Want to see PSNYW full AI Analyst Report?
Top Page
Polestar Automotive Holding UK PLC Sponsored ADR Class C
(NASDAQ:PSNYW)
Select Model
Select Model
Rating:42Neutral
Price Target:
$2.50
▼(-39.02% Downside)
Action:Reiterated
Date:06/09/26
The score is driven primarily by very weak financial performance—large ongoing losses, negative gross margins, persistent cash burn, and a stressed balance sheet with negative equity and elevated debt. Technicals add pressure with a clear downtrend and weak momentum, while valuation signals are not supportive due to negative earnings and no dividend data.
Positive Factors
Revenue Scaling
Sustained revenue growth to ~$3.1bn in 2025 demonstrates rising customer demand and successful market penetration. Persistent top-line scaling supports operational leverage and provides a clearer runway to absorb fixed costs, enabling potential margin improvement as volumes and model mix mature.
Negative Factors
Deep Negative Margins
Deep negative gross margins imply adverse unit economics and that current pricing, costs, or product mix cannot cover direct manufacturing costs. Unless unit economics improve materially, sustained losses will erode liquidity and require ongoing capital support, constraining self-sustaining profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling
Sustained revenue growth to ~$3.1bn in 2025 demonstrates rising customer demand and successful market penetration. Persistent top-line scaling supports operational leverage and provides a clearer runway to absorb fixed costs, enabling potential margin improvement as volumes and model mix mature.
Read all positive factors
Polestar Automotive Holding UK PLC Sponsored ADR Class C (PSNYW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.76B
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)―
Beta (1Y)-0.66
Revenue Growth50.33%
EPS GrowthN/A
CountryUS
Employees1,686
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-32.10
Shares Outstanding683,332
10 Day Avg. Volume4,844,664
30 Day Avg. Volume1,871,395
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)-0.39
Price to Sales (P/S)0.65
P/FCF Ratio-1.44
Enterprise Value/Market Cap2.46
Enterprise Value/Revenue2.66
Enterprise Value/Gross Profit-8.18
Enterprise Value/Ebitda-16.24
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Polestar Automotive Holding UK PLC Sponsored ADR Class C Business Overview & Revenue Model
Company Description
Polestar Automotive Holding UK PLC, established in 2017, is headquartered in Gothenburg, Sweden, and specializes in the creation and distribution of high-end electric automobiles....
How the Company Makes Money
Polestar primarily makes money by selling Polestar-branded vehicles to customers and, depending on market structure, through wholesale/agency-style arrangements with sales partners or retailers where applicable. Revenue is recognized from vehicle ...
Polestar Automotive Holding UK PLC Sponsored ADR Class C Earnings Call Summary
Earnings Call Date:Apr 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Neutral
The call conveyed a balanced picture: operational and commercial progress (record deliveries, 50% revenue growth, improved adjusted margins, network expansion, technology and model pipeline, and successful equity raises) are meaningful positives. However, large impairment charges (≈USD 1.1 billion), continued GAAP losses, sizable adjusted EBITDA deficits, pricing pressure, and regional headwinds—notably in the U.S.—are significant negatives. Management expects further improvements in adjusted profitability, cash burn and capital structure in 2026 but material risks remain.Positive Updates
Record Retail Sales and Volume Growth
Delivered over 60,100 cars in FY2025, representing 34% year‑on‑year growth and in line with guidance of 30%–35%; Q4 retail sales exceeded ~15,600 cars (+27% YoY); Q1 2026 retail sales ~13,100 cars (+7% YoY), a record first quarter.
Negative Updates
Large Impairment Charges and Negative GAAP Margins
Recorded impairment expenses of approximately USD 1.1 billion (Polestar 2, Polestar 3 and internal development projects including Polestar 5) contributing to a GAAP gross margin of negative 35% for FY2025 and negative ~38% in Q4 2025.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Retail Sales and Volume Growth
Delivered over 60,100 cars in FY2025, representing 34% year‑on‑year growth and in line with guidance of 30%–35%; Q4 retail sales exceeded ~15,600 cars (+27% YoY); Q1 2026 retail sales ~13,100 cars (+7% YoY), a record first quarter.
Read all positive updates
Company Guidance
The company reiterated guidance for 2026 of low double‑digit retail sales growth (with progress through the year in line with seasonality), supported by a planned sales‑point expansion to ~250 retailers by year‑end (≈20% growth vs. 210 at end‑2025), continued shift toward the Polestar 4 group (which represented ~65% of Q1 sales and ~66% of Q4 mix, with 84% of Polestar 4 sold in Europe), and the roll‑out of new models (Polestar 5 deliveries expected in summer, a new Polestar 4 variant with first deliveries in Q4 and production in Busan, next‑gen Polestar 2 and compact Polestar 7 over the next 3 years); financial assumptions include a similar 3‑digit million level of carbon‑credit revenue in 2026 (2025 carbon‑credit sales $211M, $192M booked in revenue), an improving cash burn versus 2025 (2025 average cash burn ~ $120M/month‑equivalent and adjusted EBITDA loss improvement of ~$300M to negative $783M), and a strengthened liquidity profile after raising $1.2B of equity (June 2025–Mar 2026), securing ~$1.6B of new 12‑month facilities and renewing ~$3B, maintaining cash of ~$1.2B at 31‑Dec‑2025 and progressing ~$639M of shareholder‑loan conversions to equity (Volvo to remain at ~19.9%).Polestar Automotive Holding UK PLC Sponsored ADR Class C Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.55B | 3.06B | 2.03B | 2.38B | 2.44B | 1.34B |
| Gross Profit | -828.47M | -1.08B | -876.17M | -413.08M | 119.44M | 11.06M |
| EBITDA | -417.20M | -1.93B | -1.67B | -826.89M | -229.51M | -716.10M |
| Net Income | -2.27B | -2.36B | -2.05B | -1.19B | -479.02M | -1.01B |
Balance Sheet | ||||||
| Total Assets | 3.64B | 3.93B | 4.05B | 4.12B | 3.94B | 3.31B |
| Cash, Cash Equivalents and Short-Term Investments | 718.63M | 1.18B | 739.24M | 768.93M | 973.88M | 757.93M |
| Total Debt | 5.65B | 6.49B | 5.01B | 3.58B | 1.44B | 825.41M |
| Total Liabilities | 7.91B | 9.05B | 7.38B | 5.38B | 4.08B | 3.19B |
| Stockholders Equity | -4.27B | -5.12B | -3.33B | -1.26B | -133.34M | 122.50M |
Cash Flow | ||||||
| Free Cash Flow | -1.47B | -1.37B | -1.35B | -2.03B | -1.80B | -441.83M |
| Operating Cash Flow | -1.32B | -914.99M | -991.21M | -1.89B | -1.09B | -312.16M |
| Investing Cash Flow | -379.15M | -520.68M | -412.56M | -417.62M | -715.97M | -129.67M |
| Financing Cash Flow | 1.67B | 1.69B | 1.42B | 2.10B | 2.09B | 909.57M |
Polestar Automotive Holding UK PLC Sponsored ADR Class C Technical Analysis
Negative
4.10
Price Trends
2.88
Negative
3.38
Negative
4.71
Negative
Market Momentum
-0.19
Positive
42.99
Neutral
37.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSNYW, the sentiment is Negative. The current price of 4.1 is above the 20-day moving average (MA) of 2.55, above the 50-day MA of 2.88, and below the 200-day MA of 4.71, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 42.99 is Neutral, neither overbought nor oversold. The STOCH value of 37.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PSNYW.
Polestar Automotive Holding UK PLC Sponsored ADR Class C Risk Analysis
Polestar Automotive Holding UK PLC Sponsored ADR Class C disclosed 73 risk factors in its most recent earnings report. Polestar Automotive Holding UK PLC Sponsored ADR Class C reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Polestar Automotive Holding UK PLC Sponsored ADR Class C Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $22.68B | -6.21 | -69.98% | ― | 10.43% | 21.58% | |
50 Neutral | $12.48B | -45.68 | -2.49% | ― | -23.38% | -123.25% | |
49 Neutral | $12.73B | -37.66 | -7.56% | ― | 49.73% | 54.60% | |
47 Neutral | $12.52B | -8.17 | -328.93% | ― | 51.42% | 66.12% | |
46 Neutral | $2.27B | -0.46 | -193.02% | ― | 61.03% | -5.36% | |
42 Neutral | $2.76B | -0.86 | 54.91% | ― | 50.33% | ― |
* Consumer Cyclical Sector Average
PSNYW
Polestar Automotive Holding UK PLC Sponsored ADR Class C
2.22
-2.88
-56.47%
NIO
Nio
4.78
1.09
29.54%
LI
Li Auto
11.91
-15.29
-56.21%
XPEV
XPeng, Inc. ADR
12.98
-4.45
-25.53%
LCID
Lucid Group
5.83
-17.47
-74.98%
RIVN
Rivian Automotive
18.12
4.80
36.04%
Polestar Automotive Holding UK PLC Sponsored ADR Class C Corporate Events
Polestar Posts Record H1 2026 Retail Sales as New Models and Retail Expansion Offset Headwinds
Jul 9, 2026
On July 9, 2026, Polestar reported that its retail sales reached an estimated record 30,423 cars in the first half of 2026, with 17,296 cars sold in the second quarter, representing marginal overall growth year-on-year but a 4% decline in quarterl...
Polestar Converts $640 Million of Shareholder Debt to Equity and Expands Green Trade Finance Line
Jul 1, 2026
On June 30, 2026, Polestar completed debt-to-equity conversions of approximately USD 300 million owed to Geely Sweden Automotive Investment and USD 66 million owed to Volvo’s subsidiary Snita, issuing a total of 19.4 million Class A ADS and ...
Polestar Shareholders Back All AGM Resolutions and Appoint New Auditor
Jun 26, 2026
On June 26, 2026, Polestar Automotive Holding UK PLC held its 2026 annual general meeting of shareholders, at which a quorum representing 2,686,453,200 votes was present. Shareholders approved the 2025 annual report and audited financial statement...
Polestar Refocuses on Europe After U.S. Connected Vehicle Rule Blocks 2027 Sales
Jun 25, 2026
On June 25, 2026, Polestar announced it is sharpening its strategic focus on Europe, which already accounts for close to 80% of its retail sales, by expanding its regional sales network and preparing to localize manufacturing of future models such...
Polestar Extends Geely Term Loan to 2027 and Raises Margin
Jun 3, 2026
On June 3, 2026, Polestar Automotive Holding UK PLC amended its term facility agreement with affiliate Geely Sweden Automotive Investment AB, extending the loan’s termination date from December 2025 to June 30, 2027, and modestly increasing ...
Polestar Sets June 26 AGM as It Prepares Major EV Model Offensive
May 19, 2026
Polestar Automotive Holding UK PLC, a pure-play European electric vehicle maker, reported that in 2025 it increased retail sales volumes by 34% and expanded its dealer network by 50%, as it prepares a major product offensive with four new models o...
Polestar Posts Record Q1 2026 Volumes but Deeper Losses Amid Tariff and Pricing Pressure
May 7, 2026
On May 7, 2026, Polestar reported selected preliminary, unaudited results for the quarter ended March 31, 2026, highlighting record first-quarter retail volumes of 13,126 cars, up 7% year-on-year, and revenue essentially flat at USD 633 million. D...
Polestar Posts Record 2025 Sales and Revenue While Fortifying Balance Sheet and EV Lineup
Apr 17, 2026
Polestar reported that 2025 was a record year, with retail sales rising 34% to 60,119 cars and revenue jumping 50% to USD 3.06 billion, driven by an expanded sales network, an active retail model and a richer mix of higher-priced models. Despite a...
Polestar Posts Record Q1 2026 Retail Sales and Rapid Network Expansion
Apr 9, 2026
Polestar Automotive Holding UK PLC, the Swedish electric performance car maker listed on Nasdaq as PSNY, continues to position itself as a premium EV player with a strong sustainability agenda. Its line-up spans the Polestar 2, 3, 4 and 5, and the...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.