MARKETS / NYSE / Industrials / Transportation equipment / PII

NYSE · MISCELLANEOUS TRANSPORTATION EQUIPMENT · LARGE CAP

Polaris Inc. PII

18 fiscal years on record · USD · FY2025 reported · SEC filings only

14 YEARS OF DIVIDEND GROWTH

Revenue

$7.2B

▼ 0.3% YoY

Net income

$-465.5M

▼ 520.1% YoY

Free cash flow

$558.1M

▲ 8486.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Polaris designs, engineers, manufactures and markets powersports vehicles, including off-road vehicles such as all-terrain vehicles and side-by-side vehicles, military and commercial off-road vehicles, snowmobiles, moto-roadsters, quadricycles, and boats. As of December 31, 2025, the company had approximately 14,500 full-time employees globally, with approximately 5,000 in salaried roles. Its products are sold through a network of approximately 2,400 independent dealers in North America, and internationally through 25 subsidiaries to over 1,500 independent international dealers and 70 independent distributors that serve over 90 countries outside of North America. It operates in three business segments: Off Road, On Road, and Marine. The Off Road segment primarily consists of ORVs and snowmobiles. The company currently designs and manufactures moto-roadsters, light duty hauling, and passenger vehicles within its On Road segment. Polaris Inc., formerly known as Polaris Industries Inc., a Delaware corporation, was formed in 1994 and is the successor to Polaris Industries Partners LP.

Written from the business description in Polaris Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth

USD 7.2B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 7.2 · Net income -0.5

4B8B

2008201120142017202020232025

Compound annual growth

Revenue

−5.9%

+2.6%

+4.2%

+8.9%

Dividend / share

+1.5%

+1.6%

+2.4%

Returned to shareholders

−38.5%

−5.5%

−9.9%

+4.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +2.6% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−6 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating -4.9% · Net -6.5%

5%10%15%-2%-4%-6%

200820162025

ROE

FY2025 · ROE -44.0%

50%-20%-40%

200820162025

Three returns, three denominators.

Return on equity-44.0%

Return on assets-8.9%

Return on capital employed-11.9%

Gross margin19.1%

Operating margin-4.9%

Net margin-6.5%

EBITDAUSD -62.2M

Each USD of equity lost 44 cents this year.

Cash & shareholders

USD 152.7M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 558.1

300M600M

200820162025

Net buybacks $M Dividends $M

FY2025 · Dividends 150.3 · Net buybacks 2.4

250.0M500.0MDividendsNet buybacks

2008201120142017202020232025

Dividends paidUSD 150.3M

Net buybacksUSD 2.4M

Share of profit-32.8%

Consecutive raises14 years (since the 2011 share-count change)

USD 150.3M in dividends and USD 2.4M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 4.9B

EquityUSD 828.4M

CashUSD 138.0M

Gross debtUSD 1.5B

Net debtUSD 1.4B

Current ratio0.98×

Net debt stands at 166% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data

PII, 18-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	7.2	7.2	8.9	8.6	7.4	6.3	6.8	6.1	5.4	4.5	4.7	4.5	3.8	3.2	2.7	2.0	1.6	1.9
Operating income $B	−0.3	0.3	0.7	0.8	0.7	0.5	0.5	0.5	0.4	0.4	0.7	0.7	0.6	0.5	0.3	0.2	0.2	0.2
EBITDA $B	−0.1	0.6	1.0	1.0	0.9	0.8	0.7	0.7	0.6	0.5	0.9	0.8	0.7	0.5	0.4	0.3	0.2	0.2
Income tax $B	−0.1	0.0	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1
Net income $B	−0.5	0.1	0.5	0.4	0.5	0.1	0.3	0.3	0.2	0.2	0.5	0.5	0.4	0.3	0.2	0.1	0.1	0.1
Free cash flow $B	0.6	0.0	0.5	0.2	0.0	0.8	0.4	0.3	0.4	0.4	0.2	0.3	0.2	0.3	0.2	0.2	0.1	0.1
EPS, diluted $	−8.18	1.95	8.71	7.44	7.88	1.99	5.20	5.24	2.69	3.27	6.75	6.65	5.35	4.40	3.20	2.14	1.53	3.50
Dividend / sh $	2.68	2.64	2.60	2.56	2.52	2.48	2.44	2.40	2.32	2.20	2.12	1.92	1.68	1.48	0.90	0.80	0.78	1.52
Payout %	−32	133	29	34	31	122	46	44	84	66	31	28	30	33	27	36	50	42
ROE %	−44.0	8.2	39.9	38.5	41.7	11.1	32.8	37.3	19.2	23.0	49.4	65.0	61.5	52.5	52.3	51.1	59.1	85.7
Shares out B	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.07	0.03	0.03	◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Four checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008. One check was skipped: revenue is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityMiscellaneous Transportation Equipment

Listed onNYSE

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2008

Polaris Inc. PII

What this company does

Growth↗ Share

Profitability↗ Share

Cash & shareholders↗ Share

The 18-year record

Other companies filing in the same sector

Company facts, as filed

Growth

Profitability

Cash & shareholders