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Polaris PII Gross Profit

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Other financials

Income statement

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Revenue$2.0B+9.2%
Operating income$148.8M+1,253%
Net income$106.4M+234%
EPS (diluted)$1.82+231%

Balance sheet

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Cash & equivalents$302.1M-6.8%
Total debt$2.0B+6.3%
Total equity$836.5M-29.4%
Total assets$5.2B-3.5%

Cash flow

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Operating cash flow-$320.2M-485%
CapEx$44.1M+8.9%
Free cash flow-$349.9M-835%

Valuation

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Market cap$3.99B+34.6%
Enterprise value$5.67B+25.9%
P/S0.5×+0.1×

Profitability

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Gross margin21.2%+2.0pp
Operating margin-2.6%-3.8pp
Net margin-3.5%-18.9pp
FCF margin2.2%-1.1pp

Returns & leverage

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Return on equity-25.8%-51.1pp
Debt / equity2.4×+0.8×
Current ratio1.2×+0.2×

Where this comes from

Calculated from Polaris’s reported figures.

The source filing: Polaris’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 3:39 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050104
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Sales$2,022.8$1,852.7$3,681.5$3,388.5
Cost of sales1,544.51,493.52,868.42,784.3
Gross profit478.3359.2813.1604.2
Operating expenses:
Selling and marketing112.3124.6225.9242.2
Research and development93.690.3175.9173.2
General and administrative142.9127.4305.4230.1
Goodwill impairment52.652.6

Item 1 – FINANCIAL STATEMENTS

FAQ

What is Polaris's gross profit?
Polaris (PII) reported gross profit of $478.3M in Q2 2026.
How has Polaris's gross profit changed year-over-year?
Polaris's gross profit increased by 33.2% year-over-year, from $359.2M to $478.3M.
What is the long-term trend for Polaris's gross profit?
Over 4 years (2021 to 2025), Polaris's gross profit has grown at a -8.4% compound annual growth rate (CAGR), from $1.94B to $1.37B.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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