Polestar Automotive Holding UK PLC
PSNY Nasdaq Motor Vehicles & Passenger Car Bodies Financials FY2020โFY2025
Revenue
Total sales reported in the income statement.
$3.1B
50.3%
vs prior year
Operating margin
Operating income as a share of revenue.
โ65.7%
23.4ย pts
Net income
Profit after all expenses, interest and tax.
โ$2.4B
Free cash flow
Cash from operations minus capital spending.
โ$1.1B
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ2,025.0%
1,860.6ย pts
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$25.50 EPS (TTM)
What Polestar Automotive Holding UK PLC does
No business description yet.
- Legal name
- Polestar Automotive Holding UK PLC
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 17, 2026
- Accession ยท CIK
- 0001884082-26-000006
0001884082
Revenue and margins
Polestar Automotive Holding UK PLC had $3.1B of revenue in fiscal 2025, up 50.3% on the year before.
FY20
Revenue $610M
FY21
Revenue $1.3B
FY22
Revenue $2.4B
FY23
Revenue $2.4B
FY24
Revenue $2.0B
FY25
Revenue $3.1B
Q2 '22
Revenue $589M
Q2 '23
Revenue $685M
FY20
Gross 9.3%
Operating โ
Net โ79.5%
FCF โ17.5%
FY21
Gross 0.8%
Operating โ71.5%
Net โ72.2%
FCF โ26.0%
FY22
Gross 4.1%
Operating โ52.7%
Net โ19.6%
FCF โ45.6%
FY23
Gross โ17.3%
Operating โ62.1%
Net โ49.9%
FCF โ85.8%
FY24
Gross โ43.1%
Operating โ89.1%
Net โ100.8%
FCF โ56.0%
FY25
Gross โ35.4%
Operating โ65.7%
Net โ77.1%
FCF โ35.1%
Gross
Operating
Net
FCF
Q2 '22
Gross 10.3%
Operating โ
Net โ38.7%
FCF โ
Q2 '23
Gross โ0.1%
Operating โ
Net โ44.4%
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income โ$485M
FY21
Net income โ$970M
FY22
Net income โ$479M
FY23
Net income โ$1.2B
FY24
Net income โ$2.0B
FY25
Net income โ$2.4B
Q2 '22
Net income โ$228M
Q2 '23
Net income โ$304M
FY20
Diluted EPS โ$8.70
FY21
Diluted EPS โ$15.30
FY22
Diluted EPS โ$7.20
FY23
Diluted EPS โ$16.80
FY24
Diluted EPS โ$29.10
FY25
Diluted EPS โ$25.50
Q2 '22
Diluted EPS โ$3.60
Q2 '23
Diluted EPS โ$4.20
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital โ
Return on equity โ
Return on assets โ
FY21
Return on capital โ
Return on equity โ
Return on assets โ29.3%
FY22
Return on capital โ386.0%
Return on equity โ
Return on assets โ13.1%
FY23
Return on capital โ81.0%
Return on equity โ
Return on assets โ28.5%
FY24
Return on capital โ164.4%
Return on equity โ
Return on assets โ49.1%
FY25
Return on capital โ2,025.0%
Return on equity โ
Return on assets โ59.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$1.1B in fiscal 2025, โ35.1% of revenue. Cash from operations minus capital spending.
FY20
Free cash flow โ$107M
FY21
Free cash flow โ$349M
FY22
Free cash flow โ$1.1B
FY23
Free cash flow โ$2.0B
FY24
Free cash flow โ$1.1B
FY25
Free cash flow โ$1.1B
FY20
Cash from operations โ$57.1M
Capital spending $49.6M
FY21
Cash from operations โ$324M
Capital spending $24.7M
FY22
Cash from operations โ$1.1B
Capital spending $32.3M
FY23
Cash from operations โ$1.9B
Capital spending $137M
FY24
Cash from operations โ$991M
Capital spending $148M
FY25
Cash from operations โ$915M
Capital spending $159M
Cash from operations
Capital spending
Dividends, buybacks and share count
Polestar Automotive Holding UK PLC returned โ to shareholders in fiscal 2025. The diluted share count rose 31.5%.
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY20
Diluted shares 0.06B
FY21
Diluted shares 0.06B
FY22
Diluted shares 0.07B
FY23
Diluted shares 0.07B
FY24
Diluted shares 0.07B
FY25
Diluted shares 0.09B
Balance sheet
Cash, debt and the ratios that show how comfortably Polestar Automotive Holding UK PLC can carry it.
FY20
Cash $316M
Debt โ
FY21
Cash $757M
Debt $642M
FY22
Cash $974M
Debt $1.3B
FY23
Cash $768M
Debt $3.5B
FY24
Cash $739M
Debt $4.9B
FY25
Cash $1.2B
Debt $6.4B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $757M | $974M | $768M | $739M | $1.2B |
| Debt incl. finance leases | $642M | $1.3B | $3.5B | $4.9B | $6.4B |
| Interest coverage | โ21.2x | โ11.9x | โ6.9x | โ5.3x | โ5.2x |
| Current ratio | 0.5x | 0.7x | 0.6x | 0.5x | 0.4x |
| Quick ratio | 0.3x | 0.5x | 0.4x | 0.3x | 0.3x |
| Total assets | $3.3B | $4.0B | $4.3B | $4.1B | $3.9B |
| Total liabilities | $3.2B | $4.1B | $5.5B | $7.4B | $9.1B |
| Shareholders' equity | โ$184M | โ$89.9M | โ$1.3B | โ$3.3B | โ$5.1B |
| Net debt (โ = net cash) | โ$114M | $353M | $2.7B | $4.2B | $5.2B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 5 | 4 / 9 | 0 / 9 | 1 / 9 | 3 / 9 |
| Accruals ratio | โ | โ19.5% | 16.4% | 17.2% | โ25.4% | โ36.1% |
| Altman Z'' | โ | โ6.59 | โ6.91 | โ | โ12.99 | โ |
6 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $610M | $1.3B | $2.4B | $2.4B | $2.0B | $3.1B |
| Gross profit | $56.5M | $11.1M | $101M | โ$410M | โ$876M | โ$1.1B |
| Research and development | $184M | $234M | $175M | $157M | $38.4M | $77.6M |
| Operating income | โ | โ$961M | โ$1.3B | โ$1.5B | โ$1.8B | โ$2.0B |
| Interest expense | $34.0M | $45.2M | $108M | $213M | $341M | $385M |
| Pretax income | โ$471M | โ$973M | โ$449M | โ$1.2B | โ$2.1B | โ$2.4B |
| Income tax | $13.5M | โ$3.1M | $29.8M | โ$9.5M | โ$9.2M | โ$3.7M |
| Net income | โ$485M | โ$970M | โ$479M | โ$1.2B | โ$2.0B | โ$2.4B |
| Diluted EPS | โ$8.70 | โ$15.30 | โ$7.20 | โ$16.80 | โ$29.10 | โ$25.50 |
| Diluted shares | 0.06B | 0.06B | 0.07B | 0.07B | 0.07B | 0.09B |
| Cash flow | ||||||
| Cash from operations | โ$57.1M | โ$324M | โ$1.1B | โ$1.9B | โ$991M | โ$915M |
| Capital expenditure | $49.6M | $24.7M | $32.3M | $137M | $148M | $159M |
| Free cash flow | โ$107M | โ$349M | โ$1.1B | โ$2.0B | โ$1.1B | โ$1.1B |
| Depreciation and amortization | $216M | $212M | $141M | $115M | $55.7M | $52.7M |
| Stock-based compensation | $0.0M | $0.0M | $5.0M | $4.9M | $9.8M | $9.1M |
| Balance sheet | ||||||
| Cash and short-term investments | $316M | $757M | $974M | $768M | $739M | $1.2B |
| Total debt | โ | $642M | $1.3B | $3.5B | $4.9B | $6.4B |
| Current assets | โ | $1.6B | $2.1B | $2.3B | $2.3B | $2.7B |
| Current liabilities | โ | $3.0B | $3.2B | $3.6B | $4.7B | $6.2B |
| Inventory | โ | $546M | $630M | $928M | $1.1B | $853M |
| Property and equipment, net | โ | $208M | $352M | $476M | $538M | $293M |
| Intangible assets | โ | $1.3B | $1.3B | $1.4B | $995M | โ |
| Total assets | โ | $3.3B | $4.0B | $4.3B | $4.1B | $3.9B |
| Total liabilities | โ | $3.2B | $4.1B | $5.5B | $7.4B | $9.1B |
| Shareholders' equity | โ$603M | โ$184M | โ$89.9M | โ$1.3B | โ$3.3B | โ$5.1B |
| Margins | ||||||
| Gross margin | 9.3% | 0.8% | 4.1% | โ17.3% | โ43.1% | โ35.4% |
| Operating margin | โ | โ71.5% | โ52.7% | โ62.1% | โ89.1% | โ65.7% |
| EBITDA margin | โ | โ55.7% | โ46.9% | โ57.2% | โ86.4% | โ64.0% |
| Net margin | โ79.5% | โ72.2% | โ19.6% | โ49.9% | โ100.8% | โ77.1% |
| FCF margin | โ17.5% | โ26.0% | โ45.6% | โ85.8% | โ56.0% | โ35.1% |
| Returns | ||||||
| Return on capital | โ | โ | โ386.0% | โ81.0% | โ164.4% | โ2,025.0% |
| Return on capital employed | โ | โ357.1% | โ156.3% | โ219.5% | 264.1% | 88.2% |
| Return on assets | โ | โ29.3% | โ13.1% | โ28.5% | โ49.1% | โ59.0% |
| Growth | ||||||
| Revenue growth | โ | 120.2% | 81.7% | โ3.0% | โ14.1% | 50.3% |
| Share count change | โ | 13.7% | 6.1% | 4.1% | 0.0% | 31.5% |
| Financial health | ||||||
| Interest coverage | โ | โ21.2x | โ11.9x | โ6.9x | โ5.3x | โ5.2x |
| Current ratio | โ | 0.5x | 0.7x | 0.6x | 0.5x | 0.4x |
| Quick ratio | โ | 0.3x | 0.5x | 0.4x | 0.3x | 0.3x |
| Capital allocation | ||||||
| Capex / revenue | 8.1% | 1.8% | 1.3% | 5.8% | 7.3% | 5.2% |
| Stock comp / revenue | 0.0% | 0.0% | 0.2% | 0.2% | 0.5% | 0.3% |
| Quality scores | ||||||
| Piotroski F-score | โ | โ | 4.0 | 0.0 | 1.0 | 3.0 |
| Altman Z'' | โ | โ6.6 | โ6.9 | โ | โ13.0 | โ |
| Accruals ratio | โ | โ19.5% | 16.4% | 17.2% | โ25.4% | โ36.1% |
Source: SEC EDGAR XBRL filings (CIK 0001884082). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Per-share figures are per US-listed share (1 ADS = 30 ordinary shares). For information only โ not investment advice. Check the original filings before relying on any figure.