# Polar Capital Holdings Plc (POLR.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Capital Markets. Price 834p, market value 786 millionp.

## Valuation
- **P/E (trailing): 14.1×** (5-yr avg 1162.9×, 3-yr avg 1099.6×). Polar Capital Holdings Plc trades at 14.1× trailing earnings, well below its own five-year average of 1162.9×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 7.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.12**. A PEG of 0.12 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.6×**. Each dollar of revenue is priced at 1.6×.
- **Price / book: 5.4×**. The shares trade at 5.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 3.9×**. Enterprise value is 3.9× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 17.8%** (5-yr avg 0.1%). Free cash flow equals 17.8% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 7.1%**. The inverse of the P/E: 7.1% of the price is earned each year.

## Profitability
- **Gross margin: 85.0%**. Polar Capital Holdings Plc keeps 85.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 27.7%**. 27.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 22.2%**. 22.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 38.9%**. 38.9% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: -189.8%**. Return on all capital, debt included, is -189.8%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 37.9%**. Each dollar of assets produces 37.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 19.0%** (3-yr 12.6%/yr, 5-yr 3.9%/yr). Revenue grew 19.0% over the last year, against 3.9% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 63.9%** (3-yr 17.9%/yr, 5-yr -1.6%/yr). Earnings per share rose 63.9%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 16.2%/yr**. Free cash flow has compounded at 16.2% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 208 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 5.35%** (0p per share, trailing). Polar Capital Holdings Plc yields 5.35%, an income-level yield.
- **Payout ratio: 76%** (63% of free cash flow). 76% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 10**. 10 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 6.2%/yr** (1-yr 0.0%). The dividend has grown 6.2% a year over five years.
- **Shareholder yield: 6.3%**. Dividends plus net buybacks return 6.3% of the market value a year.

## Analyst view
- **Analyst consensus: strong_buy** (8 analysts). 8 analysts cover Polar Capital Holdings Plc; the consensus is strong_buy, with an average price target of 1196p (+43% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 95.5%** (YTD 63.1%, 3-mo 4.4%). The shares are up 95.5% over twelve months including dividends.
- **From 52-week high: -15.7%** (91.6% above the low). Trading 16% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 51**. An RSI of 51 is neutral.
- **Beta (1 yr): 0.89** (volatility 35%). Beta of 0.89 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=POLR.L · Page: https://foliofundamentals.com/stocks/polr.l

Not investment advice.