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Polar Capital Holdings (PLRRF) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of Polar Capital Holdings $12.41, price $11.00, upside +12.8%, quality 89 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Broad data
Sep 24, 2026
Polar Capital Holdings
PLRRF · USUndervalued, solidFair Value upside is positive and quality is strong.
✓Fair value $12.41 · Undervalued (+12.8%)
✓Quality 89/100
!Weak Growth (revenue 3y −0.3 %/yr)
✓Solidly profitable · 17.1% net margin (TTM)
✓Low debt · generates free cash flow
✓4.2% dividend yield · Sustainable
✓Wide moat 80/100
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
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 $3.44 – $11.53 · fair‑value band $6.73 – $17.12 · the $11.00 price screens below the $12.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Polar Capital Holdings plc is a publicly owned investment manager. The firm provides its services to professional and institutional investors. It launches and manages equity and balanced mutual funds. The firm also launches and manages hedge funds for its clients. The firm invests in public equity markets across the globe.
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Polar Capital Holdings plc is a publicly owned investment manager. The firm provides its services to professional and institutional investors. It launches and manages equity and balanced mutual funds. The firm also launches and manages hedge funds for its clients. The firm invests in public equity markets across the globe. The firm typically invests in companies in technology, healthcare and financial sectors. Polar Capital Holdings plc was founded in December 2000 and is based in London, United Kingdom with an additional office in Tokyo, Japan.
Stock analysis
Polar Capital Holdings (PLRRF) currently trades at $11.00, while our model-based Fair Value estimate is $12.41, implying the stock looks roughly 11.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $12.65 per share, and 6 of the 11 models we run sit above the $11.00 price.
Bear case: the Asset-Based group reads lowest at $1.26, and 5 of the 11 models stay below the price. Evidence for this calculation is high.
Scenario range: $6.73 (bear) to $17.12 (bull), the price of $11.00 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 89/100 (high quality), in the Financial Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Polar Capital Holdings reported revenue of £222M in FY2025 versus £202M in FY2021, a compound +2.5%/yr. Reported net income was £35.3M in FY2025, compounding −13.4%/yr from FY2021.
Key figures
Market cap $1.1B · P/E ratio 20.4 · P/S ratio 3.24 · EPS (TTM) $0.5400 · Dividend yield 4.2% · Net margin 15.9% · Return on equity 31.2% · Return on assets (EBIT) 24.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 5% below its 52-week high and 77% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 13%, PLRRF screens cheaper than that median.
Fair Value models
Bear $6.73
Fair Value $12.41
Bull $17.12
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.0800 per share) are deliberately not added.
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.
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.
Highest evidence
Growth DCF
$10.44
$14.71
$20.44
79
Owner Earnings
$8.88
$12.65
$17.93
77
Residual Income
$2.60
$3.37
$5.55
74
All 11 models by family
DCF Models
Owner Earnings
$8.88
$12.65
$17.93
77
5Y P/E Exit
$8.73
$12.62
$16.78
71
10Y P/E Exit
$9.32
$12.75
$17.05
64
Earnings-Based
Graham-Dodd
$3.37
$12.34
$16.66
64
Lynch FV
$2.94
$4.20
$5.46
61
Multiples
P/E Multiple
$6.69
$8.92
$11.15
63
P/B Multiple
$2.55
$3.40
$4.25
55
Asset-Based
NCAV (Graham)
$0.9400
$1.26
$1.89
54
Growth DCF
Growth DCF
$10.44
$14.71
$20.44
79
Rev-Margin DCF
$8.27
$11.79
$16.05
73
Economic Profit
Residual Income
$2.60
$3.37
$5.55
74
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Set up alert →Quality Score breakdown
Overall quality
89/100
Of which business quality 86 · Market factors (momentum, volatility) 82
Profitability
82
Margins and returns on capital today
Quality Growth
57
Are margins and returns improving?
Cashflow
96
Earnings quality: real cash, not paper profit
Fin. Strength
99
Balance sheet, leverage, solvency risk
Investment
100
Disciplined investing over empire-building
Low Volatility
70
Calm price path (market factor)
Momentum
83
Price trend over the last 3–12 months (market factor)
52W Momentum
95
Distance to the 52-week high (market factor)
Net Issuance
77
Share count: buybacks or dilution?
Revenue & earnings trend
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
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+13.9%
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.
−0.3%
Revenue growth 10 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.
+8.4%
’15
’16
’17
’18
’19
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘ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 5 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.
−6.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.3%
Dividend (yield on the price)4.2%
Profit margin 2019 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.36% → 28%
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).
+0.8%
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.
+5.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in GBP, UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about −1.5% a year for the price and +2.9% for the forecasts.
Forecast 2026 (sales)+5.9%
Forecast 2027 (sales)+5.9%
Projected 2028 (sales)+5.4%
Projected 2029 (sales)+4.9%
Projected 2030 (sales)+4.5%
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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.Asset Management · 657 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation Multiplesvs Asset Management median · lower = cheaper
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $112.09 | $52.29 | −53% |
| KKR & Co KKR | $93.18 | $29.26 | −69% |
| Brookfield Corporation BN | $36.87 | $13.45 | −64% |
| Apollo Global Management, Inc APO | $116.06 | $197.23 | +70% |
| State Street Corporation STT | $177.78 | $139.37 | −22% |
| Ameriprise Financial, Inc AMP | $494.82 | $595.40 | +20% |
| Ares Management Corporation ARES | $122.01 | $103.68 | −15% |
| Northern Trust Corporation NTRS | $175.73 | $123.42 | −30% |
| Raymond James Financial, Inc RJF | $161.16 | $317.27 | +97% |
| Exor N.V EXO | €68.10 | €136.20 | +100% |
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Frequently asked questions
Is Polar Capital Holdings (PLRRF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $12.41 versus a price of $11.00, about +13% upside (undervalued).
