Polestar Automotive Holding UK PLC
PSNYdata completeness 88%5 fiscal years on filei. The business — what you’d actually own
| Figure | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenue | $610.2M1 | $1.34B2 | $2.44B3 | $2.37B3 | $2.03B3 |
| Net income | −$484.9M4 | −$969.8M5 | −$479M6 | −$1.18B6 | −$2.05B6 |
| Operating cash flow | −$57.1M7 | −$324.1M8 | −$1.08B9 | −$1.89B9 | −$991.2M9 |
| Capital expenditure | $49.6M10 | $24.7M11 | $32.3M12 | $137.4M12 | $147.9M12 |
| Free cash flow (derived) | −$106.6M7 | −$348.8M8 | −$1.11B9 | −$2.03B9 | −$1.14B9 |
| Total debt | — | $642.3M13 | $1.33B14 | $2.03B14 | — |
| Cash & equivalents | $316.4M15 | $756.7M16 | $973.9M16 | $768.3M16 | $739.2M16 |
| Diluted shares | 1.68B | 1.91B | 2.03B | 2.11B | 2.11B |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$15.77
your share of equity
Profit it earned you last year
−$9.71
Free cash flow it threw off
−$5.4
Debt you’d be carrying
—
10 shares is a claim on −$15.77 of net worth that earned you −$9.71 and generated −$5.4 of cash last year.
iii. Is this a good business?
Moat signal · return on equity
— avg · 5y
Not enough data in the filings for a return-on-capital reading.
seeing a moat in the numbers →Management signal · capital allocation
+26% shares · 5y
Share count is up 26% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 216% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined
Different models answer different questions — which to trust when →
Sources — the receipts
- 20-F · period ending 2020-12-31 · accession 0001884082-23-000008 (Revenue)
- 20-F/A · period ending 2021-12-31 · accession 0001884082-25-000005 (Revenue)
- 20-F · period ending 2022-12-31 · accession 0001884082-25-000012 (Revenue)
- 20-F · period ending 2020-12-31 · accession 0001884082-23-000008 (ProfitLoss)
- 20-F/A · period ending 2021-12-31 · accession 0001884082-25-000005 (ProfitLoss)
- 20-F · period ending 2022-12-31 · accession 0001884082-25-000012 (ProfitLoss)
- 20-F · period ending 2020-12-31 · accession 0001884082-23-000008 (CashFlowsFromUsedInOperatingActivities)
- 20-F/A · period ending 2021-12-31 · accession 0001884082-25-000005 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001884082-25-000012 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2020-12-31 · accession 0001884082-23-000008 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F/A · period ending 2021-12-31 · accession 0001884082-25-000005 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0001884082-25-000012 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2021-12-31 · accession 0001884082-23-000008 (Borrowings)
- 20-F/A · period ending 2022-12-31 · accession 0001884082-25-000005 (Borrowings)
- 20-F/A · period ending 2020-12-31 · accession 0001884082-25-000005 (CashAndCashEquivalents)
- 20-F · period ending 2021-12-31 · accession 0001884082-25-000012 (CashAndCashEquivalents)