PII Polaris Inc.

FY2025 10-K
Filed: Feb 13, 2026
Industrials
Miscellaneous Transportation EquipmentSEC EDGAR

Polaris Inc. (PII) filed its fiscal year 2025 10-K annual report with the SEC on Feb 13, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • Core business model: Manufacturer and seller of powersports vehicles and related products
  • New 2025 Deferred Tax Asset Valuation Allowance increased sharply to $55.4 million from $21.4 million in 2024
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Management Discussion & Analysis

  • Revenue $7.15B, flat YoY vs $7.18B in 2024; 3% volume decline offset by 3% price/mix increase
  • Gross profit $1.37B down 7%, margin 19.1% vs 20.4% in 2024; operating loss $(348.7)M vs income $290.6M
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Risk Factors

  • Regulatory risk: Increased restrictions on per-and polyfluoroalkyl substances (PFAS) may disrupt supply chain, impacting product costs and availability
  • Geopolitical risk: Tariffs on imports to U.S. from certain countries increase supply chain challenges; manufacturing partly in Mexico exposes sales to tariff impacts
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Financial Summary
XBRL

Revenue

$7.2B

Net Income

-$466M

Gross Margin

19.1%

Operating Margin

-4.9%

Net Margin

-6.5%

ROE

-56.2%

Total Assets

$4.9B

EPS (Diluted)

$-8.18

Operating Cash Flow

$741M

Source: XBRL data from Polaris Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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