Polaris (PII) Gross Margin (2009 - 2025)
Polaris (PII) posted quarterly Gross Margin of 19.99% for Q4 2025, down 40.0% year-over-year from 33.32% in Q4 2024, and down 3.2% quarter-over-quarter from 20.65% in Q3 2025.
Polaris (PII) Gross Margin (2009 - 2025) Analysis & Trends
Polaris (PII) has reported Gross Margin for 17 consecutive years, with 19.99% the latest figure, recorded in Q4 2025.
- In Q4 2025, Gross Margin fell 40.0% year-over-year to 19.99%; the TTM figure through Dec 2025 stood at 19.14% (down 130.0% YoY), while the FY2025 annual figure was 19.14%, down 130.0% from the prior year.
- Gross Margin retreated to 19.99% in Q4 2025 per PII's latest filing, from 20.65% in the prior quarter.
- Across five years, Gross Margin topped out at 26.03% in Q2 2021 and bottomed at 15.95% in Q1 2025.
- Historically, Gross Margin has averaged 21.52% across 5 years, with a median of 21.18% in 2023.
- On a YoY basis, Gross Margin climbed as much as 402 bps in 2021 and fell as far as 648 bps in 2021.
- Polaris' Gross Margin stood at 20.16% in 2021, then climbed by 18 bps to 23.83% in 2022, then decreased by 13 bps to 20.83% in 2023, then slipped by 2 bps to 20.39% in 2024, then slipped by 2 bps to 19.99% in 2025.
- Business Quant data shows PII's Gross Margin at 19.99% in Q4 2025, 20.65% in Q3 2025, and 19.39% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brp | 4.88 Bn | 4.32 Bn | 409.69 Mn | 23.48% |
| 2 | Thor Industries | 4.07 Bn | 3.70 Bn | 354.77 Mn | 12.75% |
| 3 | Polaris | 3.68 Bn | 3.38 Bn | - | - |
| 4 | Harley-Davidson | 2.87 Bn | 979.19 Mn | 421.12 Mn | 34.23% |
| 5 | Patrick Industries | 2.69 Bn | 2.66 Bn | 247.58 Mn | 23.77% |
| 6 | Lci Industries | 2.53 Bn | 2.31 Bn | 301.14 Mn | 31.09% |
| 7 | Brunswick | 1.55 Bn | 1.24 Bn | 437.80 Mn | 28.10% |
| 8 | Winnebago Industries | 904.19 Mn | 847.09 Mn | 94.90 Mn | 13.58% |
| 9 | Malibu Boats | 546.46 Mn | 496.30 Mn | 41.28 Mn | 17.51% |
| 10 | MasterCraft Boat Holdings | 400.50 Mn | 315.88 Mn | 19.54 Mn | 24.99% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 19.99% |
| Sep 30, 2025 | 20.65% |
| Jun 30, 2025 | 19.39% |
| Mar 31, 2025 | 15.95% |
| Dec 31, 2024 | 20.39% |
| Sep 30, 2024 | 20.59% |
| Jun 30, 2024 | 21.62% |
| Mar 31, 2024 | 19.02% |
| Dec 31, 2023 | 20.83% |
| Sep 30, 2023 | 22.62% |
| Jun 30, 2023 | 22.78% |
| Mar 31, 2023 | 21.53% |
| Dec 31, 2022 | 23.83% |
| Sep 30, 2022 | 23.89% |
| Jun 30, 2022 | 23.00% |
| Mar 31, 2022 | 19.81% |
| Dec 31, 2021 | 20.16% |
| Sep 30, 2021 | 23.63% |
| Jun 30, 2021 | 26.03% |
| Mar 31, 2021 | 24.63% |