Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.52B | $5.43B | $6.08B | $6.78B | $6.28B | $7.44B | $8.59B | $8.93B | $7.18B | $7.15B |
| Revenue growth | — | 20.2% | 12.0% | 11.6% | -7.4% | 18.4% | 15.5% | 4.0% | -19.7% | -0.3% |
| Gross profit | $1.11B | $1.32B | $1.50B | $1.65B | $1.54B | $1.75B | $1.96B | $1.96B | $1.47B | $1.37B |
| Gross margin | 24.5% | 24.4% | 24.7% | 24.3% | 24.4% | 23.5% | 22.8% | 21.9% | 20.4% | 19.1% |
| Operating income | $350M | $360M | $487M | $484M | $521M | $712M | $805M | $701M | $291M | -$349M |
| Operating margin | 7.8% | 6.6% | 8.0% | 7.1% | 8.3% | 9.6% | 9.4% | 7.8% | 4.0% | -4.9% |
| Net income | $213M | $172M | $335M | $324M | $125M | $494M | $447M | $503M | $111M | -$466M |
| Net margin | 4.7% | 3.2% | 5.5% | 4.8% | 2.0% | 6.6% | 5.2% | 5.6% | 1.5% | -6.5% |
| EPS (diluted) | $3.27 | $2.69 | $5.24 | $5.20 | $1.99 | $7.88 | $7.44 | $8.71 | $1.95 | -$8.18 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $590M | $585M | $477M | $655M | $1.02B | $294M | $509M | $926M | $268M | $741M |
| Capital expenditures | $209M | $184M | $225M | $251M | $204M | $283M | $307M | $413M | $262M | $183M |
| Free cash flow | $380M | $401M | $252M | $404M | $814M | $10.9M | $202M | $513M | $6.50M | $558M |
| Share buybacks | $246M | $90.5M | $349M | $8.40M | $50.3M | $462M | $505M | $179M | $82.7M | $2.40M |
| Dividends paid | $140M | $145M | $149M | $149M | $153M | $153M | $150M | $147M | $148M | $150M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $127M | $138M | $161M | $157M | $632M | $502M | $325M | $368M | $288M | $138M |
| Total assets | $3.10B | $3.09B | $4.12B | $4.43B | $4.63B | $5.05B | $5.22B | $5.52B | $5.53B | $4.89B |
| Total liabilities | $2.22B | $2.15B | $3.25B | $3.31B | $3.48B | $3.81B | $4.10B | $4.09B | $4.22B | $4.05B |
| Long-term debt | $1.11B | $883M | $1.86B | $1.60B | $1.36B | $1.73B | $1.99B | $1.86B | $2.03B | $1.51B |
| Shareholders' equity | $867M | $932M | $867M | $1.11B | $1.14B | $1.22B | $1.10B | $1.42B | $1.29B | $828M |
| Retained earnings | $300M | $243M | $121M | $287M | $218M | $157M | $33.8M | $244M | $149M | -$469M |
| Shares (wtd avg diluted) | 65.2M | 64.2M | 63.9M | 62.3M | 62.6M | 62.7M | 60.1M | 57.7M | 56.8M | 56.9M |
Every figure is extracted from Polaris Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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