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Polaris PII Free cash flow margin

Free cash flow margin at other companies

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6.2%
Thor Industries logo
Thor IndustriesTHO
2.3%-3.4pp
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LKQLKQ
5.8%+1.7pp
Rivian Automotive, Inc. logo
Rivian Automotive, Inc.RIVN
-55%
Dorman Products logo
Dorman ProductsDORM
3.3%-6.0pp
Tractor Supply Company logo
Tractor Supply CompanyTSCO
3.5%

Other financials

Income statement

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Revenue$1.7B+8.0%
Gross profit$334.8M+36.7%
Operating income-$39.1M-8.3%
Net income-$47.4M+29.0%
EPS (diluted)-$0.83+29.1%

Balance sheet

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Cash & equivalents$282.0M-3.3%
Total debt$2.1B+1.4%
Total equity$750.4M-38.8%
Total assets$5.2B-3.8%

Cash flow

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Operating cash flow-$320.2M-485%
CapEx$29.7M-16.6%
Free cash flow-$349.9M-835%

Valuation

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Market cap$4.06B+34.8%
Enterprise value$5.9B+20.5%
P/S0.6×+0.1×

Profitability

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Gross margin20%+0.2pp
Operating margin-4.8%-7.9pp
Net margin-6.1%-6.7pp

Returns & leverage

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Return on equity-45.1%-48.2pp
Debt / equity2.8×+1.1×
Current ratio1.2×+0.1×

Where this comes from

Calculated from Polaris’s reported figures.

Based on trailing twelve months.

The official record: Polaris’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Polaris's free cash flow margin?
Polaris (PII) reported free cash flow margin of 2.2% in Q1 2026.
How has Polaris's free cash flow margin changed year-over-year?
Polaris's free cash flow margin decreased by 33.5% year-over-year, from 3.3% to 2.2%.
What is the long-term trend for Polaris's free cash flow margin?
Over 4 years (2020 to 2025), Polaris's free cash flow margin has grown at a -11.9% compound annual growth rate (CAGR), from 13% to 7.8%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.