PII Chart
About

Polaris Inc. designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off Road, On Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters; quadricycles; and pontoon and deck boats. It also provides source parts, garments, and accessories, such as helmets, jackets, gloves, pants, and hats; and snowmobile accessories comprising covers, traction products, reverse kits, electric starters, tracks, pull-behinds, bags, and windshields, as well as gear and apparel for its snowmobiles consisting of helmets, jackets, goggles, gloves, boots, bibs, pants, and hats. In addition, the company offers ORV accessories, including winches, bumper/brushguards, plows, racks, wheels and tires, cab systems, lighting and audio systems, cargo box accessories, and tracks, as well as replacement parts and lubricants. Further, it provides motorcycle accessories, such as performance enhancements, saddle bags, handlebars, backrests, exhausts, windshields, seats, and various chrome accessories, as well as light duty hauling and passenger vehicles. The company sells its products through dealers and distributors, as well as online. The company was formerly known as Polaris Industries Inc. Polaris Inc. was founded in 1945 and is headquartered in Medina, Minnesota.

Fundamentals
Scroll to Statements
Sector Consumer Cyclical Industry Recreational Vehicles Market Cap 2.98B
Enterprise Value 4.52B Income -465.50M Sales 7.24B
Book/sh 14.66 Cash/sh 2.43 Dividend Yield 5.16%
Payout 3.73% Employees 14500 IPO —
P/E — Forward P/E 17.03 PEG —
P/S 0.41 P/B 3.58 P/C —
EV/EBITDA 14.09 EV/Sales 0.62 Quick Ratio 0.17
Current Ratio 0.98 Debt/Eq 199.87 LT Debt/Eq —
EPS (ttm) -8.18 EPS next Y 3.09 EPS Growth —
Revenue Growth 9.00% Earnings 2026-04-27 ROA 0.41%
ROE -43.70% ROIC — Gross Margin 20.08%
Oper. Margin -1.65% Profit Margin -6.43% Shs Outstand 56.69M
Shs Float 53.39M Short Float 14.96% Short Ratio 6.27
Short Interest — 52W High 75.25 52W Low 30.92
Beta 1.17 Avg Volume 933.35K Volume 96.75K
Target Price $67.85 Recom Hold Prev Close $52.73
Price $52.54 Change -0.36%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$67.85
Mean price target
2. Current target
$52.54
Latest analyst target
3. DCF / Fair value
$232.61
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$52.54
Low
$41.00
High
$80.00
Mean
$67.85

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-28 main RBC Capital Sector Perform → Sector Perform $65
2026-01-16 main Morgan Stanley Equal-Weight → Equal-Weight $81
2026-01-08 init Seaport Global — → Buy $83
2025-11-14 init Loop Capital — → Hold $59
2025-11-03 main Roth Capital Neutral → Neutral $57
2025-10-30 main Citigroup Neutral → Neutral $71
2025-10-29 main RBC Capital Sector Perform → Sector Perform $67
2025-10-14 main Roth Capital Neutral → Neutral $54
2025-10-06 main Baird Neutral → Neutral $60
2025-10-01 up Citigroup Sell → Neutral $60
2025-09-08 main UBS Neutral → Neutral $58
2025-07-30 main BMO Capital Market Perform → Market Perform $52
2025-07-30 main RBC Capital Sector Perform → Sector Perform $56
2025-07-30 main Baird Neutral → Neutral $55
2025-07-23 main Roth Capital Neutral → Neutral $41
2025-07-03 main Baird Neutral → Neutral $46
2025-06-16 main Citigroup Sell → Sell $27
2025-05-22 main Baird Neutral → Neutral $38
2025-05-01 main Morgan Stanley Equal-Weight → Equal-Weight $29
2025-04-30 main RBC Capital Sector Perform → Sector Perform $34
Insider Transactions
