HARLEY-DAVIDSON, INC. HOG

Consumer discretionary SIC 3751 - Motorcycles, Bicycles & Parts NAICS Manufacturing › Transportation Equipment Manufacturing › Other Transportation Equipment Manufacturing › Motorcycle, Bicycle, and Parts Manufacturing derived NYSE

Harley-Davidson was founded in 1903. Harley-Davidson, Inc. was incorporated in 1981, at which time it purchased the Harley-Davidson® motorcycle business from AMF Incorporated in a management buyout. In 1986, Harley-Davidson, Inc. became publicly held. Unless the context otherwise requires, all references to the "Company" include Harley-Davidson, Inc. and all of its subsidiaries. The Company has three reportable segments: Harley-Davidson Motor Company (HDMC), LiveWire, and Harley-Davidson Financial Services (HDFS). The Company's reportable segments, which are discussed in greater detail below, are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations. Revenue by segment for the last three fiscal years was as follows (in thousands):

Last close 28.30 2026-09-04
Market cap $2.95B 2026-06-30 share count
52-week range 17.09 - 31.25

Valuation FY2025 figures against the last close

P/S0.8x
P/E10.2x
P/FCF7.1x
EV/EBITDA4.2x
Dividend yield2.9%
Diluted EPS2.78

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • HDMC - United States
  • Hdmc - Emea
  • HDMC - Other countries
  • HDMC - Canada
  • HDMC - Japan
  • HDMC - Australia and New Zealand
  • Other
Revenue by segment, 7 categories over 3 years. The same figures are in the table below. FY2025 HDMC - United States, FY2025: 2.4B (66.2%) 66% HDMC - United States Hdmc - Emea, FY2025: 538.8M (14.8%) 15% Hdmc - Emea HDMC - Other countries, FY2025: 255.3M (7.0%) 7% HDMC - Canada, FY2025: 161.4M (4.4%) 4% HDMC - Japan, FY2025: 112.4M (3.1%) HDMC - Australia and New Zealand, FY2025: 105.9M (2.9%) Other, FY2025: 51.3M (1.4%) FY2024 HDMC - United States, FY2024: 2.8B (67.4%) 67% Hdmc - Emea, FY2024: 584.5M (14.0%) 14% HDMC - Other countries, FY2024: 264M (6.3%) 6% HDMC - Canada, FY2024: 210.5M (5.0%) 5% HDMC - Japan, FY2024: 128.4M (3.1%) HDMC - Australia and New Zealand, FY2024: 119.9M (2.9%) Other, FY2024: 52.7M (1.3%) FY2023 HDMC - United States, FY2023: 3.3B (66.8%) 67% Hdmc - Emea, FY2023: 637.5M (13.0%) 13% HDMC - Other countries, FY2023: 369.8M (7.5%) 8% HDMC - Canada, FY2023: 220.2M (4.5%) 4% HDMC - Japan, FY2023: 200.5M (4.1%) 4% HDMC - Australia and New Zealand, FY2023: 127.4M (2.6%) Other, FY2023: 76.6M (1.6%)
Segment FY2025FY2024FY2023
HDMC - United States $2.40B $2.81B $3.29B
Hdmc - Emea $538.8M $584.5M $637.5M
HDMC - Other countries $255.3M $264.0M $369.8M
HDMC - Canada $161.4M $210.5M $220.2M
HDMC - Japan $112.4M $128.4M $200.5M
HDMC - Australia and New Zealand $105.9M $119.9M $127.4M
Other $51.3M $52.7M $76.6M

