New Risk • May 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩4,900, the stock trades at a trailing P/E ratio of 50.1x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 111% over the past three years. New Risk • Apr 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.5% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩5,250, the stock trades at a trailing P/E ratio of 48.2x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 79% over the past three years. Annonce • Mar 17
Polaris Office Corp., Annual General Meeting, Mar 31, 2026 Polaris Office Corp., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, guro-gu, seoul South Korea New Risk • Mar 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩3,320, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 8.9% over the past three years. New Risk • May 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩6,300, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 270% over the past three years. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: ₩142 (vs ₩432 in FY 2023) Full year 2024 results: EPS: ₩142 (down from ₩432 in FY 2023). Revenue: ₩276.3b (up 156% from FY 2023). Net income: ₩7.07b (down 67% from FY 2023). Profit margin: 2.6% (down from 20% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Annonce • Mar 18
Polaris Office Corp., Annual General Meeting, Mar 31, 2025 Polaris Office Corp., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, guro-gu, seoul South Korea New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩8,540, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 303% over the past three years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩7,870, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 275% over the past three years. Annonce • Mar 28
Polaris Office Corp. (KOSDAQ:A041020), Leenos Corp. (KOSDAQ:A039980), Sewon Co.,Ltd (KOSDAQ:A234100) and POLARIS UNO, Inc. (KOSDAQ:A114630) completed the acquisition of 20% stake in EstechPharma Co., Ltd. (KOSDAQ:A041910) from Jae-cheol Kim and Seon-hee Bae. Polaris Office Corp. (KOSDAQ:A041020), Leenos Corp. (KOSDAQ:A039980), Sewon Co.,Ltd (KOSDAQ:A234100) and POLARIS UNO, Inc. (KOSDAQ:A114630) agreed to acquire 20% stake in EstechPharma Co., Ltd. (KOSDAQ:A041910) from Jae-cheol Kim and Seon-hee Bae for KRW 40 billion on February 29, 2024. As per the transaction, Polaris Office Corp., Leenos Corp., Sewon Co.,Ltd and POLARIS UNO, Inc. will purchase 2.4 million shares at KRW 16,809 per share.
Polaris Office Corp. (KOSDAQ:A041020), Leenos Corp. (KOSDAQ:A039980), Sewon Co.,Ltd (KOSDAQ:A234100) and POLARIS UNO, Inc. (KOSDAQ:A114630) completed the acquisition of 20% stake in EstechPharma Co., Ltd. (KOSDAQ:A041910) from Jae-cheol Kim and Seon-hee Bae on March 27, 2024 Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: ₩432 (vs ₩295 in FY 2022) Full year 2023 results: EPS: ₩432 (up from ₩295 in FY 2022). Revenue: ₩107.9b (up 346% from FY 2022). Net income: ₩21.3b (up 63% from FY 2022). Profit margin: 20% (down from 54% in FY 2022). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩7,940, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 20x in the Software industry in South Korea. Total returns to shareholders of 246% over the past three years. Annonce • Feb 29
Polaris Office Corp. (KOSDAQ:A041020), Leenos Corp. (KOSDAQ:A039980), Sewon Co.,Ltd (KOSDAQ:A234100) and POLARIS UNO, Inc. (KOSDAQ:A114630) agreed to acquire 20% stake in EstechPharma Co., Ltd. (KOSDAQ:A041910) from Jae-cheol Kim and Seon-hee Bae for KRW 40 billion. Polaris Office Corp. (KOSDAQ:A041020), Leenos Corp. (KOSDAQ:A039980), Sewon Co.,Ltd (KOSDAQ:A234100) and POLARIS UNO, Inc. (KOSDAQ:A114630) agreed to acquire 20% stake in EstechPharma Co., Ltd. (KOSDAQ:A041910) from Jae-cheol Kim and Seon-hee Bae for KRW 40 billion on February 29, 2024. As per the transaction, Polaris Office Corp., Leenos Corp., Sewon Co.,Ltd and POLARIS UNO, Inc. will purchase 2.4 million shares at KRW 16,809 per share. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩8,520, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 301% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩5,460, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 20x in the Software industry in South Korea. Total returns to shareholders of 148% over the past three years. New Risk • Dec 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 34% Last year net profit margin: 53% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (34% net profit margin). Shareholders have been diluted in the past year (4.7% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,100, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 176% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,585, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 165% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩4,050, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 129% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩5,420, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 140% over the past three years. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to ₩7,150, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 386% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩5,070, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 239% over the past three years. New Risk • Jul 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). High level of non-cash earnings (70% accrual ratio). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩2,715, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩2,860, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 63% over the past three years. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ₩582 (vs ₩60.00 in 1Q 2022) First quarter 2023 results: EPS: ₩582 (up from ₩60.00 in 1Q 2022). Revenue: ₩7.16b (up 13% from 1Q 2022). Net income: ₩28.2b (up ₩25.7b from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 137% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩2,380, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 21x in the Software industry in South Korea. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩2,535, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 21x in the Software industry in South Korea. Total returns to shareholders of 165% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩3,120, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩1,930, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩1,710, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 25% over the past three years. Annonce • Feb 01
Polaris Office Corp. announced that it has received KRW 1.100000898 billion in funding On January 31, 2023, Polaris Office Corp. closed the transaction. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. 1 independent director (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 27% share price gain to ₩1,485, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 14x in the Software industry in South Korea. Total returns to shareholders of 31% over the past three years. Annonce • Oct 21
Polaris Office Corp. announced that it expects to receive KRW 1.100000898 billion in funding Polaris Office Corp. announced that it will issue 1,101,102 common shares at a price of KRW 999 per share for gross proceeds of KRW 1,100,000,898 on October 19, 2022. The company will issue shares through third party allocation increase method. The payment date for shares is January 31, 2023. The transaction has been approved by board of directors of the company. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₩1,590, the stock trades at a trailing P/E ratio of 50.9x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩1,480, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 21% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. 1 independent director (10 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩2,725, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 29x in the Software industry in South Korea. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₩2,570, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 26x in the Software industry in South Korea. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 30% share price gain to ₩2,350, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 14% over the past three years. Reported Earnings • Mar 19
Full year 2020 earnings released: ₩3.00 loss per share (vs ₩183 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: ₩19.5b (down 7.4% from FY 2019). Net loss: ₩107.4m (loss narrowed 98% from FY 2019). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 20
New 90-day high: ₩2,275 The company is up 70% from its price of ₩1,340 on 21 August 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 12% over the same period.