Company research
Polaris Inc.
CIK 931015Updated Sep 26, 2026
SecurityPII · NYSE · equity
Name history
POLARIS INDUSTRIES INC/MN · through Jul 23, 2019
PII price & chart
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Polaris Expects Recent Tariff Policy Changes Will Not Have a Material Impact on The Financial Guidance Provided on March 3, 2026 ↗
Recent filings
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Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 4,893,700,000Source | 5,525,200,000Source | 5,516,300,000Source | 5,217,900,000Source |
| Property, Plant and Equipment, NetUSD | 1,030,600,000Source | 1,186,700,000Source | 1,201,500,000Source | 1,018,400,000Source |
| GoodwillUSD | 348,800,000Source | 393,500,000Source | 394,400,000Source | 386,200,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 451,200,000Source | 542,700,000Source | 512,000,000Source | 524,400,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 138,000,000Source | 287,800,000Source | 367,800,000Source | 324,500,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 237,500,000Source | 192,300,000Source | 306,400,000Source | 343,000,000Source |
| Inventory, NetUSD | 1,412,400,000Source | 1,741,500,000Source | 1,810,500,000Source | 1,896,100,000Source |
| Assets, CurrentUSD | 2,206,600,000Source | 2,632,400,000Source | 2,691,700,000Source | 2,767,600,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 366,900,000Source | 395,700,000Source | 198,000,000Source | 183,700,000Source |
| Operating Lease, Right-of-Use AssetUSD | 121,000,000Source | 127,200,000Source | 143,900,000Source | 111,000,000Source |
| Other Assets, NoncurrentUSD | 78,500,000Source | 121,400,000Source | 135,800,000Source | 106,700,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 4,054,100,000Source | 4,224,700,000Source | 4,085,200,000Source | 4,103,800,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 600,000Source | 600,000Source | 600,000Source | 600,000Source |
| Additional Paid in CapitalUSD | 1,328,900,000Source | 1,265,900,000Source | 1,231,800,000Source | 1,152,100,000Source |
| Retained Earnings (Accumulated Deficit)USD | -469,000,000Source | 148,900,000Source | 243,500,000Source | 33,800,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -32,100,000Source | -125,500,000Source | -57,500,000Source | -87,500,000Source |
| Stockholders' Equity Attributable to ParentUSD | 828,400,000Source | 1,289,900,000Source | 1,418,400,000Source | 1,099,000,000Source |
| Liabilities and EquityUSD | 4,893,700,000Source | 5,525,200,000Source | 5,516,300,000Source | 5,217,900,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 2,243,300,000Source | 2,293,200,000Source | 1,933,800,000Source | 2,328,600,000Source |
| Operating Lease, Liability, CurrentUSD | 28,100,000Source | 28,800,000Source | 29,500,000Source | 24,100,000Source |
| Accounts Payable, CurrentUSD | 762,500,000Source | 562,800,000Source | 713,100,000Source | 847,600,000Source |
| Operating Lease, Liability, NoncurrentUSD | 97,100,000Source | 99,700,000Source | 115,100,000Source | 87,000,000Source |
| Deferred Income Tax Liabilities, NetUSD | 7,300,000Source | 6,100,000Source | 2,700,000Source | 4,600,000Source |
| Other Liabilities, NoncurrentUSD | 306,100,000Source | 293,400,000Source | 297,000,000Source | 167,700,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 4,500,000Source | 4,200,000Source | 2,400,000Source | 2,500,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 1,355,000,000Source | 1,259,700,000Source | 1,123,600,000Source | 896,800,000Source |
| Deferred Revenue, CurrentUSD | 36,900,000Source | 35,600,000Source | 35,300,000Source | 35,500,000Source |
| Deferred Revenue, NoncurrentUSD | 78,500,000Source | 75,700,000Source | 75,000,000Source | 75,600,000Source |
| Long-term DebtUSD | 1,510,400,000Source | 2,032,000,000Source | 1,858,200,000Source | — |
| Long-term Debt, Current MaturitiesUSD | — | — | — | 553,600,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | — | — | — | 1,504,200,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -464,800,000Source | 111,200,000Source | 502,700,000Source | 447,600,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 286,500,000Source | 286,300,000Source | 258,900,000Source | 232,800,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 59,900,000Source | 49,200,000Source | 57,400,000Source | 62,900,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 34,100,000Source | -103,400,000Source | -49,000,000Source | 122,600,000Source |
| Increase (Decrease) in InventoriesUSD | -183,600,000Source | -39,500,000Source | -115,100,000Source | 391,100,000Source |
| Increase (Decrease) in Accounts PayableUSD | 196,700,000Source | -141,800,000Source | -143,800,000Source | 71,700,000Source |
| Deferred Income Tax Expense (Benefit)USD | -139,100,000Source | -86,700,000Source | -86,800,000Source | -48,900,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 741,000,000Source | 268,200,000Source | 925,800,000Source | 508,600,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 22,700,000Source | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -139,500,000Source | -270,900,000Source | -462,000,000Source | -324,600,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 182,900,000Source | 261,700,000Source | 412,600,000Source | 306,600,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 2,400,000Source | 82,700,000Source | 178,600,000Source | 505,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -693,000,000Source | -59,200,000Source | -431,300,000Source | -363,200,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 150,300,000Source | 147,700,000Source | 147,300,000Source | 150,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -66,700,000Source | -79,900,000Source | 43,200,000Source | -189,400,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 236,300,000Source | 303,000,000Source | 382,900,000Source | 339,700,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 125,500,000Source | 141,500,000Source | 120,600,000Source | 71,200,000Source |
