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HOGHarley-Davidson, Inc.
$25.89$2.9B
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HOG logoHarley-Davidson, Inc.(HOG)Earnings, Financials & Key Ratios

HOG•NYSE
$25.89
9.3× P/E·Price updated Jul 7, 2026
SectorConsumer CyclicalIndustryRecreational VehiclesSub-IndustryRV and Powersports Manufacturers
AboutHarley-Davidson, Inc. manufactures and sells motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, apparel, and related services. This segment sells its products to retail customers through a network of independent dealers, as well as e-commerce channels in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific. The Financial Services segment provides wholesale financing services, such as floorplan and open account financing of motorcycles, and parts and accessories; and retail financing services, including installment lending for the purchase of new and used Harley-Davidson motorcycles, as well as point-of-sale protection products comprising motorcycle insurance, extended service contracts, and motorcycle maintenance protection. 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.Show more
  • Revenue$4.47B-13.8%
  • EBITDA$492M-14.7%
  • Net Income$339M-25.6%
  • EPS (Diluted)2.78-19.2%
  • Gross Margin30.24%-13.3%
  • EBITDA Margin11%-1.1%
  • Operating Margin8.64%+7.6%
  • Net Margin7.57%-13.7%
  • ROE10.73%-24.5%

HOG Price & Volume

Harley-Davidson, Inc. (HOG) stock price & volume — 10-year historical chart

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Operational Volatility Challenges Harley-Davidson's Long-term Stability

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Contracting
Profitability:Strained
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:Cyclical demand and inventory

Key Thesis Takeaways

  • Harley-Davidson faces significant structural headwinds as evidenced by a 11.8% year-over-year revenue decline in 2026Q1 and extreme margin instability, including a negative 22.8% gross margin in 2025Q4.
  • The company's reliance on a high fixed-cost base amplifies downside risk during periods of cooling consumer demand, leading to erratic earnings quality and negative free cash flow.
  • Investors should remain cautious as the firm continues to prioritize shareholder returns, such as the $91.5 million in dividends and buybacks in 2026Q1, despite a $259.8 million free cash flow deficit.

Verdict Logic

Negative: The company's decision to distribute $91.5 million in capital returns during a quarter where it burned $259.8 million in free cash flow suggests a potential misalignment between shareholder payouts and operational sustainability.

HOG Growth Metrics

Harley-Davidson, Inc. (HOG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-2.89%
5 Years1.99%
3 Years-8.06%
TTM-9.82%

Profit CAGR

10 Years-7.67%
5 Years204.31%
3 Years-22.98%
TTM-34.83%

EPS CAGR

10 Years-2.79%
5 Years219.12%
3 Years-17.55%
TTM-34.33%

Return on Capital

10 Years8.75%
5 Years8.38%
3 Years6.61%
Last Year5.64%

HOG Recent Earnings

Harley-Davidson, Inc. (HOG) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$0.22-35.3%
$0.34
Rev
$1.1B+4.5%
$1.0B
Q1 2026
Feb 10, 2026
Metric
Actual
Est
EPS
$2.44-165.2%
$0.92
Rev
$379M-21.7%
$485M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$3.10+124.6%
$1.38
Rev
$1.1B+110.9%
$509M
Q3 2025
Jul 30, 2025
Metric
Actual
Est
EPS
$0.88-11.1%
$0.99
Rev
$1.3B+24.6%
$1.0B
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.22vs $0.34-35.3%
$1.1Bvs $1.0B+4.5%
Q1 2026Feb 10, 2026
$2.44vs $0.92-165.2%
$379Mvs $485M-21.7%
Q4 2025Nov 4, 2025
$3.10vs $1.38+124.6%
$1.1Bvs $509M+110.9%
Q3 2025Jul 30, 2025
$0.88vs $0.99-11.1%
$1.3Bvs $1.0B+24.6%
Based on last 12 quarters of dataView full earnings history →

Latest HOG News

Recent stock market news and headlines for Harley-Davidson, Inc. (HOG)

Seeking Alpha·Jun 20, 2026
Harley-Davidson: The Margin Reset Could Rip The Bear Case Apart

HOG is priced like the margin collapse is permanent, yet Q1 retail sales rose 8% and dealer inventory fell 22%, signaling demand may have stopped bleeding. The 2027 reset is the first catalyst: less discounting, $150M+ cost cuts, U.S.-built Revolution Max, and fuller York production can lift HDMC EBITDA to over $350M. My base case is $32 in 12-18 months and $48 in 2-3 years, with greater upside if Harley turns dealers into rider factories and rebuilds cultural demand.

Peers Comparison

Key metrics vs top competitors for Harley-Davidson, Inc. (HOG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HOG logoHOGHarley-Davidson, Inc.Current
$25.89$2.9B9.31-13.76%7.57%10.73%2.75%
PII logoPIIPolaris Inc.
$64.18$3.64B-7.85-0.33%-6.13%-45.24%—
FOXF logoFOXFFox Factory Holding Corp.
$17.00$712.91M-1.305.27%-20.25%-36.99%—
MBLY logoMBLYMobileye Global Inc.
$9.50$7.74B-19.7914.51%-203.97%-37.31%—
F logoFFord Motor Company
$13.57$53.18B-6.591.23%-3.22%-14.71%—
GM logoGMGeneral Motors Company
$76.03$68.55B23.25-1.29%1.38%3.84%—

Compare HOG vs Peers

Harley-Davidson, Inc. (HOG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PII

Most directly comparable listed peer for HOG.

Scale Benchmark

vs TSLA

Larger-name benchmark to compare HOG against a more recognizable public peer.

Peer Set

Compare Top 5

vs PII, FOXF, MBLY, F

HOG SEC Filings & Documents

Harley-Davidson, Inc. (HOG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Mar 6, 2026·SEC

Material company update

Feb 10, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 6, 2025·SEC

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HOG Frequently Asked Questions

Harley-Davidson, Inc. (HOG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Harley-Davidson, Inc.'s revenue?

Harley-Davidson, Inc. (HOG) reported $4.32B in revenue for fiscal year 2025. This represents a 182% increase from $1.53B in 1996.

How fast is Harley-Davidson, Inc. growing?

Harley-Davidson, Inc. (HOG) saw revenue decline by 13.8% over the past year.

Is HOG profitable?

Yes, Harley-Davidson, Inc. (HOG) is profitable, generating $230.4M in net income for fiscal year 2025 (7.6% net margin).

Dividend & Returns
Does HOG pay dividends?

Yes, Harley-Davidson, Inc. (HOG) pays a dividend with a yield of 2.75%. This makes it attractive for income-focused investors.

What is HOG's return on equity?

Harley-Davidson, Inc. (HOG) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.

What is Harley-Davidson, Inc.'s free cash flow?

Harley-Davidson, Inc. (HOG) generated $43.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in HOG back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →