Polaris Inc. (PII) Financial Statements
Industry: Miscellaneous Transportation Equipment
In fiscal 2025, Polaris reported revenue of $7.15B, down 0.3% from $7.18B the year before. Net income was -$465.5M (a -6.5% net margin), or -$8.18 per diluted share. Gross margin was 19.1% and operating margin was -4.9%. Operating activities generated $741.0M of cash, leaving $558.1M of free cash flow. At fiscal year end, Polaris held $4.89B in total assets against $4.05B in total liabilities, including $138.0M of cash and equivalents.
Open the full interactive Polaris financials → Quarterly statements, key ratios, valuation history and price charts.
Polaris Key Stats
| Share Price | $51.58 |
|---|---|
| Market Cap | $3.01B |
| Revenue YoY Growth | -0.3% |
| 52-Week Range | $46.92 – $73.91 |
| Shares Outstanding | 57.5 million (basic, 2026 Q2) |
Polaris Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $7.03B | $8.20B | $8.59B | $8.93B | $7.18B | $7.15B |
| Cost of Goods Sold | $5.32B | $6.26B | $6.63B | $6.97B | $5.71B | $5.78B |
| Gross Profit | $1.71B | $1.94B | $1.96B | $1.96B | $1.47B | $1.37B |
| Operating Income | $212.3M | $709.0M | $804.5M | $700.9M | $290.6M | -$348.7M |
| Pre-Tax Income | $141.4M | $625.7M | $761.4M | $620.4M | $140.8M | -$532.7M |
| Income Tax | $16.5M | $131.4M | $158.0M | $117.7M | $29.6M | -$67.9M |
| Net Income | $124.8M | $493.9M | $447.1M | $502.8M | $110.8M | -$465.5M |
| Diluted EPS | $1.99 | $7.88 | $7.44 | $8.71 | $1.95 | -$8.18 |
Polaris Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.84B | $1.92B | $1.66B | $2.02B |
| Net Income | -$15.8M | -$303.6M | -$47.4M | $106.4M |
| Diluted EPS | -$0.28 | -$5.34 | -$0.83 | $1.82 |
Polaris Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $634.7M | $509.2M | $324.5M | $367.8M | $287.8M | $138.0M |
| Current Assets | $2.21B | $2.56B | $2.77B | $2.69B | $2.63B | $2.21B |
| Total Assets | $4.63B | $5.05B | $5.22B | $5.52B | $5.53B | $4.89B |
| Current Liabilities | $1.89B | $2.23B | $2.33B | $1.93B | $2.29B | $2.24B |
| Total Long-Term Debt | $1.45B | $1.80B | $2.06B | $1.91B | $2.07B | $1.54B |
| Total Liabilities | $3.48B | $3.81B | $4.10B | $4.09B | $4.22B | $4.05B |
| Shareholders' Equity | $1.14B | $1.22B | $1.10B | $1.42B | $1.29B | $828.4M |
Polaris Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.02B | $293.7M | $508.6M | $925.8M | $268.2M | $741.0M |
| Cash From Investing | -$150.7M | -$303.9M | -$324.6M | -$462.0M | -$270.9M | -$139.5M |
| Cash From Financing | -$415.4M | -$107.6M | -$363.2M | -$431.3M | -$59.2M | -$693.0M |
| Free Cash Flow | $804.7M | -$4.6M | $202.0M | $513.2M | $6.5M | $558.1M |
Figures from Polaris' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Polaris financials page for every line item.
Polaris Company Profile
| Ticker | PII |
|---|---|
| Exchange | NYSE |
| Industry | Miscellaneous Transportation Equipment |
| Headquarters | Medina, Minnesota |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000931015 |
Frequently Asked Questions
What was Polaris' revenue in fiscal 2025?
Polaris (PII) reported revenue of $7.15B for fiscal 2025.
What is Polaris' annual revenue history?
Polaris' annual revenue by fiscal year: 2020: $7.03B; 2021: $8.20B; 2022: $8.59B; 2023: $8.93B; 2024: $7.18B; 2025: $7.15B.
What was Polaris' net income in fiscal 2025?
Polaris reported net income of -$465.5M for fiscal 2025.
What was Polaris' earnings per share (EPS) in fiscal 2025?
Polaris' diluted EPS was -$8.18 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Polaris generate in fiscal 2025?
Polaris generated $558.1M of free cash flow in fiscal 2025.
What was Polaris' revenue last quarter?
In its most recent reported quarter (2026 Q2), Polaris reported revenue of $2.02B.
How much debt does Polaris have?
Polaris reported $1.54B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Polaris are outstanding?
Polaris reported a weighted average of 57.5 million basic shares outstanding in 2026 Q2.
What is Polaris' market cap?
Based on its latest closing price, Polaris (PII) has a market capitalization of about $3.01B.
When does Polaris' fiscal year end?
Polaris' fiscal year end, as registered with the SEC, is December 31.
Where is Polaris headquartered?
Polaris lists its business address in Medina, Minnesota in its SEC filings.