How Polaris makes money

Period

FY2025

How does Polaris make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Polaris Inc. · FY2025 · year ended 2025-12-31

Revenue$7.2BNet loss$466M · 7%Cost of revenue$5.8B · 81%Gross profit$1.4B · 19%Operating expenses$1.7B · 24%R&D$372M · 5%SG&A$542M · 8%Selling & marketing$505M · 7%Other opex$299M · 4%Other expense$117M · 2%Wholegoods$5.3B · 74%PGA$1.9B · 26%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.