Polaris Inc.

PIINYSEConsumer Cyclical● Active

$66.84

+$0.78(+1.17%)

Market Cap$3.8B

P/E Ratio—

52W High$75.25

52W Low$38.42

Avg Volume1.3M

Open$66.19

Beta1.26

Free Cash Flow Financials Revenue

Polaris Inc. (PII) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

PII · free cash flow · updated Jun 8, 2026

Core FCF metrics

PII · FCF · TTM · margin & CAGR

Free cash flow was $558.1M for FY2025 (fiscal year ending 2025-12-31), up 8486.2% year-over-year The FCF margin was 7.8%. Five-year CAGR stands at -7.1%.

FY2025 Free Cash Flow$558.1M▲ +8486.2% YoY

Trailing 12M (TTM)$160.6Mtrailing 4 quarters sum

FCF Margin7.8%$558.1M ÷ revenue

3-Year CAGR+40.3%FY2022 → FY2025

5-Year CAGR-7.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

PII · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$741.0M(183M)$558.1M▲ +8486.2%7.8%

FY2024$268.2M(262M)$6.5M▼ 98.7%0.1%

FY2023$925.8M(413M)$513.2M▲ +154.1%5.7%

FY2022$508.6M(307M)$202.0M▲ +4491.3%2.4%

FY2021$293.7M(298M)−$4.6M▼ 100.6%-0.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

PII · P/FCF · FCF yield · FCF per share

Polaris Inc. (PII) trades at a FCF yield of 4.18% and a price-to-free-cash-flow ratio of 23.7x. FCF per share stands at $2.82, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.18%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.82

TTM FCF ÷ Shares Outstanding

Price / FCF

x23.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x35.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

PII · cash flow statement · operating / investing / financing

For FY2025, Polaris Inc. generated $741.0M in operating cash flow and spent 183M in capital expenditures, yielding $558.1M in free cash flow.

Operating Activities

+$741.0M

Cash from core business operations

2025-12-31

Investing Activities

−$139.5M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$693.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($741.0M) − |CapEx| (183M) = FCF ($558.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

PII vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Polaris Inc.YOU

PII

$558.1M+8486.2%7.8%

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Polaris Inc. (PII) reported free cash flow of $558.1M for FY2025 (fiscal year ending 2025-12-31), up 8486.2% year-over-year. The FCF margin was 7.8%.

Based on available data, Polaris Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $804.7M in FY2020. The 5-year CAGR stands at -7.1%.

Polaris Inc.'s FCF yield is 4.18% and price-to-FCF ratio is 23.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

PII free cash flow · 8 questions

Polaris Inc. free cash flow was $558.1M for FY2025, up 8486.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $160.6M.

PII free cash flowPII FCFPII FCF 2025PII free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Polaris Inc. · Polaris Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026