Employees: 2,495
Size Polaris Media (POL.OL) is a Norway Communication Services company (Publishing: Newspapers) with a market value of $307M, the 113th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 58.20 on 6 Nov 2026.
Performance Over six months the shares gained 3.6%, against -2.8% for the median peer and +2.7% for the Norway market (cap-weighted) — 3rd highest of 7 in its peer set.
Growth Revenue fell 0.2% over the last twelve months (peer median -4.1%); the operating margin is 2.0% (peer median 6.6%).
Valuation It trades at 0.8× enterprise value to sales against a peer median of 1.9× (3rd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.1 points below its cost of capital (5.7% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 3.42B | NOK 3.43B | NOK 3.38B | NOK 3.42B | NOK 3.41B |
| Revenue growth | — | +1% | -1% | 0% | — |
| Gross profit | NOK 818M | NOK 782M | NOK 764M | NOK 681M | NOK 708M |
| EBITDA | NOK 297M | NOK 148M | NOK 184M | NOK 183M | NOK 316M |
| Net income | NOK 10.5M | NOK 7.50M | NOK 678M | -NOK 47.0M | NOK 48.1M |
| Free cash flow | NOK 204M | NOK 171M | NOK 834M | NOK 104M | NOK 185M |
| Capital expenditure | NOK 59.5M | NOK 70.8M | NOK 71.1M | NOK 75.3M | NOK 88.4M |
| Total debt | NOK 532M | NOK 557M | NOK 633M | NOK 1.24B | NOK 1.01B |
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| Measure | POL.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | -0.1% | 3rd lowest of 7 |
| 6-month return | +3.6% | -2.8% | 3rd highest of 7 |
| Distance from 52-week high | -9.9% | -25.0% | 3rd highest of 7 |
| Revenue growth (TTM) | -0.2% | -4.1% | 3rd highest of 7 |
| Operating margin | 2.0% | 6.6% | 3rd lowest of 7 |
| EV / Sales | 0.8× | 1.9× | 3rd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | 11.5% | -3.5% | 2nd most demanding of 7 |
| Growth delivered (Del g) | +1.2% | -1.1% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | +10.3 pp | -1.2 pp | 2nd most demanding of 7 |
| ROIC minus cost of capital | -2.1 pp | -0.4 pp | 3rd lowest of 6 |
| EV / EBITDA | 8.7× | 6.0× | 2nd most expensive of 5 |
| Net debt / EBITDA | -1.3× | 1.2× | 2nd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Polaris Media POL.OL | Norway | $307M | +4% | 0% | 2% | 0.8× | 11.5% | +1.2% |
| Caltagirone Editore CED.MI | Italy | $309M | +19% | -6% | -19% | 2.9× | -11.8% | -3.3% |
| Transcontinental TCL-A.TO | Canada | $338M | 0% | -43% | 11% | 0.6× | -12.6% | +1.3% |
| RCS MediaGroup RCS.MI | Italy | $484M | -15% | -3% | 8% | 0.7× | -5.9% | +1.0% |
| Zhejiang Huamei 000607.SZ | China | $598M | -5% | +3% | -23% | 3.6× | -1.2% | -5.7% |
| Daily Journal DJCO | United States | $885M | +28% | +23% | 13% | 4.8× | 22.0% | +11.9% |
| USA TODAY TDAY | United States | $965M | -14% | -7% | 6% | 0.9× | 9.8% | -7.5% |