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Polaris Industries (NYSE: PII) | Company Profile, History, Competitors

Polaris Industries (NYSE: PII) designs, manufacturers and sells off-road vehicles, snowmobiles, motorcycles and other off-highway vehicles. It was founded in 1954 and headquartered in Medina, MN.

Polaris was founded in 1954. it is a global designer and manufacturer of off-road vehicles, including all-terrain vehicles (ATVs) and side-by-side vehicles (SBS), snowmobiles, and on-road motorcycles.Polaris sells its products globally through a network of distributors and approximately 3,500 independent dealers.

Business Segments

Polaris operates in four main segments:
  • Off-Road Vehicles/Snowmobiles (66% of 2017 Revenues): Polaris is the number 1 player in the off-road vehicle market in North America. [1]
  • On-Road Vehicles/Motorcycles (11% of 2017 Revenues): Sells motorcycles under the Indian, Victory and Slingshot brands.
  • Aftermarket (16% of 2017 Revenues): Sells off-road accessories and lifestyle products.
  • Global Adjacent Markets (7% of 2017 Revenues): Sells small business vehicles including light duty haulers, small automobiles and electric carts.

Off-Road Vehicles/Snowmobiles Segment

In off-road vehicles, Polaris manufacturers ATVs and Side-by-Side (SxS) vehicles.
  • All-Terrain Vehicles (ATVs) These vehicles have four wheels and are designed for use through tough terrain, swamps and marshland.
  • Side-by-Side Vehicles (SxS) These are multiple passenger off-road, all-vehicle vehicles that can sit up to six passengers plus cargo. Polaris sells these vehicles under the Ranger, RZR and General brand names.
Polaris entered the off-road vehicle market in 1985 with its first ATV. In 1998, they introduced their first SxS vehicle. Polaris is a pioneer in the off-road vehicle market having introduced the first independent rear suspension on a sport ATV and created the recreational SxS segment.

In snowmobiles, Polaris sells a full line of vehicles that retail for $3,000 to $15,000. Polaris pioneered features such as independent front suspension, hydraulic disc brakes, and a three-cylinder engine.Polaris has the #2 market share in the US, behind Ski-Doo and ahead of Arctic Cat and Yamaha.

On-Road Vehicles/Motorcycles Segment

Polaris has been selling motorcycles since 1998 when it introduced the Victory brand. In 2011, the company acquired Indian, which is one of the oldest American motorcycle brands. Polaris positions its Indian brand as a made-in-the-USA alternative to Harley-Davidson. In 2014, Polaris introduced its first three-wheeled roadster, Slingshot.

Aftermarket Segment

Polaris sells aftermarket parts and accessories to retailers and distributors. In 2016, Polaris acquired Transamerican Auto Parts, a leading producer and distributor of off-road Jeep and truck aftermarket accessories. Other brands include Kolpin, Pro Armor and Trail Tech.

Polaris is able to generate revenue synergies by introducing aftermarket accessories to its off-road vehicle customers.

Global Adjacent Markets Segment

Polaris sells small vehicles in different markets around the world, including light duty haulers in India, small automobiles in Europe, and electric carts in North America.


Scott W. Wine (CEO): Scott Wine serves as CEO since 2008. Prior, he was President of Fire Safety Americas, a division of United Technologies. He also held roles at Danaher Corporation.

Michael T. Speetzen (CFO): Michael Speetzen serves as CFO since  2015. Prior, he served as CFO of Xylem and CFO of Dubai Aerospace Enterprise. He has also worked at ITT Corp. Honeywell and General Electric.


 $ USD in millions     2013     2014  2015  2016  2017
 Revenues  $3,777 
 Gross Profit  $1,121 
 Operating Profit  $578 
 Net Income $377 
 EPS $5.35