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PSNY
ACCE-researched

Polestar Automotive Holding UK PLC Class A ADS (PSNY) fair value

Consumer Cyclical · Auto Manufacturers · NASDAQ · United States
$3.67+2.80%
Market cap $586MNext earnings 2026-09-03Updated Oct 24, 2026
Our verdict
Trades 51% below our fair value
Price
$3.67
Model fair valueConfidence: low
about $7.50
Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
Not used by alerts or posts.
Valued as a loss-making company: Analyst consensus.
ACCE opinionPolestar Automotive Holding UK PLC Class A ADS (PSNY)
Fair value
Not available
ACCE price target
$2.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 20 Oct 2026, 02:20 CEST; previously $3.00 since 13 Oct 2026, 00:00 CEST.
Price used: $3.67 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
15
out of 100
Analysts
0% buy
3 covering
P/E
0.0x
forward -0.6x
1-year return
-85.6%
Dividend yield
0.00%

Polestar Automotive Holding UK PLC Class A ADS in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Polestar designs and sells premium electric cars, including the Polestar 2, 3 and 4, with manufacturing in China and the US and backing from Geely and Volvo Cars. Design and the shareholder links offer some engineering and supply support. The driver is volume growth and cost reduction. Revenue fell 4.4%, the gross margin is -5.7% and the operating margin -40.9%, so it depends on funding from its owners.

AI-assisted·How I use AIWritten Oct 14, 2026
⚠ Investor warnings · 5 flagsAI-assisted·How I use AI
  • severe
    Negative gross margin
    Gross margin of -5.7% indicates the company loses money on each unit sold before operating costs. Unsustainable business model.
  • severe
    Massive cash burn
    Negative FCF of $1.02B annually with revenue of only $2.9B signals the company is consuming capital at an alarming rate.
  • severe
    ACCE score collapse
    Score fell 16 points in 90 days (31 to 15), now in bottom decile. Quality and margin scores deteriorated sharply.
  • high
    Revenue decline with losses
    Revenue down 4.4% YoY while operating margin is -40.9% and net margin -67.0%. Company is shrinking and unprofitable.
  • high
    Debt structure distress signal
    Debt/Equity ratio of -1.24 indicates negative equity. Company has liabilities exceeding assets; balance sheet is inverted.

AI research notes

AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Polestar has delivered 7.5% average annual revenue growth over five years, demonstrating underlying demand for its vehicles.
  • Analyst consensus price target of $7.50 implies 42.6% upside from the current $5.26 share price.
  • The company is in a capital-intensive scaling phase where losses are typical before reaching volume profitability.
Why it could disappoint
  • Revenue contracted 4.4% year over year, which is alarming for a growth-stage automaker that should be expanding.
  • Negative 67.0% net margin means the company loses money on every vehicle sold before covering fixed costs.
  • Share count surged 31.5% in the last fiscal year while free cash flow burned $1.0B, signaling unsustainable dilution.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

PRO

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Valuation

INVESTOR
Where PSNY's valuation models land
Price
$3.67
Model fair valueConfidence: low
about $7.50
Model
Fair value
Upside
Analyst consensus
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Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Bearish0% buy · 3 covering analysts
● Strong buy 0● Buy 0● Hold 1● Sell 1● Strong sell 1
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
-5.9%
1 month
-48.9%
3 months
-73.2%
6 months
-79.5%
YTD
-82.8%
1 year
-85.6%

SEC filings

Recent ACCE blog coverage

  • $PSNY Reports 45.4% Revenue Growth Amid Deep Losses
    Polestar $PSNY posted 45.4% year-over-year revenue growth in its latest quarter, but deep losses and an ACCE score of 29/100 tell a complicated story.
    2026-07-17

Recommendation history, last 12 months

DateTypeNewPreviousPrice
20 Oct 2026, 02:20 CESTACCE price target$2.00$3.00$3.38
13 Oct 2026, 00:00 CESTACCE price target$3.00$6.50$4.58
29 Sept 2026, 00:00 CESTACCE price target$6.50first publication$6.64

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth7Value23Quality13Momentum17Total15
Valuation
Trailing P/E
0.0x
Forward P/E
-0.6x
PEG
no data
P/B
1.73x
EV / Revenue
2.1x
Book value/sh
$-28.80
Enterprise value
$6.4B
Profitability
ROE
-397.7%
FCF yield
-233.56%
ROIC
no data
Health and risk
Debt / equity
-1.27
Dividend yield
0.00%
Beta
1.82

Price

-86.1% · 1Y

Ask anything about PSNY

Answered from Polestar Automotive Holding UK PLC Class A ADS fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 100% of peers
low 0.0x0.0xhigh 43.3x
ROEbetter than 0% of peers
low -398%-398%high 12%
Div yieldbetter than 33% of peers
low 0.0%0.0%high 5.1%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
PSNY Polestar Automotive Holding UK PLC Class A ADS$3.67----397.7%1315
7211.T Mitsubishi Motors Corporation¥345.90--43.3x2.3%3453
VOLCAR-B.ST Volvo Car AB (publ.)kr 10.70kr 916% above3.3x3.6%4251
7261.T Mazda Motor Corporation¥1085.00--19.5x5.9%4365
7201.T Nissan Motor Co., Ltd.¥268.70----7.7%1730
7202.T Isuzu Motors Limited¥2113.50--10.1x11.6%5257
TMPV.NS Tata Motors Passenger Vehicles Limited₹264.60----6743

Sector report card

Where PSNY ranks against its sector peers on each metric.

Computing percentiles…
  • PR Newswire•Oct 14, 2026
    Mighty Auto Parts Announces New Franchise Partnership with McDonald Automotive
  • Business Wire•Oct 8, 2026
    Polestar Reports Record Nine-Month Retail Sales and Its Strongest Third Quarter
  • PR Newswire•Sep 17, 2026
    ECARX Surpasses 12 Million Vehicles Globally, Marking New Milestone in Automotive Intelligence
8 more press releases · full archive on Investor+.INVESTOR
40 filings
October 2026
Oct 8
6-KForeign current reportPeriod 2026-10-08
View on SEC →
September 2026
Sep 3
6-KForeign current reportPeriod 2026-09-03
View on SEC →
Sep 3
6-KForeign current reportPeriod 2026-06-30
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR