Barrons·Oct 29, 2026
Night of the Living Tariff Refund: Why Polaris Stock Refuses to DieInvestors can't forget about Trump's IEEPA tariffs. They continue to impact results—this time through refunds.
Polaris shows an accelerating top-line trajectory, with revenue growth swinging from -23.4% in 2024Q3 to +10.9% in 2026Q3 and gross margin recovering from a 15.0% trough in 2025Q1 to 23.6% in 2026Q2, suggesting volume normalization and moderated promotion intensity may be restoring operating leverage.
Price trend, volume and key moving averages
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 27, 2026 | $1.08+82.1% vs $0.59 | $2.0B+7.2% vs $1.9B |
Q3 2026 Jul 28, 2026 | $1.97+172.9% vs $0.72 | $2.0B+4.5% vs $1.9B |
Q2 2026 Apr 27, 2026 | $0.13+130.2% vs -$0.43 | $1.7B+1.9% vs $1.6B |
Q1 2026 Jan 27, 2026 | $0.08+33.3% vs $0.06 | $1.9B+5.9% vs $1.8B |
Investors can't forget about Trump's IEEPA tariffs. They continue to impact results—this time through refunds.
Polaris put out a strong Q3 that included a beat on both the top and bottom lines, as well as raised guidance. Shares bumped higher immediately following the release, though are still down about 7% on a YTD basis. Quarterly sales were driven higher in part by Marine sales, which were up 29% YOY, with a 43 basis point increase in gross margins.
Polaris executives say data centers and defense budgets now drive more than half of their sales, but the numbers behind that claim deserve a closer look before investors take it at face value.
Polaris raised EPS guidance for the second quarter in a row. Utility vehicles for work generate over half of Polaris' sales.
Benchmark PII against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Polaris Inc. (PII)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $63.07 | $3.59B | -17.89 | -0.33% | -2.7% | -25.11% | 4.19% | |
| $32.66 | $3.44B | -26.22 | -13.76% | -3.44% | -4.28% | 2.18% | |
| $17.80 | $746.46M | -1.84 | 5.27% | -28.58% | -63.72% | — | |
| $20.22 | $397.06M | 48.27 | 13.25% | 0.86% | 1.6% | — | |
| $77.23 | $5.02B | 23.82 | 2.4% | 3.69% | 12.95% | 2.22% | |
| $64.72 | $4.6B | 59.77 | 7.83% | 1.19% | 19.99% | 0.93% |
Polaris Inc. (PII) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Polaris Inc. (PII) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 27, 2026·SEC
Jul 28, 2026·SEC
Jun 22, 2026·SEC
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Polaris Inc. (PII) stock FAQ — growth, dividends, profitability & financials explained
Polaris Inc. (PII) reported $7.65B in revenue over the trailing twelve months. Revenue was $7.15B in fiscal year 2025. That is 500% more than the $1.19B of fiscal year 1996.
Polaris Inc. (PII) grew revenue by 9.5% over the trailing twelve months, compared with the twelve months before.
No. Polaris Inc. (PII) reported a net loss of $206.2M over the trailing twelve months.
Yes. Polaris Inc. (PII) pays a dividend that yields 4.19% at the current price, a high yield.
Polaris Inc. (PII) had a return on equity (ROE) of -25.1% over the trailing twelve months. A negative ROE means the company lost money over the period.
Polaris Inc. (PII) generated $265.5M in free cash flow over the trailing twelve months.
