Polaris (PII) Research & Development (2009 - 2025)
Polaris (PII) posted quarterly Research & Development of $136.1 million for Q4 2025, up 19.6% year-over-year from $113.8 million in Q4 2024, and up 7.42% quarter-over-quarter from $126.7 million in Q3 2025.
Polaris (PII) Research & Development (2009 - 2025) Analysis & Trends
Polaris (PII) has reported Research & Development for 17 consecutive years, with $136.1 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Research & Development rose 19.6% year-over-year to $136.1 million; the TTM figure through Dec 2025 stood at $505.0 million (up 0.92% YoY), while the FY2025 annual figure was $505.0 million, up 0.92% from the prior year.
- Research & Development grew to $136.1 million in Q4 2025 per PII's latest filing, from $126.7 million in the prior quarter.
- Across five years, Research & Development topped out at $145.9 million in Q1 2021 and bottomed at $109.8 million in Q4 2021.
- Historically, Research & Development has averaged $125.9 million across 5 years, with a median of $126.6 million in 2024.
- Annual changes were most pronounced in 2021 — Research & Development soared 348.16% — and 2022, when it slipped 23.51%.
- Polaris' Research & Development stood at $109.8 million in 2021, then gained by 21.13% to $133.0 million in 2022, then dropped by 4.51% to $127.0 million in 2023, then dropped by 10.39% to $113.8 million in 2024, then rose by 19.6% to $136.1 million in 2025.
- Business Quant data shows PII's Research & Development at $136.1 million in Q4 2025, $126.7 million in Q3 2025, and $124.6 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Brp | 4.88 Bn | 4.32 Bn | 409.69 Mn | 86.67 Mn |
| 2 | Thor Industries | 4.11 Bn | 3.74 Bn | 354.77 Mn | - |
| 3 | Polaris | 3.71 Bn | 3.41 Bn | - | - |
| 4 | Harley-Davidson | 2.89 Bn | 992.33 Mn | 421.12 Mn | - |
| 5 | Patrick Industries | 2.73 Bn | 2.70 Bn | 247.58 Mn | - |
| 6 | Lci Industries | 2.57 Bn | 2.36 Bn | 301.14 Mn | - |
| 7 | Brunswick | 1.55 Bn | 1.24 Bn | 437.80 Mn | 50.40 Mn |
| 8 | Winnebago Industries | 913.11 Mn | 856.01 Mn | 94.90 Mn | - |
| 9 | Malibu Boats | 548.56 Mn | 498.39 Mn | 41.28 Mn | 8.35 Mn |
| 10 | MasterCraft Boat Holdings | 395.82 Mn | 311.20 Mn | 19.54 Mn | 3.36 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 136.10 Mn |
| Sep 30, 2025 | 126.70 Mn |
| Jun 30, 2025 | 124.60 Mn |
| Mar 31, 2025 | 117.60 Mn |
| Dec 31, 2024 | 113.80 Mn |
| Sep 30, 2024 | 127.60 Mn |
| Jun 30, 2024 | 132.60 Mn |
| Mar 31, 2024 | 126.40 Mn |
| Dec 31, 2023 | 127.00 Mn |
| Sep 30, 2023 | 145.10 Mn |
| Jun 30, 2023 | 132.60 Mn |
| Mar 31, 2023 | 137.60 Mn |
| Dec 31, 2022 | 133.00 Mn |
| Sep 30, 2022 | 120.70 Mn |
| Jun 30, 2022 | 115.50 Mn |
| Mar 31, 2022 | 111.60 Mn |
| Dec 31, 2021 | 109.80 Mn |
| Sep 30, 2021 | 112.00 Mn |
| Jun 30, 2021 | 121.20 Mn |
| Mar 31, 2021 | 145.90 Mn |