PII
$52.15-2.51%
Polaris Inc.Stock · Consumer DiscretionaryRussell 2000 0.1%Russell 3000 0.005%US Stock Market 0.005%Emerging Markets 0.0007%
PII financial statements
The full income statement, balance sheet, and cash-flow statement for Polaris Inc. (PII), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 55.7M2024-09 55.8M2024-12 56.1M2025-03 56.2M2025-06 56.2M2025-09 56.2M2025-12 56.7M2026-03 56.9M2026-06 56.9M+2.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 7.15B-0.3% | 7.18B-19.7% | 8.93B+4.0% | 8.59B+15.5% | 7.44B+18.4% | |
| 1.37B-6.7% | 1.47B-25.2% | 1.96B+0.0% | 1.96B+11.9% | 1.75B+14.0% | ||
| Cost of revenue | 5.78B+1.3% | 5.71B-18.2% | 6.97B+5.2% | 6.63B+16.5% | 5.69B+19.9% | |
| 1.80B+41.4% | 1.27B-4.9% | 1.34B+11.3% | 1.20B+10.1% | 1.09B-0.2% | ||
| Research & development | 372M+10.4% | 337M-10.0% | 374M+2.1% | 367M+11.6% | 329M+14.1% | |
| Selling, general & administrative | 542M+24.1% | 437M+3.2% | 423M+18.8% | 356M+16.4% | 306M+3.3% | |
| General & administrative | 542M+24.1% | 437M+3.2% | 423M+18.8% | 356M+16.4% | 306M+3.3% | |
| Selling & marketing | 505M+0.9% | 500M-7.7% | 542M+12.8% | 481M+4.9% | 458M+6.6% | |
| Amortization of intangibles | 23.0M+5.0% | 21.9M+23.7% | 17.7M-5.9% | 18.8M-17.9% | 22.9M-6.1% | |
| Operating income | -349M-220.0% | 291M-58.5% | 701M-12.9% | 805M+13.0% | 712M+36.7% | |
| Interest expense | 131M-4.1% | 137M+9.6% | 125M+74.3% | 71.7M+62.2% | 44.2M-33.8% | |
| Other non-operating income | -52.6M-310.9% | -12.8M-128.8% | 44.5M+55.6% | 28.6M+1343.5% | -2.30M+39.5% | |
| Pre-tax income | -533M-478.3% | 141M-77.3% | 620M-18.5% | 761M+21.1% | 629M+39.6% | |
| Income tax | -67.9M-329.4% | 29.6M-74.9% | 118M-25.5% | 158M+19.6% | 132M+46.9% | |
| -466M-520.1% | 111M-78.0% | 503M+12.5% | 447M-9.5% | 494M+295.8% | ||
| Income from continuing operations | — | 111M-78.0% | 503M-16.6% | 603M+21.5% | 496M+37.7% | |
| Discontinued operations | — | 0.00 | 0.00+100.0% | -13.2M-473.9% | -2.30M+99.0% | |
| Net income to non-controlling interest | 700K+75.0% | 400K+500.0% | -100K-120.0% | 500K+25.0% | 400K+300.0% | |
| -$8.18-519.5% | $1.95-77.6% | $8.71+17.1% | $7.44-5.6% | $7.88+296.0% | ||
| EPS (basic) | -$8.18-517.3% | $1.96-77.7% | $8.80+16.7% | $7.54-6.5% | $8.06+299.0% | |
| Weighted-avg shares (basic) | 56.9M+0.7% | 56.5M-1.1% | 57.1M-3.7% | 59.3M-3.3% | 61.3M-1.0% | |
| Weighted-avg shares (diluted) | 56.9M+0.2% | 56.8M-1.6% | 57.7M-4.0% | 60.1M-4.1% | 62.7M+0.2% | |
| Dividends per share | $2.68+1.5% | $2.64+1.5% | $2.60+1.6% | $2.56+1.6% | $2.52+1.6% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.21B-16.2% | 2.63B-2.2% | 2.69B-2.7% | 2.77B+8.2% | 2.56B+15.9% | ||
| Cash & equivalents | 138M-52.1% | 288M-21.8% | 368M+13.3% | 325M-35.4% | 502M-20.5% | |
| Accounts receivable | 238M+23.5% | 192M-37.2% | 306M-10.7% | 343M+50.5% | 228M-11.4% | |
| Inventory | 1.41B-18.9% | 1.74B-3.8% | 1.81B-4.5% | 1.90B+25.5% | 1.51B+28.3% | |
| Prepaid expenses | 367M-7.3% | 396M+99.8% | 198M+7.8% | 184M+21.7% | 151M+12.5% | |
| 4.89B-11.4% | 5.53B+0.2% | 5.52B+5.7% | 5.22B+3.4% | 5.05B+9.0% | ||
| Property, plant & equipment | 1.03B-13.2% | 1.19B-1.2% | 1.20B+18.0% | 1.02B+9.8% | 928M+4.4% | |
| Operating lease right-of-use | 121M-4.9% | 127M-11.6% | 144M+29.6% | 111M+22.7% | 90.5M-27.8% | |
| Goodwill | 349M-11.4% | 394M-0.2% | 394M+2.1% | 386M-1.3% | 391M-1.5% | |
| Intangible assets | 451M-16.9% | 543M+6.0% | 512M-2.4% | 524M-3.6% | 544M-20.8% | |
| Deferred tax assets | 526M+36.6% | 385M+30.0% | 296M+40.6% | 211M+29.2% | 163M-8.3% | |
| Other non-current assets | 78.5M-35.3% | 121M-10.6% | 136M+27.3% | 107M+9.8% | 97.2M+7.8% | |
| 2.24B-2.2% | 2.29B+18.6% | 1.93B-17.0% | 2.33B+4.4% | 2.23B+18.0% | ||
| Accounts payable | 763M+35.5% | 563M-21.1% | 713M-15.9% | 848M+9.2% | 776M-0.8% | |
| Accrued liabilities | 1.35B+7.6% | 1.26B+12.1% | 1.12B+25.3% | 897M+18.5% | 757M | |
| Deferred revenue | 36.9M+3.7% | 35.6M+0.8% | 35.3M-0.6% | 35.5M+2.3% | 34.7M-8.2% | |
| Short-term & current debt | 34.8M-92.0% | 434M+704.3% | 54.0M-90.2% | 554M+0.1% | 553M+289.4% | |
| Current lease liability | 28.1M-2.4% | 28.8M-2.4% | 29.5M+22.4% | 24.1M+24.2% | 19.4M-44.1% | |
| Other current liabilities | 40.5M+11.3% | 36.4M-15.5% | 43.1M+40.8% | 30.6M | — | |
| Finance lease liability (current) | 1.90M+18.8% | 1.60M-5.9% | 1.70M+13.3% | 1.50M+7.1% | 1.40M-6.7% | |
| 4.05B-4.0% | 4.22B+3.4% | 4.09B-0.5% | 4.10B+7.7% | 3.81B+9.6% | ||
| Long-term debt | 1.51B-25.7% | 2.03B+9.4% | 1.86B+23.5% | 1.50B+20.6% | 1.25B-4.7% | |
| Deferred revenue (non-current) | 78.5M+3.7% | 75.7M+0.9% | 75.0M-0.8% | 75.6M+2.7% | 73.6M+6.2% | |
| Non-current lease liability | 97.1M-2.6% | 99.7M-13.4% | 115M+32.3% | 87.0M+22.0% | 71.3M-22.8% | |
| Operating lease liability (total) | 125M-2.6% | 129M-11.1% | 145M+30.2% | 111M-33.8% | 168M+32.1% | |
| Finance lease liability (total) | 7.30M-9.9% | 8.10M-21.4% | 10.3M-9.6% | 11.4M-15.6% | 13.5M-16.7% | |
| Finance lease liability | 5.40M-16.9% | 6.50M-24.4% | 8.60M-13.1% | 9.90M-18.2% | 12.1M-17.7% | |
| Deferred tax liabilities | 7.30M+19.7% | 6.10M+125.9% | 2.70M-41.3% | 4.60M-16.4% | 5.50M+25.0% | |
| Other non-current liabilities | 306M+4.3% | 293M-1.2% | 297M+9.6% | 271M+53.5% | 177M+6.1% | |
| 828M-35.8% | 1.29B-9.1% | 1.42B+29.1% | 1.10B-10.2% | 1.22B+6.9% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 600K+0.0% | 600K+0.0% | 600K+0.0% | 600K+0.0% | 600K+0.0% | |
| Additional paid-in capital | 1.33B+5.0% | 1.27B+2.8% | 1.23B+6.9% | 1.15B+0.7% | 1.14B+16.3% | |
| Retained earnings | -469M-415.0% | 149M-38.9% | 244M+620.4% | 33.8M-78.5% | 157M-28.0% | |
| Accumulated other comprehensive income | -32.1M+74.4% | -126M-118.3% | -57.5M+34.3% | -87.5M-13.0% | -77.4M-32.5% | |
| Non-controlling interest | 4.50M+7.1% | 4.20M+75.0% | 2.40M-4.0% | 2.50M+25.0% | 2.00M+566.7% | |
| Total equity incl. non-controlling | 833M-35.6% | 1.29B-8.9% | 1.42B+29.0% | 1.10B-10.2% | 1.23B+7.1% | |
| Total liabilities & equity | 4.89B-11.4% | 5.53B+0.2% | 5.52B+5.7% | 5.22B+3.4% | 5.05B+9.0% | |