| Income Taxes Paid, NetUSD | 47,200,000Source | 123,600,000Source | 187,200,000Source | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 24,800,000Source | -18,000,000Source | 10,700,000Source | -10,200,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 48,200,000Source | 33,200,000Source | 42,200,000Source | 50,600,000Source |
| Amortization of Intangible AssetsUSD | 23,000,000Source | 21,900,000Source | 17,700,000Source | 18,800,000Source |
| DepreciationUSD | 263,500,000Source | 264,400,000Source | 241,200,000Source | 214,000,000Source |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of TaxUSD | — | 0Source | 0Source | -142,600,000Source |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxUSD | — | 0Source | 0Source | -13,200,000Source |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on DisposalUSD | -327,100,000Source | — | 0Source | 0Source |
| Gain (Loss) on Disposition of BusinessUSD | — | — | 0Source | 0Source |
| General and Administrative ExpenseUSD | 541,800,000Source | 436,500,000Source | 422,800,000Source | 355,900,000Source |
| GoodwillUSD | 348,800,000Source | 393,500,000Source | 394,400,000Source | 386,200,000Source |
| Goodwill, Impairment LossUSD | 52,600,000Source | — | — | 0Source |
| Impairment of Intangible Assets (Excluding Goodwill)USD | 80,800,000Source | — | — | — |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)USD | — | -9,500,000Source | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | 110,800,000Source | 502,800,000Source | 602,900,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 111,200,000Source | 502,700,000Source | 603,400,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 0Source | 0Source | -13,200,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | 0Source | 0Source | -155,800,000Source |
| Income Tax Expense (Benefit)USD | -67,900,000Source | 29,600,000Source | 117,700,000Source | 158,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | -465,500,000Source | 110,800,000Source | 502,800,000Source | 447,100,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 700,000Source | 400,000Source | -100,000Source | 500,000Source |
| Operating ExpensesUSD | 1,801,700,000Source | 1,273,800,000Source | 1,339,400,000Source | 1,203,400,000Source |
| Other Nonoperating Income (Expense)USD | -52,600,000Source | -12,800,000Source | 44,500,000Source | 28,600,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 3,141,700,000Source | 3,694,600,000Source | 2,770,000,000Source | 2,987,500,000Source |
| Restructuring CostsUSD | 20,100,000Source | 23,400,000Source | — | — |
| Stock or Unit Option Plan ExpenseUSD | 10,800,000Source | 12,000,000Source | 11,500,000Source | 11,400,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 7,152,000,000Source | 7,175,400,000Source | 8,934,400,000Source | 8,589,000,000Source |
| Cost of RevenueUSD | 5,783,300,000Source | 5,708,600,000Source | 6,974,500,000Source | 6,629,500,000Source |
| Operating Income (Loss)USD | -348,700,000Source | 290,600,000Source | 700,900,000Source | 804,500,000Source |
| Other Nonoperating Income (Expense)USD | -52,600,000Source | -12,800,000Source | 44,500,000Source | 28,600,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -532,700,000Source | 140,800,000Source | 620,400,000Source | 761,400,000Source |
| Income Tax Expense (Benefit)USD | -67,900,000Source | 29,600,000Source | 117,700,000Source | 158,000,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 700,000Source | 400,000Source | -100,000Source | 500,000Source |
| Net Income (Loss) Attributable to ParentUSD | -465,500,000Source | 110,800,000Source | 502,800,000Source | 447,100,000Source |
| Earnings Per Share, BasicUSD per share | -8.18Source | 1.96Source | 8.8Source | 7.54Source |
| Earnings Per Share, DilutedUSD per share | -8.18Source | 1.95Source | 8.71Source | 7.44Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 56,900,000Source | 56,500,000Source | 57,100,000Source | 59,300,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 56,900,000Source | 56,800,000Source | 57,700,000Source | 60,100,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 23,000,000Source | 21,900,000Source | 17,700,000Source | 18,800,000Source |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxUSD | — | 0Source | 0Source | -13,200,000Source |
| General and Administrative ExpenseUSD | 541,800,000Source | 436,500,000Source | 422,800,000Source | 355,900,000Source |
| Goodwill, Impairment LossUSD | 52,600,000Source | — | — | 0Source |
| Gross ProfitUSD | 1,368,700,000Source | 1,466,800,000Source | 1,959,900,000Source | 1,959,500,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | 110,800,000Source | 502,800,000Source | 602,900,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | -538,100,000Source | 1,300,000Source | 480,700,000Source | 608,400,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 111,200,000Source | 502,700,000Source | 603,400,000Source |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | — | 1.96Source | 8.8Source | 10.17Source |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | — | 1.95Source | 8.71Source | 10.04Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 0Source | 0Source | -13,200,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | 0Source | 0Source | -155,800,000Source |
| Interest ExpenseUSD | 131,400,000Source | 137,000,000Source | 125,000,000Source | 71,700,000Source |
| Operating ExpensesUSD | 1,801,700,000Source | 1,273,800,000Source | 1,339,400,000Source | 1,203,400,000Source |
| Research and Development ExpenseUSD | 371,900,000Source | 336,900,000Source | 374,300,000Source | 366,700,000Source |
| Restructuring CostsUSD | 20,100,000Source | 23,400,000Source | — | — |
| Selling and Marketing ExpenseUSD | 505,000,000Source | 500,400,000Source | 542,300,000Source | 480,800,000Source |
Filing attachments
d75708dex41.htm · 8-K · 2025-11-13
EX-4.1 3 d75708dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 EXECUTION VERSION POLARIS INC. and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee SECOND SUPPLEMENTAL INDENTURE Dated as of November 13, 2025 to INDENTURE Dated as of November 16, 2023 5.600% Senior Notes due 2031 TABLE OF CONTENTS PAGE ARTICLE 1 DEFINITIONS Section 1.01. Definition of Terms 2 …
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