Question 1

What is Polaris's P/E ratio?

Accepted Answer

Polaris (PII) P/E ratio is 70.0× as of July 28, 2025. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Polaris?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Polaris specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

Is Polaris's P/E ratio high or low?

Accepted Answer

Polaris's P/E ratio of 70.0× is above its own 5-year average of 16.8× and above the sector median of 21.7×. That places the current reading at the 99th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Polaris's historical P/E ratio range?

Accepted Answer

In the available daily series, Polaris (PII) P/E ratio has ranged from a low of 6.5× in 2009 to a high of 234.2× in 2020. The 5-year average is 16.8× and the 5-year median is 12.9×.

Question 7

What was Polaris's P/E ratio in 2024?

Accepted Answer

Polaris (PII) P/E ratio at the end of 2024 was 29.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Polaris's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$3.6B	-$466M	—	—	Dec 31, 2025
2024	$3.26B	$111M	29.4×	+18.7×	Dec 31, 2024
2023	$5.38B	$503M	10.7×	+0.8×	Dec 31, 2023
2022	$5.84B	$590M	9.9×	-3.7×	Dec 31, 2022
2021	$6.7B	$494M	13.6×	-33.8×	Dec 31, 2021
2020	$5.92B	$125M	47.4×	+28.1×	Dec 31, 2020
2019	$6.26B	$324M	19.3×	+5.3×	Dec 31, 2019
2018	$4.71B	$335M	14.0×	-31.2×	Dec 31, 2018
2017	$7.81B	$172M	45.3×	+20.7×	Dec 31, 2017
2016	$5.24B	$213M	24.6×	+12.3×	Dec 31, 2016
2015	$5.62B	$455M	12.3×	-9.8×	Dec 31, 2015
2014	$10.1B	$454M	22.2×	-3.8×	Dec 31, 2014
2013	$9.8B	$377M	26.0×	+7.4×	Dec 31, 2013
2012	$5.82B	$312M	18.6×	+1.7×	Dec 31, 2012
2011	$3.84B	$228M	16.9×	-1.2×	Dec 31, 2011
2010	$2.66B	$147M	18.1×	+4.0×	Dec 31, 2010
2009	$1.42B	$101M	14.1×	+6.2×	Dec 31, 2009
2008	$920M	$117M	7.8×	-6.6×	Dec 31, 2008
2007	$1.61B	$112M	14.4×	-1.1×	Dec 31, 2007
2006	$1.66B	$107M	15.5×	+0.5×	Dec 31, 2006
2005	$2.08B	$139M	15.0×	-17.5×	Dec 31, 2005
2004	$2.88B	$88.6M	32.5×	+15.5×	Dec 31, 2004
2003	$1.89B	$111M	17.0×	+4.8×	Dec 31, 2003
2002	$1.27B	$104M	12.2×	—	Dec 31, 2002


Avery Dennison (AVY)	19.3×
Darden Restaurants (DRI)	19.1×
Williams-Sonoma (WSM)	19.1×
Expedia Group (EXPE)	18.9×
Domino's Pizza (DPZ)	17.7×
Etsy (ETSY)	16.9×
Ball (BALL)	16.8×
Royal Caribbean Cruises (RCL)	16.6×
GameStop (GME)	15.6×
D.R. Horton (DHI)	15.3×
Norwegian Cruise Line (NCLH)	15.0×
Hasbro (HAS)	15.0×
NVR (NVR)	14.8×
LKQ (LKQ)	14.5×
Mohawk Industries (MHK)	14.3×
Deckers Outdoor (DECK)	13.8×
Lennar (LEN)	13.5×
Weyco Group (WEYS)	12.8×
Carnival Corporation (CCL)	12.4×
KB Home (KBH)	11.7×
Best Buy Co. (BBY)	11.1×
PDD Holdings (PDD)	10.7×
Toll Brothers (TOL)	10.5×
Lululemon Athletica (LULU)	10.2×
Leggett & Platt (LEG)	6.1×

P/E Ratio for Polaris (PII) 2002-2026

P/E Ratio daily chart for Polaris (PII)

Historical P/E Ratio for Polaris (PII) from 2002 to 2025

About P/E Ratio at Polaris (PII)

Polaris P/E Ratio by Year

Polaris P/E Ratio 2024: 29.4×

Polaris P/E Ratio 2023: 10.7×

Polaris P/E Ratio 2022: 9.9×

Polaris P/E Ratio 2021: 13.6×

Polaris P/E Ratio 2020: 47.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Polaris (PII) Key Financials