Date Shares Url Text Insider Position Transaction Start Date Ownership Value
0 23 — — MACK ROBERT PAUL Chief Financial Officer — 2026-03-02 00:00:00 D nan
1 7786 — Sale at price 66.57 - 67.08 per share. MACK ROBERT PAUL Chief Financial Officer — 2026-02-12 00:00:00 D 520335.0
2 35086 — Sale at price 66.54 - 66.98 per share. SPEETZEN MICHAEL T Chief Executive Officer — 2026-02-11 00:00:00 D 2344696.0
3 10090 — Sale at price 66.80 - 67.40 per share. DUKE BENJAMIN D Officer — 2026-02-11 00:00:00 D 674190.0
4 5243 — Sale at price 67.17 per share. WILLIAMS JAMES P. Officer — 2026-02-03 00:00:00 D 352172.0
5 9240 — Stock Award(Grant) at price 64.94 per share. DUKE BENJAMIN D Officer — 2026-01-28 00:00:00 D 600046.0
6 9240 — Stock Award(Grant) at price 64.94 per share. WININGS MATTHEW S General Counsel — 2026-01-28 00:00:00 D 600046.0
7 19249 — Stock Award(Grant) at price 64.94 per share. MACK ROBERT PAUL Chief Financial Officer — 2026-01-28 00:00:00 D 1250030.0
8 65446 — Stock Award(Grant) at price 64.94 per share. SPEETZEN MICHAEL T Chief Executive Officer — 2026-01-28 00:00:00 D 4250063.0
9 10010 — Stock Award(Grant) at price 64.94 per share. WILLIAMS JAMES P. Officer — 2026-01-28 00:00:00 D 650049.0
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-48.82M0.000.000.00
TaxRateForCalcs0.130.210.190.21
NormalizedEBITDA268.20M564.10M1.00B1.07B
TotalUnusualItems-383.00M0.000.000.00
TotalUnusualItemsExcludingGoodwill-383.00M0.000.000.00
NetIncomeFromContinuingOperationNetMinorityInterest-465.50M110.80M502.80M602.90M
ReconciledDepreciation286.50M286.30M258.90M232.80M
ReconciledCostOfRevenue5.78B5.71B6.97B6.63B
EBITDA-114.80M564.10M1.00B1.07B
EBIT-401.30M277.80M745.40M833.10M
NetInterestIncome-131.40M-137.00M-125.00M-71.70M
InterestExpense131.40M137.00M125.00M71.70M
NormalizedIncome-131.32M110.80M502.80M602.90M
NetIncomeFromContinuingAndDiscontinuedOperation-465.50M110.80M502.80M447.10M
TotalExpenses7.12B6.88B8.23B7.78B
TotalOperatingIncomeAsReported-348.70M290.60M700.90M804.50M
DilutedAverageShares56.90M56.80M57.70M60.10M
BasicAverageShares56.90M56.50M57.10M59.30M
DilutedEPS-8.181.958.717.44
BasicEPS-8.181.968.807.54
DilutedNIAvailtoComStockholders-465.50M110.80M502.80M447.10M
NetIncomeCommonStockholders-465.50M110.80M502.80M447.10M
NetIncome-465.50M110.80M502.80M447.10M
MinorityInterests-700.00K-400.00K100.00K-500.00K
NetIncomeIncludingNoncontrollingInterests-464.80M111.20M502.70M447.60M
NetIncomeDiscontinuousOperations0.000.00-155.80M-2.30M
NetIncomeContinuousOperations-464.80M111.20M502.70M603.40M
TaxProvision-67.90M29.60M117.70M158.00M
PretaxIncome-532.70M140.80M620.40M761.40M
OtherIncomeExpense-435.60M-12.80M44.50M28.60M
OtherNonOperatingIncomeExpenses-52.60M-12.80M44.50M28.60M
SpecialIncomeCharges-383.00M0.000.000.00
GainOnSaleOfBusiness-330.40M0.000.000.00
ImpairmentOfCapitalAssets52.60M0.000.000.00
EarningsFromEquityInterest0.00
NetNonOperatingInterestIncomeExpense-131.40M-137.00M-125.00M-71.70M
InterestExpenseNonOperating131.40M137.00M125.00M71.70M
OperatingIncome34.30M290.60M700.90M804.50M
OperatingExpense1.33B1.18B1.26B1.16B
OtherOperatingExpenses-84.30M-97.60M-80.40M-48.40M
ResearchAndDevelopment371.90M336.90M374.30M366.70M
SellingGeneralAndAdministration1.05B936.90M965.10M836.70M
SellingAndMarketingExpense505.00M500.40M542.30M480.80M
GeneralAndAdministrativeExpense541.80M436.50M422.80M355.90M
OtherGandA541.80M436.50M422.80M355.90M
GrossProfit1.37B1.47B1.96B1.96B
CostOfRevenue5.78B5.71B6.97B6.63B
TotalRevenue7.15B7.18B8.93B8.59B
OperatingRevenue7.15B7.18B8.93B8.59B
Line Item2025-12-312024-12-312023-12-312022-12-31
OrdinarySharesNumber56.50M56.10M56.47M57.00M
ShareIssued56.50M56.10M56.47M57.00M
NetDebt1.40B1.78B1.54B1.73B
TotalDebt1.66B2.20B2.05B2.17B
TangibleBookValue28.40M353.70M512.00M188.40M
InvestedCapital2.37B3.36B3.33B3.16B
WorkingCapital-36.70M339.20M757.90M439.00M
NetTangibleAssets28.40M353.70M512.00M188.40M
CapitalLeaseObligations125.20M128.50M144.60M111.10M
CommonStockEquity828.40M1.29B1.42B1.10B
TotalCapitalization2.33B2.93B3.27B2.60B
TotalEquityGrossMinorityInterest832.90M1.29B1.42B1.10B
MinorityInterest4.50M4.20M2.40M2.50M
StockholdersEquity828.40M1.29B1.42B1.10B
GainsLossesNotAffectingRetainedEarnings-32.10M-125.50M-57.50M-87.50M
OtherEquityAdjustments-32.10M-125.50M-57.50M-87.50M
RetainedEarnings-469.00M148.90M243.50M33.80M
AdditionalPaidInCapital1.33B1.27B1.23B1.15B
CapitalStock600.00K600.00K600.00K600.00K
CommonStock600.00K600.00K600.00K600.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest4.06B4.23B4.10B4.12B
TotalNonCurrentLiabilitiesNetMinorityInterest1.82B1.94B2.16B1.79B
OtherNonCurrentLiabilities181.80M175.10M167.10M167.70M
LiabilitiesHeldforSaleNonCurrent0.0066.10M
TradeandOtherPayablesNonCurrent19.90M12.50M12.10M11.70M
NonCurrentDeferredLiabilities14.00M12.50M13.00M17.20M
NonCurrentDeferredTaxesLiabilities7.30M6.10M2.70M4.60M
LongTermDebtAndCapitalLeaseObligation1.60B1.74B1.97B1.59B
LongTermCapitalLeaseObligation97.10M99.70M115.10M87.00M
LongTermDebt1.50B1.64B1.85B1.50B
CurrentLiabilities2.24B2.29B1.93B2.33B
OtherCurrentLiabilities50.50M107.80M
CurrentDebtAndCapitalLeaseObligation62.90M463.10M83.50M577.70M
CurrentCapitalLeaseObligation28.10M28.80M29.50M24.10M
CurrentDebt34.80M434.30M54.00M553.60M
OtherCurrentBorrowings34.80M434.30M54.00M553.60M
PensionandOtherPostRetirementBenefitPlansCurrent266.10M145.90M212.70M212.30M
CurrentProvisions135.10M
PayablesAndAccruedExpenses1.86B1.68B1.64B1.54B
CurrentAccruedExpenses1.09B1.11B910.90M684.50M
Payables774.90M570.40M726.70M854.10M
TotalTaxPayable12.40M7.60M13.60M6.50M
IncomeTaxPayable12.40M7.60M13.60M6.50M
AccountsPayable762.50M562.80M713.10M847.60M
TotalAssets4.89B5.53B5.52B5.22B
TotalNonCurrentAssets2.69B2.89B2.82B2.45B
OtherNonCurrentAssets78.50M121.40M135.80M106.70M
NonCurrentDeferredAssets525.50M384.60M295.90M210.50M
NonCurrentDeferredTaxesAssets525.50M384.60M295.90M210.50M
InvestmentsAndAdvances131.50M136.70M141.10M93.10M
LongTermEquityInvestment131.50M136.70M141.10M93.10M
InvestmentsinJointVenturesatCost131.50M136.70M141.10M93.10M
InvestmentsinAssociatesatCost93.10M49.30M
GoodwillAndOtherIntangibleAssets800.00M936.20M906.40M910.60M
OtherIntangibleAssets451.20M542.70M512.00M524.40M
Goodwill348.80M393.50M394.40M386.20M
NetPPE1.15B1.31B1.35B1.13B
AccumulatedDepreciation-1.29B-1.28B-1.18B-1.17B
GrossPPE2.45B2.60B2.53B2.30B
OtherProperties1.78B1.91B1.88B1.76B
Properties665.80M691.20M653.40M539.10M
CurrentAssets2.21B2.63B2.69B2.77B
OtherCurrentAssets366.90M395.70M198.00M183.70M
AssetsHeldForSaleCurrent49.80M0.000.00163.20M
PrepaidAssets160.50M
Inventory1.41B1.74B1.81B1.90B
InventoriesAdjustmentsAllowances-95.60M-109.60M-95.10M-86.70M
FinishedGoods615.40M943.20M779.40M768.20M
RawMaterials892.60M907.90M1.13B1.21B
Receivables239.50M207.40M315.40M363.30M
TaxesReceivable2.00M15.10M9.00M20.30M
AccountsReceivable237.50M192.30M306.40M343.00M
AllowanceForDoubtfulAccountsReceivable-12.50M-10.70M-9.00M-8.70M
GrossAccountsReceivable250.00M203.00M315.40M351.70M
CashCashEquivalentsAndShortTermInvestments138.00M287.80M367.80M324.50M
CashAndCashEquivalents138.00M287.80M367.80M324.50M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow558.10M-56.20M513.20M202.00M
RepurchaseOfCapitalStock-2.40M-82.70M-178.60M-505.00M
RepaymentOfDebt-3.69B-3.53B-2.93B-2.73B
IssuanceOfDebt3.14B3.69B2.77B2.99B
CapitalExpenditure-182.90M-324.40M-412.60M-306.60M
InterestPaidSupplementalData125.50M141.50M120.60M71.20M
IncomeTaxPaidSupplementalData47.20M123.60M187.20M194.40M
EndCashPosition236.30M303.00M382.90M339.70M
BeginningCashPosition303.00M382.90M339.70M529.10M
EffectOfExchangeRateChanges24.80M-18.00M10.70M-10.20M
ChangesInCash-91.50M-61.90M32.50M-179.20M
FinancingCashFlow-693.00M-59.20M-431.30M-363.20M
CashFlowFromContinuingFinancingActivities-693.00M-59.20M-431.30M-363.20M
NetOtherFinancingCharges-400.00K-600.00K
ProceedsFromStockOptionExercised3.70M6.00M52.80M34.10M
CashDividendsPaid-150.30M-147.70M-147.30M-150.00M
CommonStockDividendPaid-150.30M-147.70M-147.30M-150.00M
NetCommonStockIssuance-2.40M-82.70M-178.60M-505.00M
CommonStockPayments-2.40M-82.70M-178.60M-505.00M
NetIssuancePaymentsOfDebt-543.60M165.80M-158.20M257.70M
NetLongTermDebtIssuance-543.60M165.80M-158.20M257.70M
LongTermDebtPayments-3.69B-3.53B-2.93B-2.73B
LongTermDebtIssuance3.14B3.69B2.77B2.99B
InvestingCashFlow-139.50M-270.90M-462.00M-324.60M
CashFromDiscontinuedInvestingActivities0.000.00-5.30M-15.50M
CashFlowFromContinuingInvestingActivities-139.50M-270.90M-462.00M-319.30M
DividendsReceivedCFI61.50M68.20M37.00M30.60M
NetBusinessPurchaseAndSale-18.10M-14.70M-86.40M-43.30M
SaleOfBusiness42.20M0.00
PurchaseOfBusiness-18.10M-14.70M-63.70M-85.50M
NetIntangiblesPurchaseAndSale0.00-62.70M0.000.00
PurchaseOfIntangibles0.00-62.70M0.000.00
NetPPEPurchaseAndSale-182.90M-261.70M-412.60M-306.60M
PurchaseOfPPE-182.90M-261.70M-412.60M-306.60M
OperatingCashFlow741.00M268.20M925.80M508.60M
CashFromDiscontinuedOperatingActivities0.000.00-25.90M6.90M
CashFlowFromContinuingOperatingActivities741.00M268.20M925.80M534.50M
ChangeInWorkingCapital552.40M-67.60M235.90M-300.10M
ChangeInOtherWorkingCapital24.30M-11.00M18.60M18.40M
ChangeInPayablesAndAccruedExpense334.10M17.00M73.30M202.80M
ChangeInAccruedExpense137.40M158.80M217.10M131.10M
ChangeInPayable196.70M-141.80M-143.80M71.70M
ChangeInAccountPayable196.70M-141.80M-143.80M71.70M
ChangeInPrepaidAssets44.50M-216.50M-20.10M-7.60M
ChangeInInventory183.60M39.50M115.10M-391.10M
ChangeInReceivables-34.10M103.40M49.00M-122.60M
ChangesInAccountReceivables-34.10M103.40M49.00M-122.60M
OtherNonCashItems-36.90M-53.70M-42.30M-15.60M
StockBasedCompensation59.90M49.20M57.40M62.90M
AssetImpairmentCharge155.90M29.50M0.000.00
DeferredTax-139.10M-86.70M-86.80M-48.90M
DeferredIncomeTax-139.10M-86.70M-86.80M-48.90M
DepreciationAmortizationDepletion286.50M286.30M258.90M232.80M
DepreciationAndAmortization286.50M286.30M258.90M232.80M
AmortizationCashFlow23.00M21.90M17.70M18.80M
AmortizationOfIntangibles23.00M21.90M17.70M18.80M
Depreciation263.50M264.40M241.20M214.00M
OperatingGainsLosses327.10M34.80M
GainLossOnSaleOfBusiness327.10M0.000.000.00
NetIncomeFromContinuingOperations-464.80M111.20M502.70M603.40M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for PII
Date User Asset Broker Type Position Size Entry Price Patterns