Polestar Automotive Holding UK PLC (PSNY) Financials

PSNY

FY2025 annual

Revenue $3.1B +50.3% YoY

Net Income -$2.4B -15.0% YoY

Free Cash Flow -$1.1B +5.7% YoY

Operating Cash Flow -$915.0M +7.7% YoY

Market Cap $1.3B as of Sep 12, 2026

Price / Sales 0.4x on $3.1B revenue, FY2025

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book n/m negative shareholder equity, so no book multiple, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Apr 17, 2026 Reported Apr 17, 2026 Currency USD FYE April

Newest figures come from the 10-K for FY2025, filed Apr 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PSNY SEC filings page.

Polestar Automotive Holding UK PLC (PSNY) reported $3.1B in revenue for fiscal year 2025, up 50.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 PSNY FY2025 2026-09-05

Revenue recovery is being financed externally while persistent losses deepen negative equity and keep short-term liquidity below one.

In FY2025, revenue reached $3.1B while the net loss remained -$2.4B, showing that added volume has not yet produced accounting profitability. Yet operating cash flow improved to -$915M from -$991M in FY2024, so the reported loss is not translating one-for-one into cash outflow; cash economics nevertheless remain negative.

Liabilities of $9.1B against assets of $3.9B indicate a balance sheet financed well beyond its recorded asset base. That structure leaves equity at -$5.1B and the current ratio at 0.4, pointing to limited short-term coverage from current assets.

Financing cash flow of $1.7B exceeded the operating cash deficit of -$915M, making external capital a central funding mechanism rather than a supplemental one. Reported liquidity equaled 15.2 months of the latest annual outflow comparison, while free cash flow remained -$1.1B.

Financial Health Signals

Financial Health Score 25/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Polestar Automotive Holding UK PLC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Not available for Polestar Automotive Holding UK PLC, and counted as zero in the overall score.

Growth

Polestar Automotive Holding UK PLC's revenue surged 50.3% year-over-year to $3.1B, reflecting rapid business expansion. This strong growth earns a score of 73/100.

Leverage

Liquidity

Polestar Automotive Holding UK PLC's current ratio of 0.43 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Polestar Automotive Holding UK PLC's operations used $915.0M of cash, and capex of $158.7M added to the outflow, for a free cash flow shortfall of $1.1B. This results in a cash flow score of 5/100.

Returns

Not available for Polestar Automotive Holding UK PLC, and counted as zero in the overall score.

Piotroski F-Score Partial

2/7

Polestar Automotive Holding UK PLC 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, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Polestar Automotive Holding UK PLC reported a net loss of $2.4B while operations used $915.0M 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 Q1 2026.

Cash & Balance Sheet

Cash & Debt

$718.6M

YoY+7.4%

QoQ-2.8%

Polestar Automotive Holding UK PLC held $718.6M in cash against $4.1B in long-term debt as of Q1 2026.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Shares Outstanding

Not reported for Q1 2026.

Margins & Returns

None of these metrics is reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

PSNY 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.

PSNY quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Revenue	$3.1B+50.3%	$2.0B-14.1%	$2.4B-3.0%	$2.4B+81.7%	$1.3B+120.2%	$610.2M
Interest Expense	$4.6M-97.5%	$187.2M+61.1%	$116.2M+248.6%	$33.3M+185.3%	$11.7M-11.3%	$13.2M
Income Tax	-$3.7M+59.7%	-$9.2M+3.0%	-$9.5M-131.8%	$29.8M+1067.4%	-$3.1M-122.7%	$13.5M
Net Income	-$2.4B-15.0%	-$2.0B-73.4%	-$1.2B-146.7%	-$479.0M+50.6%	-$969.8M-100.0%	-$484.9M
Diluted Shares (Avg)	2.78B+31.5%	2.11B0.0%	2.11B+4.1%	2.03B+6.1%	1.91B+13.7%	1.68B

Metric	Q1'2610-Q	Q3'2510-Q	Q1'2510-Q	Q3'2410-Q	Q1'2410-Q	Q3'2310-K	Q1'2310-Q	Q3'2210-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	$64.4M+65.6%	N/A	$38.9M	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).

PSNY Balance Sheet

PSNY quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Total Assets	$3.9B-3.1%	$4.1B-5.5%	$4.3B+7.0%	$4.0B+21.2%	$3.3B	N/A
Current Assets	$2.7B+17.0%	$2.3B+1.1%	$2.3B+5.9%	$2.1B+33.6%	$1.6B	N/A
Cash & Equivalents	$1.2B+56.8%	$739.2M-3.8%	$768.3M-21.1%	$973.9M+28.7%	$756.7M+139.1%	$316.4M
Short-Term Investments	$0	N/A	N/A	N/A	N/A	N/A
Inventory	$853.1M-21.0%	$1.1B+16.3%	$927.7M+47.2%	$630.2M+15.5%	$545.7M	N/A
Accounts Receivable	$341.9M	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	N/A	N/A	N/A	N/A	N/A
Goodwill	$700.3M-32.7%	$1.0B-26.6%	$1.4B+1.8%	$1.4B+1.8%	$1.4B	N/A
Total Liabilities	$9.1B+22.6%	$7.4B+33.2%	$5.5B+35.2%	$4.1B+28.6%	$3.2B	N/A
Current Liabilities	$6.2B+31.0%	$4.7B+30.9%	$3.6B+13.7%	$3.2B+4.8%	$3.0B	N/A
Non-Current Liabilities	$2.8B+7.6%	$2.6B+37.6%	$1.9B+110.4%	$912.9M+523.3%	$146.5M	N/A
Long-Term Debt	$93.5M+95.2%	$47.9M-12.0%	$54.4M+73.8%	$31.3M-52.9%	$66.6M	N/A
Total Equity	-$5.1B-53.9%	-$3.3B-166.1%	-$1.3B-1491.1%	$89.9M+149.0%	-$183.5M+69.6%	-$603.2M
Retained Earnings	N/A	-$6.9B	N/A	-$3.7B-111.5%	-$1.8B	N/A

Metric	Q1'2610-Q	Q3'2510-Q	Q1'2510-Q	Q3'2410-Q	Q1'2410-Q	Q3'2310-K	Q1'2310-Q	Q3'2210-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.

PSNY Cash Flow Statement

PSNY quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	-$915.0M+7.7%	-$991.2M+47.7%	-$1.9B-75.2%	-$1.1B-233.6%	-$324.1M-468.0%	-$57.0M
Depreciation & Amortization	$52.7M-5.4%	$55.7M-51.7%	$115.4M-18.0%	$140.8M-33.4%	$211.6M-2.1%	$216.1M
Capital Expenditures	$158.7M+7.3%	$147.9M+7.6%	$137.4M+325.8%	$32.3M+30.6%	$24.7M-50.2%	$49.6M
Free Cash Flow	-$1.1B+5.7%	-$1.1B+43.9%	-$2.0B-82.5%	-$1.1B-219.2%	-$348.8M-227.0%	-$106.6M
Investing Cash Flow	-$520.7M-26.2%	-$412.6M+1.2%	-$417.6M+41.1%	-$709.0M-458.6%	-$126.9M+47.9%	-$243.7M
Financing Cash Flow	$1.7B+18.9%	$1.4B-32.3%	$2.1B+1.5%	$2.1B+125.8%	$918.7M+155.5%	$359.6M

Metric	Q1'2610-Q	Q3'2510-Q	Q1'2510-Q	Q3'2410-Q	Q1'2410-Q	Q3'2310-K	Q1'2310-Q	Q3'2210-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.

PSNY 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.

PSNY quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Net Margin	-77.1%	-100.8%	-49.9%-30.3pp	-19.6%+52.5pp	-72.2%+7.3pp	-79.5%
Return on Equity	N/A	N/A	N/A	-532.6%	N/A	N/A
Return on Assets	-60.0%-9.4pp	-50.6%-23.0pp	-27.5%-15.6pp	-11.9%+17.3pp	-29.3%	N/A
Current Ratio	0.43-0.1x	0.48-0.1x	0.630.0x	0.67+0.1x	0.53	N/A
Debt-to-Equity	N/A	N/A	N/A	0.35	N/A	N/A
Asset Turnover	0.78+0.3x	0.500.0x	0.55-0.1x	0.61+0.2x	0.41	N/A
FCF Margin	-35.1%+20.9pp	-56.0%+29.8pp	-85.8%-40.2pp	-45.6%-19.7pp	-26.0%-8.5pp	-17.5%

