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Stock research / United States / HOG · Motorcycles, Bicycles & Parts · NYSE

Harley-Davidson, Inc. (HOG)

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Harley-Davidson, Inc. (HOG) reported revenue of $1.2 billion for Q2 FY2026, the quarter ended 30 June 2026, down 5.9% on the same quarter a year earlier. Net income was $80 million, down 25.8% on the year, and diluted earnings per share $0.75. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$1.2 billiondown 5.9%
Net income$80 milliondown 25.8%
Diluted EPS$0.75
QuarterQ2 FY2026ended 30 June 2026

Harley-Davidson (HOG) in brief

Harley-Davidson (HOG) reported revenue of $4.5 billion for fiscal 2025, the year ended 31 December 2025, down 13.8% on the year before.
Read moreNet income was $339 million and diluted earnings per share $2.78. Revenue was $5.2 billion in fiscal 2024, $5.8 billion in fiscal 2023, $5.8 billion in fiscal 2022 and $5.3 billion in fiscal 2021. Net income in the same years was $455 million, $707 million, $741 million and $650 million. Over the twelve months to 30 June 2026, Harley-Davidson reported revenue of $4.2 billion and net income of $203 million. Revenue grew 2.0% a year, compounded, over the five years to fiscal 2025. Harley-Davidson declared $0.72 a share in dividends over the last four quarters and had 104 million shares outstanding at the latest filed count. At 30 June 2026 it carried $2.2 billion of debt and $1.9 billion of cash. At the close of 8 October 2026 the market cap of Harley-Davidson was $2.8 billion, 16.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE6.5%
ROCE4.0%
Operating margin5.0%
Net margin4.8%
FCF margin-3.1%
Interest cover8.44
Debt to equity0.72
Cash conversion-0.00
Share count, 1 year-14.4%
Sales CAGR, 3 years-8.1%
Profit CAGR, 3 years-23.0%
EPS, TTM$1.63

At the close of 8 October 2026

Price$26.75
Market cap$2.8 billion
Stock P/E16.41
Price to book0.90
EV / EBITDA8.02
Dividend yield2.7%
Market cap / sales0.66
52-week high$28.45
52-week low$17.19
Price, 1 year-0.7%
Price CAGR, 3 years-4.2%
Price CAGR, 5 years-6.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the total debt Harley-Davidson, Inc. states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
HOGgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on HOG

