Polestar Automotive Holding Uk Plc Adr (PSNY)
NASDAQ:PSNY
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Polestar Automotive Holding UK
(NASDAQ:PSNY)
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Rating:42Neutral
Price Target:
$18.00
▼(-11.76% Downside)
Action:Reiterated
Date:06/06/26
The score is held down mainly by weak financial performance: persistent losses, negative gross profit, heavy cash burn, and a highly stressed balance sheet with negative equity and rising debt. Technicals are also soft with the stock trading below key moving averages and negative/weak momentum indicators. Valuation provides limited offset because the negative P/E reflects ongoing unprofitability and there is no dividend yield data.
Positive Factors
Revenue Growth Momentum
A solid 2025 revenue rebound indicates improving demand and market traction for Polestar’s models. Sustained top-line growth supports higher capacity utilization, supplier leverage, and provides runway to invest in product development and distribution, improving odds of durable margin recovery if continued.
Negative Factors
Negative Gross Profit
Persistently negative gross profit signals the core vehicle economics are not yet viable at scale. Until gross margins turn sustainably positive, the business will struggle to cover operating costs and fund growth internally, making long-term profitability dependent on structural cost reduction or price changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
A solid 2025 revenue rebound indicates improving demand and market traction for Polestar’s models. Sustained top-line growth supports higher capacity utilization, supplier leverage, and provides runway to invest in product development and distribution, improving odds of durable margin recovery if continued.
Read all positive factors
Polestar Automotive Holding UK (PSNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.80B
Dividend YieldN/A
Average Volume (3M)142.09K
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue Growth50.33%
EPS Growth-1.26%
CountryUS
Employees2,547
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-32.10
Shares Outstanding91,507,720
10 Day Avg. Volume113,941
30 Day Avg. Volume142,093
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)-0.39
Price to Sales (P/S)0.65
P/FCF Ratio-1.89
Enterprise Value/Market Cap2.49
Enterprise Value/Revenue2.73
Enterprise Value/Gross Profit-8.40
Enterprise Value/Ebitda-16.67
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)-8.84
Revenue Forecast (FY)$3.71B
Polestar Automotive Holding UK Business Overview & Revenue Model
Company Description
Polestar Automotive Holding UK PLC, an enterprise established in 2017 and based in Gothenburg, Sweden, specializes in the production and global distribution of upscale electric automobiles....
How the Company Makes Money
Polestar primarily makes money by selling fully electric vehicles (the core revenue driver). Revenue is recognized from vehicle deliveries to customers, with pricing influenced by model mix, options/trim levels, and regional market conditions. In ...
Polestar Automotive Holding UK Earnings Call Summary
Earnings Call Date:Apr 17, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but improving picture. Operationally and commercially Polestar delivered several clear positives: record retail volumes, strong revenue growth (+50% YoY), meaningful margin improvements on an adjusted basis, a substantially expanded sales network, product and technology upgrades, and successful equity raises and debt‑to‑equity conversions that materially strengthen liquidity and the capital structure. However, material GAAP losses driven by sizable impairments (~USD 1.1B), ongoing adjusted EBITDA deficits (USD -783M), pricing pressure, tariffs and a weakened U.S. market represent significant headwinds. Management highlighted disciplined cost reductions, product cost improvements, and expectations for improved cash burn in 2026, but the legacy impairments and continued negative GAAP profitability balance the positive operational momentum.Positive Updates
Record Retail Sales and Volume Growth
Delivered over 60,100 cars in 2025, representing 34% year‑over‑year growth and in line with guidance of 30%–35%. Q4 retail sales exceeded ~15,600 cars (+27% YoY) and Q1 2026 retail sales totaled ~13,100 cars (a record first quarter, +7% YoY).
Negative Updates
Large Impairments Driving Negative GAAP Margins and Net Loss
Impairment charges of approximately USD 1.1 billion in 2025 (Polestar 2, Polestar 3 and internal development projects including Polestar 5) led to a reported gross margin of -35% and were the primary driver of the net loss for the year.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Retail Sales and Volume Growth
Delivered over 60,100 cars in 2025, representing 34% year‑over‑year growth and in line with guidance of 30%–35%. Q4 retail sales exceeded ~15,600 cars (+27% YoY) and Q1 2026 retail sales totaled ~13,100 cars (a record first quarter, +7% YoY).
Read all positive updates
Company Guidance
Polestar reiterated guidance for 2026 of low‑double‑digit retail sales growth (with progress through the year and seasonality) while growing its retail network to ~250 sales points by year‑end (≈+20% vs end‑2025) and shifting mix toward a larger share of the Polestar 4 group; product rollout guidance includes Polestar 5 deliveries beginning in summer and a new Polestar 4 variant launching in Q4, with four new models planned over the next three years. Management also expects carbon‑credit revenue to remain at a similar three‑digit‑million dollar level in 2026, expects cash burn to improve vs 2025 (2025 averaged roughly USD 120M), and points to strengthened liquidity from ~USD 1.2B cash at year‑end 2025, ~USD 1.2B of equity raised since June 2025 (including ~USD 1.0B since Dec 2025 at a $19.34 share price), planned shareholder‑loan conversions of roughly USD 639–640M (Geely Sweden ~USD 300M this quarter; Volvo to convert ~USD 65M to maintain ~19.9% ownership), ~USD 1.6B of new 12‑month facilities and renewals of ~USD 3B of facilities with amended covenants for 2026.Polestar Automotive Holding UK Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
12
Very Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.55B | 3.06B | 2.03B | 2.38B | 2.44B | 1.34B |
| Gross Profit | -828.47M | -1.08B | -876.17M | -413.08M | 119.44M | 11.06M |
| EBITDA | -417.20M | -1.93B | -1.67B | -826.89M | -229.51M | -716.10M |
| Net Income | -2.27B | -2.36B | -2.05B | -1.19B | -479.02M | -1.01B |
Balance Sheet | ||||||
| Total Assets | 3.64B | 3.93B | 4.05B | 4.12B | 3.94B | 3.31B |
| Cash, Cash Equivalents and Short-Term Investments | 718.63M | 1.18B | 739.24M | 768.93M | 973.88M | 757.93M |
| Total Debt | 5.65B | 6.49B | 5.01B | 3.58B | 1.44B | 825.41M |
| Total Liabilities | 7.91B | 9.05B | 7.38B | 5.38B | 4.08B | 3.19B |
| Stockholders Equity | -4.27B | -5.12B | -3.33B | -1.26B | -133.34M | 122.50M |
Cash Flow | ||||||
| Free Cash Flow | -1.47B | -1.05B | -1.35B | -2.03B | -1.80B | -441.83M |
| Operating Cash Flow | -1.32B | -889.56M | -991.21M | -1.89B | -1.09B | -312.16M |
| Investing Cash Flow | -379.15M | -520.68M | -412.56M | -417.62M | -715.97M | -129.67M |
| Financing Cash Flow | 1.67B | 1.69B | 1.42B | 2.10B | 2.09B | 909.57M |
Polestar Automotive Holding UK Technical Analysis
Negative
20.40
Price Trends
20.11
Negative
18.75
Positive
21.08
Negative
Market Momentum
-0.21
Positive
43.54
Neutral
39.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PSNY, the sentiment is Negative. The current price of 20.4 is below the 20-day moving average (MA) of 20.83, above the 50-day MA of 20.11, and below the 200-day MA of 21.08, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 43.54 is Neutral, neither overbought nor oversold. The STOCH value of 39.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PSNY.
Polestar Automotive Holding UK Risk Analysis
Polestar Automotive Holding UK disclosed 73 risk factors in its most recent earnings report. Polestar Automotive Holding UK reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Polestar Automotive Holding UK Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $21.12B | -5.95 | -69.98% | ― | 10.43% | 21.58% | |
50 Neutral | $14.86B | -55.57 | -2.49% | ― | -23.38% | -123.25% | |
49 Neutral | $14.07B | -42.30 | -7.56% | ― | 49.73% | 54.60% | |
47 Neutral | $13.30B | -9.69 | -328.93% | ― | 51.42% | 66.12% | |
45 Neutral | $2.03B | -0.51 | -193.02% | ― | 61.03% | -5.36% | |
42 Neutral | $2.80B | -0.76 | 54.91% | ― | 50.33% | -1.26% |
* Consumer Cyclical Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.