Polaris (PII) Operating Expenses (2009 - 2025)
Polaris' (PII) quarterly Operating Expenses came in at $724.0 million in 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.
Analysis
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.
- On a quarterly basis, Operating Expenses rose 127.53% year-over-year to $724.0 million in Q4 2025; TTM through Dec 2025 was $1.8 billion, a 41.44% increase from a year earlier, with the FY2025 full-year figure at $1.8 billion, up 41.44% from the prior year.
- Operating Expenses was $724.0 million for Q4 2025 at Polaris, up from $379.6 million in the prior quarter.
- Over five years, Operating Expenses peaked at $724.0 million in Q4 2025 and troughed at $254.4 million in Q4 2021.
- A 5-year average of $337.9 million and a median of $317.6 million in 2022 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 242.28% in 2021, down 54.03% in 2021.
- Over 5 years, Operating Expenses stood at $254.4 million in 2021, then surged by 30.03% to $330.8 million in 2022, then rose by 7.83% to $356.7 million in 2023, then declined by 10.79% to $318.2 million in 2024, then jumped by 127.53% to $724.0 million in 2025.
- The last three Operating Expenses figures came in at $724.0 million (Q4 2025), $379.6 million (Q3 2025), and $394.9 million (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Thor Industries | 3.80 Bn | 3.43 Bn | 354.77 Mn | 230.93 Mn |
| 2 | Polaris | 3.44 Bn | 3.13 Bn | - | - |
| 3 | Harley-Davidson | 2.80 Bn | 906.15 Mn | 421.12 Mn | 1.15 Bn |
| 4 | Brunswick | 1.59 Bn | 1.28 Bn | 437.80 Mn | 308.40 Mn |
| 5 | Winnebago Industries | 819.00 Mn | 761.90 Mn | 94.90 Mn | 71.90 Mn |
| 6 | Malibu Boats | 499.99 Mn | 425.57 Mn | 52.19 Mn | 38.55 Mn |
| 7 | MasterCraft Boat Holdings | 370.08 Mn | 285.46 Mn | 19.54 Mn | 20.84 Mn |
| 8 | Niu Technologies | 164.51 Mn | -30.62 Mn | 33.95 Mn | -50.21 Mn |
| 9 | Massimo | 41.22 Mn | 36.59 Mn | 7.28 Mn | 5.62 Mn |
| 10 | Gogoro | 39.10 Mn | -29.74 Mn | 15.96 Mn | 19.05 Mn |
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 |