Revenue
$1.66B
Fiscal year ended 2026-03-31Operating income
-$39.10M
Fiscal year ended 2026-03-31Free cash flow
-$349.90M
Fiscal year ended 2026-03-31Polaris Inc. (PII) reported revenue of $1.66B and net income of -$47.40M for the fiscal year ended 2026-03-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Polaris Inc.’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.92B | $1.84B | $1.85B | $1.54B | $1.76B | $1.72B | $1.96B | $1.74B | $2.29B |
| Cost of revenue | $1.32B | $1.54B | $1.46B | $1.49B | $1.29B | $1.40B | $1.37B | $1.54B | $1.41B | $1.81B |
| Gross profit | $334.80M | $384.20M | $380.30M | $359.20M | $245.00M | $357.90M | $354.60M | $424.00M | $330.30M | $476.90M |
| Operating income | -$39.10M | -$320.10M | $20.40M | -$12.90M | -$36.10M | $65.80M | $66.10M | $119.70M | $39.00M | $142.70M |
| Net income | -$47.40M | -$303.60M | -$15.80M | -$79.30M | -$66.80M | $10.60M | $27.70M | $68.70M | $3.80M | $103.40M |
| Research & development | $82.30M | $105.90M | $92.80M | $90.30M | $82.90M | $78.20M | $84.10M | $86.80M | $87.80M | $92.80M |
| Weighted-average diluted shares | shares 57.40M | Unavailable | shares 56.90M | shares 57.00M | shares 56.90M | Unavailable | shares 56.50M | shares 56.90M | shares 57.20M | Unavailable |
| Pretax income | -$57.70M | -$356.90M | -$12.10M | -$92.60M | -$71.10M | $12.20M | $35.00M | $85.90M | $7.70M | $120.80M |
| Income tax expense | -$10.50M | -$53.60M | $3.60M | -$13.50M | -$4.40M | $1.40M | $7.40M | $17.00M | $3.80M | $17.50M |
| Diluted EPS | $-0.83 | Unavailable | $-0.28 | $-1.39 | $-1.17 | Unavailable | $0.49 | $1.21 | $0.07 | Unavailable |
| Selling, general & administrative | $276.10M | $330.00M | $244.50M | $252.00M | $220.30M | $240.00M | $228.50M | $243.00M | $225.40M | $263.90M |
| General & administrative | $162.50M | $193.90M | $117.80M | $127.40M | $102.70M | $126.20M | $100.90M | $110.40M | $99.00M | $136.90M |
| Selling & marketing | $113.60M | $136.10M | $126.70M | $124.60M | $117.60M | $113.80M | $127.60M | $132.60M | $126.40M | $127.00M |
Balance
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $282.00M | $138.00M | $335.50M | $324.30M | $291.70M | $287.80M | $291.30M | $322.70M | $318.80M | $367.80M |
| Total assets | $5.24B | $4.89B | $5.31B | $5.39B | $5.45B | $5.53B | $5.63B | $5.71B | $5.57B | $5.52B |
| Current assets | $2.59B | $2.21B | $2.60B | $2.61B | $2.59B | $2.63B | $2.73B | $2.80B | $2.73B | $2.69B |
| Total liabilities | $4.48B | $4.05B | $4.14B | $4.19B | $4.22B | $4.22B | $4.27B | $4.36B | $4.18B | $4.09B |
| Current liabilities | $2.13B | $2.24B | $2.55B | $2.50B | $2.31B | $2.29B | $2.25B | $1.98B | $1.86B | $1.93B |
| Total equity incl. NCI | $755.10M | $832.90M | $1.15B | $1.19B | $1.23B | $1.29B | $1.35B | $1.34B | $1.38B | $1.42B |
| Temporary (mezzanine) equity | $5.80M | $6.70M | $6.50M | $4.50M | $4.50M | $6.40M | $9.40M | $9.10M | $11.20M | $10.30M |
| Inventory | $1.57B | $1.41B | $1.70B | $1.70B | $1.75B | $1.74B | $2.00B | $2.00B | $1.95B | $1.81B |
| Accounts receivable | $249.00M | $237.50M | $230.30M | $225.20M | $211.30M | $192.30M | $223.70M | $254.90M | $254.10M | $306.40M |
