Saturday 17 October 2026 Export POLA’s income statement to Excel — free account

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.

0.84 0.12 −12.50%

Follow POLA

Alert me

Market cap: $4.1M
P/E: 0.0×
Fwd P/E: 0.0×
Dividend yield: —
F-score: 2/9
Altman Z: −7.14
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 19.65%

Capital & Financial Ratios $m

Market Cap 4.14

Revenue 4.62

Net Income (9.61)

Free Cash Flow (2.24)

Net Debt 2.55

Current Ratio 1.07

Debt/Equity 3.19

P/E ratio 0.00

Fwd P/E 0.00

P/S ratio 0.68

P/B ratio 3.65

Past 5Y EPS Growth —

This Y EPS Growth 55.10%

Next Y EPS Growth —

Next Y revenue growth 4.62%

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 22.39%

10-year low 10-year high

P/B against its own 10 years 85.92%

10-year low 10-year high

EV/Sales against its own 10 years 35.55%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1	0	0	0
Receivables	4	2	0	1
Inventory	17	13	9	9
Other	—	—	—	—
	22	16	10	10

	2023	2024	2025	Q'26
Payables	2	0	3	2
ST’ Debt	4	5	4	3
Other	2	1	1	2
	10	9	10	9

Compound Annual Growth %

	10y	5y	3y
Sales	(0.82%)	(6.94%)	(26.77%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(24.05%)	(58.35%)	(80.07%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2	1	—	—	—
’25	2	3	1	1	6
’24	2	5	5	3	14
’23	4	6	2	4	15
’22	4	4	2	6	16
’21	3	5	4	5	17
’20	3	1	3	3	9

