What is Polaris's invested capital?

Polaris (PII) reported invested capital of $2.59B in Q1 2026.

How has Polaris's invested capital changed year-over-year?

Polaris's invested capital decreased by 14.4% year-over-year, from $3.03B to $2.59B.

What is the long-term trend for Polaris's invested capital?

Over 5 years (2020 to 2025), Polaris's invested capital has grown at a 24.2% compound annual growth rate (CAGR), from $798.4M to $2.36B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Polaris PII Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

GriffonGFF

5.9%-9.9pp

Benchmark ElectronicsBHE

3.8%-1.7pp

Power IntegrationsPOWI

1.5%-1.0pp

Hayward HoldingsHAYW

8.3%+0.8pp

ChemoursCC

-0.6%-4.1pp

United States Lime & Minerals, Inc.USLM

46.5%-2.9pp

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow-$320.2M-485%

CapEx$29.7M-16.6%

Free cash flow-$349.9M-835%

Valuation

See full

Market cap$3.91B+34.8%

Profitability

See full

Gross margin20%+0.2pp

Operating margin-4.8%-7.9pp

Net margin-6.1%-6.7pp

FCF margin2.2%-1.1pp

Returns & leverage

See full

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.

$2.1Btotal debt+$750.4Mtotal stockholders equity−$282.0Mcash and equivalents=$2.59B

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 invested capital?: Polaris (PII) reported invested capital of $2.59B in Q1 2026.
How has Polaris's invested capital changed year-over-year?: Polaris's invested capital decreased by 14.4% year-over-year, from $3.03B to $2.59B.
What is the long-term trend for Polaris's invested capital?: Over 5 years (2020 to 2025), Polaris's invested capital has grown at a 24.2% compound annual growth rate (CAGR), from $798.4M to $2.36B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).