Income Statement Polaris Group

Stocks

6550

KYG7171A1085

Biotechnology & Medical Research

End-of-day quote Taiwan S.E. 2026-08-14			5-day change	1st Jan Change
10.95 ^TWD	-1.35%		-1.35%	-64.79%

05-13	Polaris Group Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
03-13	Polaris Group Reports Earnings Results for the Full Year Ended December 31, 2025	CI

bcc5014d18a957d.LsJ1ezOL64b91go-bv41bmlrqNdY791WXn1ViHqc8-E.R7YvNUvm28mymWN2AZljNwFS5-QTlq4iBA9k-hDYka9kgyM2A7qyzrihMg

Published financial data: POLARIS GROUP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	15.04M	6.44M	7.48M	107M	40.6M
Total Revenues	15.04M	6.44M	7.48M	107M	40.6M
Cost of Goods Sold, Total	12.94M	5.02M	10.55M	184M	311M
Gross Profit	2.1M	1.42M	-3.06M	-76.92M	-270M
Selling General & Admin Expenses, Total	180M	235M	307M	365M	346M
Provision for Bad Debts	-	-	-	115K	-115K
R&D Expenses	554M	924M	1.54B	2.19B	2.26B
Other Operating Expenses, Total	734M	1.16B	1.84B	2.56B	2.61B
Operating Income	-732M	-1.16B	-1.85B	-2.63B	-2.88B
Interest Expense, Total	-14.67M	-11.05M	-32.59M	-57.06M	-99.36M
Interest And Investment Income	7.89M	64.74M	304M	144M	71.71M
Net Interest Expenses	-6.78M	53.69M	271M	87.24M	-27.65M
Income (Loss) On Equity Invest.	-9.2M	-8.76M	-19.04M	-	-12.17M
Currency Exchange Gains (Loss)	349K	-19.04M	2.4M	-2.33M	6.34M
Other Non Operating Income (Expenses)	1.05M	5.16M	16.83M	7.39M	-2.39M
EBT, Excl. Unusual Items	-747M	-1.13B	-1.58B	-2.54B	-2.91B
Gain (Loss) On Sale Of Investments	16.76M	-18.41M	55.28M	612K	-
Gain (Loss) On Sale Of Assets	-	-	-55.89M	-3.57M	48.92M
Asset Writedown	-75.37M	-	-	-	-1.08B
Other Unusual Items	65.4M	-	-	-	-
EBT, Incl. Unusual Items	-740M	-1.14B	-1.58B	-2.55B	-3.94B
Income Tax Expense	777K	5.53M	15.55M	5.21M	390K
Earnings From Continuing Operations	-740M	-1.15B	-1.59B	-2.55B	-3.95B
Net Income to Company	-740M	-1.15B	-1.59B	-2.55B	-3.95B
Minority Interest	-	-	15.37M	48.11M	17.97M
Net Income - (IS)	-740M	-1.15B	-1.58B	-2.5B	-3.93B
Net Income to Common Incl Extra Items	-740M	-1.15B	-1.58B	-2.5B	-3.93B
Net Income to Common Excl. Extra Items	-740M	-1.15B	-1.58B	-2.5B	-3.93B
Per Share Items
Net EPS - Basic	-1.09	-1.57	-2.12	-3.35	-5.1
Basic EPS - Continuing Operations	-1.09	-1.57	-2.12	-3.35	-5.1
Basic Weighted Average Shares Outstanding	680M	733M	743M	747M	771M
Net EPS - Diluted	-1.09	-1.57	-2.12	-3.35	-5.1
Diluted EPS - Continuing Operations	-1.09	-1.57	-2.12	-3.35	-5.1
Diluted Weighted Average Shares Outstanding	680M	733M	743M	747M	771M
Normalized Basic EPS	-0.69	-0.96	-1.3	-2.06	-2.34
Normalized Diluted EPS	-0.69	-0.96	-1.3	-2.06	-2.34
Supplemental Items
EBITDA	-598M	-1.05B	-1.75B	-2.47B	-2.65B
