Polar Power, Inc.
POLA Industrials Electrical Equipment & Parts
Polar Power, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.3 million, down 54.9% from fiscal 2024. In the quarter to June 2026, revenue fell 62.4%, EPS fell 345.5%, free cash flow grew 105.0% and total debt fell 48.5%, each against the same quarter a year earlier.
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Polar Power, Inc. (POLA) Piotroski F-score
Polar Power, Inc.'s Piotroski F-score for fiscal 2025 is 2 out of 9: 2 of nine tests of profitability, leverage and efficiency passed, down from 5 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 2 | (3.00) |
| FY2024 | 5 | 3.00 |
| FY2023 | 2 | 1.00 |
| FY2022 | 1 | (4.00) |
| FY2021 | 5 | 4.00 |
| FY2020 | 1 | (3.00) |
| FY2019 | 4 | 2.00 |
| FY2018 | 2 | 0.00 |
| FY2017 | 2 | (4.00) |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (65.28%) | (21.85%) | Fail | 0 |
| Positive operating cash flow | (1.06m) | (536.00k) | Fail | 0 |
| Rising return on assets | (65.28%) | (21.85%) | Fail | 0 |
| Cash flow above net income | 8.07m | 4.14m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 0.97 | 1.82 | Fail | 0 |
| No new shares issued | 2,540,700 | 2,508,900 | Fail | 0 |
| Rising gross margin | (50.06%) | 9.41% | Fail | 0 |
| Rising asset turnover | 0.45 | 0.65 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 2 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| ADNH Advent Technologies Holdings, Inc. compare | 5 |
| ELPW Elong Power Holding Limited compare | 5 |
| DFLI Dragonfly Energy Holdings Corp. compare | 5 |
| XPON Expion Energy, Inc. compare | 4 |
| CCTG CCSC Technology International Holdings Limited compare | 3 |
| POLA Polar Power, Inc. | 2 |
| GWHT ESS Tech, Inc. compare | 1 |
| EPOW E-Power Inc. compare | 0 |
| NXUR Nxu, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover