Stock

Polaris

PII

Auto - Recreational Vehicles · Consumer Cyclical

Also trades as: 0KJQ.L GBP 0.57 (+3.21%)

Price

$56.69

+2.40 (+4.42%)

Market Cap

$3.23B

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

7/30

Growth

Mixed

5/20

Cash Flow

Weak

1/10

Stability

Weak

1/10

Valuation

Data not available

0/10

Ownership

Good

8/15

Dividends

Good

3/5

25 of 100 counted points = Winston Score 25.

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Share count falling — buybacks

−9.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 62.7M (2021) → 56.9M (2025)

§Winston Score History

The full picture

Polaris Inc. makes powersports vehicles — off-road vehicles, snowmobiles, motorcycles, and boats. Its brands include Polaris, Indian Motorcycle, Slingshot, and Bennington boats. The company sells to everyday consumers who use these vehicles for recreation and outdoor adventure, making it one of the largest powersports manufacturers in North America.

Polaris earns money by selling vehicles through a network of dealers, and also generates revenue from parts, accessories, and apparel tied to its brands. It operates primarily in North America but also sells in international markets. Its dealer network and portfolio of well-known brands give it a durable position in the market. The main risk the company faces right now is weak consumer demand for big-ticket discretionary purchases — reflected in its near-zero operating margin — as higher interest rates and cautious spending have slowed powersports sales across the industry.

Politician Trades

3 trades / 12mo

1 Congressional buy and 2 sells on PII in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.2% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+233.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$372M/ year

↑ Rising (+10% vs prior year)

5.2% of revenue

In line with sector average (4%)

R&D investment increasing — building for the future

Insider Activity

6.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$433M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Polaris is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

23.6%

Thin — 23.6% gross margin

Profit after running costs

Operating Margin

6.5%

Modest — 6.5% operating margin

Return on the money invested

ROCE

2.7%

Weak — 2.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+8.4%

Steady sales growth (+8.4% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.9%

Thin free cash flow (0.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

2.33

Heavy debt load (2.33)

Covers its interest

Interest Cover

0.58x

Dangerous — barely covers interest (0.6x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

5.06%

Healthy income — 5.06% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+1.5%

Dividend flat

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