Polaris Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Polaris Inc (PII) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Polaris Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 7,646M vs 38,675M combined for its competitors (16.5% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months), vs accelerating (+8.7%) for its tracked peer group.
- Growth: Polaris Inc generated 10.9% revenue growth year over year in Q3 2026, vs 12.5% for its competitors combined.
- Profitability: Its 1.9% net margin compares with 12.6% for the peer group.
- Scale: Polaris Inc ranks #6 of 19 companies by market capitalization in the Special Transportation Services industry, holding 3.3% of industry market cap.
- Peer revenue share: Polaris Inc accounted for 16.3% of combined revenue among its tracked peer group, down from 16.5% a year earlier.
- Peer differentiation: Revenue per employee of $0.53M compares with $0.53M for the peer group (1.0x).
- Structure: Polaris Inc operates in the following segments: Polaris Powersports, Marine, Aixam & Goupil, Corporate and Unallocated.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
PII Sales vs. its Competitors, Q3 2026
Polaris Inc reported revenue growth of 10.93 % year on year in Q3 2026, below its competitors' combined revenue growth of 12.48 %.
With a net margin of 1.88 %, Polaris Inc reported lower profitability than its competitors (12.55 %).
Polaris Inc generated 16.27 % of the combined sales of its peer group, down from 16.46 % a year earlier.
API endpoints for this dataset
Polaris Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Polaris Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Polaris Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Polaris Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Polaris Inc's competitor groups requires a Commercial License.
For context: the Special Transportation Services industry grew revenue 7.1% year over year, combined, vs 10.9% for Polaris Inc. Polaris Inc's share of combined industry revenue moved from 10.71% to 11.09%, a gain of 0.38 percentage points.
Polaris Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Polaris Inc | No | Yes | Yes | No |
| Competitors combined (7) | ||||
| High-Confidence Competitors (7) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 75.00 % (6 of 8) | 25.00 % (2 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
PII Stock Performance relative to its Competitors
PII Stock Performance relative to High-Confidence Competitors
PII Stock Performance relative to Similar-Size Competitors
PII Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Marinemax Inc | 282.9% | Outperformed |
| 2 | Harley davidson Inc | 282.9% | Outperformed |
| 3 | Textron Inc | 282.9% | Outperformed |
| 4 | Trane Technologies Plc | 282.9% | Outperformed |
| 5 | Nextnav Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Polaris Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Polaris Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Polaris Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Polaris Inc |
3,689.60 | 7,646.40 |
 Trane Technologies Plc |
88,949.66 | 23,227.10 |
 Textron Inc |
14,413.32 | 15,448.00 |
 Harley davidson Inc |
3,545.83 | 4,239.84 |
 Marinemax Inc |
1,220.42 | 2,196.46 |
 Nextnav Inc |
1,219.43 | 3.98 |
| SUBTOTAL | 113,038.26 | 60,843.79 |
Sign in to see all competitors of Polaris Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Polaris Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Polaris Inc's Competitors Named by the Company
Competitive relationships identified from Polaris Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| AYRO | Company report | 85% |
| Bennington | Company report | 85% |
| Waton Financial Limited | Company report | 85% |
| Godfrey | Company report | 85% |
| Hurricane | Company report | 85% |
| Fabric ai Inc | Company report | 85% |
| Empery Digital Inc | Company report | 85% |
| SBLX | Company report | 85% |
| VLCN | Company report | 85% |
| Slingshot | Company report | 85% |
| Rafael Holdings Inc | Company report | 85% |
| Bottomline Technologies Inc | Company report | 85% |
| Ingersoll Rand Inc | Company report | 85% |
| TAP | Company report | 85% |
| Vbi Vaccines Inc | Company report | 85% |
| Nextnav Inc | Company report | 85% |
| Textron Inc | Company report | 85% |
| Kandi Technologies Group Inc | Company report | 85% |
| Harley davidson Inc | Company report | 85% |
| Onewater Marine Inc | Company report | 85% |
| Camping World Holdings Inc | Company report | 85% |
| Marinemax Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Polaris Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Polaris Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Polaris Inc | Polaris Powersports 89.20 % |
| Textron Inc | Textron Aviation 44.79 % |
| Harley davidson Inc | HDMC 89.04 % |
| Marinemax Inc | Retail Operations 99.65 % |
| Onewater Marine Inc | Dealership 94.47 % |
| Camping World Holdings Inc | RV and Outdoor Retail 97.25 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Polaris Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Polaris Inc | 3,690 | 527,338 | -14,186 |
| Trane Technologies Plc | 88,950 | 527,889 | 72,055 |
| Textron Inc | 14,413 | 454,353 | 28,618 |
| Harley davidson Inc | 3,546 | 770,879 | 35,585 |
| Marinemax Inc | 1,220 | 648,879 | 1,405 |
| Nextnav Inc | 1,219 | 38,612 | -1,085,971 |
| PEERS TOTAL | 109,349 | 528,559 | 39,631 |
Polaris Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Polaris Inc | EMEA 0.00 % |
| Trane Technologies Plc | Americas 83.55 % |
| Textron Inc | United States 70.17 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Polaris Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 18 companies in Polaris Inc's industry classification, broader than the peer set above. Market cap in millions of $.Polaris Inc ranks #6 of 18 companies by market capitalization in its industry, holding 3.28 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 5,171, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Southeast Airport Group | 79,143 | 70.52 % |
