Polaris (PII) Operating Expenses (2009 - 2025)
Polaris (PII) posted Operating Expenses of $724 million for Q4 2025, up 127.5% from $318.2 million a year earlier and up 90.7% from the prior quarter.
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Analysis
Polaris (PII) Operating Expenses (2009 - 2025) Analysis & Trends
For FY2025, Polaris' Operating Expenses came in at $1.8 billion, up 41.4% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 10.5% (FY2020 to FY2025).
- In prior years, Polaris' Operating Expenses was $1.27 billion in FY2024 (-4.9%), $1.34 billion in FY2023 (+11.3%), $1.2 billion in FY2022 (+10.1%) and $1.09 billion in FY2021 (-0.2%).
- The Q4 2025 figure stands as the highest quarterly Operating Expenses in data going back to Q2 2009.
- On a year-over-year basis, Operating Expenses has increased in each of the last three quarters, with growth averaging 18.3% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2025, with growth of 127.5%; the weakest was Q2 2021, with a decline of 54.0%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $379.6 million (Q3 2025), $394.9 million (Q2 2025) and $303.2 million (Q1 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,142.14 Bn | 976.70 Bn | 4.75 Bn | 4.35 Bn |
| 2 | Toyota Motor | 240.48 Bn | -166.26 Bn | 20.95 Bn | 78.18 Bn |
| 3 | Ferrari | 149.20 Bn | 141.65 Bn | 1.18 Bn | 471.42 Mn |
| 4 | Honda Motor | 145.55 Bn | 12.93 Bn | 8.46 Bn | -34.70 Bn |
| 5 | General Motors | 70.62 Bn | -34.25 Bn | 7.33 Bn | 46.57 Bn |
| 6 | Ford Motor | 48.18 Bn | -94.29 Bn | 6.08 Bn | 47.66 Bn |
| 7 | Rivian Automotive | 20.39 Bn | -2.90 Bn | 179.00 Mn | 1.02 Bn |
| 8 | Magna International | 18.08 Bn | 15.64 Bn | 1.61 Bn | 273.20 Mn |
| 9 | Stellantis | 12.84 Bn | -153.16 Bn | 5.55 Bn | 4.85 Bn |
| 10 | Polaris | 2.99 Bn | 1.94 Bn | - | - |
Historic Data
Download Data
Historic 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 |
API Access
Polaris Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PII&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PII", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PII&period=max&api_key=YOUR_API_KEY");
const data = await res.json();