PII

Polaris Inc.

Ticker: PIIIndustrialsTransportation Equipment
HQ MEDINA, MNCIK 931015FY end 12-31Book / share $14.35Shares 58M
Revenue (FY)
$7.15B-0.33%
TTM $7.45B
Op. margin
-4.88%-8.93%
TTM -2.55%
Net income
$-464.80M-517.99%
TTM $-259.60M
Operating cash
$741.00M+176.29%
TTM $247.50M
Free cash flow
$558.10M+8486.15%
TTM $66.90M
Return on equity
-49.03%-57.62%
TTM -31.13%
Debt / equity
1.86+0.25%
TTM 2.33
Shares outstanding
56.9M+0.18%
TTM 58.3M

The business

Polaris Inc. (NYSE: PII) operates as a global designer, engineer, manufacturer and marketer of powersports vehicles and recreational marine products. The company's website is located at www.polaris.com.

The company operates through three primary business segments: Off Road, On Road, and Marine. The Off Road segment represents the largest division and includes all-terrain vehicles, side-by-side vehicles, snowmobiles, and commercial and military off-road vehicles, along with related parts, garments and accessories under brands including RANGER, RZR, GENERAL, POLARIS XPEDITION, SPORTSMAN, Kolpin, Pro Armor, Klim, and 509. The On Road segment designs and manufactures moto-roadsters, light-duty hauling vehicles, and passenger vehicles, primarily under the Slingshot brand, as well as commercial vehicles marketed under the Goupil and Aixam brands in Western Europe. The Marine segment produces recreational pontoon and deck boats under the Bennington, Godfrey, and Hurricane brands, positioning itself as a market leader in the pontoon boat category.

Polaris maintains a global manufacturing footprint with 18 primary assembly facilities and over 40 distribution centers worldwide. The company employs approximately 14,500 full-time employees across 24 countries, with roughly 47 percent of its workforce located outside the United States. The company distributes its products through approximately 2,400 independent dealers in North America and over 1,500 international dealers and 70 distributors serving more than 90 countries globally.

The company traces its origins to 1954 and was incorporated as a Delaware corporation in 1994. In 2025, Polaris entered into a definitive agreement to sell a majority interest in its Indian Motorcycle business, with the transaction closing in the first quarter of 2026. The company maintains significant vertical integration in key manufacturing components including plastic injection molding, precision machining, welding, and clutch assembly. Polaris invests substantially in research and development, employing approximately 1,200 engineers and product development specialists across multiple global facilities focused on innovation in powersports and marine technologies.

Sector
Industrials
Industry
Transportation Equipment
HQ
MEDINA, MN
FY end
12-31
CIK
931015
SIC
3790
Financial performance · annual
20132025
$-1.40B$1.42B$4.23B$7.05B$9.87B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Polaris Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

351
funds hold it
0 of 35
superinvestors hold it
$1.63B
fund-held value
41.7%
of shares held by funds
2
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.10%$126.45M
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
0.45%$120.94M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$117.41M
SMALLCAP World Fund Inc
SMCWX
0.11%$104.93M
iShares Russell 2000 ETF
IWM · iShares Trust
0.12%$96.20M

Bonds held by funds

Funds report holding 2 issues of Polaris Inc.'s debt, $249.62M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 6.19%, maturing 20292031.

IssueCouponMaturesFundsFund-held
Polaris, Inc.5.600%2031-03-0175$140.64M
Polaris Inc6.950%2029-03-1545$108.98M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of Polaris Inc.'s financials

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