| Common shares issued | 56.5M+0.7% | 56.1M-0.7% | 56.5M-0.9% | 57.0M-5.6% | 60.4M-2.4% | |
| Common shares outstanding | 56.5M+0.7% | 56.1M-0.7% | 56.5M-0.9% | 57.0M-5.6% | 60.4M-2.4% | |
| Shares outstanding (cover) | 56.7M+1.1% | 56.1M-0.5% | 56.4M-1.2% | 57.1M-5.0% | 60.0M-3.1% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 741M+176.3% | 268M-71.0% | 926M+82.0% | 509M+73.2% | 294M-71.2% | ||
| Depreciation & amortization | 287M+0.1% | 286M+10.6% | 259M+11.2% | 233M+7.6% | 216M-8.2% | |
| Intangible amortization | 23.0M+5.0% | 21.9M+23.7% | 17.7M-5.9% | 18.8M-17.9% | 22.9M-6.1% | |
| Share-based compensation | 59.9M+21.7% | 49.2M-14.3% | 57.4M-8.7% | 62.9M+3.8% | 60.6M-7.2% | |
| Deferred income taxes | -139M-60.4% | -86.7M+0.1% | -86.8M-77.5% | -48.9M-421.7% | 15.2M+118.2% | |
| Change in receivables | 34.1M+133.0% | -103M-111.0% | -49.0M-140.0% | 123M+6911.1% | -1.80M-102.8% | |
| Change in inventory | -184M-364.8% | -39.5M+65.7% | -115M-129.4% | 391M-20.2% | 490M+699.5% | |
| Change in payables | 197M+238.7% | -142M+1.4% | -144M-300.6% | 71.7M+129.8% | 31.2M-90.4% | |
| -140M+48.5% | -271M+41.4% | -462M-42.3% | -325M-6.8% | -304M-101.7% | ||
| Capital expenditure | 183M-30.1% | 262M-36.6% | 413M+34.6% | 307M+8.4% | 283M+38.4% | |
| Free cash flow | 558M+8486.2% | 6.50M-98.7% | 513M+154.1% | 202M+1753.2% | 10.9M-98.7% | |
| Acquisitions | 0.00 | 0.00-100.0% | 22.7M+153.8% | -42.2M | 0.00 | |
| -693M-1070.6% | -59.2M+86.3% | -431M-18.8% | -363M-237.5% | -108M+74.1% | ||
| Long-term debt issued | 3.14B-15.0% | 3.69B+33.4% | 2.77B-7.3% | 2.99B+23.2% | 2.42B+77.5% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 2.40M-97.1% | 82.7M-53.7% | 179M-64.6% | 505M+9.4% | 462M+817.7% | |
| Dividends paid | 150M+1.8% | 148M+0.3% | 147M-1.8% | 150M-2.2% | 153M+0.6% | |
| FX effect on cash | 24.8M+237.8% | -18.0M-268.2% | 10.7M+204.9% | -10.2M+3.8% | -10.6M-221.8% | |
| Net change in cash | -66.7M+16.5% | -79.9M-285.0% | 43.2M+122.8% | -189M-47.5% | -128M-127.8% | |
| Interest paid | 126M-11.3% | 142M+17.3% | 121M+69.4% | 71.2M+58.9% | 44.8M-33.1% | |
| Income taxes paid | 47.2M-61.8% | 124M-34.0% | 187M-3.7% | 194M+56.3% | 124M+89.9% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.59B+10.9% | 3.23B-39.6% | 5.35B-8.6% | 5.85B-11.3% | 6.60B+11.8% | |
| P/E | — | 29.2×+224.3% | 9.0×-48.0% | 17.3×+29.5% | 13.4×-71.8% | |
| P/S | 0.5×+11.3% | 0.5×-23.8% | 0.6×-17.4% | 0.7×-19.3% | 0.9×-5.6% | |
| P/B | 4.3×+72.7% | 2.5×-37.6% | 4.0×-30.2% | 5.8×+6.8% | 5.4×+4.5% | |
| P/FCF | 6.4×-98.7% | 497.3×+3117.8% | 15.5× | — | 605.5×+8250.6% | |
| Earnings yield | — | 3.4%-69.2% | 11.1%+92.3% | 5.8%-22.8% | 7.5%+254.1% | |
| FCF yield | 15.6%+7640.4% | 0.20%-96.9% | 6.5% | — | 0.17%-98.8% | |
| Dividend yield | 4.2%-7.5% | 4.6%+67.0% | 2.7%+8.2% | 2.5%+10.5% | 2.3%-11.9% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: PII’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PII filings on SEC EDGAR → Not investment advice.