Growth Metrics

Polaris (PII) Operating Expenses (2009 - 2025)

Polaris (PII) reported Operating Expenses of $724.0 million for Q4 2025, up 127.53% year-over-year from $318.2 million in Q4 2024, and up 90.73% on a QoQ basis from $379.6 million in Q3 2025.

Polaris (PII) has 17 years of Operating Expenses data on file, last reported at $724.0 million in Q4 2025.

  • Quarterly Operating Expenses rose 127.53% year-over-year to $724.0 million in Q4 2025, while the trailing twelve-month figure through Mar 2026 was $1.5 billion (up 18.57% YoY) and the FY2025 annual result came in at $1.8 billion, up 41.44% from the prior year.
  • Operating Expenses improved to $724.0 million in Q4 2025 per PII's latest filing, from $379.6 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $724.0 million in Q4 2025 and bottomed at $254.4 million in Q4 2021.
  • The 5-year median for Operating Expenses is $317.6 million (2022), against an average of $337.9 million.
  • Peak annual rise in Operating Expenses reached 242.28% in 2021, while the deepest fall reached 54.03% in 2021.
  • Tracing PII's Operating Expenses over 5 years: stood at $254.4 million in 2021, then jumped by 30.03% to $330.8 million in 2022, then increased by 7.83% to $356.7 million in 2023, then dropped by 10.79% to $318.2 million in 2024, then soared by 127.53% to $724.0 million in 2025.
  • Per Business Quant, the three latest PII Operating Expenses figures stand at $724.0 million (Q4 2025), $379.6 million (Q3 2025), and $394.9 million (Q2 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Brunswick 5.48 Bn 5.20 Bn 343.60 Mn 291.80 Mn
2 Thor Industries 4.17 Bn 3.93 Bn 251.25 Mn 212.02 Mn
3 Polaris 4.05 Bn 3.77 Bn - -
4 Brp 3.05 Bn 2.70 Bn 398.91 Mn 389.90 Mn
5 Patrick Industries 2.94 Bn 2.90 Bn 226.86 Mn 162.14 Mn
6 Harley-Davidson 2.66 Bn 2.68 Bn 266.45 Mn 1.15 Bn
7 Lci Industries 2.64 Bn 2.50 Bn 273.67 Mn 122.62 Mn
8 Winnebago Industries 837.26 Mn 789.86 Mn 85.60 Mn 73.80 Mn
9 Malibu Boats 526.29 Mn 480.05 Mn 41.28 Mn 31.76 Mn
10 MasterCraft Boat Holdings 376.07 Mn 291.65 Mn 19.54 Mn 20.84 Mn

Historic Data

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DateValue
Dec 31, 2025 724.00 Mn
Sep 30, 2025 379.60 Mn
Jun 30, 2025 394.90 Mn
Mar 31, 2025 303.20 Mn
Dec 31, 2024 318.20 Mn
Sep 30, 2024 312.60 Mn
Jun 30, 2024 329.80 Mn
Mar 31, 2024 313.20 Mn
Dec 31, 2023 356.70 Mn
Sep 30, 2023 328.20 Mn
Jun 30, 2023 329.60 Mn
Mar 31, 2023 324.90 Mn
Dec 31, 2022 330.80 Mn
Sep 30, 2022 317.00 Mn
Jun 30, 2022 291.50 Mn
Mar 31, 2022 264.10 Mn
Dec 31, 2021 254.40 Mn
Sep 30, 2021 273.10 Mn
Jun 30, 2021 300.40 Mn
Mar 31, 2021 312.50 Mn
Dec 31, 2020 -178.80 Mn
Sep 30, 2020 313.30 Mn
Jun 30, 2020 653.50 Mn
Mar 31, 2020 307.10 Mn
Dec 31, 2019 307.70 Mn
Sep 30, 2019 327.90 Mn
Jun 30, 2019 321.10 Mn
Mar 31, 2019 289.30 Mn
Dec 31, 2018 271.76 Mn
Sep 30, 2018 283.75 Mn
Jun 30, 2018 284.06 Mn
Mar 31, 2018 261.63 Mn
Dec 31, 2017 263.93 Mn
Sep 30, 2017 265.19 Mn
Jun 30, 2017 270.35 Mn
Mar 31, 2017 241.83 Mn
Sep 30, 2016 222.58 Mn
Jun 30, 2016 187.97 Mn
Mar 31, 2016 189.93 Mn
Dec 31, 2015 169.07 Mn
Sep 30, 2015 192.01 Mn
Jun 30, 2015 173.04 Mn
Mar 31, 2015 158.09 Mn
Dec 31, 2014 176.93 Mn
Sep 30, 2014 182.75 Mn
Jun 30, 2014 164.10 Mn
Mar 31, 2014 142.38 Mn
Dec 31, 2013 160.66 Mn
Sep 30, 2013 165.16 Mn
Jun 30, 2013 138.29 Mn
Mar 31, 2013 124.75 Mn
Dec 31, 2012 129.22 Mn
Sep 30, 2012 126.45 Mn
Jun 30, 2012 114.53 Mn
Mar 31, 2012 110.60 Mn
Dec 31, 2011 118.13 Mn
Sep 30, 2011 102.87 Mn
Jun 30, 2011 106.21 Mn
Mar 31, 2011 87.54 Mn
Dec 31, 2010 97.59 Mn
Sep 30, 2010 87.14 Mn
Jun 30, 2010 74.39 Mn
Mar 31, 2010 67.23 Mn
Dec 31, 2009 63.93 Mn
Sep 30, 2009 63.19 Mn
Jun 30, 2009 60.16 Mn