Harley-Davidson, Inc. (HOG)
Harley-Davidson, Inc. manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, Grand American touring, standard, sportbike, adventure touring, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services. This segment sells its products to retail customers through a network of independent dealers, as well as e-commerce channels. The LiveWire segment sells electric motorcycles, balance bikes for kids, electric bikes, parts and accessories, apparel, and related parts and services. The Harley-Davidson Financial Services segment provides wholesale financing services, such as floorplan and open-account financing of motorcycles, and parts and accessories; and retail financing services, such as installment lending for the purchase of new and used Harley-Davidson motorcycles, as well as point-of-sale insurance and voluntary protection products. This segment also licenses third-party financial institutions that issue credit cards bearing the Harley-Davidson brand. Harley-Davidson, Inc. was founded in 1903 and is based in Milwaukee, Wisconsin.
- Symbol
- HOG
- Exchange
- NYSE
- Sector
- Consumer Cyclical
- Industry
- Recreational Vehicles
- Market cap
- $2.74B
- 52 week range
- 17.09 - 29.88
Valuation
- Share price
- $25.98 (close of 2026-09-23)
- P/E (TTM)
- 14.07x
- Price to book
- 0.88x
- Price to free cash flow
- -20.56x
- Enterprise value
- $3.15B
- Book value per share
- $29.65
Price performance
| Period | Change |
|---|
| 1 day | -0.88% |
| 5 days | -5.77% |
| 1 month | -7.87% |
| 3 months | +1.56% |
| 6 months | +46.04% |
| Year to date | +26.79% |
| 1 year | -9.85% |
| 3 years | -20.31% |
| 5 years | -32.24% |
| 10 years | -50.53% |
| All time | +7541.18% |
Profitability and growth
- Return on equity
- 10.73%
- Return on invested capital
- 8.24%
- Return on assets
- 4.21%
- Return on capital employed
- 7.18%
- Gross margin
- 23.92%
- Net margin
- 9.40%
- EBITDA margin
- 15.51%
- Revenue growth
- -13.12%
- Net income growth
- -25.61%
- Free cash flow growth
- -52.12%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -4.86%
- Current ratio
- 1.90x
- Net debt to EBITDA
- 0.84x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $3.60B
- Cost of revenue
- $2.74B
- Gross profit
- $862.16M
- EBITDA
- $559.01M
- Net income
- $338.74M
- Earnings per share
- $2.82
- Shares outstanding
- 120.07M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $3.60B | $862.16M | $338.74M | $2.82 |
| 2024-12-31 | $4.15B | $1.14B | $455.36M | $3.46 |
| 2023-12-31 | $4.88B | $1.56B | $706.59M | $4.96 |
| 2022-12-31 | $4.93B | $1.53B | $741.41M | $5.01 |
| 2021-12-31 | $4.54B | $1.30B | $650.02M | $4.23 |
| 2020-12-31 | $3.26B | $828.31M | $1.30M | $0.01 |
| 2019-12-31 | $5.36B | $2.13B | $423.63M | $2.70 |
| 2018-12-31 | $5.72B | $2.37B | $531.45M | $3.21 |
| 2017-12-31 | $5.65B | $2.37B | $521.76M | $3.03 |
| 2016-12-31 | $6.00B | $2.57B | $692.16M | $3.85 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 23.92% | 9.40% | 10.73% | 8.24% |
| 2024-12-31 | 27.54% | 10.98% | 14.42% | 4.01% |
| 2023-12-31 | 31.96% | 14.47% | 21.73% | 6.81% |
| 2022-12-31 | 31.02% | 15.02% | 25.51% | 8.51% |
| 2021-12-31 | 28.57% | 14.32% | 25.46% | 9.53% |
| 2020-12-31 | 25.38% | 0.04% | 0.08% | 0.15% |
| 2019-12-31 | 39.76% | 7.90% | 23.48% | 4.97% |
| 2018-12-31 | 41.37% | 9.30% | 29.96% | 6.83% |
| 2017-12-31 | 42.05% | 9.24% | 28.29% | 6.63% |
| 2016-12-31 | 42.87% | 11.54% | 36.05% | 8.97% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $3.09B | $1.65B |
| 2024-12-31 | $1.59B | $4.47B |
| 2023-12-31 | $1.53B | $4.99B |
| 2022-12-31 | $1.43B | $4.46B |
| 2021-12-31 | $1.87B | $4.60B |
| 2020-12-31 | $3.26B | $5.93B |
| 2019-12-31 | $833.87M | $5.12B |
| 2018-12-31 | $1.20B | $4.89B |
| 2017-12-31 | $687.52M | $4.59B |
| 2016-12-31 | $765.50M | $4.67B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $415.24M | $31.75M |
| 2024-12-31 | $867.27M | $49.01M |
| 2023-12-31 | $547.48M | $82.90M |
| 2022-12-31 | $396.79M | $54.35M |
| 2021-12-31 | $855.52M | $42.16M |
| 2020-12-31 | $1.05B | $23.49M |
| 2019-12-31 | $686.83M | $33.73M |
| 2018-12-31 | $992.40M | $35.54M |
| 2017-12-31 | $798.77M | $32.49M |
| 2016-12-31 | $918.08M | $32.34M |
Dividend history
- Most recent payment
- 2026-09-15
- Paid in the last twelve months
- $0.74
| Payment date | Dividend per share |
|---|
| 2026-09-15 | $0.19 |
| 2026-06-08 | $0.19 |
| 2026-03-02 | $0.19 |
| 2025-12-09 | $0.18 |
| 2025-09-10 | $0.18 |
| 2025-06-02 | $0.18 |
| 2025-02-28 | $0.18 |
| 2024-12-10 | $0.17 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $0.43
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-23 | Jun/2026 | $0.62 |
| 2026-05-05 | - | - |
| 2026-02-10 | - | - |
| 2025-11-04 | - | - |
| 2025-07-30 | - | - |
| 2025-05-01 | - | - |
| 2025-02-05 | - | - |
| 2024-10-24 | - | - |
Filings and sources
- Company website
- harley-davidson.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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