PII Polaris margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 15

Gross margin

21.2%

Operating margin

-2.6%

EBITDA margin

1.4%

Net margin

-3.5%

Polaris records its operating margin is negative at -2.6%, and its net margin is negative at -3.5%, with a gross margin of 21.2%, an operating margin of -2.6%, an EBITDA margin of 1.4%, and a net margin of -3.5%. Margin expansion was strongest in gross margin, which rose by 2 percentage points. Operating margin had the strongest contraction, falling by 3.8 percentage points.

PII margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Polaris recorded average margins of 20.35% gross, 2% operating, 5.59% EBITDA, and -0.09% net. Polaris's current performance shows that gross margin is above its three-year average and operating, EBITDA, and net margins are below their three-year averages.

PII margin expansion

Year-over-year margin changes in percentage points

Gross margin expanded by 2 percentage points, while operating margin contracted by 3.8 percentage points, EBITDA margin by 3.3 percentage points, and net margin by 1.9 percentage points.

Gross margin expansion

2pp

Operating margin expansion

-3.8pp

EBITDA margin expansion

-3.3pp

Net margin expansion

-1.9pp

PII Gross margin

Over the last 3 years, Polaris's gross margin averaged 20.35%. Currently, Polaris's current gross margin is 21.2%, which is 0.9 percentage points above its three-year average. During this period, gross margin reached a high of 21.9% in Dec 2023 and a low of 19.1% in Dec 2025.

PII Operating margin

The average operating margin for Polaris was 2% during the last 3 years. Polaris currently reports an operating margin of -2.6%, 4.6 percentage points below its three-year average. The operating margin for Polaris moved between -4.9% in Dec 2025 and 7.8% in Dec 2023.

PII EBITDA margin

Over the last 3 years, the average EBITDA margin for Polaris was 5.59%. As of the latest period, Polaris's current EBITDA margin is 1.4%, which is 4.2 percentage points below its three-year average. Polaris's EBITDA margin ranged from a low of -1.6% in Dec 2025 to a high of 11.2% in Dec 2023.

PII Net margin

Across the last 3 years, Polaris had an average net margin of -0.09%. The latest net margin for Polaris is -3.5%, 3.4 percentage points below its three-year average. Looking back over the last 3 years, Polaris's net margin reached 5.6% at its highest point in Dec 2023 and -6.5% at its lowest in Dec 2025.

PII margin group comparison

Margins compared with peer-group, industry and sector averages

Polaris's gross margin of 21.2% is lower than the Consumer Cyclical sector, the industry and its peers average. In comparison with the Consumer Cyclical sector average of 36.2%, Polaris's gross margin is 41% lower.

PII margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Polaris's gross margin?

The current gross margin for PII is 21.2% as of Jun 30, 2026.

What is Polaris's operating margin?

For the period ending Jun 30, 2026, PII recorded an operating margin of -2.6%.

What is Polaris's EBITDA margin?

For the period ending Jun 30, 2026, PII recorded an EBITDA margin of 1.4%.

What is Polaris's net margin?

As of Jun 30, 2026, PII has a net margin of -3.5%.

What are the average margins of PII?

Over the last 3 years, Polaris's margins averaged 20.4% gross, 2.0% operating, 5.6% EBITDA, and -0.1% net.

What are the highest historical margins of PII?

Polaris's highest recorded margins during the past 5 years were 23.5% gross in Dec 2021, 9.6% operating in Mar 2023, 12.5% EBITDA in Jun 2023, and 6.9% net in Jun 2023.

What are the lowest historical margins of PII?

Looking back across 5 years, PII reached its lowest margins at 19.1% gross in Dec 2025, -4.9% operating in Dec 2025, -1.6% EBITDA in Dec 2025, and -6.5% net in Dec 2025.