Polestar Automotive Holding UK ADR (PLSAY) Financials

PLSAY

FY2024 annual

Revenue $2.0B -14.1% YoY

Net Income -$2.0B -73.4% YoY

Free Cash Flow -$1.1B +43.9% YoY

Operating Cash Flow -$991.2M +47.7% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2025, ended Jun 30, 2025 Reported Sep 3, 2025 Currency USD FYE December

Newest figures come from the 10-K for Q2 FY2025, filed Sep 3, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PLSAY SEC filings page.

Polestar Automotive Holding UK ADR (PLSAY) reported $2.0B in revenue for fiscal year 2024, down 14.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PLSAY FY2024 2026-08-30

PLSAY’s dominant mechanic is a shrinking revenue base paired with recurring cash consumption and financing-led balance-sheet support.

Operating cash flow improved from -$1.9B in FY2023 to -$991M in FY2024, but remained negative. With FY2024 net margin at -100.8%, the cash improvement reflects less severe outflow—not earnings conversion; capital spending still made free cash flow weaker than operating cash flow.

Liabilities reached $7.4B against assets of $4.1B, so obligations exceeded recorded resources. Negative equity stood at -$3.3B and the current ratio was 0.5x, indicating short-term claims were not matched by comparable current assets.

Revenue fell from $2.4B in FY2022 to $2.0B in FY2024, indicating shrinking scale rather than growth-led cost absorption. Meanwhile, financing supplied $1.4B against operating cash flow of -$991M, showing that external funding offset internal cash use.

Financial Health Signals

Financial health score not available

Polestar Automotive Holding UK ADR does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/7

Polestar Automotive Holding UK ADR passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

Polestar Automotive Holding UK ADR reported a net loss of $2.0B while operations used $991.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q2 2025.

Cash & Balance Sheet

Cash & Debt

$718.6M

YoY+7.4%

QoQ-2.8%

Polestar Automotive Holding UK ADR held $718.6M in cash against $4.1B in long-term debt as of Q2 2025.

Free Cash Flow

Not reported for Q2 2025.

Dividends Per Share

Not reported for Q2 2025.

Shares Outstanding

Not reported for Q2 2025.

Margins & Returns

None of these metrics is reported for Q2 2025.

Capital Allocation

None of these metrics is reported for Q2 2025.

PLSAY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PLSAY quarterly income statement

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Revenue	$2.0B-14.1%	$2.4B-3.0%	$2.4B+81.7%	$1.3B+120.2%	$610.2M
Interest Expense	$7.4M+48.2%	$5.0M-19.2%	$6.2M+160.9%	$2.4M+12.0%	$2.1M
Income Tax	-$9.2M+3.0%	-$9.5M-131.8%	$29.8M+1067.4%	-$3.1M-122.7%	$13.5M
Net Income	-$2.0B-73.4%	-$1.2B-146.7%	-$479.0M+50.6%	-$969.8M-100.0%	-$484.9M
Diluted Shares (Avg)	2.11B0.0%	2.11B+4.1%	2.03B+6.1%	1.91B+13.7%	1.68B

Metric	Q2'2510-K	Q4'2410-K	Q2'2410-K	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q	Q4'2110-K
Revenue	N/A	N/A	N/A	N/A	$685.2M+16.3%	N/A	$589.1M	N/A
Interest Expense	N/A	N/A	N/A	N/A	$1.1M+4.4%	N/A	$1.1M	N/A
Income Tax	N/A	N/A	N/A	N/A	$2.6M-4.9%	N/A	$2.7M	N/A
Net Income	N/A	N/A	N/A	N/A	-$304.1M-33.2%	N/A	-$228.2M	N/A
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	2.11B+8.2%	N/A	1.95B	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).