Filings20 in twelve months: 11 current reports (8-K), about 5 officer or director change; 4 results of operations; 1 regulation fd disclosure; 1 shareholder vote; 1 other events
Planned insider sales12 Form 144 notices in twelve months, $1.3 million; latest 1 September 2026
Options tapeput/call 0.98 by open interest at the 8 October 2026 close; the straddle prices a 5.5% move to 16 October 2026
13F holders9 of the followed funds hold it; largest Geode Capital Management; 12 Schedule 13D or 13G filings in twelve months
Insider trading11 sales and 6 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest18.5 million shares short, 12.09 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,5491,0531,7301,6191,1516881,3291,3071,3414961,1731,230
Cost of revenue8936311,024924619440771751799422794809
Gross profit65642270669553224855855654274.6378421
Gross margin42%40%41%43%46%36%42%43%40%15%32%34%
SG&A301298293304274274256301293298302297
Operating income209-21.1263241106-193160112475-36123.576.0
Operating margin14%-2%15%15%9%-28%12%9%35%-73%2%6%
Interest expense7.77.77.77.77.77.77.77.710.27.93.63.6
Pre-tax income2384.6290264133-170178130492-34142.195.3
Tax rate18%-410%20%18%13%n/a27%19%24%n/a43%17%
Net income19925.8235218119-117133108377-27924.879.8
Net margin13%2%14%13%10%-17%10%8%28%-56%2%6%
Diluted EPS$1.38$0.18$1.72$1.63$0.91-$0.93$1.07$0.88$3.10-$2.44$0.22$0.75
Operating cash flow29648.1104474353133142368-92.6152-228168
Capital expenditure52.468.546.441.552.656.130.035.636.551.631.812.9
Free cash flow244-20.457.643230077.0112332-129100-260155
Buybacks69.812510810215010093.10.010016070.030.4
Dividends paid24.623.524.423.022.121.822.921.821.520.121.519.7
Shares outstanding139m136m135m132m127m124m121m122m118m112m105m104m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue6,2295,9955,9965,6475,7175,3624,0545,3365,7555,8365,1874,4734,240
Cost of revenue3,5433,3563,4263,2723,3523,2302,4363,2433,4043,3223,0062,7422,824
Gross profit2,6862,6392,5702,3752,3652,1321,6192,0932,3512,5142,1811,7311,416
Gross margin43.1%44.0%42.9%42.1%41.4%39.8%39.9%39.2%40.9%43.1%42.0%38.7%33.4%
Research and development138161172175192216202175159159n/an/an/a
Selling, general and administrative1,1601,2201,2141,1821,2581,1991,0511,0521,0801,1761,1451,1471,191
Operating income1,2811,1561,0468827145569.7823909779417387213
Operating margin20.6%19.3%17.4%15.6%12.5%10.4%0.2%15.4%15.8%13.3%8.0%8.6%5.0%
Interest expense4.212.129.731.030.931.131.131.031.230.830.733.425.3
Pre-tax income1,2831,1501,024864687557-15.7819931867517459288
Income tax439398332342155134-17.016919217272.013092.2
Effective tax rate34.2%34.6%32.4%39.6%22.6%24.0%n/a20.7%20.6%19.8%13.9%28.2%32.0%
Net income8457526925225314241.3650741707455339203
Net margin13.6%12.5%11.5%9.2%9.3%7.9%0.0%12.2%12.9%12.1%8.8%7.6%4.8%
Diluted EPS$3.88$3.69$3.83$3.02$3.19$2.68$0.01$4.19$4.96$4.87$3.44$2.78$1.63
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow1,1471,1001,1741,0051,2068681,1789765487551,064569-0.3
Capital expenditure232260256206214181131120152207197154133
Free cash flow9148409187999926871,047856397547867415-133
Free cash flow margin14.7%14.0%15.3%14.1%17.4%12.8%25.8%16.0%6.9%9.4%16.7%9.3%-3.1%
Cash from investing-745-916-393-562-662-508-66.8-459-773-512-3833,7793,602
Cash from financing-536-354-778-550-14.8-7121,374-1,885-202-175-572-3,010-3,453
Depreciation and amortisation179198210222265233186165152158161172177
Share-based compensation37.929.432.332.535.533.723.542.254.482.949.031.732.4
Buybacks6161,5374654653912978.011.6339364460353361
Dividends paid23824925225224623768.192.493.296.391.286.482.8
Dividend per share$1.10$1.24$1.40$1.46$1.48$1.50$0.44$0.60$0.63$0.66$0.69$0.72n/a
Diluted shares, weighted218m204m181m173m167m158m154m155m149m145m132m121m109m
Shares outstanding at period end212m185m176m168m160m152m153m154m146m136m124m112m104m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity2,9091,8401,9201,8441,7741,8041,7232,5532,9043,2533,1663,1413,099
Non-controlling interestn/an/an/an/an/an/an/a0.03.3-0.5-7.516.216.8
Depositsn/an/an/an/an/a0.080.0290317448551537516
Short-term borrowings7321,201n/an/an/an/an/an/an/an/an/an/an/a
Debt4,7735,6716,8307,0087,6207,4679,0176,9126,9127,1266,9602,9672,242
Operating lease liabilitiesn/an/an/an/an/a44.430.129.926.851.847.469.464.6
Other liabilities1,1141,2791,1401,1201,2721,2131,1611,2661,3291,2631,1651,3151,306
Total liabilities and equity9,5289,9919,8909,97310,66610,52812,01111,05111,49212,14111,8828,0457,246
Owned
Fixed assets883942982968904847744684690732757750691
Goodwill27.854.253.455.955.064.266.063.262.162.761.763.963.6
Intangible assetsn/a17.0n/an/an/an/an/a7.56.47.05.6n/an/a
Investments57.345.25.50.010.0n/an/an/an/an/an/an/an/a
Securities held for sale or to maturityn/an/an/an/an/a0.0n/an/an/an/an/a78.355.0
Loansn/an/an/an/an/an/an/a6,5727,1387,4987,2881,7012,099
Trading assets33.836.338.148.044.2n/an/an/an/an/an/an/an/a
Cash and equivalents9077227606881,2048343,2571,8751,4331,5341,5903,0921,896
Receivables248247285330306259143182252267234226302
Inventory449586500538556604523713951930746731501
Other assets6,9237,3417,2677,3457,5867,9207,2779559591,1101,1991,4031,638
Total assets9,5289,9919,8909,97310,66610,52812,01111,05111,49212,14111,8828,0457,246
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-2.9%2.0%-8.1%-5.2%
Profit growth, compounded-7.7%204.3%-23.0%-16.5%
Return on equity, average21.6%19.6%15.6%10.8%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Consumer Goods