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(2)	0	—	—	—
’25	(1)	0	0	0	(1)
’24	(1)	1	(1)	0	(1)
’23	(1)	(2)	0	0	(3)
’22	(1)	(1)	(2)	(2)	(7)
’21	(3)	(3)	(1)	(2)	(9)
’20	(2)	(2)	(2)	0	(7)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(2)	0	—	—	—
’25	(1)	0	0	0	(1)
’24	(1)	1	(1)	0	(1)
’23	(1)	(2)	0	0	(4)
’22	(1)	(1)	(2)	(2)	(7)
’21	(3)	(3)	(1)	(3)	(9)
’20	(2)	(2)	(2)	0	(7)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.05)	(0.49)	—	—	—
’25	(0.50)	(0.11)	(1.63)	(1.35)	(3.59)
’24	(0.84)	0.21	0.01	(1.22)	(1.86)
’23	(0.63)	(0.21)	(0.98)	(1.68)	(3.43)
’22	(0.70)	(0.42)	(1.33)	(0.70)	(3.01)
’21	(1.05)	(0.49)	0.49	0.25	(0.78)
’20	(0.14)	(1.61)	(2.94)	(2.31)	(7.07)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	49.63	28.84	28.07	14.35	6.65	24.78	8.05	2.80	2.24	1.53	Analyst estimates 2026–2028 Powerpack
	High	74.83	80.50	47.95	37.45	46.48	215.74	46.76	13.16	4.90	5.75
People
People	Employees	104	117	179	132	106	104	113	87	82	67
	Revenue/emp, $m	0.22	0.12	0.13	0.19	0.09	0.16	0.14	0.18	0.17	0.09
Income, $m
Income, $m	Revenue	23	14	24	25	9	17	16	15	14	6
	Gross margin, %	44.65	33.02	30.91	19.83	(62.26)	20.39	13.23	4.54	9.41	(50.06)
	EBT	7	(1)	(1)	(4)	(13)	(1)	(6)	(7)	(5)	(9)
	EBT margin, %	31.86	(5.25)	(4.42)	(16.31)	(144.06)	(8.37)	(34.78)	(42.82)	(33.48)	(144.88)
	Net income	4	(1)	(1)	(4)	(11)	(1)	(6)	(7)	(5)	(9)
	Depreciation	0	0	0	1	1	1	1	0	0	0
Per share, $
Per share, $	Revenue	21.09	9.95	16.59	17.14	5.84	9.29	8.72	8.05	5.57	2.48
	Earnings	4.06	(0.56)	(0.56)	(2.80)	(7.07)	(0.77)	(3.01)	(3.43)	(1.86)	(3.59)
	Cash flow	0.58	(1.09)	(5.41)	(1.50)	(4.24)	(5.16)	(3.54)	(1.81)	(0.21)	(0.42)
	Capex	(0.27)	(0.24)	(0.40)	(0.23)	(0.01)	(0.04)	(0.01)	(0.10)	(0.01)	0.00
	Free cash flow	0.31	(1.33)	(5.81)	(1.73)	(4.25)	(5.20)	(3.55)	(1.91)	(0.22)	(0.42)
	Book value	21.88	15.80	15.44	12.70	7.43	12.79	9.88	6.95	3.39	0.06
	Shares, m	1	1	1	1	2	2	2	2	3	3
Valuation, ×
Valuation, ×	P/E	14.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	2.85	3.53	2.04	0.97	5.73	2.70	1.03	0.35	0.57	0.67
	P/B	2.75	2.22	2.19	1.31	4.50	1.96	0.91	0.40	0.94	29.47
	EV/Sales	2.22	2.66	1.90	0.93	5.79	2.47	1.13	0.59	0.88	1.28
	EV/FCF	152.84	(18.61)	(5.35)	(8.72)	(7.81)	(4.34)	(2.73)	(2.40)	(17.98)	(6.68)
Cash, $m
Cash, $m	Operating cash flow	1	(2)	(8)	(2)	(7)	(9)	(7)	(3)	(1)	(1)
	Capex	0	0	(1)	0	0	0	0	0	0	—
	Free cash flow	0	(2)	(8)	(3)	(7)	(9)	(7)	(4)	(1)	(1)
Balance, $m
Balance, $m	Working capital	23	22	21	16	10	22	17	12	7	0
	Total debt	0	0	1	2	2	1	2	4	5	4
	Net debt	(16)	(14)	(4)	(1)	1	(4)	2	4	4	4
	Shareholders’ equity	24	23	22	18	11	23	18	13	9	0
Returns, %
Returns, %	ROA	28.03	(2.96)	(3.41)	(16.58)	(52.57)	(6.29)	(21.74)	(26.48)	(21.85)	(65.28)
	ROIC	59.64	(5.61)	(3.83)	(14.42)	(67.13)	(9.99)	(17.37)	(22.18)	(21.34)	(132.27)
	ROE	33.99	(3.25)	(3.75)	(19.85)	(72.80)	(8.14)	(26.96)	(41.75)	(43.10)	(211.02)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EPOW E-Power Inc.	$8.5M	— (loss-making)	6.2×	+280.53% (above 0%: growing)	−216.67% (below 0%: shrinking)	−147.37% (below 0%: shrinking)	2.99%	0.00%	Compare
GWHT ESS Tech, Inc.	$6.3M	— (loss-making)	— (loss-making)	−96.90% (below 0%: shrinking)	n/m	+27.83% (above 0%: growing)	(10,165.75%)	(20,731.51%)	Compare
NXUR Nxu, Inc.	$6.1M	— (loss-making)	27.1×	−75.00% (below 0%: shrinking)	n/m	+61.06% (above 0%: growing)	(2,100.00%)	(256,000.00%)	Compare
DFLI Dragonfly Energy Holdings Corp.	$5.5M	— (loss-making)	— (loss-making)	−19.01% (below 0%: shrinking)	n/m	+47.29% (above 0%: growing)	33.00%	(22.03%)	Compare
CCTG CCSC Technology International Holdings Limited	$5.2M	—	—	—	—	−99.66% (below 0%: shrinking)	—	—	Compare
POLA Polar Power, Inc.	$4.1M	— (loss-making)	— (loss-making)	−62.37% (below 0%: shrinking)	n/m	+104.95% (above 0%: growing)	(33.07%)	(163.98%)
XPON Expion Energy, Inc.	$4.0M	— (loss-making)	— (loss-making)	−32.10% (below 0%: shrinking)	n/m	−270.31% (below 0%: shrinking)	32.43%	(64.10%)	Compare
ADNH Advent Technologies Holdings, Inc.	$3.0M	— (loss-making)	17.5×	−51.56% (below 0%: shrinking)	n/m	−96.29% (below 0%: shrinking)	(604.84%)	(3,829.03%)	Compare
ELPW Elong Power Holding Limited	$2.2M	—	—	—	n/m	+54.73% (above 0%: growing)	—	—	Compare
Median of peers	$5.3M	—	17.5×	−41.83%	—	−34.23%	(300.92%)	(1,946.56%)

All 52 Electrical Equipment & Parts stocks →

Polar Power, Inc. (POLA) key facts

Concern: Polar Power, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.3 million, down 54.9% from fiscal 2024.
Polar Power, Inc. (POLA) is an Electrical Equipment & Parts company in the Industrials sector, listed on Nasdaq.
As of October 16, 2026, POLA traded at $0.84, a market capitalization of $4.1 million.
Return on equity was −211.0% and debt-to-equity 3.19.
Its Piotroski F-score is 2 out of 9 and its Altman Z-score is −7.14 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.