# Polaris Inc.: financial statements, quarterly

PII · NYSE · CIK 931015 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/pii.md) · [Financials](/companies/pii/financials.md) · [Filings](/companies/pii/filings.md) · [Insiders](/companies/pii/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/pii/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,289 d](/filings/0001628280-26-008033.md) | [1,736](/filings/0001628280-25-020876.md) | [1,961](/filings/0001628280-25-036459.md) | [1,722](/filings/0001628280-25-046737.md) | [1,755 d](/filings/0001628280-26-008033.md) | [1,536](/filings/0001628280-26-027854.md) | [1,853](/filings/0001628280-26-050104.md) | [1,842](/filings/0001628280-26-067531.md) | [1,922 d](/filings/0001628280-26-008033.md) | [1,659](/filings/0001628280-26-027854.md) | [2,023](/filings/0001628280-26-050104.md) | [2,043](/filings/0001628280-26-067531.md) |
| Cost of revenue | $m | [1,812 d](/filings/0001628280-26-008033.md) | [1,406](/filings/0001628280-25-020876.md) | [1,537](/filings/0001628280-25-036459.md) | [1,368](/filings/0001628280-25-046737.md) | [1,398 d](/filings/0001628280-26-008033.md) | [1,291](/filings/0001628280-26-027854.md) | [1,494](/filings/0001628280-26-050104.md) | [1,461](/filings/0001628280-26-067531.md) | [1,538 d](/filings/0001628280-26-008033.md) | [1,324](/filings/0001628280-26-027854.md) | [1,545](/filings/0001628280-26-050104.md) | [1,610](/filings/0001628280-26-067531.md) |
| Gross profit | $m | [477 d](/filings/0001628280-26-008033.md) | [330](/filings/0001628280-25-020876.md) | [424](/filings/0001628280-25-036459.md) | [355](/filings/0001628280-25-046737.md) | [358 d](/filings/0001628280-26-008033.md) | [245](/filings/0001628280-26-027854.md) | [359](/filings/0001628280-26-050104.md) | [380](/filings/0001628280-26-067531.md) | [384 d](/filings/0001628280-26-008033.md) | [335](/filings/0001628280-26-027854.md) | [478](/filings/0001628280-26-050104.md) | [432](/filings/0001628280-26-067531.md) |
| Research and development | $m | [92.8 d](/filings/0001628280-26-008033.md) | [87.8](/filings/0001628280-25-020876.md) | [86.8](/filings/0001628280-25-036459.md) | [84.1](/filings/0001628280-25-046737.md) | [78.2 d](/filings/0001628280-26-008033.md) | [82.9](/filings/0001628280-26-027854.md) | [90.3](/filings/0001628280-26-050104.md) | [92.8](/filings/0001628280-26-067531.md) | [106 d](/filings/0001628280-26-008033.md) | [82.3](/filings/0001628280-26-027854.md) | [93.6](/filings/0001628280-26-050104.md) | [88.2](/filings/0001628280-26-067531.md) |
| Operating income | $m | [143 d](/filings/0001628280-26-008033.md) | [39.0](/filings/0001628280-25-020876.md) | [120](/filings/0001628280-25-036459.md) | [66.1](/filings/0001628280-25-046737.md) | [65.8 d](/filings/0001628280-26-008033.md) | [(36.1)](/filings/0001628280-26-027854.md) | [(12.9)](/filings/0001628280-26-050104.md) | [20.4](/filings/0001628280-26-067531.md) | [(320) d](/filings/0001628280-26-008033.md) | [(39.1)](/filings/0001628280-26-027854.md) | [149](/filings/0001628280-26-050104.md) | [73.4](/filings/0001628280-26-067531.md) |
| Interest expense | $m | [32.8 d](/filings/0001628280-26-008033.md) | [31.9](/filings/0001628280-25-020876.md) | [34.6](/filings/0001628280-25-036459.md) | [36.2](/filings/0001628280-25-046737.md) | [34.3 d](/filings/0001628280-26-008033.md) | [34.1](/filings/0001628280-26-027854.md) | [33.2](/filings/0001628280-26-050104.md) | [33.1](/filings/0001628280-26-067531.md) | [31.0 d](/filings/0001628280-26-008033.md) | [30.4](/filings/0001628280-26-027854.md) | [33.7](/filings/0001628280-26-050104.md) | [28.2](/filings/0001628280-26-067531.md) |
| Income tax | $m | [17.5 d](/filings/0001628280-26-008033.md) | [3.8](/filings/0001628280-25-020876.md) | [17.0](/filings/0001628280-25-036459.md) | [7.4](/filings/0001628280-25-046737.md) | [1.4 d](/filings/0001628280-26-008033.md) | [(4.4)](/filings/0001628280-26-027854.md) | [(13.5)](/filings/0001628280-26-050104.md) | [3.6](/filings/0001628280-26-067531.md) | [(53.6) d](/filings/0001628280-26-008033.md) | [(10.5)](/filings/0001628280-26-027854.md) | [26.8](/filings/0001628280-26-050104.md) | [17.6](/filings/0001628280-26-067531.md) |
