10x Insights
Loading account…
PII

Polaris Inc.

Consumer DiscretionaryTransportation Equipment
Ticker PIIMEDINA, MNFiscal year ends DecemberBook value per share $14.35Diluted shares 58.3M

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. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$7.15BFY2025
−0.3% year over year
Last 12 mo $7.45B
-4.88%FY2025
−8.9 percentage points
Last 12 mo -2.55%
$-464.80MFY2025
−518.0% year over year
Last 12 mo $-259.60M
-49.03%FY2025
−57.6 percentage points
Last 12 mo -31.13%
Cash & financing
$741.00MFY2025
+176.3% year over year
Last 12 mo $247.50M
$558.10MFY2025
+8486.2% year over year
Last 12 mo $66.90M
1.86FY2025
Was 1.61× a year earlier
Last 12 mo 2.33
56.9MFY2025
+0.2% year over year
Last 12 mo 58.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Polaris Inc. does

In the company’s own words

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.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Transportation Equipment
Headquarters
MEDINA, MN
Fiscal year end
December
CIK
931015
SIC
3790

Financial performance, year by year

Fiscal 2013–2025 · USD
$-1.40B$1.42B$4.23B$7.05B$9.87B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Polaris Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

351
funds hold it
0 of 35
superinvestors hold it
$1.63B
held by funds, at market
41.7%
of shares held by funds
2
bond issues held by funds

Largest fund holders · Polaris Inc.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.10%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
0.45%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
0.11%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.12%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Polaris Inc.’s bonds, as funds hold them

Funds report holding 2 issues of Polaris Inc.’s debt, $249.62M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 6.19%, maturing 2029 to 2031.

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”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Polaris Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Polaris Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Polaris Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.