Polaris Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $7.2B | $7.2B | $8.9B | $8.6B | $7.4B |
| Cost of revenue | $5.8B | $5.7B | $7.0B | $6.6B | $5.7B |
| Gross profit | $1.4B | $1.5B | $2.0B | $2.0B | $1.8B |
| Research and development | $371.9M | $336.9M | $374.3M | $366.7M | $328.7M |
| Operating expenses | $1.8B | $1.3B | $1.3B | $1.2B | $1.1B |
| Operating income | -$348.7M | $290.6M | $700.9M | $804.5M | $712.0M |
| Interest expense | $131.4M | $137.0M | $125.0M | $71.7M | $44.2M |
| Pretax income | -$532.7M | $140.8M | $620.4M | $761.4M | $628.7M |
| Income tax expense | -$67.9M | $29.6M | $117.7M | $158.0M | $132.1M |
| Net income | -$465.5M | $110.8M | $502.8M | $447.1M | $493.9M |
| Balance Sheet | |||||
| Cash and equivalents | $138.0M | $287.8M | $367.8M | $324.5M | $502.3M |
| Current assets | $2.2B | $2.6B | $2.7B | $2.8B | $2.6B |
| Total assets | $4.9B | $5.5B | $5.5B | $5.2B | $5.0B |
| Current liabilities | $2.2B | $2.3B | $1.9B | $2.3B | $2.2B |
| Total liabilities | $4.1B | $4.2B | $4.1B | $4.1B | $3.8B |
| Total debt | $1.5B | $2.1B | $1.9B | $2.1B | $1.8B |
| Stockholders' equity | $828.4M | $1.3B | $1.4B | $1.1B | $1.2B |
| Cash Flow Statement | |||||
| Cash from operations | $741.0M | $268.2M | $925.8M | $508.6M | $293.7M |
| Depreciation and amortization | $286.5M | $286.3M | $258.9M | $232.8M | $216.4M |
| Stock-based compensation | $59.9M | $49.2M | $57.4M | $62.9M | $60.6M |
| Capital expenditure | $182.9M | $261.7M | $412.6M | $306.6M | $282.8M |
| Free cash flow | $558.1M | $6.5M | $513.2M | $202.0M | $10.9M |
| Dividends paid | $150.3M | $147.7M | $147.3M | $150.0M | $153.4M |
| Share repurchases | $2.4M | $82.7M | $178.6M | $505.0M | $461.6M |
| Impairments | $155.9M | $29.5M | $0 | $0 | $0 |
Shares outstanding 56.9M · Free float 94.2%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.