PLSAY Balance Sheet

PLSAY quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Total Assets	$4.1B-5.5%	$4.3B+7.0%	$4.0B+21.2%	$3.3B	N/A
Current Assets	$2.3B+1.1%	$2.3B+5.9%	$2.1B+33.6%	$1.6B	N/A
Cash & Equivalents	$739.2M-3.8%	$768.3M-21.1%	$973.9M+28.7%	$756.7M+139.1%	$316.4M
Inventory	$1.1B+16.3%	$927.7M+47.2%	$630.2M+15.5%	$545.7M	N/A
Goodwill	$1.0B-26.6%	$1.4B+1.8%	$1.4B+1.8%	$1.4B	N/A
Total Liabilities	$7.4B+33.2%	$5.5B+35.2%	$4.1B+28.6%	$3.2B	N/A
Current Liabilities	$4.7B+30.9%	$3.6B+13.7%	$3.2B+4.8%	$3.0B	N/A
Non-Current Liabilities	$2.6B+37.6%	$1.9B+110.4%	$912.9M+523.3%	$146.5M	N/A
Long-Term Debt	$47.9M-12.0%	$54.4M+73.8%	$31.3M-52.9%	$66.6M	N/A
Total Equity	-$3.3B-166.1%	-$1.3B-1491.1%	$89.9M+149.0%	-$183.5M+69.6%	-$603.2M
Retained Earnings	-$6.9B	N/A	-$3.7B-111.5%	-$1.8B	N/A

Metric	Q2'2510-K	Q4'2410-K	Q2'2410-K	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q	Q4'2110-K
Total Assets	$3.6B-9.0%	$4.1B-5.5%	$4.0B-5.9%	$4.3B+7.0%	$4.3B	$4.0B+21.2%	N/A	$3.3B
Current Assets	$2.2B+20.0%	$2.3B+1.1%	$1.8B-23.3%	$2.3B+5.9%	$2.4B	$2.1B+33.6%	N/A	$1.6B
Cash & Equivalents	$718.6M+7.4%	$739.2M-3.8%	$668.9M-36.7%	$768.3M-21.1%	$1.1B-23.5%	$973.9M+28.7%	$1.4B	$756.7M
Inventory	$805.7M+12.8%	$1.1B+16.3%	$714.0M-17.7%	$927.7M+47.2%	$867.5M	$630.2M+15.5%	N/A	$545.7M
Goodwill	$837.7M-42.9%	$1.0B-26.6%	$1.5B0.0%	$1.4B+1.8%	$1.5B	$1.4B+1.8%	N/A	$1.4B
Total Liabilities	$7.9B+36.0%	$7.4B+33.2%	$5.8B+23.1%	$5.5B+35.2%	$4.7B	$4.1B+28.6%	N/A	$3.2B
Current Liabilities	$5.2B+62.1%	$4.7B+30.9%	$3.2B-21.2%	$3.6B+13.7%	$4.1B	$3.2B+4.8%	N/A	$3.0B
Non-Current Liabilities	$2.7B+3.8%	$2.6B+37.6%	$2.6B+298.9%	$1.9B+110.4%	$653.8M	$912.9M+523.3%	N/A	$146.5M
Long-Term Debt	$4.1B+9289.6%	$47.9M-12.0%	$43.2M-42.9%	$54.4M+73.8%	$75.8M	$31.3M-52.9%	N/A	$66.6M
Total Equity	-$4.3B-135.4%	-$3.3B-166.1%	-$1.8B-297.1%	-$1.3B-1491.1%	-$456.3M-168.4%	$89.9M+149.0%	-$170.0M	-$183.5M
Retained Earnings	-$8.1B	-$6.9B	N/A	N/A	-$4.0B	-$3.7B-111.5%	N/A	-$1.8B

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments.

PLSAY Cash Flow Statement

PLSAY quarterly cash flow statement

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	-$991.2M+47.7%	-$1.9B-75.2%	-$1.1B-233.6%	-$324.1M-468.0%	-$57.0M
Depreciation & Amortization	$55.7M-51.7%	$115.4M-18.0%	$140.8M-33.4%	$211.6M-2.1%	$216.1M
Capital Expenditures	$147.9M+7.6%	$137.4M+325.8%	$32.3M+30.6%	$24.7M-50.2%	$49.6M
Free Cash Flow	-$1.1B+43.9%	-$2.0B-82.5%	-$1.1B-219.2%	-$348.8M-227.0%	-$106.6M
Investing Cash Flow	-$412.6M+1.2%	-$417.6M+41.1%	-$709.0M-458.6%	-$126.9M+47.9%	-$243.7M
Financing Cash Flow	$1.4B-32.3%	$2.1B+1.5%	$2.1B+125.8%	$918.7M+155.5%	$359.6M

Metric	Q2'2510-K	Q4'2410-K	Q2'2410-K	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q	Q4'2110-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

PLSAY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

PLSAY quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Net Margin	-100.8%	-49.9%-30.3pp	-19.6%+52.5pp	-72.2%+7.3pp	-79.5%
Return on Equity	N/A	N/A	-532.6%	N/A	N/A
Return on Assets	-50.6%-23.0pp	-27.5%-15.6pp	-11.9%+17.3pp	-29.3%	N/A
Current Ratio	0.48-0.1x	0.630.0x	0.67+0.1x	0.53	N/A
Debt-to-Equity	N/A	N/A	0.35	N/A	N/A
Asset Turnover	0.500.0x	0.55-0.1x	0.61+0.2x	0.41	N/A
FCF Margin	-56.0%+29.8pp	-85.8%-40.2pp	-45.6%-19.7pp	-26.0%-8.5pp	-17.5%

Metric	Q2'2510-K	Q4'2410-K	Q2'2410-K	Q4'2310-K	Q2'2310-Q	Q4'2210-K	Q2'2210-Q	Q4'2110-K
Net Margin	N/A	N/A	N/A	N/A	-44.4%-5.6pp	N/A	-38.8%	N/A
Return on Assets	N/A	N/A	N/A	N/A	-7.1%	N/A	N/A	N/A
Current Ratio	0.43-0.1x	0.48-0.1x	0.580.0x	0.630.0x	0.59	0.67+0.1x	N/A	0.53
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	0.35	N/A	N/A
Asset Turnover	N/A	N/A	N/A	N/A	0.16	N/A	N/A	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Return on Equity, FCF Margin.

Note: Shareholder equity is negative (-$3.3B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.48), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Where Polestar Automotive Holding UK ADR Ranks

Frequently Asked Questions

What is Polestar Automotive Holding UK ADR's annual revenue?

Polestar Automotive Holding UK ADR (PLSAY) reported $2.0B in total revenue for fiscal year 2024. This represents a -14.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Polestar Automotive Holding UK ADR's revenue growing?

Polestar Automotive Holding UK ADR (PLSAY) revenue declined by 14.1% year-over-year, from $2.4B to $2.0B in fiscal year 2024.

Is Polestar Automotive Holding UK ADR profitable?

No, Polestar Automotive Holding UK ADR (PLSAY) reported a net income of -$2.0B in fiscal year 2024.

How much debt does Polestar Automotive Holding UK ADR have?

As of fiscal year 2024, Polestar Automotive Holding UK ADR (PLSAY) had $739.2M in cash and equivalents against $47.9M in long-term debt.

What is Polestar Automotive Holding UK ADR's free cash flow?

Polestar Automotive Holding UK ADR (PLSAY) recorded an outflow of $1.1B in free cash flow during fiscal year 2024. This represents a 43.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Polestar Automotive Holding UK ADR's operating cash flow?

Polestar Automotive Holding UK ADR (PLSAY) recorded an outflow of $991.2M in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are Polestar Automotive Holding UK ADR's total assets?

Polestar Automotive Holding UK ADR (PLSAY) had $4.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Polestar Automotive Holding UK ADR's capital expenditures?

Polestar Automotive Holding UK ADR (PLSAY) invested $147.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Polestar Automotive Holding UK ADR's current ratio?

Polestar Automotive Holding UK ADR (PLSAY) had a current ratio of 0.48 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Polestar Automotive Holding UK ADR's return on assets (ROA)?

Polestar Automotive Holding UK ADR (PLSAY) had a return on assets of -50.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Polestar Automotive Holding UK ADR's debt-to-equity ratio negative or not reported?

Polestar Automotive Holding UK ADR (PLSAY) has negative shareholder equity of -$3.3B as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Polestar Automotive Holding UK ADR's Piotroski F-Score?

Polestar Automotive Holding UK ADR (PLSAY) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Polestar Automotive Holding UK ADR's earnings high quality?

Polestar Automotive Holding UK ADR (PLSAY) reported a net loss of $2.0B while operations used $991.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.