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Polaris Media ASA (POL) Fair Value & Analysis

Communication Services · NO · Market cap 2.9B NOK

PM Polaris Media ASA POL · OL
Pricekr 58.80
Fair Valuekr 32.46
Upside-44.8%
Quality60/100
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Weak Growth
Thin margins · 0.3% net margin
Low debt · generates free cash flow
5.50% dividend yield
Trails peers (5/14)
Narrow moat 26/100
Evidence: High Range kr 24.37 – kr 40.55 Share as image

Fair value as of: Jul 18, 2026

From 20 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from kr 18.03 to kr 32.46 (+80.0%) since Jun 24, 2026. Share price +0.3% over the past month.

A solid business, but screening 45% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 40.55). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 92.71 kr 40.68 Fair Value kr 32.46 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 40.68 – kr 92.71 · fair‑value band kr 24.37 – kr 40.55 · the kr 58.80 price screens above the kr 32.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Polaris Media ASA (POL) currently trades at kr 58.80, while our model-based Fair Value estimate is kr 32.46, implying the stock looks roughly 44.8% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Polaris Media ASA generated revenue of 3.4B NOK at a net margin of 0.2%. Revenue grew 0.5% year over year. It earns a return on equity of 0.6%. Net debt stands at 968M NOK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 24.37 (bear case) to kr 40.55 (bull case); at kr 58.80, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 33% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at -45%, POL screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth DCF kr 37.31 kr 49.37 kr 65.34 80
Residual Income kr 26.30 kr 23.89 kr 16.21 76
Rev-Margin DCF kr 33.45 kr 47.32 kr 62.51 74
All 20 models by family
DCF Models
FCF DCF kr 36.63 kr 49.87 kr 68.28 38
Owner Earnings kr 42.54 kr 58.39 kr 80.44 31
5Y Revenue Exit kr 33.45 kr 47.01 kr 63.75 39
5Y EBITDA Exit kr 36.75 kr 52.94 kr 71.13 41
5Y P/E Exit kr 19.24 kr 21.40 kr 23.36 38
10Y Revenue Exit kr 33.65 kr 45.89 kr 61.17 36
10Y EBITDA Exit kr 36.41 kr 49.83 kr 66.49 37
10Y P/E Exit kr 25.66 kr 28.85 kr 32.07 35
Earnings-Based
Graham-Dodd kr 1.04 kr 2.65 kr 3.44 54
PEG = 1.0 kr 0.4900 kr 0.7000 kr 0.9100 46
Multiples
P/E Multiple kr 2.53 kr 3.37 kr 4.21 63
P/S Multiple kr 1.95 kr 2.60 kr 3.25 58
P/B Multiple kr 1.95 kr 2.60 kr 3.25 55
EV/EBITDA kr 41.00 kr 52.44 kr 63.88 54
EV/Revenue kr 33.13 kr 44.47 kr 55.81 43
Asset-Based
NCAV (Graham) kr 19.93 kr 26.71 kr 39.86 50
Growth DCF
Growth DCF kr 37.31 kr 49.37 kr 65.34 80
Rev-Margin DCF kr 33.45 kr 47.32 kr 62.51 74
Economic Profit
Residual Income kr 26.30 kr 23.89 kr 16.21 76
Growth Earnings
Growth-Adj P/E kr 1.95 kr 2.78 kr 3.62 68

Widest divergence: Growth DCF (kr 47.32) versus Earnings-Based (kr 0.7000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.4B NOK
Revenue growth (YoY) +0.2%
Net margin 0.3%
Return on equity 0.9%
Free cash flow 142M NOK FY2025
P/E ratio 272.7
More key figures
Operating margin -0.4%
EPS (TTM) kr 0.2200
Dividend yield 5.5%
EPS growth (YoY) -94.4%
Net debt 968M NOK FY2023

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 60

Profitability 42
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Polaris Media ASA operates as a media house and printing company in Norway and Sweden. The company provides digital advertising services. It also offers print group and external newspapers, including editorial supplements and advertising supplements, civilian printing, and other magazines/supplements.

Full company description

Polaris Media ASA operates as a media house and printing company in Norway and Sweden. The company provides digital advertising services. It also offers print group and external newspapers, including editorial supplements and advertising supplements, civilian printing, and other magazines/supplements. In addition, the company distributes newspapers, as well as parcels, mail, and other goods deliveries. Polaris Media ASA was founded in 2008 and is headquartered in Trondheim, Norway.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Polaris Media ASA reported revenue of kr 3.4B in FY2025 versus kr 3.5B in FY2021, a compound −0.3%/yr. Reported net income was kr 7.5M in FY2025, compounding −52.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.4B NOK
Latest YoY
−4.6%
Avg. growth/yr (3Y) 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.
+0.2%
Avg. growth/yr (5Y) 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.
+1.2%
Avg. growth/yr (17Y) 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.
+7.3%
Revenue −0.3%/yr
FY21 kr 3.5B
FY22 kr 3.4B
FY23 kr 3.4B
FY24 kr 3.6B
FY25 kr 3.4B
Net income −52.8%/yr
FY21 kr 151M
FY22 kr 75.5M
FY23 −kr 47.0M
FY24 kr 678M
FY25 kr 7.5M
Character of growth · EPS growth decomposed (2012-2023) −3.3 % p.a.
Revenue per share +5.3 pp

of which total revenue +8.8 pp · buybacks/dilution −3.6 pp

EBIT margin +7.0 pp
Tax rate −0.5 pp
Residual (interest, one-offs) −15.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

POL screens 45% overvalued. Compare with The New York Times Company →

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Cite: Fair Value Calculator (2026). "Polaris Media ASA Fair Value". https://www.fairvalue-calculator.com/stock/POL

Peer Group

Publishing · 111 stocks

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.

Quality Score 60 · Above median
Fair Value upside −45% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) -0% · Below median
Revenue growth 0% · Above median
Dividend yield (TTM) 5.5% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 272.7× · Pricier than 75% of peers
P/B 1.51× · Pricier than median
P/S (TTM) 0.86× · Pricier than median
P/FCF 2.2× · Cheaper than median
EV/EBITDA 17.3× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 38
FUTURE 1 · sector 0
PAST 4 · sector 21
HEALTH 100 · sector 99
DIVIDEND 100 · sector 57

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Polaris Media ASA (POL) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 32.46 versus a price of kr 58.80, about −45% (overvalued).
What is the fair value of POL?
Our model-based fair value for Polaris Media ASA is kr 32.46 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 58.80.
What is the quality score of POL?
Polaris Media ASA has a Quality Score of 60/100. 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 revenue of Polaris Media ASA (POL)?
Polaris Media ASA reported trailing-twelve-month revenue of about 3.4B NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of POL?
The net profit margin of Polaris Media ASA is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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