| Goodwill | $348.80M | $348.80M | $348.60M | $348.60M | $396.30M | $393.50M | $399.10M | $395.70M | $392.40M | $394.40M |
| Long-term debt | $2.06B | $1.50B | $1.30B | $1.39B | $1.62B | $1.64B | $1.73B | $2.09B | $2.01B | $1.86B |
| Accounts payable | $833.50M | $762.50M | $808.80M | $773.90M | $723.60M | $562.80M | $700.70M | $785.40M | $779.00M | $713.10M |
Cash flow
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$320.20M | $178.70M | $158.80M | $320.30M | $83.20M | $206.30M | $21.00M | $146.30M | -$105.40M | $549.80M |
| Capital expenditures | $29.70M | $64.70M | $42.10M | $40.50M | $35.60M | $69.00M | $53.40M | $67.20M | $72.10M | $100.90M |
| Investing cash flow | -$121.60M | -$62.70M | -$17.10M | -$31.40M | -$28.30M | -$52.70M | -$52.40M | -$109.10M | -$56.70M | -$116.10M |
| Financing cash flow | $506.60M | -$233.80M | -$130.30M | -$272.00M | -$56.90M | -$142.00M | -$4.60M | -$28.30M | $115.70M | -$369.90M |
| Net change in cash | $61.90M | -$115.20M | $11.60M | $32.80M | $4.10M | -$3.40M | -$31.20M | $3.90M | -$49.20M | $72.40M |
| Stock-based compensation | $20.70M | $10.80M | $16.30M | $20.20M | $12.60M | $10.80M | $10.00M | $15.90M | $12.50M | $12.60M |
| Common dividends paid | $38.70M | $37.30M | $37.90M | $37.60M | $37.50M | $37.00M | $36.60M | $36.80M | $37.30M | $36.70M |
| Common share repurchases | $9.20M | $0 | $0 | $0 | $2.40M | $400.00K | $0 | $66.30M | $16.00M | $19.20M |
| Depreciation & amortization | $63.20M | $67.60M | $72.60M | $72.90M | $73.40M | $79.50M | $74.40M | $69.50M | $62.90M | $72.00M |
Derived
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$349.90M | $114.00M | $116.70M | $279.80M | $47.60M | $137.30M | -$32.40M | $79.10M | -$177.50M | $448.90M |
| Gross margin | 20.2% | 20.0% | 20.7% | 19.4% | 16.0% | 20.4% | 20.6% | 21.6% | 19.0% | 20.8% |
| Operating margin | -2.4% | -16.7% | 1.1% | -0.7% | -2.4% | 3.7% | 3.8% | 6.1% | 2.2% | 6.2% |
| FCF margin | -21.1% | 5.9% | 6.3% | 15.1% | 3.1% | 7.8% | -1.9% | 4.0% | -10.2% | 19.6% |
| SBC / revenue | 1.2% | 0.6% | 0.9% | 1.1% | 0.8% | 0.6% | 0.6% | 0.8% | 0.7% | 0.6% |
| Current ratio | 1.21x | 0.98x | 1.02x | 1.04x | 1.12x | 1.15x | 1.21x | 1.42x | 1.47x | 1.39x |
| Revenue YoY growth | 8.0% | 9.5% | 6.9% | -5.5% | -11.6% | -23.3% | -23.4% | -11.5% | -20.3% | -4.8% |
| Net margin | -2.9% | -15.8% | -0.9% | -4.3% | -4.3% | 0.6% | 1.6% | 3.5% | 0.2% | 4.5% |
| R&D / revenue | 5.0% | 5.5% | 5.0% | 4.9% | 5.4% | 4.5% | 4.9% | 4.4% | 5.1% | 4.1% |
| CapEx / revenue | 1.8% | 3.4% | 2.3% | 2.2% | 2.3% | 3.9% | 3.1% | 3.4% | 4.2% | 4.4% |
| Long-term debt / equity | 2.72x | 1.81x | 1.13x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 1.31x |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 11.5% | 21.1% | 19.8% | 49.4% | 14.5% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open PII in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-04-28View SEC filing
10-K · Filed 2026-02-13View SEC filing
10-Q · Filed 2025-10-28View SEC filing
10-Q · Filed 2025-07-29View SEC filing
10-Q · Filed 2025-04-30View SEC filing
10-K · Filed 2025-02-18View SEC filing
Companies in the same industry
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.