Harley-Davidson, Inc. (HOG) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -228.02M | 152.02M | -92.59M | 367.96M | 141.53M | 133.18M | 353.01M | 473.64M | 104M | 48.12M | 296.25M | 363.84M | 46.68M | -26.24M | 330.52M | 104.86M | 139.32M | 50.15M | 281.25M | 481.52M |
| Operating CF Margin % | -19.45% | 30.64% | -6.91% | 28.15% | 10.65% | 19.37% | 30.68% | 29.26% | 6.01% | 4.57% | 19.12% | 25.17% | 2.61% | -2.3% | 20.05% | 7.14% | 9.32% | 4.93% | 20.6% | 31.43% |
| Operating CF Growth % | -261.11% | 14.15% | -126.23% | -22.31% | 36.09% | 176.76% | 19.16% | 30.18% | 122.8% | 283.36% | -10.37% | 246.96% | -66.5% | -152.33% | 17.52% | -78.22% | -14.41% | 17.11% | -46.41% | -22.18% |
| Net Income | 24.77M | -279.3M | 377.37M | -130.8M | 130.8M | -118.43M | 119.04M | 218.27M | 234.94M | 25.81M | 196.1M | 173.83M | 301.83M | 39.68M | 261.19M | 215.85M | 222.5M | 21.57M | 162.97M | 206.34M |
| Depreciation & Amortization | 0 | 46.03M | 44.21M | -41.7M | 41.7M | 41.1M | 39.19M | 38.87M | 41.5M | 45.52M | 40.37M | 37.87M | 34.35M | 37.08M | 37.48M | 38.13M | 39.26M | 42.7M | 41.16M | 41.1M |
| Stock-Based Compensation | 0 | 0 | 8.43M | -6.82M | 6.82M | 9.19M | 10.82M | 12.78M | 16.21M | 18.36M | 20.13M | 20.79M | 23.63M | 20.76M | 13.83M | 10.86M | 8.9M | 8.12M | 10.69M | 14.37M |
| Deferred Taxes | 0 | -7.98M | 78.27M | -18.57M | 18.57M | -24.46M | -1.96M | -5.25M | 5.4M | -21.6M | -4.2M | -9.9M | 5.65M | -12.96M | -5.46M | -3.83M | 6.31M | -18.3M | -2.11M | -460K |
| Other Non-Cash Items | -252.79M | 478M | -748.88M | 528.66M | -210.9M | 333.06M | 242.17M | 121.59M | -368.67M | 41.41M | -44.27M | 275.33M | -450.43M | 118.74M | -18.61M | 69.97M | -162.81M | 131.52M | 152.19M | 221.28M |
| Working Capital Changes | 0 | -84.74M | 148.02M | 37.18M | 154.55M | -107.28M | -56.25M | 87.38M | 174.61M | -61.38M | 88.13M | -134.08M | 131.65M | -229.54M | 42.09M | -226.11M | 25.16M | -135.47M | -83.65M | -1.12M |
| Change in Receivables | 0 | 111.57M | 26.72M | 14.23M | -72.59M | 54.02M | 28.96M | -17.26M | -45.91M | 57.94M | 6.62M | -1.54M | -77.99M | 68.34M | -16.81M | -58.47M | -74.99M | 95.21M | -23.93M | -45.73M |
| Change in Inventory | 0 | -214.71M | 119.29M | 100.78M | 42.22M | -88.76M | 17.83M | 104.01M | 131.53M | -139.49M | 66.11M | -28.41M | 123.05M | -247.59M | 27.41M | -31.36M | -2.63M | -239.42M | -26.49M | 13.28M |
| Change in Payables | 0 | 50.52M | -61.06M | -67.18M | 203.28M | -42.53M | -77.07M | 10.93M | 53.23M | 14.12M | 0 | -59.83M | 43.79M | 4.5M | 41.98M | -111.21M | 106.97M | 173.55M | -26.9M | 43.75M |
| Cash from Investing | -92M | 3.57B | 295.33M | -151.25M | 61.4M | 102.85M | -89.15M | -284.53M | -112.5M | -1.17M | -165.94M | -274.61M | -70.59M | -27.27M | -252.28M | -372.32M | -121.14M | 76.1M | -150.27M | -358.55M |
| Capital Expenditures | -31.79M | -51.59M | -36.53M | -35.59M | -29.97M | -56.14M | -52.59M | -41.48M | -46.36M | -68.5M | -52.38M | -41.41M | -45.11M | -66.72M | -29.93M | -27.02M | -28M | -58.7M | -23.91M | -18.75M |