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Colgate-Palmolive Co. CL$70.2 billion34.96863.6%14.9%5.2%33.152.4%
Haleon plc HLN *$41.4 billion18.9110.1%21.9%-1.8%0.521.9%
Estee Lauder Companies Inc. EL$34.4 billion188.644.8%5.2%5.0%1.921.5%
Kenvue Inc. KVUE$34.0 billion20.3815.7%17.1%1.8%0.804.7%
SharkNinja, Inc. SN$26.1 billion51.6417.9%11.2%n/a0.240.6%
Church & Dwight Co. Inc. CHD$22.9 billion31.1117.1%17.5%2.7%0.511.2%
Somnigroup International Inc. SGI$13.0 billion24.7016.5%12.5%27.1%1.331.0%
Clorox Co. CLX$10.1 billion17.31652.2%n/a-5.4%44.245.9%
A. O. Smith Corp. AOS$7.8 billion15.7127.2%17.5%0.4%0.322.4%
e.l.f. Beauty, Inc. ELF$6.2 billion105.965.1%7.2%31.2%0.71n/a
Harley-Davidson, Inc. HOG$2.8 billion16.416.5%5.0%-5.2%0.722.7%
Whirlpool Corp. WHR$1.9 billion9.994.8%4.2%-3.9%1.7418.2%
All 15 in Consumer Goods
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Procter & Gamble Co. PG$350.0 billion22.7529.5%22.7%3.3%0.422.8%
Unilever plc UL *$135.1 billion12.7361.0%17.9%-3.8%1.683.7%
Ecolab Inc. ECL$79.0 billion37.8121.0%16.9%7.1%1.181.0%
Colgate-Palmolive Co. CL$70.2 billion34.96863.6%14.9%5.2%33.152.4%
Haleon plc HLN *$41.4 billion18.9110.1%21.9%-1.8%0.521.9%
Estee Lauder Companies Inc. EL$34.4 billion188.644.8%5.2%5.0%1.921.5%
Kenvue Inc. KVUE$34.0 billion20.3815.7%17.1%1.8%0.804.7%
SharkNinja, Inc. SN$26.1 billion51.6417.9%11.2%n/a0.240.6%
Church & Dwight Co. Inc. CHD$22.9 billion31.1117.1%17.5%2.7%0.511.2%
Somnigroup International Inc. SGI$13.0 billion24.7016.5%12.5%27.1%1.331.0%
Clorox Co. CLX$10.1 billion17.31652.2%n/a-5.4%44.245.9%
A. O. Smith Corp. AOS$7.8 billion15.7127.2%17.5%0.4%0.322.4%
e.l.f. Beauty, Inc. ELF$6.2 billion105.965.1%7.2%31.2%0.71n/a
Harley-Davidson, Inc. HOG$2.8 billion16.416.5%5.0%-5.2%0.722.7%
Whirlpool Corp. WHR$1.9 billion9.994.8%4.2%-3.9%1.7418.2%
No other company here shares its SEC industry code (Motorcycles, Bicycles & Parts); these are the names nearest in size in its wider industry, Consumer Goods, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 20246 May 2024EDGAR

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