Metric	Q1'2610-Q	Q3'2510-Q	Q1'2510-Q	Q3'2410-Q	Q1'2410-Q	Q3'2310-K	Q1'2310-Q	Q3'2210-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 (-$5.1B), 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 (0.43), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Polestar Automotive Holding UK PLC PSNY	FY2025	$3.1B	-$2.4B	-77.1%	$1.3B	25/100
Polestar Automotive Holding UK PLC PSNYW	FY2024	$2.0B	-$2.0B	N/A	$663.7M	14/100
VinFast Auto Ltd. VFS	FY2025	$3.4B	-$4.0B	N/A	$7.5B	22/100
Lucid Group, Inc. LCID	FY2025	$1.4B	-$2.7B	N/A	$1.7B	31/100
Lotus Technology Inc. American LOT	FY2025	$519.1M	-$464.2M	-89.4%	$706.5M	39/100

Where Polestar Automotive Holding UK PLC Ranks

Frequently Asked Questions

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

Polestar Automotive Holding UK PLC (PSNY) reported $3.1B in total revenue for fiscal year 2025. This represents a 50.3% 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 PLC's revenue growing?

Polestar Automotive Holding UK PLC (PSNY) revenue grew by 50.3% year-over-year, from $2.0B to $3.1B in fiscal year 2025.

Is Polestar Automotive Holding UK PLC profitable?

No, Polestar Automotive Holding UK PLC (PSNY) reported a net income of -$2.4B in fiscal year 2025, with a net profit margin of -77.1%.

How much debt does Polestar Automotive Holding UK PLC have?

As of fiscal year 2025, Polestar Automotive Holding UK PLC (PSNY) had $1.2B in cash and equivalents against $93.5M in long-term debt.

What is Polestar Automotive Holding UK PLC's net profit margin?

Polestar Automotive Holding UK PLC (PSNY) had a net profit margin of -77.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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

Polestar Automotive Holding UK PLC (PSNY) recorded an outflow of $1.1B in free cash flow during fiscal year 2025. This represents a 5.7% 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 PLC's operating cash flow?

Polestar Automotive Holding UK PLC (PSNY) recorded an outflow of $915.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

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

Polestar Automotive Holding UK PLC (PSNY) had $3.9B in total assets as of fiscal year 2025, including both current and long-term assets.

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

Polestar Automotive Holding UK PLC (PSNY) invested $158.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Polestar Automotive Holding UK PLC have outstanding?

Polestar Automotive Holding UK PLC (PSNY) had 2.75B shares outstanding as of fiscal year 2025.

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

Polestar Automotive Holding UK PLC (PSNY) had a current ratio of 0.43 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

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

Polestar Automotive Holding UK PLC (PSNY) had a return on assets of -60.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Polestar Automotive Holding UK PLC's P/E ratio?

Polestar Automotive Holding UK PLC (PSNY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.3B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Polestar Automotive Holding UK PLC's price-to-sales ratio?

Polestar Automotive Holding UK PLC (PSNY) trades at 0.4x sales, its market capitalization divided by revenue of $3.1B revenue, FY2025. The market capitalization is $1.3B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Polestar Automotive Holding UK PLC's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Polestar Automotive Holding UK PLC (PSNY) held $1.2B in cash, cash equivalents and investments, and reported an operating cash outflow of $915.0M over that year. Dividing the one by the other, the reported balance equals about 15 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

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

Polestar Automotive Holding UK PLC (PSNY) has negative shareholder equity of -$5.1B as of fiscal year 2025, 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 PLC's Piotroski F-Score?

Polestar Automotive Holding UK PLC (PSNY) 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 PLC's earnings high quality?

Polestar Automotive Holding UK PLC (PSNY) reported a net loss of $2.4B while operations used $915.0M 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.

How financially healthy is Polestar Automotive Holding UK PLC?

Polestar Automotive Holding UK PLC (PSNY) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.