How does Polaris (PII) make money?

Polaris (PII) generates revenue primarily from Wholegoods, which accounted for 73.8% of total revenue in TTM through Q1 2026. The company reported $7.27B in revenue and converted -6.1% of it into net profit, equivalent to roughly −$446.10M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Polaris (PII)?

Polaris (PII) reported a gross profit margin of 19.6% in TTM through Q1 2026, equivalent to $1.43B in gross profit on $7.27B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Polaris (PII)?

Polaris (PII) reported an operating profit margin of -0.5% in TTM through Q1 2026, equivalent to −$34.70M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Polaris (PII)?

Polaris (PII) reported a net profit margin of -6.1% in TTM through Q1 2026, equivalent to −$446.10M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Polaris (PII) profitable?

Polaris (PII) reported a net loss of $446.10M for TTM through Q1 2026, a net profit margin of -6.1%. Combined operating expenses, interest, and income taxes exceeded revenue, so the period closed in the red on a reported basis.

How much does Polaris (PII) invest in research and development?

Polaris (PII) invested $371.30M in research and development during TTM through Q1 2026, roughly 5.1% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Polaris (PII) spend on capital expenditures?

Polaris (PII) spent $177.00M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 2.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Polaris (PII) generate?

Polaris (PII) generated $160.60M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 2.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of Polaris (PII)?

Polaris (PII) reports revenue across 2 reportable product segments, led by Wholegoods at 73.8% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Polaris (PII) generate most of its revenue?

UNITED STATES is the largest geographic market for Polaris (PII), accounting for 79.8% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Polaris Makes Money: 2026 Visual Revenue Map

Polaris (PII) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 28, 2026).

Polaris (PII) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Polaris (PII) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Wholegoods	$5.37B	73.8%
PG&A	$1.91B	26.2%
Total	$7.27B	100%

Wholegoods$5.37B
PG&A$1.91B
Total$7.27B

Polaris (PII) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Polaris (PII), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$5.77B	79.8%
EMEA	$768.20M	10.6%
CANADA	$412.50M	5.7%
APLA	$281.50M	3.9%
Total	$7.23B	100%

UNITED STATES
EMEA
CANADA
APLA
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Polaris (PII) reports revenue across 2 operating segments; the largest segment was Wholegoods at 73.8%, followed by PG&A (26.2%). Separately, by end-market geography, UNITED STATES accounted for 79.8% of revenue, followed by EMEA (10.6%) and CANADA (5.7%).

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