PII
Polaris Inc.
PII has lower modeled downside risk, despite its lower overall score.
RIVN
Rivian Automotive, Inc.
RIVN has a slight edge over PII overall, supported by stronger fundamentals and stronger modeled upside.
PII Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Weak |
PII's revenue is currently healthy, but its profitability, cash flow and balance sheet are under pressure.
RIVN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
RIVN's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
PII PE Valuation
PII has no meaningful PE right now: it lost money over the past year.
RIVN PE Valuation
RIVN has no meaningful PE right now: it lost money over the past year.
PII Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for PII, with profitability improving. However, they disagree widely on these estimates.
RIVN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect RIVN's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
PII Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.84 | — |
| Q3 2026 | -$3.69 | -$1.03 |
| Q2 2026 | -$4.63 | -$2.74 |
| Q1 2026 | -$7.84 | -1204% |
| Q4 2025 | -$8.18 | -519% |
| Q3 2025 | -$2.66 | -174% |
| Q2 2025 | -$1.89 | -133% |
| Q1 2025 | $0.71 | -90% |
| Q4 2024 | $1.95 | -78% |
PII lost $3.69 per share over the past year, a bigger loss than the year before.
RIVN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.25 | +$0.83 |
| Q2 2026 | -$2.58 | +$0.62 |
| Q1 2026 | -$2.92 | +$0.77 |
| Q4 2025 | -$3.07 | +$1.62 |
| Q3 2025 | -$3.08 | +$2.52 |
| Q2 2025 | -$3.20 | +$2.76 |
| Q1 2025 | -$3.69 | +$2.08 |
| Q4 2024 | -$4.69 | +$1.05 |
RIVN has the edge over PII on earnings, with more consistent year-over-year improvement.
PII Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2B | +11% |
| Q2 2026 | $2B | +9.2% |
| Q1 2026 | $1.7B | +8% |
| Q4 2025 | $1.9B | +9.5% |
| Q3 2025 | $1.8B | +6.9% |
| Q2 2025 | $1.9B | -5.5% |
| Q1 2025 | $1.5B | -12% |
| Q4 2024 | $1.8B | -23% |
PII's revenue is recovering but still below its 2022 peak: $2B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.6% | +2.5 points |
| Q2 2026 | 7.4% | +8.1 points |
| Q1 2026 | -2.4% | 0 points |
| Q4 2025 | -17% | -20 points |
| Q3 2025 | 1.1% | -2.7 points |
| Q2 2025 | -0.7% | -6.8 points |
| Q1 2025 | -2.4% | -4.6 points |
| Q4 2024 | 3.8% | -2.5 points |
PII has the edge over RIVN on profitability, with a higher operating margin.
RIVN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +38% |
| Q2 2026 | $1.7B | +27% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.3B | -26% |
| Q3 2025 | $1.6B | +78% |
| Q2 2025 | $1.3B | +13% |
| Q1 2025 | $1.2B | +3% |
| Q4 2024 | $1.7B | +32% |
RIVN has the edge over PII on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | +22 points |
| Q2 2026 | -50% | +35 points |
| Q1 2026 | -64% | -11 points |
| Q4 2025 | -65% | -27 points |
| Q3 2025 | -63% | +71 points |
| Q2 2025 | -86% | +33 points |
| Q1 2025 | -53% | +70 points |
| Q4 2024 | -38% | +82 points |
RIVN's operating margin was −41% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2021.
PII Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $315.3M | +170% |
| Q2 2026 | $186.1M | -33% |
| Q1 2026 | -$349.9M | -835% |
| Q4 2025 | $114M | -17% |
| Q3 2025 | $116.7M | +$149.1M |
| Q2 2025 | $279.8M | +254% |
| Q1 2025 | $47.6M | +$225.1M |
| Q4 2024 | $137.3M | -69% |
PII has the edge over RIVN on cash generation, producing positive trailing cash flow while its opponent burns cash.
RIVN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | -$703M |
| Q2 2026 | -$849M | -$451M |
| Q1 2026 | -$1.1B | -$549M |
| Q4 2025 | -$1.1B | -234% |
| Q3 2025 | -$421M | +$732M |
| Q2 2025 | -$398M | +$639M |
| Q1 2025 | -$526M | +$997M |
| Q4 2024 | $856M | +$2.3B |
RIVN has burned cash in almost every quarter: −$4.2B over the past year, against −$489M the year before.
PII Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +200K shares |
| 1 year | +2.8% | +1.6M shares |
| 3 years | +1.2% | +700K shares |
| 5 years | -6.1% | -3.8M shares |
| Available history | -6.1% | -3.8M shares |
PII has the edge over RIVN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $100,000 |
| Q1 2026 | $9.2M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $2.4M |
| Q4 2024 | $400,000 |
PII spent $9M buying back its own shares over the past year, about three times what it spent the year before.
RIVN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.1% | +121M shares |
| 1 year | +19% | +226M shares |
| 3 years | +52% | +494M shares |
RIVN has 1.4B diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $6M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
PII Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 10.5x | High |
| Q2 2026 | 21.0x | High |
| Q3 2025 | 4.2x | High |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 3.4x | Elevated |
| Q4 2024 | 3.1x | Elevated |
| Q3 2024 | 2.9x | Moderate |
| Q2 2024 | 2.4x | Moderate |
PII's net debt is about 10 years of its operating earnings (EBITDA), up from 3.4 years a year ago.
RIVN Net Leverage
RIVN's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
PII Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.6 | Neutral |
| Stochastic | 51.1 | Neutral |
PII's weekly RSI is 55 (neutral) and its Stochastic is 51 (neutral).
RIVN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.5 | Neutral |
| Stochastic | 25.6 | Neutral |
RIVN's weekly RSI is 41 (neutral) and its Stochastic is 26 (neutral).
PII PE vs Consumer Cyclical Sector
| Metric | PII | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
PII has no meaningful PE right now: it lost money over the past year.
RIVN PE vs Consumer Cyclical Sector
RIVN has no meaningful PE right now: it lost money over the past year.
PII Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.6 | 14% above |
| 20 week MA | $62.0 | 4.3% above |
| 50 week MA | $63.5 | 2% above |
| 100 week MA | $56.8 | 14% above |
| 200 week MA | $76.1 | 15% below |
PII has the edge over RIVN on trend strength, trading above more of its moving averages.
RIVN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.3 | 3.9% below |
| 20 week MA | $15.1 | 15% below |
| 50 week MA | $15.9 | 19% below |
| 100 week MA | $14.7 | 13% below |
| 200 week MA | $15.1 | 15% below |
RIVN is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
PII Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.4 | $98.7 | -2.6% |
| 2021 | $98.7 | $106.3 | +7.6% |
| 2022 | $106.3 | $100.8 | -5.2% |
| 2023 | $100.8 | $94.8 | -6% |
| 2024 | $94.8 | $57.4 | -39% |
| 2025 | $57.4 | $66.3 | +15% |
| 2026 YTD | $66.3 | $64.7 | -2.4% |
PII has the edge over RIVN on returns for 2026, with the stronger performance.
RIVN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $130.0 | $96.8 | -25% |
| 2022 | $96.8 | $19.1 | -80% |
| 2023 | $19.1 | $23.5 | +23% |
| 2024 | $23.5 | $13.7 | -42% |
| 2025 | $13.7 | $20.9 | +53% |
| 2026 YTD | $20.9 | $12.8 | -39% |
RIVN has finished lower in three of the last five years. It's down 39% so far in 2026.