Sunday 11 October 2026
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Polaris Inc.
PII Consumer Cyclical Recreational Vehicles
Polaris Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 9.18%, EPS grew 233.1%, free cash flow fell 33.5% and total debt rose 37.6%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years.
51.60
1.21
−2.29%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 29.40 | 10.71 | 13.21 | 13.67 | 47.88 | 19.26 | 14.28 | 45.91 | 25.03 |
Piotroski F-Score |
4 | 5 | 6 | 6 | 6 | 6 | 5 | 7 | 6 | 4 |
P/S ratio |
0.50 | 0.45 | 0.60 | 0.69 | 0.91 | 0.94 | 0.92 | 0.79 | 1.46 | 1.18 |
Altman Z-Score |
1.61 | 2.05 | 3.06 | 3.14 | 3.12 | 2.89 | 3.14 | 2.87 | 4.47 | 3.48 |
Altman Z″-Score (non-manufacturers) |
(0.63) | 1.17 | 2.26 | 1.89 | 1.81 | 1.70 | 1.44 | 1.63 | 1.75 | 1.97 |
P/FCF ratio |
6.45 | 500.85 | 10.50 | 29.50 | 618.12 | 7.24 | 15.47 | 19.04 | 19.81 | 13.96 |
Beneish M-Score |
(3.47) | (2.95) | (2.90) | (1.97) | (2.30) | (3.06) | (2.84) | (2.57) | (3.09) | (2.73) |
P/Operating CF |
20.14 | 15.78 | 9.80 | 15.09 | 48.02 | 17.20 | 28.51 | 38.98 | 89.94 | 32.51 |
Dividend Safety Score |
45 | — | — | — | — | — | — | — | — | — |
P/B ratio |
4.32 | 2.52 | 3.79 | 5.41 | 5.49 | 5.15 | 5.63 | 5.53 | 8.53 | 6.13 |
Price to Tangible BV |
109.39 | 9.10 | 10.47 | 31.22 | 23.14 | 96.53 | 0.00 | 0.00 | 52.57 | 71.72 |
EV/Sales |
0.77 | 0.72 | 0.83 | 0.90 | 1.08 | 1.07 | 1.15 | 1.08 | 1.60 | 1.40 |
EV/EBITDA |
0.00 | 8.94 | 7.74 | 7.42 | 8.66 | 8.01 | 10.83 | 9.44 | 15.75 | 12.22 |
EV/Operating CF |
7.45 | 19.24 | 8.02 | 15.13 | 27.36 | 6.59 | 11.88 | 13.82 | 14.82 | 10.73 |
EV/FCF |
9.89 | 793.76 | 14.47 | 38.08 | 737.24 | 8.24 | 19.27 | 26.19 | 21.63 | 16.63 |
Quick Ratio |
0.17 | 0.22 | 0.35 | 0.30 | 0.33 | 0.47 | 0.25 | 0.33 | 0.33 | 0.37 |
Current Ratio |
0.98 | 1.15 | 1.39 | 1.19 | 1.15 | 1.17 | 1.06 | 1.24 | 1.11 | 1.24 |
Net Debt/EBITDA |
(21.97) | 2.34 | 1.55 | 1.67 | 1.40 | 0.97 | 2.14 | 2.58 | 1.41 | 1.96 |
Debt/Assets |
30.75% | 29.65% | 33.62% | 39.44% | 35.67% | 31.31% | 38.22% | 47.59% | 29.56% | 36.85% |
Debt/Equity |
1.81 | 1.27 | 1.31 | 1.87 | 1.47 | 1.27 | 1.53 | 2.26 | 0.98 | 1.32 |
Asset Turnover |
1.37 | 1.30 | 1.66 | 1.67 | 1.54 | 1.39 | 1.59 | 1.69 | 1.75 | 1.65 |
Operating CF/Net income |
(1.59) | 2.42 | 1.84 | 1.14 | 0.59 | 8.16 | 2.02 | 1.42 | 3.39 | 2.77 |
Capex/Depreciation |
(0.64) | (0.91) | (1.59) | (1.32) | (1.31) | (0.64) | (1.07) | (1.07) | (0.96) | (1.25) |
Interest Coverage |
(2.65) | 2.12 | 5.61 | 11.22 | 16.11 | 7.80 | 6.23 | 8.55 | 11.19 | 21.46 |
| (43.77%) | 8.16% | 39.87% | 38.41% | 41.66% | 11.08% | 32.81% | 37.28% | 19.18% | 23.04% | |
| (8.94%) | 2.01% | 9.37% | 8.71% | 10.20% | 2.75% | 7.57% | 9.30% | 5.57% | 7.76% | |
ROIC |
(9.91%) | 6.87% | 15.07% | 17.74% | 17.63% | 16.61% | 11.43% | 11.41% | 13.17% | 11.63% |
Return on Tangible Assets |
(46.84%) | 7.26% | 25.66% | 30.68% | 39.30% | 10.34% | 32.44% | 29.63% | 19.82% | 22.21% |
Average Days of Receivables |
12.22 | 10.55 | 12.89 | 15.44 | 11.38 | 15.17 | 12.00 | 14.02 | 15.45 | 18.22 |
Research and Development Expense of Revenue |
5.20% | 4.70% | 4.19% | 4.27% | 4.42% | 4.59% | 4.32% | 4.27% | 4.39% | 4.10% |
Selling, General and Administrative Expense of Revenue |
14.64% | 13.06% | 10.80% | 9.74% | 10.27% | 11.56% | 14.05% | 13.84% | 14.79% | 14.36% |
Intangible Assets out of Total Assets |
0.16 | 0.17 | 0.16 | 0.17 | 0.19 | 0.23 | 0.34 | 0.37 | 0.25 | 0.26 |
