HOG · Harley-Davidson, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17B | - | $1.34B | $1.31B | $1.33B | - | $1.15B | $1.62B | $1.73B | - |
| Cost of Revenue | $794.13M | - | $798.68M | $750.79M | $770.78M | - | $618.58M | $924.01M | $1.02B | - |
| Gross Profit | $378.40M | - | $542.03M | $556.30M | $558.42M | - | $532.12M | $694.88M | $705.93M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $302.45M | - | $292.88M | $300.56M | $255.66M | - | $273.88M | $304.01M | $293.10M | - |
| Total Operating Expenses | $1.15B | - | $865.95M | $1.19B | $1.17B | - | $1.04B | $1.38B | $1.47B | - |
| D&A | $44.14M | - | $44.21M | $38.87M | $41.50M | - | - | - | - | - |
| Operating Income | $23.49M | - | $474.76M | $112.44M | $160.50M | - | $105.80M | $241.10M | $263.08M | - |
| Interest Expense | $3.57M | - | $10.18M | $7.70M | $7.68M | - | $7.71M | $7.70M | $7.68M | - |
| Income Tax | $17.97M | - | $116.38M | $24.42M | $47.23M | - | $16.98M | $48.71M | $58.13M | - |
| Net Income | $24.77M | - | $377.37M | $107.57M | $133.10M | - | $119.04M | $218.27M | $234.94M | - |
| EPS - Basic | $0.23 | - | $3.13 | $0.89 | $1.07 | - | $0.92 | $1.64 | $1.73 | - |
| EPS - Diluted | $0.22 | - | $3.10 | $0.88 | $1.07 | - | $0.91 | $1.63 | $1.72 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.81B | $3.09B | $1.78B | $1.59B | $1.93B | $1.59B | $2.24B | $1.85B | $1.46B | $1.53B |
| Accounts Receivable | $285.79M | $225.76M | $305.01M | $325.76M | $313.33M | $234.31M | $307.70M | $321.29M | $305.99M | $267.20M |
| Inventory | $622.19M | $730.90M | $512.19M | $630.29M | $712.31M | $745.79M | $681.86M | $668.92M | $779.58M | $929.95M |
| Accounts Payable | $459.36M | $389.24M | $342.79M | $367.38M | $443.13M | $298.72M | $305.62M | $377.07M | $397.51M | $349.16M |
| Current Assets | $4.74B | $5.59B | $8.24B | $5.15B | $5.65B | $5.00B | $5.89B | $5.64B | $5.39B | $5.16B |
| Total Assets | $7.25B | $8.04B | $10.57B | $12.05B | $12.38B | $11.88B | $13.03B | $12.76B | $12.33B | $12.14B |
| Current Liabilities | $2.48B | $2.66B | $3.28B | $3.77B | $3.62B | $3.56B | $4.17B | $3.76B | $3.49B | $3.38B |
| Long-term Debt | $1.13B | $1.65B | $3.15B | $4.37B | $4.96B | $4.47B | $4.74B | $4.95B | $4.99B | $4.99B |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $3.06B | $3.14B | $3.57B | $3.32B | $3.18B | $3.17B | $3.43B | $3.44B | $3.34B | $3.25B |
| Retained Earnings | $3.72B | $3.72B | $4.02B | $3.66B | $3.58B | $3.47B | $3.60B | $3.51B | $3.31B | $3.10B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($228.02M) | - | - | - | $141.53M | - | - | - | $104.00M | - |
| Investing Cash Flow | ($92.00M) | - | - | - | $61.40M | - | - | - | ($112.50M) | - |
| Financing Cash Flow | ($959.34M) | - | - | - | $150.19M | - | - | - | ($25.93M) | - |
| CapEx | $31.79M | - | - | - | $29.97M | - | - | - | $46.36M | - |
| Free Cash Flow | ($259.81M) | - | - | - | $111.56M | - | - | - | $57.64M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 32.3% | - | 40.4% | 42.6% | 42.0% | - | 46.2% | 42.9% | 40.8% | - |
| Operating margin | 2.0% | - | 35.4% | 8.6% | 12.1% | - | 9.2% | 14.9% | 15.2% | - |
| EBITDA margin | 5.8% | - | 38.7% | 11.6% | 15.2% | - | - | - | - | - |
| Net margin | 2.1% | - | 28.1% | 8.2% | 10.0% | - | 10.3% | 13.5% | 13.6% | - |
| Free cash flow margin | -22.2% | - | - | - | 8.4% | - | - | - | 3.3% | - |
| FCF / Net income | -10.49 | - | - | - | 0.84 | - | - | - | 0.25 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 25.8% | - | 21.8% | 23.0% | 19.2% | - | 23.8% | 18.8% | 16.9% | - |
| Effective tax rate | 42.0% | - | 23.6% | 18.5% | 26.2% | - | 12.5% | 18.2% | 19.8% | - |
| Return on assets | 0.3% | - | 3.6% | 0.9% | 1.1% | - | 0.9% | 1.7% | 1.9% | - |
| Return on equity | 0.8% | - | 10.6% | 3.2% | 4.2% | - | 3.5% | 6.3% | 7.0% | - |
| Return on invested capital | 0.3% | - | 5.4% | 1.2% | 1.5% | - | 1.1% | 2.4% | 2.5% | - |
| Liquidity | ||||||||||
| Current ratio | 1.91 | 2.10 | 2.51 | 1.37 | 1.56 | 1.40 | 1.41 | 1.50 | 1.54 | 1.53 |
| Quick ratio | 1.66 | 1.83 | 2.36 | 1.20 | 1.36 | 1.19 | 1.25 | 1.32 | 1.32 | 1.25 |
| Cash ratio | 0.73 | 1.16 | 0.54 | 0.42 | 0.53 | 0.45 | 0.54 | 0.49 | 0.42 | 0.45 |
| Leverage | ||||||||||
| Debt / Equity | 0.37 | 0.53 | 0.88 | 1.32 | 1.56 | 1.41 | 1.38 | 1.44 | 1.49 | 1.53 |
| Debt / Assets | 0.16 | 0.21 | 0.30 | 0.36 | 0.40 | 0.38 | 0.36 | 0.39 | 0.40 | 0.41 |
| Debt / EBITDA | 16.78 | - | 6.07 | 28.87 | 24.57 | - | - | - | - | - |
| Interest coverage | 6.6x | - | 46.6x | 14.6x | 20.9x | - | 13.7x | 31.3x | 34.3x | - |
| Equity multiplier | 2.36 | 2.56 | 2.96 | 3.63 | 3.89 | 3.75 | 3.80 | 3.71 | 3.70 | 3.73 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.16 | - | 0.13 | 0.11 | 0.11 | - | 0.09 | 0.13 | 0.14 | - |
| Inventory turnover | 1.28 | - | 1.56 | 1.19 | 1.08 | - | 0.91 | 1.38 | 1.31 | - |
| Days sales outstanding | 89d | - | 83d | 91d | 86d | - | 98d | 72d | 65d | - |
| Days inventory outstanding | 286d | - | 234d | 306d | 337d | - | 402d | 264d | 278d | - |
| Days payable outstanding | 211d | - | 157d | 179d | 210d | - | 180d | 149d | 142d | - |
| Cash conversion cycle | 164d | - | 160d | 219d | 214d | - | 320d | 188d | 201d | - |
| Valuation | ||||||||||
| P / E | 91.9x | - | 9.0x | 26.8x | 23.6x | - | 42.3x | 20.6x | 25.4x | - |
| P / B | 0.7x | - | 1.0x | 0.9x | 1.0x | - | 1.5x | 1.3x | 1.8x | - |
| P / S | 1.9x | - | 2.5x | 2.2x | 2.4x | - | 4.4x | 2.8x | 3.5x | - |
| EV / EBITDA | 23.2x | - | 9.2x | 37.4x | 30.6x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -11.8% | - | 16.5% | -19.3% | -23.1% | - | -25.7% | 12.0% | -3.3% | - |
| Revenue CAGR (3y) | -13.1% | - | -6.7% | -3.8% | -3.8% | - | -5.5% | 1.9% | 6.7% | - |
| Revenue CAGR (5y) | -3.8% | - | 2.8% | 8.6% | -0.8% | - | -2.0% | -0.2% | 2.3% | - |
| Gross profit growth (YoY) | -32.2% | - | 1.9% | -19.9% | -20.9% | - | -18.8% | 6.1% | -9.7% | - |
| Operating income growth (YoY) | -85.4% | - | 348.7% | -53.4% | -39.0% | - | -49.4% | 8.9% | -28.8% | - |
| Net income growth (YoY) | -81.4% | - | 217.0% | -50.7% | -43.3% | - | -40.1% | 22.6% | -22.7% | - |
| EPS growth (YoY) | -79.4% | - | 240.7% | -46.0% | -37.8% | - | -34.1% | 33.6% | -15.7% | - |
| EPS CAGR (3y) | -52.4% | - | 20.3% | -15.5% | -9.6% | - | -4.7% | 7.0% | 0.8% | - |
| EPS CAGR (5y) | -33.4% | - | 31.8% | - | 18.9% | - | 10.6% | 5.8% | 16.5% | - |
| FCF growth (YoY) | - | - | - | - | 93.5% | - | - | - | 3587.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -3.7% | -0.8% | 4.1% | -3.5% | -4.7% | -2.7% | 3.7% | 7.8% | 7.9% | 12.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$3.60B totalHDMCSegment$3.58B · 99.3%
Livewire Segment$25.67M · 0.7%
Product / service
$3.58B totalMotorcycles$2.66B · 74.3%
Parts Accessories$614.07M · 17.2%
Apparel$215.78M · 6.0%
Product And Service Other$69.11M · 1.9%
License$21.67M · 0.6%
Geographic
$3.58B totalUS$2.40B · 67.1%
EMEA$538.78M · 15.0%
Other Foreign Countries$255.34M · 7.1%
CA$161.45M · 4.5%
JP$112.38M · 3.1%
Australia And New Zealand$105.86M · 3.0%
Non Us$6.62M · 0.2%
Peer comparison
Same SIC group: Motorcycles, Bicycles & Parts
Comparing HARLEY-DAVIDSON against the 5 most active filers in the same SIC group.
Dividends
$0.55/share trailing 12 months · -22.4% YoY
| Ex-date | Per share |
|---|---|
| Mar 2, 2026 | $0.1880 |
| Dec 9, 2025 | $0.1800 |
| Sep 10, 2025 | $0.1800 |
| Jun 2, 2025 | $0.1800 |
| Feb 28, 2025 | $0.1800 |
| Dec 10, 2024 | $0.1730 |
| Sep 16, 2024 | $0.1730 |
| Jun 5, 2024 | $0.1730 |
| Mar 1, 2024 | $0.1730 |
| Dec 8, 2023 | $0.1650 |
| Sep 11, 2023 | $0.1650 |
| Jun 2, 2023 | $0.1650 |
| Mar 2, 2023 | $0.1650 |
| Dec 8, 2022 | $0.1580 |
| Sep 9, 2022 | $0.1580 |
| Jun 1, 2022 | $0.1580 |
| Feb 25, 2022 | $0.1580 |
| Dec 7, 2021 | $0.1500 |
| Sep 9, 2021 | $0.1500 |
| Jun 9, 2021 | $0.1500 |
| Mar 1, 2021 | $0.1500 |
| Dec 3, 2020 | $0.0200 |
| Sep 9, 2020 | $0.0200 |
| May 21, 2020 | $0.0200 |