Polestar Automotive Holding UK PLC financial statements
Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Polestar Automotive Holding UK PLC files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2022
FY2022
FY2023
FY2024
Revenue
610
1,344
2,441
2,368
2,034
Cost of revenue
554
1,333
2,340
2,778
2,910
Gross profit
56.5
11.1
101
-410
-876
Research and development
184
234
175
157
38.4
Selling, general and administrative
315
687
840
944
891
Operating income
-961
-1,287
-1,470
-1,813
Interest expense
34
45.2
108
213
394
Interest income
3.2
33
8.55
69.6
23.9
Pre-tax income
-471
-973
-449
-1,191
-2,059
Income tax
13.5
-3.08
29.8
-9.45
-9.17
Net income
-485
-970
-479
-1,182
-2,050
EBITDA
-749
-1,146
-1,354
-1,758
EPS, basic
-0.29
-0.51
-0.24
-0.56
-0.97
EPS, diluted
-0.29
-0.51
-0.24
-0.56
-0.97
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
Cash and equivalents
316
757
974
768
739
Inventory
546
630
928
1,079
Total current assets
1,607
2,147
2,273
2,298
Property, plant and equipment
208
352
476
Lease right-of-use assets
121
97.2
70.2
56.1
Intangible assets
1,312
1,345
1,368
995
Total assets
3,310
4,010
4,292
4,054
Total current liabilities
3,041
3,187
3,623
4,741
Lease liabilities
66.6
31.3
54.4
47.9
Total liabilities
3,187
4,100
5,543
7,383
Total debt
642
1,327
2,027
Retained earnings
-1,762
-3,727
Total equity
-603
-184
-89.9
-1,251
-3,329
Total liabilities and equity
3,310
4,010
4,292
4,054
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
Net income
-485
-970
-479
-1,182
-2,050
Depreciation and amortization
216
212
141
115
55.7
Cash from operations
-57.1
-324
-1,081
-1,894
-991
Capital expenditures
-49.6
-24.7
-32.3
-137
-148
Cash from investing
-244
-127
-709
-418
-413
Debt repaid
-1,436
-2,553
-2,890
Stock issued
438
582
1,418
0
0
Cash from financing
360
919
2,074
2,104
1,424
Exchange rate effect
21.3
-27.5
-67
1.49
-49.4
Net change in cash
80.2
440
217
-206
-29
Free cash flow
-107
-349
-1,113
-2,031
-1,139
Interest paid
30.2
12.6
68.1
220
293
Income taxes paid
0
0
19.6
35.5
8.16
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $6.64 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-43.1%
Gross profit / revenue.
Operating margin
-89.1%
Operating income / revenue.
EBITDA margin
-86.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-101.2%
Pre-tax income / revenue.
Net margin
-100.8%
Net income / revenue.
FCF margin
-56.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-48.7%
Cash from operations / revenue.
Return on assets (ROA)
-49.1%
Net income / average total assets.
R&D / revenue
1.9%
Research and development expense / revenue.
SG&A / revenue
43.8%
Selling, general and administrative expense / revenue.
Capex / revenue
7.3%
Capital expenditures / revenue.
D&A / revenue
2.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-14.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
14.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-5.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
7.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.48x
Current assets / current liabilities.
Quick ratio
0.16x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.16x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
182.1%
Total liabilities / total assets.
Interest coverage
-4.60x
Operating income / interest expense.
Working capital
-$2.44B
Current assets - current liabilities.
Goodwill and intangibles / assets
24.5%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.49x
Revenue / average total assets.
Inventory turnover
2.90x
Cost of revenue / average inventory.
Days inventory
126 days
365 x average inventory / cost of revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.97
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.97
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$1.09B
Share price x shares outstanding.
Enterprise value
$351.6M
Market cap + total debt - cash - short-term investments.
P/S
0.54x
Market cap / revenue.
EV/Sales
0.17x
Enterprise value / revenue.
FCF yield
-104.4%
Free cash flow / market cap.
Earnings yield
-187.9%
Net income / market cap (the inverse of P/E).
What was Polestar Automotive Holding UK PLC's revenue in fiscal 2024?
Polestar Automotive Holding UK PLC reported revenue of $2.03B for fiscal 2024, 14.1% lower than the year before.
Was Polestar Automotive Holding UK PLC profitable in fiscal 2024?
No. It reported a net loss of $2.05B.
How much free cash flow did Polestar Automotive Holding UK PLC generate in fiscal 2024?
Cash from operations of $991.2M minus capital expenditures of $147.9M left free cash flow of -$1.14B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.