Polaris (PII) Operating Expenses (2009 - 2025)
Polaris (PII) posted quarterly 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% quarter-over-quarter from $379.6 million in Q3 2025.
Polaris (PII) Operating Expenses (2009 - 2025) Analysis & Trends
Polaris (PII) has reported Operating Expenses for 17 consecutive years, with $724.0 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Expenses rose 127.53% year-over-year to $724.0 million; the TTM figure through Jun 2026 stood at $1.1 billion (down 16.95% YoY), while the FY2025 annual figure was $1.8 billion, up 41.44% from the prior year.
- Operating Expenses grew 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.
- Historically, Operating Expenses has averaged $337.9 million across 5 years, with a median of $317.6 million in 2022.
- On a YoY basis, Operating Expenses climbed as much as 242.28% in 2021 and fell as far as 54.03% in 2021.
- Polaris' Operating Expenses stood at $254.4 million in 2021, then jumped by 30.03% to $330.8 million in 2022, then advanced by 7.83% to $356.7 million in 2023, then retreated by 10.79% to $318.2 million in 2024, then soared by 127.53% to $724.0 million in 2025.
- Business Quant data shows PII's Operating Expenses at $724.0 million in Q4 2025, $379.6 million in Q3 2025, and $394.9 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Brp | 4.88 Bn | 4.32 Bn | 409.69 Mn | 245.19 Mn |
| 2 | Thor Industries | 4.07 Bn | 3.70 Bn | 354.77 Mn | 230.93 Mn |
| 3 | Polaris | 3.67 Bn | 3.37 Bn | - | - |
| 4 | Harley-Davidson | 2.87 Bn | 975.52 Mn | 421.12 Mn | 1.15 Bn |
| 5 | Patrick Industries | 2.70 Bn | 2.67 Bn | 247.58 Mn | 170.54 Mn |
| 6 | Lci Industries | 2.54 Bn | 2.32 Bn | 301.14 Mn | 143.84 Mn |
| 7 | Brunswick | 1.55 Bn | 1.24 Bn | 437.80 Mn | 308.40 Mn |
| 8 | Winnebago Industries | 905.60 Mn | 848.50 Mn | 94.90 Mn | 71.90 Mn |
| 9 | Malibu Boats | 544.56 Mn | 494.39 Mn | 41.28 Mn | 40.11 Mn |
| 10 | MasterCraft Boat Holdings | 399.85 Mn | 315.23 Mn | 19.54 Mn | 20.84 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |