Polaris Inc. (PII)
Polaris Inc. designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off Road, On Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters; quadricycles; and pontoon and deck boats. It also provides source parts, garments, and accessories, such as helmets, jackets, gloves, pants, and hats; and snowmobile accessories comprising covers, traction products, reverse kits, electric starters, tracks, pull-behinds, bags, and windshields, as well as gear and apparel for its snowmobiles consisting of helmets, jackets, goggles, gloves, boots, bibs, pants, and hats. In addition, the company offers ORV accessories, including winches, bumper/brushguards, plows, racks, wheels and tires, cab systems, lighting and audio systems, cargo box accessories, and tracks, as well as replacement parts and lubricants. Further, it provides motorcycle accessories, such as performance enhancements, saddle bags, handlebars, backrests, exhausts, windshields, seats, and various chrome accessories, as well as light duty hauling and passenger vehicles. The company sells its products through dealers and distributors, as well as online. The company was formerly known as Polaris Industries Inc. Polaris Inc. was founded in 1945 and is headquartered in Medina, Minnesota.
- Symbol
- PII
- Exchange
- NYSE
- Sector
- Consumer Cyclical
- Industry
- Recreational Vehicles
- Market cap
- $3.07B
- 52 week range
- 47.14 - 77.98
Valuation
- Share price
- $52.94 (close of 2026-09-23)
- P/E (TTM)
- -6.88x
- Price to book
- 4.07x
- Price to free cash flow
- 19.12x
- Enterprise value
- $4.99B
- Book value per share
- $13.27
Price performance
| Period | Change |
|---|
| 1 day | -2.70% |
| 5 days | -8.55% |
| 1 month | -17.78% |
| 3 months | -22.92% |
| 6 months | -5.18% |
| Year to date | -16.30% |
| 1 year | -5.46% |
| 3 years | -49.28% |
| 5 years | -56.02% |
| 10 years | -29.31% |
| All time | +3051.19% |
Profitability and growth
- Return on equity
- -55.89%
- Return on invested capital
- -11.90%
- Return on assets
- -9.51%
- Return on capital employed
- -13.16%
- Gross margin
- 19.14%
- Net margin
- -6.51%
- EBITDA margin
- -0.87%
- Revenue growth
- -0.33%
- Net income growth
- -520.13%
- Free cash flow growth
- 8486.15%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 5.23%
- Current ratio
- 1.21x
- Net debt to EBITDA
- -16.68x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $7.15B
- Cost of revenue
- $5.78B
- Gross profit
- $1.37B
- EBITDA
- $-62.20M
- Net income
- $-465.50M
- Earnings per share
- $-8.18
- Research and development
- $371.90M
- Interest expense
- $131.40M
- Shares outstanding
- 56.90M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $7.15B | $1.37B | $-465.50M | $-8.18 |
| 2024-12-31 | $7.18B | $1.47B | $110.80M | $1.96 |
| 2023-12-31 | $8.93B | $1.96B | $502.80M | $8.80 |
| 2022-12-31 | $8.59B | $1.96B | $447.10M | $7.54 |
| 2021-12-31 | $7.44B | $1.75B | $493.90M | $8.06 |
| 2020-12-31 | $6.28B | $1.54B | $124.80M | $2.02 |
| 2019-12-31 | $6.78B | $1.65B | $324.00M | $5.27 |
| 2018-12-31 | $6.08B | $1.50B | $335.30M | $5.36 |
| 2017-12-31 | $5.43B | $1.32B | $172.49M | $2.74 |
| 2016-12-31 | $4.52B | $1.11B | $212.95M | $3.31 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 19.14% | -6.51% | -55.89% | -11.90% |
| 2024-12-31 | 20.44% | 1.54% | 8.56% | 8.14% |
| 2023-12-31 | 21.94% | 5.63% | 35.39% | 18.78% |
| 2022-12-31 | 22.81% | 5.21% | 40.59% | 21.95% |
| 2021-12-31 | 23.54% | 6.64% | 40.28% | 22.06% |
| 2020-12-31 | 24.45% | 1.99% | 10.90% | 20.46% |
| 2019-12-31 | 24.31% | 4.78% | 29.24% | 14.41% |
| 2018-12-31 | 24.70% | 5.52% | 38.67% | 14.75% |
| 2017-12-31 | 24.40% | 3.18% | 18.51% | 12.50% |
| 2016-12-31 | 24.48% | 4.71% | 24.56% | 13.29% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $138.00M | $1.51B |
| 2024-12-31 | $287.80M | $2.03B |
| 2023-12-31 | $367.80M | $1.86B |
| 2022-12-31 | $324.50M | $1.50B |
| 2021-12-31 | $502.30M | $1.25B |
| 2020-12-31 | $631.70M | $1.31B |
| 2019-12-31 | $157.10M | $1.53B |
| 2018-12-31 | $161.20M | $1.90B |
| 2017-12-31 | $138.34M | $865.27M |
| 2016-12-31 | $127.33M | $1.14B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $558.10M | $59.90M |
| 2024-12-31 | $6.50M | $49.20M |
| 2023-12-31 | $513.20M | $57.40M |
| 2022-12-31 | $202.00M | $62.90M |
| 2021-12-31 | $10.90M | $60.60M |
| 2020-12-31 | $814.30M | $65.30M |
| 2019-12-31 | $403.70M | $75.00M |
| 2018-12-31 | $251.70M | $64.00M |
| 2017-12-31 | $401.02M | $50.05M |
| 2016-12-31 | $380.49M | $57.93M |
Dividend history
- Most recent payment
- 2026-09-01
- Paid in the last twelve months
- $2.71
| Payment date | Dividend per share |
|---|
| 2026-09-01 | $0.68 |
| 2026-06-01 | $0.68 |
| 2026-03-02 | $0.68 |
| 2025-12-01 | $0.67 |
| 2025-09-02 | $0.67 |
| 2025-06-02 | $0.67 |
| 2025-03-03 | $0.67 |
| 2024-12-02 | $0.66 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-27
- Consensus EPS estimate
- $0.62
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-28 | Jun/2026 | $0.77 |
| 2026-04-28 | - | - |
| 2026-01-27 | - | - |
| 2025-10-28 | - | - |
| 2025-07-29 | - | - |
| 2025-04-29 | - | - |
| 2025-01-28 | - | - |
| 2024-10-22 | - | - |
Filings and sources
- Company website
- polaris.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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