What is the fair value of PLRRF?
Our model-based fair value for Polar Capital Holdings is $12.41 (as of Sep 24, 2026), built from audited fundamentals. The current price: $11.00.
What is the quality score of PLRRF?
Polar Capital Holdings has a Quality Score of 89/100. 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 Polar Capital Holdings (PLRRF)?
Our model-based price target is the fair value of $12.41 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario $6.73, optimistic scenario $17.12. It is a calculation from audited fundamentals, not an analyst target.
What is the Polar Capital Holdings stock forecast for 2026?
Our models put fair value at $12.41, about +13% upside versus a price of $11.00 (undervalued). Cautious scenario $6.73, optimistic scenario $17.12. The calculation is refreshed regularly with new filings.
What is the revenue of Polar Capital Holdings (PLRRF)?
Polar Capital Holdings reported trailing-twelve-month revenue of about £229M (latest available figure, as of Sep 24, 2026).
Does Polar Capital Holdings pay a dividend?
Polar Capital Holdings currently shows a dividend yield of about 4.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Polar Capital Holdings (PLRRF)?
For today's price to be fair in a discounted-cash-flow model, Polar Capital Holdings would have to grow free cash flow by +0.8 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 6 years revenue grew +3.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PLRRF use?
Our models discount Polar Capital Holdings at 11.0 %: a base by market capitalisation (small), damped by beta 0.93, country premium for USA. 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 Polar Capital Holdings that is +0.8 % 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 Polar Capital Holdings (PLRRF) delivered so far?
Over the past 6 years revenue at Polar Capital Holdings grew +3.7 % a year. The price currently implies +0.8 % 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 Polar Capital Holdings (PLRRF) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Polar Capital Holdings (+0.8 % 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 Polar Capital Holdings (PLRRF)?
The free-cash-flow yield on the price is 8.05 %: that much free cash flow Polar Capital Holdings 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 Polar Capital Holdings (PLRRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Polar Capital Holdings it is $12.41 per share (as of Sep 24, 2026), against a price of $11.00. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Polar Capital Holdings stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PLRRF trades below its calculated fair value: price $11.00, fair value $12.41, a gap of about +13% (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 PLRRF?
No. The price is what the market pays today ($11.00); the fair value is what the company's own numbers justify ($12.41). For Polar Capital Holdings the two are $1.41 per share apart. That gap is exactly why we show both numbers side by side.
How much is Polar Capital Holdings worth?
The market values Polar Capital Holdings at about $1.1B (market capitalisation, as of Sep 24, 2026). Per share that is $11.00; our models calculate a fair value of $12.41 per share.
What do the bullish and bearish scenarios say about PLRRF?
Our models span a range for Polar Capital Holdings: cautious scenario $6.73, base $12.41, optimistic $17.12 per share (as of Sep 24, 2026, price $11.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PLRRF?
Polar Capital Holdings trades at a price-to-earnings ratio of 20.4 (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 $12.41 is built from several models across several years. Other multiples: PEG 30.1, P/B 5.9, P/S 3.5, EV/EBITDA 12.5.
What is the PEG ratio of PLRRF?
The PEG ratio of Polar Capital Holdings is 30.06 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Polar Capital Holdings (PLRRF)?
Balance-sheet figures for Polar Capital Holdings (as of Sep 24, 2026): return on equity 31.2%. They feed the Quality Score of 89/100, which measures business quality independently of the share price.
How far is PLRRF from its 52-week high?
Polar Capital Holdings trades at $11.00, about 5% below its 52-week high of $11.53 and 77% above the low of $6.23 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of $12.41 is for.
Which stocks are comparable to Polar Capital Holdings?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, Apollo Global Management, 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 Polar Capital Holdings stock attractive at the current price?
The data as of Sep 24, 2026: price $11.00, calculated fair value $12.41 (+13%), Quality Score 89/100, from 11 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 PLRRF calculated?
We run Polar Capital Holdings through 11 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 $12.41, 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 14.5 % above its aggregate fair value. Polar Capital Holdings currently trades 11 % 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 Polar Capital Holdings (PLRRF)?
The closing price on Sep 29, 2026 was $11.00. Our model-based fair value is $12.41, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Polar Capital Holdings right now?
A fairly wide model range ($6.73 to $17.12) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Polar Capital Holdings
How large is the market capitalisation of Polar Capital Holdings (PLRRF)?
The market capitalisation of Polar Capital Holdings is $1.1B. 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 Polar Capital Holdings (PLRRF)?
The price-to-sales ratio of Polar Capital Holdings is 3.24 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Polar Capital Holdings (PLRRF)?
Earnings per share at Polar Capital Holdings are $0.5400 (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Polar Capital Holdings (PLRRF)?
The dividend yield of Polar Capital Holdings is 4.2% (payout 85.2%). 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 Polar Capital Holdings (PLRRF)?
The net margin of Polar Capital Holdings is 15.9% (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 Polar Capital Holdings (PLRRF)?
The return on equity (ROE) of Polar Capital Holdings is 31.2% (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 Polar Capital Holdings (PLRRF)?
On an EBIT basis the return on assets of Polar Capital Holdings is 24.1% (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 Polar Capital Holdings (PLRRF)?
The operating margin of Polar Capital Holdings is 25.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Polar Capital Holdings (PLRRF)?
Revenue at Polar Capital Holdings is growing +2.6% versus a year earlier (3y avg −0.3%). 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 Polar Capital Holdings (PLRRF)?
Earnings per share at Polar Capital Holdings are growing +22.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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