P 
Polestar Automotive Holding UK PLC Class A ADS PSNY · USD
Consumer Discretionary · US listing · 🇺🇸 United States
4.72
+10.80%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$3.06bn
FY2019FY2025
Net income
−$2.36bn
FY2019FY2025
Free cash flow
−$1.37bn
FY2019FY2025
Shareholders' equity
−$5.12bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.06bn | $2.03bn | $2.37bn | $2.44bn | $1.34bn | $610.2m | $92.4m |
| Research and development | $77.6m | $38.4m | $157.3m | $171.0m | $234.0m | $183.8m | $34.4m |
| Operating income | −$1.99bn | −$1.74bn | −$1.52bn | −$914.0m | −$960.6m | −$448.0m | −$188.1m |
| Net income | −$2.36bn | −$2.05bn | −$1.18bn | −$479.0m | −$1.01bn | −$484.9m | −$198.0m |
| Diluted earnings per share | -0.85 | -29.14 | -0.56 | -0.23 | -14.29 | -15.46 | -29.70 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $3.93bn | $4.05bn | $4.13bn | $3.94bn | $3.31bn | $2.55bn | $1.55bn |
| Cash and short-term investments | $1.18bn | $739.2m | $768.9m | $973.9m | $757.9m | $316.4m | $236.2m |
| Total liabilities | $9.05bn | $7.38bn | $5.38bn | $4.08bn | $3.19bn | $1.97bn | $957.2m |
| Debt | $6.40bn | $4.96bn | $3.58bn | $1.41bn | $758.8m | $374.7m | $535.6m |
| Shareholders' equity | −$5.12bn | −$3.33bn | −$1.25bn | −$133.3m | $122.5m | $580.7m | $591.2m |
| Shares outstanding | 2,775m | 70m | 2,110m | 2,109m | 71m | 31m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$915.0m | −$991.2m | −$1.86bn | −$1.09bn | −$312.2m | −$57.0m | −$190.1m |
| Capital spending | −$454.8m | −$357.0m | −$594.8m | −$713.5m | −$129.7m | −$243.7m | −$285.4m |
| Free cash flow | −$1.37bn | −$1.35bn | −$2.45bn | −$1.80bn | −$441.8m | −$300.8m | −$475.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Sept 2025 | Jun 2025 | Mar 2025 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | −$631.6m | $633.0m | $817.8m | $711.3m | $711.3m | $564.2m | $572.6m | $345.3m |
| Operating income | — | −$456.8m | −$456.8m | −$547.8m | −$547.8m | −$674.4m | −$245.1m | −$167.9m |
| Net income | $382.2m | −$383.0m | −$582.1m | −$596.5m | −$596.5m | −$323.1m | −$267.0m | −$274.3m |
| Diluted earnings per share | 4.13 | -4.14 | -0.21 | -0.21 | -0.21 | -4.59 | -3.80 | -3.90 |
| Cash from operations | — | −$914.0m | −$208.0m | −$248.0m | −$248.0m | −$410.0m | $62.0m | −$229.0m |
| Capital spending | — | −$158.0m | −$35.0m | −$44.0m | −$44.0m | −$32.0m | −$83.0m | −$229.0m |
| Free cash flow | — | −$1.07bn | −$243.0m | −$292.0m | −$292.0m | −$442.0m | −$21.0m | −$458.0m |
| Total assets | — | $3.93bn | $3.93bn | $3.64bn | $3.64bn | $4.05bn | $3.83bn | $3.94bn |
| Cash and short-term investments | — | $1.16bn | $1.16bn | $718.6m | $718.6m | $739.2m | $668.9m | $784.0m |
| Debt | — | $3.90bn | $4.02bn | $5.60bn | $3.21bn | $2.73bn | $1.65bn | — |
| Shareholders' equity | — | −$5.12bn | −$5.12bn | −$4.27bn | −$4.27bn | −$3.33bn | −$1.82bn | −$1.54bn |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -64.9% | -84.7% | -41.6% | -15.2% | -69.0% | -72.6% |
| Net margin | -77.1% | -100.8% | -49.9% | -19.6% | -75.0% | -79.5% |
| Return on equity | 46.0% | 61.6% | 94.8% | 359.2% | -822.4% | -83.5% |
| Return on assets | -60.0% | -50.6% | -28.6% | -12.2% | -30.4% | -19.0% |
| Free cash flow yield | -4.0% | -219.9% | -14.6% | -4.3% | -63.1% | 145.2% |
| Revenue growth | 50.3% | -14.1% | -3.0% | 81.7% | 120.2% | 560.3% |
| Earnings growth | 15.0% | 73.4% | 146.7% | -52.5% | 107.8% | 144.9% |
| Current ratio | 0.43x | 0.48x | 0.65x | 0.68x | 0.53x | 0.63x |
| Debt to equity | -1.25x | -1.49x | -2.87x | -10.57x | 6.19x | 0.65x |
| Equity ratio | -130.3% | -82.1% | -30.2% | -3.4% | 3.7% | 22.8% |
| Interest coverage | -5.29x | -5.14x | -4.79x | -4.78x | -20.52x | -16.72x |
| R&D as a share of sales | 2.5% | 1.9% | 6.6% | 7.0% | 17.4% | 30.1% |
| Buybacks as a share of market value | -3845.0% | 96.7% | -0.0% | -2891.6% | -124.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.7% | 35.6% | — |
| Operating income | 29.5% | 34.7% | — |
| Net income | 70.1% | 37.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -73.3% | -62.3% | -63.9% | — |
| Net margin | -86.5% | -61.3% | -63.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -25.2 | -1.1 | -121.0 | -701.5 | -24.6 |
| Price to sales | 22.2 | 1.3 | 66.2 | 144.1 | 19.1 |
Market value over time
28 May 2021 to 30 Oct 2026, in USD
$116.4m$543.8m
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | -53% | -65% | -48% | -58% | 12% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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