastructure Inc at about C$323M (market capitalisation, as of Sep 24, 2026). Per share that is C$13.63; our models calculate a fair value of C$21.17 per share.
What do the bullish and bearish scenarios say about PIF?
Our models span a range for Polaris Infrastructure Inc: cautious scenario C$13.63, base C$21.17, optimistic C$28.71 per share (as of Sep 24, 2026, price C$13.63). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIF?
Polaris Infrastructure Inc trades at a price-to-earnings ratio of 29.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$21.17 is built from several models across several years. Other multiples: P/B 0.9, P/S 2.9, EV/EBITDA 6.1.
How solid is the balance sheet of Polaris Infrastructure Inc (PIF)?
Balance-sheet figures for Polaris Infrastructure Inc (as of Sep 24, 2026): return on equity 2.9%, debt of 0.88 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is PIF from its 52-week high?
Polaris Infrastructure Inc trades at C$13.63, about 15% below its 52-week high of C$16.00 and 21% above the low of C$11.22 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of C$21.17 is for.
Which stocks are comparable to Polaris Infrastructure Inc?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, Adani Green Energy Limited, 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 Infrastructure Inc stock attractive at the current price?
The data as of Sep 24, 2026: price C$13.63, calculated fair value C$21.17 (+55%), Quality Score 65/100, from 14 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 PIF calculated?
We run Polaris Infrastructure Inc through 14 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 C$21.17, 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 14.0 % above its aggregate fair value. Polaris Infrastructure Inc currently trades 55 % 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 Infrastructure Inc (PIF)?
The closing price on Sep 24, 2026 was C$13.63. Our model-based fair value is C$21.17, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polaris Infrastructure Inc right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (C$13.63 to C$28.71) leaves room in how you read the outcome.
Key figures of Polaris Infrastructure Inc
How large is the market capitalisation of Polaris Infrastructure Inc (PIF)?
The market capitalisation of Polaris Infrastructure Inc is C$323M (≈ $228M). 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 Infrastructure Inc (PIF)?
The price-to-sales ratio of Polaris Infrastructure Inc is 4.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Polaris Infrastructure Inc (PIF)?
Earnings per share at Polaris Infrastructure Inc are C$0.4700 (price ÷ EPS = P/E 29.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polaris Infrastructure Inc (PIF)?
The dividend yield of Polaris Infrastructure Inc is 6.2% (payout 179%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Polaris Infrastructure Inc (PIF)?
The net margin of Polaris Infrastructure Inc is −3.4% (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 Infrastructure Inc (PIF)?
The return on equity (ROE) of Polaris Infrastructure Inc is 2.9% (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 Infrastructure Inc (PIF)?
On an EBIT basis the return on assets of Polaris Infrastructure Inc is 4.1% (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 Infrastructure Inc (PIF)?
The operating margin of Polaris Infrastructure Inc is 30.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polaris Infrastructure Inc (PIF)?
Revenue at Polaris Infrastructure Inc is growing −2.6% versus a year earlier (3y avg +9.4%). 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 Infrastructure Inc (PIF)?
Earnings per share at Polaris Infrastructure Inc are growing +114% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Polaris Infrastructure Inc (PIF) carry?
The net debt of Polaris Infrastructure Inc is $133M (fiscal year 2025, ≈ 4.0 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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