Polaris vs Thor Industries
Thor Industries reported revenue of $9.6 billion in fiscal 2026, 1.3 times Polaris' $7.2 billion in fiscal 2025. Polaris' revenue fell 0.3% in its latest year, and Thor Industries' grew 0.3%. Free cash flow was $558 million at Polaris and $169 million at Thor Industries. Their fiscal years end in different months (December 31 and July 31), so the periods don't line up exactly.
Side by side
| Polaris | Thor Industries | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jul 31, 2026 |
| Revenue | $7.2B | $9.6B |
| Revenue growth | −0.3% | 0.3% |
| Revenue growth a year, last 5 years | 2.6% | −4.8% |
| Gross margin | 19.1% | 12.6% |
| Operating margin | −4.9% | — |
| Net margin | −6.5% | 1.9% |
| Free cash flow | $558M | $169M |
| Free cash flow margin | 7.8% | 1.8% |
| Return on capital | −10.5% | 4.4% |
| Net debt to EBITDA | — | 0.8x |
| Dividends and buybacks | $153M | $224M |
| Change in diluted share count | 0.2% | −1.6% |
| Last close | $55.15 | $70.17 |
| P/E at the last close | — | 20.8× |
| Insider trades, last 12 months | sold $4.2 million | bought $229,450, sold $702,866 |
| Piotroski F-score | 3 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
PolarisThor Industries
Operating margin
Percent of revenue
PolarisThor Industries
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
PolarisThor Industries
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Polaris and Thor Industries pages.