| 2 | Pacific Airport Group | 12,804 | 11.41 % |
| 3 | Central North Airport Group | 5,294 | 4.72 % |
| 4 | Brp Inc | 5,081 | 4.53 % |
| 5 | Corporaci n Am rica Airports S a | 1,234 | 5.2% |
| 6 | Polaris Inc | 3,677 | 3.28 % |
| 7 | Bristow Group Inc | 1,234 | 5.2% |
| 8 | Ads Tec Energy Public Ltd Co | 1,234 | 5.2% |
| 9 | Chargepoint Holdings Inc | 1,234 | 5.2% |
| 10 | Wheels Up Experience Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Polaris Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Polaris Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Southeast Airport Group | 79,143 | -14.68 % |
| 2 | Pacific Airport Group | 12,804 | 12.67 % |
| 3 | Central North Airport Group | 5,294 | 1.61 % |
| 4 | Brp Inc | 5,081 | 2.42 % |
| 5 | Corporaci n Am rica Airports S a | 1,234 | 12.3% |
| 6 | Polaris Inc | 3,677 | -3.19 % |
| 7 | Bristow Group Inc | 1,234 | 12.3% |
| 8 | Ads Tec Energy Public Ltd Co | 1,234 | 12.3% |
| 9 | Chargepoint Holdings Inc | 1,234 | 12.3% |
| 10 | Wheels Up Experience Inc | 1,234 | 12.3% |
| 11 | Blink Charging Co | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Polaris Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Polaris Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Special Transportation Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (23 companies). See the full Special Transportation Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 21.31 % | 16.88 % (avg) | +4.4 pp |
| Operating Margin | -1.79 % | industry median | - |
| EBITDA Margin | 1.63 % | -7.93 % (avg) | +9.6 pp |
| Capital Intensity (Capex / Revenue) | 2.68 % | 13.13 % (avg) | -10.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Polaris Inc's Valuation vs Competitive Position
Valuation multiples vs the Special Transportation Services industry average (23 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Special Transportation Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 10.9x | - |
| EV / EBITDA | 50.0x | 14.0x | +35.9x |
| P/B | 4.6x | 3.4x | +1.2x |
| Return on Equity | -25.10 % | industry aggregate | 0.00 % |
| Return on Invested Capital | -2.88 % | -4.39 % (avg) | 1.51 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Polaris Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 12.41 % | 11.15 % | 3.62 % | 16.65 % | 4.77 % | 4.02 % | -19.69 % | -0.32 % |
| Operating Margin | 8.08 % | 7.13 % | 3.02 % | 8.65 % | 9.37 % | 7.25 % | 4.05 % | -4.88 % |
| Return on Invested Capital | 14.46 % | 12.07 % | 5.74 % | 17.92 % | 20.29 % | 12.83 % | 5.94 % | -7.42 % |
| P/E | 16.0x | 18.9x | 54.3x | 14.5x | 14.1x | 10.5x | 34.6x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Polaris Inc's Strategic Group Map
Polaris Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Polaris Inc's trailing-12-month revenue growth of 9.5% and operating margin of -1.8% compares with an average of 2.9% growth and 1.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Polaris Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Polaris Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Polaris Inc falls in the Dog quadrant: relative market share of 0.05x vs its largest competitor, in an industry growing revenue 5.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Southeast Airport Group alone holds 71% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Polaris Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 5,171 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 2.68 % vs industry average 13.13 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Polaris Inc's dedicated Suppliers and Customers pages, not here.
Polaris Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Polaris Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Polaris Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.05x).
Opportunities
No rule matched.
Threats
- Industry dominated by Southeast Airport Group, holding 70.52 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Polaris Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Polaris Inc | 0.12 | 1.11 | 3.29 |
| Trane Technologies Plc | 0.06 | 1.13 | 0.52 |
| Textron Inc | 0.72 | 2.82 | 0.12 |
| Harley davidson Inc | 0.80 | 2.14 | 0.97 |
| Marinemax Inc | 0.18 | 1.20 | 1.11 |
| Nextnav Inc | 7.40 | 14.67 | 5.66 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Polaris Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Polaris Inc | Q3 2026 | +10.9 % | - |
| Trane Technologies Plc | Q3 2026 | +17.7 % | +23.3 % |
| Textron Inc | Q3 2026 | +4.1 % | +15.4 % |
| Harley davidson Inc | Q2 2026 | -5.9 % | -25.3 % |
| Marinemax Inc | Q2 2026 | -6.9 % | - |
| Nextnav Inc | Q2 2026 | -4.3 % | - |
| PEERS TOTAL | +7.5 % | +30.6 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Polaris Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Polaris Inc | Q3 2026 | +10.2 % | +58.0 % |
| Trane Technologies Plc | Q3 2026 | +20.7 % | +58.0 % |
| Textron Inc | Q3 2026 | +253.2 % | +34.2 % |
| Harley davidson Inc | Q2 2026 | +797.6 % | -63.7 % |
| Marinemax Inc | Q2 2026 | -14.0 % | -51.2 % |
| Nextnav Inc | Q2 2026 | +1.0 % | +54.0 % |
Polaris Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Polaris Inc | - | - | - |
| Trane Technologies Plc | 13.79% | 19.71% | 36.24% |
| Textron Inc | 5.35% | 6.11% | 12.14% |
| Harley davidson Inc | 2.36% | 3.72% | 6.06% |
| Marinemax Inc | 0.20% | 0.32% | 0.50% |
| Nextnav Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Polaris Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Polaris Inc | - | 0.48 |
| Trane Technologies Plc | 37.17 | 3.83 |
| Textron Inc | 15.11 | 0.93 |
| Harley davidson Inc | 18.04 | 0.84 |
| Marinemax Inc | 375.50 | 0.56 |
| Nextnav Inc | - | 306.62 |
| PEERS AVERAGE | 29.88 | 1.86 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.