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Polaris Inc PII Stock Quote

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Morningstar‘s Stock Analysis PII

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Economic Moat

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Supply Chain Issues Cripple Polaris' Share Gains, but Should Be Transitory Given Strong Brand Asset

Jaime M. Katz, CFA Senior Equity Analyst

Business Strategy and Outlook

| Jaime M. Katz, CFA |

Polaris is one of the longest-operating brands in powersports. We believe that its brands, innovative products, and lean manufacturing yield the firm a wide economic moat and that it stands to capitalize on its research and development, solid quality, operational excellence, and acquisition strategy. However, Polaris' brands do not benefit from switching costs, and with peers innovating more quickly than in the past, it could jeopardize the firm's ability to take price and share consistently, particularly in periods of inflated recalls or aggressive industry discounting.

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Key Statistics PII

Company Profile PII

Business Description

Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the boat market after acquiring Boat Holdings in 2018, offering exposure to new segments of the outdoor lifestyle market. Polaris products retailed through more than 2,500 dealers in North America and through 1,500 international dealers as well as more than 30 subsidiaries and 90 distributors in more than 120 countries outside North America at the end of 2021.

Contact
2100 Highway 55
Medina, MN, 55340
T +1 763 542-0500
Industry Recreational Vehicles
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 16,000

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