EBITA	-732M	-1.16B	-1.85B	-2.63B	-2.88B
EBIT	-732M	-1.16B	-1.85B	-2.63B	-2.88B
EBITDAR	-597M	-1.04B	-1.75B	-2.47B	-2.64B
Effective Tax Rate - (Ratio)	-0.1	-0.48	-0.99	-0.2	-0.01
Total Current Taxes	777K	5.53M	15.55M	5.21M	390K
Normalized Net Income	-467M	-704M	-970M	-1.54B	-1.8B
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	2.24M	3.76M	5.18M	5.72M	5.19M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	34.85M	35.91M
General and Administrative Expenses	180M	235M	307M	331M	310M
Research And Development Expense From Footnotes	554M	924M	1.54B	2.19B	2.26B
Net Rental Expense, Total	866K	1.23M	3.96M	3.62M	4.99M
Imputed Operating Lease Interest Expense	267K	266K	1.31M	1.05M	1.84M
Imputed Operating Lease Depreciation	599K	967K	2.65M	2.58M	3.15M
Stock-Based Comp., COGS (Total)	-	-	-	4.9M	13.73M
Stock-Based Comp., Other (Total)	48.03M	37.51M	177M	168M	101M
Total Stock-Based Compensation	48.03M	37.51M	177M	173M	115M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	5.88B	7.22B	3.62B	1.95B	1.83B
Short Term Investments	-	-	111M	6.8M	-
Trading Asset Securities, Total	114M	156M	177M	-	-
Total Cash And Short Term Investments	5.99B	7.38B	3.9B	1.95B	1.83B
Accounts Receivable, Total	4.93M	461K	5.12M	2.7M	2.55M
Other Receivables	418K	60K	20.03M	21.78M	32.31M
Total Receivables	5.35M	521K	25.14M	24.49M	34.86M
Inventory	-	-	36.36M	67.41M	123M
Prepaid Expenses	18.95M	154M	87.95M	86.56M	79.07M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	334M	5.16M	1.05B	1.19B	950M
Total Current Assets	6.35B	7.54B	5.11B	3.33B	3.02B
Gross Property Plant And Equipment	2.2B	2.6B	3.06B	4.61B	5.51B
Accumulated Depreciation	-836M	-1.01B	-1.46B	-1.64B	-1.77B
Net Property Plant And Equipment	1.36B	1.59B	1.6B	2.97B	3.74B
Long-term Investments	62.35M	60.12M	-	-	208M
Goodwill	-	-	2.07B	755M	0
Other Intangibles, Total	381K	174K	40.35M	40.26M	1.44M
Deferred Charges Long-Term	-	-	-	1.38B	761M
Other Long-Term Assets, Total	45.19M	31.22M	286M	618M	439M
Total Assets	7.82B	9.22B	9.1B	9.09B	8.17B
Liabilities
Accounts Payable, Total	-	-	2.14M	2.32M	9.12M
Accrued Expenses, Total	114M	78.09M	105M	141M	239M
Short-term Borrowings	278M	-	675M	96.07M	42.79M
Current Portion of Long-Term Debt	-	88.14M	31.14M	23.48M	38.92M
Current Portion of Leases	20.17M	32.64M	40.39M	42.44M	26.34M
Unearned Revenue Current, Total	-	-	10.06M	25.07M	8M
Other Current Liabilities	24.73M	51.97M	96.07M	139M	222M
Total Current Liabilities	437M	251M	959M	469M	586M
Long-Term Debt	117M	30.85M	353M	1.62B	2.09B
Long-Term Leases	21.37M	231M	98.63M	178M	150M
Unearned Revenue Non Current	32.82M	32.51M	31.13M	31.42M	30.72M
Other Non Current Liabilities	-	-	22.68M	19.32M	15.96M
Total Liabilities	608M	545M	1.46B	2.32B	2.87B