As the company reported it, from the “Reportable Segments and Geographic Information - Schedule of Segment Information by Geographical Locations (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.60B$4.15B$4.88B$4.93B$4.54B$3.26B$5.36B$5.72B$5.65B$6.00B
Cost of revenue $2.74B$3.01B$3.32B$3.40B$3.24B$2.44B$3.23B$3.35B$3.27B$3.43B
Gross profit $862.2M$1.14B$1.56B$1.53B$1.30B$828.3M$2.13B$2.37B$2.37B$2.57B
R&D ——$159.3M$158.6M$175.1M$202.4M$216.5M$191.6M$175.2M$172.3M
SG&A $1.15B$1.15B$1.18B$1.08B$1.05B$1.05B$1.20B$1.26B$1.18B$1.21B
Total operating expenses $4.09B$4.77B$5.06B$4.85B$4.51B$4.04B$4.81B$5.00B$4.77B$4.95B
Operating income $386.6M$416.6M$779.1M$909.3M$823.4M$9.7M$555.6M$713.5M$882.1M$1.05B
Interest expense $33.4M$30.7M$30.8M$31.2M$31.0M$31.1M$31.1M$30.9M$31.0M$29.7M
Pre-tax income $458.7M$517.1M$866.9M$931.2M$819.2M-$15.7M$557.4M$686.6M$863.8M$1.02B
Income tax $129.6M$72.0M$171.8M$192.0M$169.2M$17.0M$133.8M$155.2M$342.1M$331.7M
Net income $338.7M$455.4M$706.6M$741.4M$650.0M$1.3M$423.6M$531.5M$521.8M$692.2M
EPS, basic 2.823.464.965.014.230.012.703.213.033.85
EPS, diluted 2.783.444.874.964.190.012.683.193.023.83
Shares, diluted (wtd. avg.) 121.3M132.3M145.1M149.4M155.0M153.9M157.8M166.5M172.9M180.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.09B$1.59B$1.53B$1.58B$2.03B$3.41B$905.4M$1.26B$746.2M$827.1M
Short-term investments ———————$10.0M$0—
Receivables $225.8M$234.3M$267.2M$252.2M$182.1M$143.1M$259.3M$306.5M$330.0M$285.1M
Inventory $730.9M$745.8M$930.0M$951.0M$712.9M$523.5M$603.6M$556.1M$538.2M$499.9M
Total current assets $5.59B$5.00B$5.16B$4.75B$4.55B$5.85B$4.20B$4.48B$3.88B$3.85B
Property, plant and equipment $750.2M$757.1M$731.7M$689.9M$684.0M$743.8M$847.4M$904.1M$967.8M$981.6M
Goodwill $63.9M$61.7M$62.7M$62.1M$63.2M$66.0M$64.2M$55.0M$55.9M$53.4M
Other intangibles —$5.6M$7.0M$6.4M$7.5M—————
Total assets $8.04B$11.88B$12.14B$11.49B$11.05B$12.01B$10.53B$10.67B$9.97B$9.89B
Accounts payable $389.2M$298.7M$349.2M$378.0M$375.0M$290.9M$294.4M$284.9M$227.6M$235.3M
Short-term debt $819.6M$1.85B$1.26B$1.68B$1.54B$2.04B$1.75B$1.58B$1.13B$1.08B
Total current liabilities $2.66B$3.56B$3.38B$3.53B$3.34B$3.98B$3.20B$3.60B$3.16B$2.86B
Long-term debt $1.65B$4.47B$4.99B$4.46B$4.60B$5.93B$5.12B$4.89B$4.59B$4.67B
Retained earnings $3.72B$3.47B$3.10B$2.49B$1.84B$1.28B$2.19B$2.01B$1.61B$1.34B
Total equity $3.14B$3.17B$3.25B$2.91B$2.55B$1.72B$1.80B$1.77B$1.84B$1.92B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $568.9M$1.06B$754.9M$548.5M$975.7M$1.18B$868.3M$1.21B$1.01B$1.17B
Depreciation and amortisation $172.4M$160.7M$158.1M$151.9M$165.2M$185.7M$232.5M$264.9M$222.2M$209.6M
Stock-based compensation $31.7M$49.0M$82.9M$54.4M$42.2M$23.5M$33.7M$35.5M$32.5M$32.3M
Capital expenditure $153.7M$196.6M$207.4M$151.7M$120.2M$131.1M$181.4M$213.5M$206.3M$256.3M
Investing cash flow $3.78B-$383.3M-$512.3M-$773.0M-$459.4M-$66.8M-$508.1M-$662.3M-$562.5M-$392.7M
Financing cash flow -$3.01B-$572.3M-$174.6M-$202.0M-$1.88B$1.37B-$712.2M-$14.8M-$550.3M-$777.9M
Dividends paid $86.4M$91.2M$96.3M$93.2M$92.4M$68.1M$237.2M$245.8M$251.9M$252.3M
Buybacks $353.3M$459.8M$364.0M$338.6M$11.6M$8.0M$296.5M$390.6M$465.3M$465.3M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000793952-26-000022.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 6B Gross profit, FY2016: 2.6B Net income, FY2016: 692.2M Revenue, FY2017: 5.6B Gross profit, FY2017: 2.4B Net income, FY2017: 521.8M Revenue, FY2018: 5.7B Gross profit, FY2018: 2.4B Net income, FY2018: 531.5M Revenue, FY2019: 5.4B Gross profit, FY2019: 2.1B Net income, FY2019: 423.6M Revenue, FY2020: 3.3B Gross profit, FY2020: 828.3M Net income, FY2020: 1.3M Revenue, FY2021: 4.5B Gross profit, FY2021: 1.3B Net income, FY2021: 650M Revenue, FY2022: 4.9B Gross profit, FY2022: 1.5B Net income, FY2022: 741.4M Revenue, FY2023: 4.9B Gross profit, FY2023: 1.6B Net income, FY2023: 706.6M Revenue, FY2024: 4.1B Gross profit, FY2024: 1.1B Net income, FY2024: 455.4M Revenue, FY2025: 3.6B Gross profit, FY2025: 862.2M Net income, FY2025: 338.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.00B $5.65B $5.72B $5.36B $3.26B $4.54B $4.93B $4.88B $4.15B $3.60B
Gross profit $2.57B $2.37B $2.37B $2.13B $828.3M $1.30B $1.53B $1.56B $1.14B $862.2M
Net income $692.2M $521.8M $531.5M $423.6M $1.3M $650.0M $741.4M $706.6M $455.4M $338.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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EZGO EZGO Technologies Ltd. — — 32.7%