Polaris (PII) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Polaris

NYSE•Consumer Cyclical•Recreational Vehicles

$54.07-1.63(-0.03%)Market closed

Market Cap

$3.11B

P/S

0.4x

P/B

3.7x

Polaris Inc. designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off Road, On Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters; quadricycles; and pontoon and deck boats. It also provides source parts, garments, and accessories, such as helmets, jackets, gloves, pants, and hats; and snowmobile accessories comprising covers, traction products, reverse kits, electric starters, tracks, pull-behinds, bags, and windshields, as well as gear and apparel for its snowmobiles consisting of helmets, jackets, goggles, gloves, boots, bibs, pants, and hats. In addition, the company offers ORV accessories, including winches, bumper/brushguards, plows, racks, wheels and tires, cab systems, lighting and audio systems, cargo box accessories, and tracks, as well as replacement parts and lubricants. Further, it provides motorcycle accessories, such as performance enhancements, saddle bags, handlebars, backrests, exhausts, windshields, seats, and various chrome accessories, as well as light duty hauling and passenger vehicles. The company sells its products through dealers and distributors, as well as online. The company was formerly known as Polaris Industries Inc. Polaris Inc. was founded in 1945 and is headquartered in Medina, Minnesota.

How this company scores

WeakMetricSide Score: 34/100

Strongest: Growth (11/25); weakest: Cash & Earnings Quality (6/25).

Profitability9/25

Growth11/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality6/25

Strengths

Improving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 57.9x5y range 10.0x – 57.9x

Currently above its 15-quarter median.

P/S · 0.4x5y range 0.3x – 0.9x

Currently below its 20-quarter median.

P/B · 3.7x5y range 1.9x – 6.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 332.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 1.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $3.11B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $7.45B
Q. Revenue: $2.02B
TTM EBITDA: $78.70M
TTM Op. Income: $-190.00M
Q. Op. Income: $148.80M
TTM Net Income: $-260.40M
Q. Net Income: $106.40M
EPS: $1.85
Shares Out.: $57.50M

$7.45B in TTM revenue grew 8.4% YoY, reaching $2.02B last quarter. TTM EBITDA of $78.70M and TTM operating income of $-190.00M show growth is flowing through to the bottom line. However, net income is negative at $260.40M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 23.6%
EBITDA Margin: 10.6%
Op. Margin: 7.4%
Net Margin: 5.3%

Op. margin of 7.4% is up 8.1% YoY — cost efficiency is improving. Net margin at 5.3% and gross margin of 23.6% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.4x
P/B Ratio: 3.7x

P/S of 0.4x and P/B of 3.7x. P/S is low relative to typical market levels. Across the last 3 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.20B
Cash: $302.10M
Long-Term Debt: $1.92B
Book Value: $836.50M
D/E Ratio: 2.3
Debt/EBITDA: 9.0

With $5.20B in assets and $1.92B in long-term debt, D/E is 2.3and book value is $836.50M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 95% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $230.20M
TTM Free Cash Flow: $66.90M
FCF Margin: 0.9%
FCF / Net Income: -0.3

TTM FCF of $66.90M on $230.20M in operating cash flow. The FCF / Net Income ratio of -0.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.