Common Stock, Total	7.19B	7.42B	7.44B	7.7B	8.6B
Additional Paid In Capital	9.82B	11.48B	11.7B	12.83B	14.73B
Retained Earnings	-9.42B	-10.57B	-12.15B	-14.57B	-18.49B
Comprehensive Income and Other	-376M	350M	381M	732M	460M
Total Common Equity	7.21B	8.67B	7.37B	6.7B	5.3B
Minority Interest	-	-	267M	75.18M	-
Total Equity	7.21B	8.67B	7.63B	6.77B	5.3B
Total Liabilities And Equity	7.82B	9.22B	9.1B	9.09B	8.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	719M	742M	744M	770M	860M
ECS Total Common Shares Outstanding	719M	742M	744M	770M	860M
Book Value / Share	10.04	11.69	9.9	8.69	6.16
Tangible Book Value	7.21B	8.67B	5.26B	5.9B	5.29B
Tangible Book Value Per Share	10.03	11.69	7.07	7.66	6.16
Total Debt	437M	383M	1.2B	1.96B	2.35B
Net Debt	-5.55B	-7B	-2.71B	9.19M	517M
Debt Equivalent Oper. Leases	6.93M	9.86M	31.66M	28.99M	39.93M
Minority Interest, Total (Incl. Fin. Div)	-	-	267M	75.18M	-
Equity Method Investments, Total	62.35M	60.12M	-	-	208M
Account Code - Inventory Valuation	3	3	6	6	6
Inventories - Raw Materials, Total	-	-	17.16M	20.67M	76.36M
Inventories - Work In Process, Total	-	-	12.88M	17.8M	13.77M
Inventories - Finished Goods, Total	-	-	13.51M	50.72M	52.76M
Land - (BS)	164M	181M	50M	53.39M	51.18M
Buildings, Total	981M	996M	1.04B	1.75B	2.16B
Machinery, Total	593M	679M	1.26B	1.64B	2.17B
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	458K	115K	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-740M	-1.15B	-1.58B	-2.5B	-3.93B
Depreciation & Amortization - CF	154M	144M	134M	207M	274M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	1.59M	2.77M	411K
Depreciation & Amortization, Total	154M	144M	135M	209M	274M
Amortization of Deferred Charges, Total - (CF)	210K	213K	174K	106M	102M
(Gain) Loss From Sale Of Asset	409K	570K	55.89M	3.57M	-48.92M
(Gain) Loss on Sale of Investments - (CF)	-16.76M	18.41M	-55.28M	-612K	-
Asset Writedown & Restructuring Costs	75.37M	-	-	-	1.08B
(Income) Loss On Equity Investments - (CF)	9.2M	8.76M	19.04M	-	12.17M
Stock-Based Compensation (CF)	48.03M	37.51M	177M	173M	115M
Provision and Write-off of Bad Debts	-	-	-	-343K	-115K
Other Operating Activities, Total	-64.19M	-3.42M	-13.11M	-50.27M	-15.34M
Change In Accounts Receivable	-2.61M	4.47M	3.91M	2.76M	235K
Change In Inventories	-	-	-7.5M	-31.02M	-57.64M
Change In Accounts Payable	2.03M	18.66M	-1.25M	182K	6.8M
Change in Unearned Revenues	-	-	-815K	15.01M	-17.07M
Change in Other Net Operating Assets	-4.31M	-107M	7.55M	49.33M	82.64M
Cash from Operations	-539M	-1.03B	-1.26B	-2.03B	-2.39B
Capital Expenditure	-204M	-69.63M	-333M	-1.66B	-794M
Sale of Property, Plant, and Equipment	-	172K	1.03M	9.88M	-
Cash Acquisitions	-	-	-1.34B	-144M	-
Sale (Purchase) of Intangible assets	-	-	-	-	-1.45M
Investment in Marketable and Equity Securities, Total	1.23B	284M	-1.56B	164M	152M
Other Investing Activities, Total	-5.96M	-15.32M	81K	4.95M	-15.92M
Cash from Investing	1.02B	200M	-3.24B	-1.63B	-660M
Short Term Debt Issued, Total	276M	-	691M	96.07M	1.37B
Long-Term Debt Issued, Total	29.66M	-	325M	680M	1.02B
Total Debt Issued	305M	-	1.02B	776M	2.39B
Short Term Debt Repaid, Total	-21.4M	-299M	-	-93.71M	-1.48B
Long-Term Debt Repaid, Total	-105M	-28.49M	-155M	-54.53M	-635M
Total Debt Repaid	-127M	-328M	-155M	-148M	-2.11B
Issuance of Common Stock	5.17B	1.81B	58.25M	1.22B	2.69B
Cash from Financing	5.35B	1.48B	919M	1.85B	2.96B
Foreign Exchange Rate Adjustments	-104M	692M	-37.59M	135M	-23.1M
Net Change in Cash	5.73B	1.35B	-3.61B	-1.67B	-116M
Supplemental Items
Cash Interest Paid	12.65M	12.84M	29.31M	57.61M	91.41M
Cash Income Tax Paid (Refund)	777K	5.53M	15.55M	5.21M	390K
Levered Free Cash Flow	-785M	-428M	-2.15B	-2.94B	-1.81B
Unlevered Free Cash Flow	-775M	-421M	-2.13B	-2.9B	-1.75B
Change In Net Working Capital	316M	-190M	960M	76.19M	-356M
Net Debt Issued / Repaid	179M	-328M	861M	628M	276M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-8.18	-8.49	-12.6	-18.07	-20.85
Return on Total Capital	-8.43	-8.66	-12.91	-18.71	-21.97
Return On Equity %	-14.67	-14.48	-19.53	-35.32	-65.39
Return on Common Equity	-14.67	-14.48	-19.66	-35.5	-65.5
Margin Analysis
Gross Profit Margin %	13.94	21.98	-40.97	-71.89	-665.79
SG&A Margin	1.19K	3.65K	4.11K	341.47	852.44
EBITDA Margin %	-3.98K	-16.24K	-23.42K	-2.31K	-6.52K
EBITA Margin %	-4.87K	-17.98K	-24.67K	-2.46K	-7.09K
EBIT Margin %	-4.87K	-17.98K	-24.69K	-2.46K	-7.09K
Income From Continuing Operations Margin %	-4.92K	-17.87K	-21.28K	-2.38K	-9.72K
Net Income Margin %	-4.92K	-17.87K	-21.08K	-2.34K	-9.67K
Net Avail. For Common Margin %	-4.92K	-17.87K	-21.08K	-2.34K	-9.67K
Normalized Net Income Margin	-3.1K	-10.93K	-12.96K	-1.44K	-4.44K
Levered Free Cash Flow Margin	-5.22K	-6.65K	-28.8K	-2.74K	-4.46K
Unlevered Free Cash Flow Margin	-5.16K	-6.55K	-28.53K	-2.71K	-4.3K
Asset Turnover
Asset Turnover	0	0	0	0.01	0
Fixed Assets Turnover	0.01	0	0	0.05	0.01
Receivables Turnover (Average Receivables)	4.15	2.39	2.68	27.36	15.45
Inventory Turnover (Average Inventory)	-	-	-	3.55	3.27
Short Term Liquidity
Current Ratio	14.54	30.06	5.32	7.09	5.15
Quick Ratio	13.73	29.43	4.09	4.22	3.18
Operating Cash Flow to Current Liabilities	-1.23	-4.1	-1.31	-4.32	-4.09
Days Sales Outstanding (Average Receivables)	87.92	152.8	136.12	13.38	23.63
Days Outstanding Inventory (Average Inventory)	-	-	-	103.24	111.5
Average Days Payable Outstanding	-	-	-	3.8	5.71
Cash Conversion Cycle (Average Days)	-	-	-	112.82	129.43
Long Term Solvency
Total Debt/Equity	6.05	4.41	15.7	28.98	44.32
Total Debt / Total Capital	5.71	4.22	13.57	22.47	30.71
LT Debt/Equity	1.92	3.02	5.92	26.59	42.28
Long-Term Debt / Total Capital	1.81	2.89	5.11	20.61	29.3
Total Liabilities / Total Assets	7.78	5.91	16.1	25.52	35.16
EBIT / Interest Expense	-49.88	-104.75	-56.68	-46.18	-28.97
EBITDA / Interest Expense	-39.39	-91.76	-52.53	-42.51	-26.21
(EBITDA - Capex) / Interest Expense	-53.32	-98.06	-62.75	-71.68	-34.2
Total Debt / EBITDA	-0.76	-0.38	-0.7	-0.81	-0.9
Net Debt / EBITDA	9.61	6.9	1.58	-0	-0.2
Total Debt / (EBITDA - Capex)	-0.56	-0.35	-0.59	-0.48	-0.69
Net Debt / (EBITDA - Capex)	7.1	6.46	1.32	-0	-0.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	59.84	-57.19	16.18	1.33K	-62.05
Gross Profit, 1 Yr. Growth %	-13.74	-32.52	-316.61	2.41K	251.42
EBITDA, 1 Yr. Growth %	5.9	74.91	67.51	40.45	7.1
EBITA, 1 Yr. Growth %	7.94	58.15	59.43	41.96	9.35
EBIT, 1 Yr. Growth %	7.94	58.15	59.57	41.99	9.25
Earnings From Cont. Operations, 1 Yr. Growth %	12.16	55.36	38.39	69.18	54.66
Net Income, 1 Yr. Growth %	12.16	55.36	37.05	67.7	56.92
Normalized Net Income, 1 Yr. Growth %	13.19	50.9	37.71	58.05	17.04
Diluted EPS Before Extra, 1 Yr. Growth %	7.67	44.23	35.12	66.83	52.09
Accounts Receivable, 1 Yr. Growth %	112.87	-90.65	1.01K	-47.18	-5.58
Inventory, 1 Yr. Growth %	-	-	-	85.41	81.83
Net Property, Plant and Equip., 1 Yr. Growth %	-3.29	16.37	0.8	85.42	26.09
Total Assets, 1 Yr. Growth %	132.64	17.86	-1.32	-0.51	-10.15
Tangible Book Value, 1 Yr. Growth %	150.39	20.25	-39.36	-11.38	-10.26
Common Equity, 1 Yr. Growth %	150.35	20.24	-15.08	-9.58	-20.9
Cash From Operations, 1 Yr. Growth %	-7.94	90.83	22	61.36	18.19
Capital Expenditures, 1 Yr. Growth %	300.33	-65.92	378.47	399.65	-52.31
Levered Free Cash Flow, 1 Yr. Growth %	102.59	-45.4	402.97	36.42	-38.35
Unlevered Free Cash Flow, 1 Yr. Growth %	101.9	-45.65	406.38	36.05	-39.73
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-17.28	-29.48	307.65	132.97
Gross Profit, 2 Yr. CAGR %	-	-23.71	20.9	637.31	839.13
EBITDA, 2 Yr. CAGR %	-6.73	36.1	71.17	53.76	22.64
EBITA, 2 Yr. CAGR %	-4.06	30.66	58.79	50.79	24.59
EBIT, 2 Yr. CAGR %	-4.06	30.66	58.86	50.87	24.55
Earnings From Cont. Operations, 2 Yr. CAGR %	-5.53	32	46.63	48.9	61.76
Net Income, 2 Yr. CAGR %	-5.53	32	45.92	47.49	62.22
Normalized Net Income, 2 Yr. CAGR %	-5.1	30.69	44.16	47.94	36.01
Diluted EPS Before Extra, 2 Yr. CAGR %	-33.52	24.62	39.6	46.07	59.29
Accounts Receivable, 2 Yr. CAGR %	-	-55.38	1.9	142.19	-29.38
Inventory, 2 Yr. CAGR %	-	-	-	-	83.61
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.5	6.08	8.31	36.71	52.9
Total Assets, 2 Yr. CAGR %	38.02	65.59	7.85	-0.7	-5.45
Tangible Book Value, 2 Yr. CAGR %	41.37	73.52	-14.61	-17.53	-10.82
Common Equity, 2 Yr. CAGR %	41.37	73.5	1.05	-12.14	-15.43
Cash From Operations, 2 Yr. CAGR %	-15.1	32.54	52.58	40.3	38.1
Capital Expenditures, 2 Yr. CAGR %	101.83	16.8	27.69	388.95	54.36
Levered Free Cash Flow, 2 Yr. CAGR %	32.65	5.17	65.71	161.75	-8.29
Unlevered Free Cash Flow, 2 Yr. CAGR %	35.28	4.76	65.9	162.28	-9.45
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-7.36	92.32	84.75
Gross Profit, 3 Yr. CAGR %	-	-	8.03	232.27	475.94
EBITDA, 3 Yr. CAGR %	-12.84	15.01	45.85	60.51	36.3
EBITA, 3 Yr. CAGR %	-10.12	13.33	39.62	53.21	35.48
EBIT, 3 Yr. CAGR %	-10.29	13.33	39.66	53.26	35.48
Earnings From Cont. Operations, 3 Yr. CAGR %	-10.48	11.51	34.1	51.03	50.8
Net Income, 3 Yr. CAGR %	-10.48	11.51	33.67	50.07	50.57
Normalized Net Income, 3 Yr. CAGR %	-10.24	10.76	32.99	48.92	36.83
Diluted EPS Before Extra, 3 Yr. CAGR %	-34.14	-13.94	28.02	45.45	48.05
Accounts Receivable, 3 Yr. CAGR %	-	-	30.26	-18.14	76.92
Net Property, Plant and Equip., 3 Yr. CAGR %	-2.6	3.42	4.29	29.57	33.08
Total Assets, 3 Yr. CAGR %	58.2	30.94	39.35	5.14	-3.96
Tangible Book Value, 3 Yr. CAGR %	128.07	33.94	22.22	-6.48	-15.17
Common Equity, 3 Yr. CAGR %	124.15	33.94	36.73	-2.46	-15.16
Cash From Operations, 3 Yr. CAGR %	-11.52	11.21	28.93	55.45	32.51
Capital Expenditures, 3 Yr. CAGR %	67.83	11.55	86.89	101.21	125.06
Levered Free Cash Flow, 3 Yr. CAGR %	28.3	-1.33	77.19	55.23	61.65
Unlevered Free Cash Flow, 3 Yr. CAGR %	30.41	-0.18	77.12	55.21	60.64
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	33.97
Gross Profit, 5 Yr. CAGR %	-	-	-	-	156.58
EBITDA, 5 Yr. CAGR %	-6.13	7.46	14.17	29.18	36.22
EBITA, 5 Yr. CAGR %	-4.69	6.97	12.86	27.05	33.53
EBIT, 5 Yr. CAGR %	-5.05	6.53	12.75	27.07	33.53
Earnings From Cont. Operations, 5 Yr. CAGR %	-5.5	5.07	9.05	25.18	42.98
Net Income, 5 Yr. CAGR %	-5.5	5.07	8.84	24.71	42.85
Normalized Net Income, 5 Yr. CAGR %	-5.3	4.65	8.49	24.36	34.34
Diluted EPS Before Extra, 5 Yr. CAGR %	-25.53	-16.73	-11.05	6.34	38.19
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	1.97
Net Property, Plant and Equip., 5 Yr. CAGR %	-2.32	1.87	1.63	15.63	21.54
Total Assets, 5 Yr. CAGR %	31.75	32.92	35.72	17.23	19.42
Tangible Book Value, 5 Yr. CAGR %	115.09	55.03	53.96	10.33	12.94
Common Equity, 5 Yr. CAGR %	101.92	53.79	62.98	13.15	12.95
Cash From Operations, 5 Yr. CAGR %	-7.17	7.76	10.03	22.05	32.52
Capital Expenditures, 5 Yr. CAGR %	-7.7	27.58	50.45	101.46	73.12
Levered Free Cash Flow, 5 Yr. CAGR %	4.09	4.26	42.13	45.77	36.11
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.89	5.69	43.59	46.9	35.39