| Net income | $m | [103 d](/filings/0001628280-26-008033.md) | [3.8](/filings/0001628280-25-020876.md) | [68.7](/filings/0001628280-25-036459.md) | [27.7](/filings/0001628280-25-046737.md) | [10.6 d](/filings/0001628280-26-008033.md) | [(66.8)](/filings/0001628280-26-027854.md) | [(79.3)](/filings/0001628280-26-050104.md) | [(15.8)](/filings/0001628280-26-067531.md) | [(304) d](/filings/0001628280-26-008033.md) | [(47.4)](/filings/0001628280-26-027854.md) | [106](/filings/0001628280-26-050104.md) | [38.4](/filings/0001628280-26-067531.md) |
| Diluted EPS | $ per share | not reported | [0.07](/filings/0001628280-25-020876.md) | [1.21](/filings/0001628280-25-036459.md) | [0.49](/filings/0001628280-25-046737.md) | not reported | [(1.17)](/filings/0001628280-26-027854.md) | [(1.39)](/filings/0001628280-26-050104.md) | [(0.28)](/filings/0001628280-26-067531.md) | not reported | [(0.83)](/filings/0001628280-26-027854.md) | [1.82](/filings/0001628280-26-050104.md) | [0.66](/filings/0001628280-26-067531.md) |
| Basic EPS | $ per share | not reported | [0.07](/filings/0001628280-25-020876.md) | [1.21](/filings/0001628280-25-036459.md) | [0.49](/filings/0001628280-25-046737.md) | not reported | [(1.17)](/filings/0001628280-26-027854.md) | [(1.39)](/filings/0001628280-26-050104.md) | [(0.28)](/filings/0001628280-26-067531.md) | not reported | [(0.83)](/filings/0001628280-26-027854.md) | [1.85](/filings/0001628280-26-050104.md) | [0.67](/filings/0001628280-26-067531.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [368](/filings/0001628280-26-008033.md) | [319](/filings/0001628280-25-020876.md) | [323](/filings/0001628280-25-036459.md) | [291](/filings/0001628280-25-046737.md) | [288](/filings/0001628280-26-008033.md) | [292](/filings/0001628280-26-027854.md) | [324](/filings/0001628280-26-050104.md) | [336](/filings/0001628280-26-067531.md) | [138](/filings/0001628280-26-067531.md) | [282](/filings/0001628280-26-027854.md) | [302](/filings/0001628280-26-050104.md) | [302](/filings/0001628280-26-067531.md) |
| Current assets | $m | [2,692](/filings/0001628280-25-006009.md) | [2,733](/filings/0001628280-24-017335.md) | [2,800](/filings/0001628280-24-032580.md) | [2,728](/filings/0001628280-24-043270.md) | [2,632](/filings/0001628280-26-008033.md) | [2,594](/filings/0001628280-25-020876.md) | [2,613](/filings/0001628280-25-036459.md) | [2,603](/filings/0001628280-25-046737.md) | [2,207](/filings/0001628280-26-067531.md) | [2,590](/filings/0001628280-26-027854.md) | [2,568](/filings/0001628280-26-050104.md) | [2,439](/filings/0001628280-26-067531.md) |
| Total assets | $m | [5,516](/filings/0001628280-25-006009.md) | [5,567](/filings/0001628280-24-017335.md) | [5,709](/filings/0001628280-24-032580.md) | [5,630](/filings/0001628280-24-043270.md) | [5,525](/filings/0001628280-26-008033.md) | [5,450](/filings/0001628280-25-020876.md) | [5,388](/filings/0001628280-25-036459.md) | [5,305](/filings/0001628280-25-046737.md) | [4,894](/filings/0001628280-26-067531.md) | [5,242](/filings/0001628280-26-027854.md) | [5,199](/filings/0001628280-26-050104.md) | [5,051](/filings/0001628280-26-067531.md) |
| Current liabilities | $m | [1,934](/filings/0001628280-25-006009.md) | [1,861](/filings/0001628280-24-017335.md) | [1,975](/filings/0001628280-24-032580.md) | [2,253](/filings/0001628280-24-043270.md) | [2,293](/filings/0001628280-26-008033.md) | [2,312](/filings/0001628280-25-020876.md) | [2,504](/filings/0001628280-25-036459.md) | [2,548](/filings/0001628280-25-046737.md) | [2,243](/filings/0001628280-26-067531.md) | [2,134](/filings/0001628280-26-027854.md) | [2,141](/filings/0001628280-26-050104.md) | [2,293](/filings/0001628280-26-067531.md) |
| Total liabilities | $m | [4,085](/filings/0001628280-25-006009.md) | [4,176](/filings/0001628280-24-017335.md) | [4,357](/filings/0001628280-24-032580.md) | [4,275](/filings/0001628280-24-043270.md) | [4,225](/filings/0001628280-26-008033.md) | [4,215](/filings/0001628280-25-020876.md) | [4,194](/filings/0001628280-25-036459.md) | [4,145](/filings/0001628280-25-046737.md) | [4,054](/filings/0001628280-26-067531.md) | [4,481](/filings/0001628280-26-027854.md) | [4,354](/filings/0001628280-26-050104.md) | [4,200](/filings/0001628280-26-067531.md) |
| Long-term debt | $m | [1,858](/filings/0001628280-26-008033.md) | not reported | not reported | not reported | [2,032](/filings/0001628280-26-008033.md) | not reported | not reported | not reported | [1,510](/filings/0001628280-26-008033.md) | not reported | not reported | not reported |
| Current portion of debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [1,418](/filings/0001628280-25-006009.md) | [1,378](/filings/0001628280-24-017335.md) | [1,338](/filings/0001628280-24-032580.md) | [1,342](/filings/0001628280-24-043270.md) | [1,290](/filings/0001628280-26-008033.md) | [1,226](/filings/0001628280-25-020876.md) | [1,185](/filings/0001628280-25-036459.md) | [1,150](/filings/0001628280-25-046737.md) | [828](/filings/0001628280-26-067531.md) | [750](/filings/0001628280-26-027854.md) | [837](/filings/0001628280-26-050104.md) | [845](/filings/0001628280-26-067531.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [550 d](/filings/0001628280-26-008033.md) | [(105)](/filings/0001628280-25-020876.md) | [146 d](/filings/0001628280-25-036459.md) | [21.0 d](/filings/0001628280-25-046737.md) | [206 d](/filings/0001628280-26-008033.md) | [83.2](/filings/0001628280-26-027854.md) | [320 d](/filings/0001628280-26-050104.md) | [159 d](/filings/0001628280-26-067531.md) | [179 d](/filings/0001628280-26-008033.md) | [(320)](/filings/0001628280-26-027854.md) | [230 d](/filings/0001628280-26-050104.md) | [382 d](/filings/0001628280-26-067531.md) |
| Capital expenditure | $m | [101 d](/filings/0001628280-26-008033.md) | [72.1](/filings/0001628280-25-020876.md) | [67.2 d](/filings/0001628280-25-036459.md) | [53.4 d](/filings/0001628280-25-046737.md) | [69.0 d](/filings/0001628280-26-008033.md) | [35.6](/filings/0001628280-26-027854.md) | [40.5 d](/filings/0001628280-26-050104.md) | [42.1 d](/filings/0001628280-26-067531.md) | [64.7 d](/filings/0001628280-26-008033.md) | [29.7](/filings/0001628280-26-027854.md) | [44.1 d](/filings/0001628280-26-050104.md) | [66.5 d](/filings/0001628280-26-067531.md) |
| Dividends paid | $m | [36.7 d](/filings/0001628280-26-008033.md) | [37.3](/filings/0001628280-25-020876.md) | [36.8 d](/filings/0001628280-25-036459.md) | [36.6 d](/filings/0001628280-25-046737.md) | [37.0 d](/filings/0001628280-26-008033.md) | [37.5](/filings/0001628280-26-027854.md) | [37.6 d](/filings/0001628280-26-050104.md) | [37.9 d](/filings/0001628280-26-067531.md) | [37.3 d](/filings/0001628280-26-008033.md) | [38.7](/filings/0001628280-26-027854.md) | [38.9 d](/filings/0001628280-26-050104.md) | [38.7 d](/filings/0001628280-26-067531.md) |
| Share repurchases | $m | [19.2 d](/filings/0001628280-26-008033.md) | [16.0](/filings/0001628280-25-020876.md) | [66.3 d](/filings/0001628280-25-036459.md) | [0.0 d](/filings/0001628280-25-046737.md) | [0.4 d](/filings/0001628280-26-008033.md) | [2.4](/filings/0001628280-26-027854.md) | [0.0 d](/filings/0001628280-26-050104.md) | [0.0 d](/filings/0001628280-26-067531.md) | [0.0 d](/filings/0001628280-26-008033.md) | [9.2](/filings/0001628280-26-027854.md) | [0.1 d](/filings/0001628280-26-050104.md) | [0.0 d](/filings/0001628280-26-067531.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [58.1](/filings/0001628280-24-017335.md) | [57.8](/filings/0001628280-24-032580.md) | [57.8](/filings/0001628280-24-043270.md) | [57.2](/filings/0001628280-25-020876.md) | [56.9](/filings/0001628280-25-036459.md) | [56.5](/filings/0001628280-25-046737.md) | [56.9](/filings/0001628280-26-027854.md) | [57.0](/filings/0001628280-26-050104.md) | [56.9](/filings/0001628280-26-067531.md) | [57.4](/filings/0001628280-26-027854.md) | [58.3](/filings/0001628280-26-050104.md) | [58.5](/filings/0001628280-26-067531.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 56,925,967 at 2026-10-20, from the cover of the [10-Q filed 2026-10-27](/filings/0001628280-26-067531.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 27, 2026, 16:33 ET. No prices; not investment advice.