Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Polaris's annualizedNet Income for the quarter that ended in Dec. 2023 was $414 Mil. Polaris's average total tangible assets for the quarter that ended in Dec. 2023 was $4,718 Mil. Therefore, Polaris's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 8.77%.
The historical rank and industry rank for Polaris's Return-on-Tangible-Asset or its related term are showing as below:
PII'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.85 Med: 11.48 Max: 27.46
Current: 11.08
During the past 13 years, Polaris's highest Return-on-Tangible-Asset was 27.46%. The lowest was 3.85%. And the median was 11.48%.
PII's Return-on-Tangible-Asset is ranked better than 89.33% of 1303
companies
in the Vehicles & Parts industry
Industry Median: 3.43
vs PII: 11.08
Polaris Return-on-Tangible-Asset Historical Data
The historical data trend for Polaris's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Premium members only.
Polaris Annual Data
Trend
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Return-on-Tangible-Asset
11.68
3.85
12.89
10.62
11.28
Polaris Quarterly Data
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Return-on-Tangible-Asset
18.41
10.44
12.01
12.92
8.77
Competitive Comparison
For the Recreational Vehicles subindustry, Polaris's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Polaris Return-on-Tangible-Asset Distribution
For the Vehicles & Parts industry and Consumer Cyclical sector, Polaris's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Polaris's Return-on-Tangible-Asset falls into.
Polaris Return-on-Tangible-Asset Calculation
Polaris's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Polaris Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Polaris's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the marine market after acquiring Boat Holdings in 2018, offering exposure to new segments of the outdoor lifestyle market. Polaris products retailed through more than 2,500 dealers in North America and through 1,500 international dealers as well as more than 25 subsidiaries and 90 distributors in more than 100 countries outside North America at the end of 2022.
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