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Polaris PII Operating margin

Operating margin at other companies

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6.9%-1.5pp
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Rivian Automotive, Inc.RIVN
-68.9%-6.6pp
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Dorman ProductsDORM
12.9%-2.6pp
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Kirby CorporationKEX
14.6%+2.1pp

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
Net margin-6.1%-6.7pp
FCF margin2.2%-1.1pp

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 operating margin?
Polaris (PII) reported operating margin of -4.8% in Q1 2026.
How has Polaris's operating margin changed year-over-year?
Polaris's operating margin decreased by 256.5% year-over-year, from 3.1% to -4.8%.
What is the long-term trend for Polaris's operating margin?
Over 5 years (2020 to 2025), Polaris's operating margin has grown at a -10.1% compound annual growth rate (CAGR), from 8.3% to -4.9%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.