| CapEx % of Revenue | 2.71% | 10.4% | 2.72% | 2.72% | 2.25% | 8.16% | 4.57% | 2.56% | 2.68% | 6.5% | 3.38% | 2.86% | 2.52% | 5.84% | 1.82% | 1.84% | 1.87% | 5.78% | 1.75% | 1.22% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -60.21M | 3.62B | 206.49M | -115.66M | 91.37M | 158.99M | -36.56M | -243.05M | -66.14M | 67.33M | -113.56M | -233.2M | -25.47M | 39.45M | -222.34M | -345.31M | -93.14M | 134.81M | -126.36M | -339.79M |
| Cash from Financing | -959.34M | -2.46B | -131.16M | -566.7M | 150.19M | -885.77M | 131.46M | 207.92M | -25.93M | -428.22M | 228.74M | -153.75M | 178.59M | -423.43M | -463.47M | 1.17B | -483.5M | -333.38M | 194.82M | -733.65M |
| Debt Issued (Net) | 0 | -2.27B | -27.2M | -569.19M | 303.63M | -765.37M | 258.96M | 269.99M | 113.02M | -249.07M | 282.61M | -127.28M | 247.59M | -386.13M | -526.61M | 1.26B | -255.37M | -308.33M | 187.75M | -815.18M |
| Equity Issued (Net) | 0 | -160.06M | -100.07M | -45K | -93.09M | -100.02M | -150.13M | -101.86M | -107.81M | -124.56M | -69.78M | -72.88M | -96.77M | -131K | -12.67M | -64.09M | -261.74M | -78K | -634K | -5.26M |
| Dividends Paid | -21.54M | -20.1M | -21.53M | -21.84M | -22.92M | -21.77M | -22.09M | -22.97M | -24.39M | -23.54M | -24.58M | -24.07M | -24.12M | -23.02M | -23.02M | -23.09M | -24.06M | -23.11M | -23.11M | -23.1M |
| Share Repurchases | -70.02M | -160.06M | -100.07M | -45K | -93.09M | -100.02M | -150.13M | -101.86M | -107.81M | -124.56M | -69.78M | -72.88M | -96.77M | -131K | -12.67M | -64.09M | -261.74M | -78K | -634K | -5.26M |
| Other Financing | -937.8M | -13.48M | 17.65M | 24.37M | -37.43M | 1.38M | 44.73M | 62.77M | -6.75M | -31.06M | 40.5M | 70.47M | 51.89M | -14.15M | 98.83M | -3.64M | 57.66M | -1.87M | 30.82M | 109.9M |
| Net Change in Cash | -1.29B | 1.27B | 70.22M | -340.92M | 356.41M | -666.09M | 406.35M | 393.24M | -41.45M | -371.16M | 351.13M | -68.83M | 158.5M | -463.11M | -403.23M | 884.2M | -467.06M | -211.36M | 321.63M | -612.39M |
| Free Cash Flow | -259.81M | 100.43M | -129.12M | 332.37M | 111.56M | 77.04M | 300.42M | 432.17M | 57.64M | -20.38M | 243.87M | 322.43M | 1.56M | -92.97M | 300.59M | 77.85M | 111.32M | -8.55M | 257.34M | 462.76M |
| FCF Margin % | -22.16% | 20.24% | -9.63% | 25.43% | 8.39% | 11.2% | 26.11% | 26.7% | 3.33% | -1.94% | 15.74% | 22.31% | 0.09% | -8.14% | 18.23% | 5.3% | 7.45% | -0.84% | 18.85% | 30.21% |
| FCF Growth % | -332.89% | 30.36% | -142.98% | -23.09% | 93.54% | 477.98% | 23.19% | 34.03% | 3587.84% | 78.08% | -18.87% | 314.17% | -98.6% | -986.67% | 16.8% | -83.18% | -22.68% | -310.35% | -48.49% | -20.85% |
| FCF per Share | -2.35 | 0.88 | -1.06 | 2.69 | 0.89 | 0.61 | 2.29 | 3.22 | 0.42 | -0.14 | 1.69 | 2.21 | 0.01 | -0.62 | 2.04 | 0.53 | 0.72 | -0.06 | 1.66 | 2.98 |
| FCF Conversion (FCF/Net Income) | -9.20x | -0.54x | -0.25x | 3.42x | 1.06x | -1.14x | 2.97x | 2.17x | 0.44x | 1.86x | 1.49x | 2.04x | 0.15x | -0.63x | 1.27x | 0.49x | 0.63x | 2.33x | 1.73x | 2.33x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |