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Polaris
(NYSE:PII)
Polaris (PII) vs. SPDR S&P 500 ETF (SPY)
Polaris Business Overview & Revenue Model
Polaris Earnings Call Summary
Polaris Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.99B | 7.18B | 8.93B | 8.59B | 8.20B | 7.03B |
| Gross Profit | 1.34B | 1.47B | 1.96B | 1.96B | 1.94B | 1.71B |
| EBITDA | 196.70M | 290.60M | 1.01B | 1.07B | 881.20M | 462.70M |
| Net Income | -151.30M | 110.80M | 502.80M | 447.10M | 493.90M | 124.80M |
Balance Sheet | ||||||
| Total Assets | 5.31B | 5.53B | 5.52B | 5.22B | 5.05B | 4.63B |
| Cash, Cash Equivalents and Short-Term Investments | 335.50M | 287.80M | 367.80M | 324.50M | 502.30M | 634.70M |
| Total Debt | 1.30B | 2.20B | 2.05B | 2.17B | 1.89B | 1.58B |
| Total Liabilities | 4.14B | 4.23B | 4.10B | 4.12B | 3.82B | 3.49B |
| Stockholders Equity | 1.15B | 1.29B | 1.42B | 1.10B | 1.22B | 1.14B |
Cash Flow | ||||||
| Free Cash Flow | 581.40M | 6.50M | 513.20M | 202.00M | -4.60M | 804.70M |
| Operating Cash Flow | 768.60M | 268.20M | 925.80M | 508.60M | 293.70M | 1.02B |
| Investing Cash Flow | -129.50M | -270.90M | -462.00M | -324.60M | -303.90M | -150.70M |
| Financing Cash Flow | -601.20M | -59.20M | -431.30M | -363.20M | -107.60M | -415.40M |
Polaris Technical Analysis
Polaris Risk Analysis
Polaris Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $5.76B | 22.61 | 6.19% | 1.85% | -4.62% | -2.29% | |
| ― | $2.23B | 15.34 | 10.95% | 4.94% | 1.36% | 25.97% | |
| ― | $3.33B | 14.17 | 7.19% | 2.60% | -24.81% | -60.65% | |
| ― | $1.15B | 44.71 | 2.06% | 3.37% | -5.90% | 119.79% | |
| ― | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
| ― | $3.79B | -25.38 | -12.14% | 3.96% | -9.39% | -173.86% | |
| ― | $4.61B | ― | -12.31% | 2.63% | -4.78% | -189.89% |
Polaris Corporate Events
Polaris Industries, a global leader in the powersports sector, specializes in manufacturing off-road vehicles, motorcycles, and boats, with a strong emphasis on innovation and outdoor experiences. In its third quarter of 2025, Polaris reported a seven percent increase in sales, reaching $1.842 billion, despite a reported net loss of $15.8 million. The company saw significant market share gains in off-road vehicles and motorcycles, with retail sales up nine percent compared to the previous year. Operating cash flow for the year-to-date was $562 million, and the company reintroduced its full-year guidance for adjusted sales and earnings.
Polaris Industries’ latest earnings call revealed a generally positive sentiment, driven by significant sales growth and strategic moves aimed at enhancing profitability. The company reported notable market share gains and a major strategic decision to sell a majority stake in Indian Motorcycle, which is expected to focus efforts on high-margin growth areas. Despite these positive developments, challenges such as tariff impacts and segment-specific declines persist, particularly in the Youth segment.
Polaris Industries is currently conducting a clinical study titled ‘A Phase 2A, Randomized, Double-Blind, Placebo-Controlled, Multi-Center Trial of ADI-PEG 20 or Placebo in Subjects With Nonalcoholic Steatohepatitis (NASH)’. The study aims to evaluate the efficacy and safety of the drug ADI-PEG 20 in treating patients with NASH, a significant liver condition. This research is crucial as it could lead to new therapeutic options for NASH, a disease with limited treatment choices.
Study Overview: Polaris Group is conducting a Phase 3 clinical trial titled ADI-PEG 20 or Placebo Plus Gemcitabine and Docetaxel in Previously Treated Subjects With Leiomyosarcoma (ARGSARC). The study aims to evaluate the efficacy and safety of ADI-PEG 20 combined with Gemcitabine and Docetaxel in patients with advanced or metastatic leiomyosarcoma (LMS) who have previously been treated with an anthracycline. This trial is significant as it explores new treatment avenues for LMS, a challenging soft tissue sarcoma.
Study Overview: Polaris Industries is conducting a study titled A Randomized, Double-Blind, Multi-Center Study of ADI-PEG 20 Versus Placebo in Subjects with High Arginine Level and Unresectable Hepatocellular Carcinoma. The study aims to evaluate the efficacy and safety of ADI-PEG 20 in patients with high arginine levels and hepatocellular carcinoma (HCC), a significant concern in liver cancer treatment.
On October 10, 2025, Polaris announced its decision to separate Indian Motorcycle into a standalone business by selling a majority stake to Carolwood LP. This strategic move is expected to enhance Polaris’ focus on high-growth areas and improve its financial performance, with anticipated benefits to its adjusted EBITDA and earnings per share. The transaction, expected to close in the first quarter of 2026, will see Indian Motorcycle continue its operations independently, retaining its workforce and facilities. Mike Dougherty, President of Polaris’ On Road and International business, will retire following the transaction’s completion. The deal is positioned to benefit both Polaris and Indian Motorcycle by allowing each to concentrate on their respective strengths and market opportunities.
The most recent analyst rating on (PII) stock is a Hold with a $54.00 price target. To see the full list of analyst forecasts on Polaris stock, see the PII Stock Forecast page.
Polaris Industries’ recent earnings call painted a mixed picture of the company’s current standing and future outlook. While the company demonstrated strong operational improvements and effective tariff mitigation strategies, gaining market share across segments, it faced challenges with declining sales and revenue, pressured margins, and ongoing tariff impacts. The decision not to provide full-year guidance due to uncertainty further underscores the challenges ahead.
Polaris Industries, a global leader in powersports, offers a diverse range of off-road vehicles, motorcycles, and marine products, with a focus on innovation and outdoor experiences. In its second quarter of 2025, Polaris reported a 6% decline in sales to $1,853 million compared to the previous year, while adjusted diluted net income per share was $0.40. The company experienced a net loss of $79 million, attributed to lower volumes, negative product mix, and increased promotional spending. Despite these challenges, Polaris achieved market share gains in off-road vehicles, motorcycles, and marine segments, and reported its highest operating cash flow in over five years. Looking ahead, Polaris remains focused on its strategic initiatives and expects to strengthen its position in the market, although it continues to withhold full-year guidance due to economic uncertainties.