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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%
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 (above 2: weak)
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% (at or above 15%: strong)
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
EV/Sales is 1.2×, against a ten-year median of 1.6×; over the ten years it ranged from 0.6× in 2023 to 23.5× in 2021.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Polar Power, Inc. vs peers in Electrical Equipment & Parts (Q) = latest quarter vs a year earlier

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.

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stockrow.com/POLA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com