Share Based Compensation of Revenue |
0.84% | 0.69% | 0.64% | 0.73% | 0.81% | 1.04% | 1.11% | 1.05% | 0.92% | 1.28% |
Graham Net Nets |
(0.52) | (0.49) | (0.26) | (0.23) | (0.19) | (0.22) | (0.27) | (0.37) | (0.11) | (0.20) |
Graham Number |
0.00 | 31.78 | 70.23 | 56.40 | 60.16 | 28.78 | 46.31 | 40.94 | 30.27 | 31.64 |
Earnings Yield |
(12.93%) | 3.40% | 9.34% | 7.57% | 7.32% | 2.09% | 5.19% | 7.00% | 2.18% | 3.99% |
Free Cash Flow Yield |
15.51% | 0.20% | 9.52% | 3.39% | 0.16% | 13.81% | 6.47% | 5.25% | 5.05% | 7.16% |
Revenue per Share |
125.69 | 127.00 | 156.47 | 144.84 | 121.36 | 101.48 | 110.46 | 97.26 | 86.28 | 70.25 |
Operating CF per Share |
13.02 | 4.75 | 16.21 | 8.58 | 4.79 | 16.46 | 10.67 | 7.63 | 9.30 | 9.17 |
Capex per Share |
(3.21) | (4.63) | (7.23) | (5.17) | (4.61) | (3.30) | (4.09) | (3.61) | (2.93) | (3.25) |
Free Cash Flow per Share |
9.81 | 0.12 | 8.99 | 3.41 | 0.18 | 13.16 | 6.57 | 4.03 | 6.37 | 5.92 |
Cash per Share |
2.43 | 5.09 | 6.44 | 5.47 | 8.19 | 10.25 | 2.56 | 2.58 | 2.20 | 1.98 |
Shareholders Equity per Share |
14.64 | 22.90 | 24.88 | 18.58 | 20.00 | 18.49 | 18.05 | 13.87 | 14.81 | 13.49 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
14.64 | 22.90 | 24.88 | 18.58 | 20.00 | 18.49 | 18.05 | 13.87 | 14.81 | 13.49 |
Free Cash Flow |
558.10 | 6.50 | 513.20 | 202.00 | 10.90 | 814.30 | 403.70 | 251.70 | 401.02 | 380.49 |
Working Capital |
(36.70) | 339.20 | 757.90 | 439.00 | 328.90 | 318.10 | 99.00 | 288.33 | 123.19 | 231.24 |
Capital Expenditures |
(182.90) | (261.70) | (412.60) | (306.60) | (282.80) | (204.30) | (251.40) | (225.40) | (184.39) | (209.14) |
Net Current Asset Value |
(1,854.20) | (1,598.70) | (1,403.80) | (1,348.80) | (1,262.50) | (1,280.40) | (1,695.30) | (1,772.20) | (904.43) | (1,041.57) |
EV/EBIT |
0.00 | 17.75 | 10.60 | 9.56 | 11.29 | 12.89 | 16.09 | 13.53 | 24.12 | 18.06 |
Capex to Sales |
0.03 | 0.04 | 0.05 | 0.04 | 0.04 | 0.03 | 0.04 | 0.04 | 0.03 | 0.05 |
Price to Operating Income |
0.00 | 11.20 | 7.69 | 7.41 | 9.46 | 11.32 | 12.91 | 9.83 | 22.08 | 15.16 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.28 | 0.24 | 0.22 | 0.23 | 0.23 | 0.36 | 0.26 | 0.25 | 0.26 | 0.23 |
Cash ROIC |
22.54% | 0.20% | 14.09% | 5.80% | 0.31% | 25.21% | 13.64% | 8.41% | 20.22% | 17.81% |
Accounts Receivable Turnover |
32.01 | 27.45 | 26.33 | 28.86 | 30.18 | 25.96 | 29.72 | 26.24 | 23.85 | 21.38 |
Accounts Payable Turnover |
8.73 | 8.95 | 8.94 | 8.17 | 7.30 | 7.70 | 12.89 | 13.79 | 13.88 | 11.90 |
Inventory Turnover |
3.67 | 3.21 | 3.76 | 3.89 | 4.23 | 4.13 | 4.91 | 5.22 | 5.36 | 4.68 |
Average Days of Payables |
48.12 | 35.98 | 37.32 | 46.67 | 49.79 | 60.16 | 32.01 | 27.61 | 28.23 | 29.29 |
Days of Inventory on Hand |
89.14 | 111.35 | 94.75 | 104.39 | 96.94 | 90.57 | 79.71 | 77.31 | 69.73 | 79.88 |
Average Receivables |
223.45 | 261.40 | 339.35 | 297.60 | 246.50 | 242.00 | 228.23 | 231.65 | 227.62 | 211.22 |
Average Payables |
662.65 | 637.95 | 780.35 | 811.80 | 779.10 | 616.20 | 398.25 | 331.84 | 295.56 | 286.70 |
Average Inventory |
1,576.95 | 1,776.00 | 1,853.30 | 1,703.40 | 1,344.15 | 1,149.35 | 1,045.31 | 876.74 | 765.25 | 728.27 |
Average Assets |
5,209.45 | 5,520.75 | 5,367.10 | 5,132.85 | 4,840.25 | 4,531.60 | 4,277.71 | 3,607.25 | 3,094.60 | 2,742.63 |
Average Common Equity |
1,063.50 | 1,357.45 | 1,261.15 | 1,163.90 | 1,185.55 | 1,126.50 | 987.61 | 899.34 | 899.35 | 924.26 |
Columns are period end dates