| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | 1 | 2 | — | — | — | 1 | 2 | — |
| Sell | — | 2 | — | — | 1 | 1 | — | 2 | 1 | 1 | 1 | 1 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.75 |
—
—
—
|
| 2025 | 0.72 |
—
—
—
—
|
| 2024 | 0.69 |
—
—
—
—
|
| 2023 | 0.83 |
—
—
—
—
—
|
| 2022 | 0.63 |
—
—
—
—
|
| 2021 | 0.60 |
—
—
—
—
|
| 2020 | 0.44 |
—
—
—
—
|
| 2019 | 1.50 |
—
—
—
—
|
| 2018 | 1.48 |
—
—
—
—
|
| 2017 | 1.46 |
—
—
—
—
|
| 2016 | 1.40 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,638.45 | 1,725.27 | 3,091.74 | 1,895.79 |
| Receivables | 267.20 | 234.32 | 490.00 | 847.55 |
| Inventory | 929.95 | 745.79 | 730.90 | 500.94 |
| Other | 214.40 | 259.76 | 292.38 | 250.42 |
| 5,163.73 | 4,996.64 | 5,586.95 | 4,589.23 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 349.16 | 298.72 | 389.24 | 409.28 |
| ST’ Debt | 2,134.93 | 2,491.72 | 1,317.41 | 1,111.61 |
| Other | 253.31 | 173.10 | 280.10 | 266.42 |
| 3,384.26 | 3,557.49 | 2,658.69 | 2,411.45 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,172.53 | 1,230.44 | — | — |
—
|
| ’25 | 1,329.21 | 1,307.10 | 1,340.71 | 496.16 |
4,473.18
|
| ’24 | 1,729.61 | 1,618.89 | 1,150.70 | 687.61 |
5,186.80
|
| ’23 | 1,788.69 | 1,445.52 | 1,549.06 | 1,053.21 |
5,836.48
|
| ’22 | 1,495.19 | 1,469.09 | 1,648.58 | 1,142.28 |
5,755.13
|
| ’21 | 1,422.51 | 1,532.06 | 1,365.31 | 1,016.43 |
5,336.31
|
| ’20 | 1,298.24 | 865.23 | 1,165.68 | 725.22 |
4,054.38
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (228.02) | 168.34 | — | — |
—
|
| ’25 | 141.53 | 367.96 | (92.59) | 152.02 |
568.92
|
| ’24 | 104.00 | 473.65 | 353.01 | 133.18 |
1,063.83
|
| ’23 | 46.68 | 363.84 | 296.25 | 48.12 |
754.89
|
| ’22 | 139.32 | 104.87 | 330.52 | (26.24) |
548.46
|
| ’21 | 162.78 | 481.52 | 281.25 | 50.15 |
975.70
|
| ’20 | (8.58) | 618.79 | 524.87 | 42.82 |
1,177.89
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (259.81) | 155.43 | — | — |
—
|
| ’25 | 111.56 | 332.37 | (129.12) | 100.43 |
415.24
|
| ’24 | 57.64 | 432.17 | 300.42 | 77.04 |
867.27
|
| ’23 | 1.56 | 322.43 | 243.87 | (20.38) |
547.48
|
| ’22 | 111.32 | 77.85 | 300.59 | (92.96) |
396.79
|
| ’21 | 143.97 | 462.76 | 257.34 | (8.55) |
855.52
|
| ’20 | (41.51) | 584.69 | 499.60 | 4.07 |
1,046.84
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.22 | 0.75 | — | — |
—
|
| ’25 | 1.07 | 0.88 | 3.10 | (2.44) |
2.78
|
| ’24 | 1.72 | 1.63 | 0.91 | (0.93) |
3.44
|
| ’23 | 2.04 | 1.22 | 1.38 | 0.18 |
4.87
|
| ’22 | 1.45 | 1.46 | 1.78 | 0.28 |
4.96
|
| ’21 | 1.68 | 1.33 | 1.05 | 0.14 |
4.19
|
| ’20 | 0.45 | (0.60) | 0.78 | (0.63) |
0.01
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 29.80 | 25.43 | 29.46 | 20.40 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 48.72 | 51.77 | 44.16 | 31.25 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,300 | 6,400 | 5,900 | 5,500 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.91 | 0.91 | 0.88 | 0.81 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,755.13 | 5,836.48 | 5,186.80 | 4,473.18 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 37.08% | 37.38% | 34.88% | 30.02% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 931.23 | 866.88 | 517.14 | 458.73 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.18% | 14.85% | 9.97% | 10.26% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 739.21 | 695.05 | 445.18 | 329.15 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 261.96 | 256.34 | 245.38 | 231.09 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 38.88 | 40.99 | 39.46 | 37.25 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 5.01 | 4.96 | 3.46 | 2.82 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.71 | 5.30 | 8.09 | 4.74 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.02) | (1.46) | (1.50) | (1.28) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.68 | 3.85 | 6.60 | 3.46 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.64 | 22.84 | 24.03 | 26.29 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 148.01 | 142.38 | 131.45 | 120.07 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.21 | 7.39 | 8.97 | 7.73 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.06 | 0.89 | 0.76 | 0.55 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.09 | 1.59 | 1.25 | 0.78 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.99 | 1.83 | 1.77 | 0.52 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 28.81 | 19.46 | 10.60 | 5.62 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 548.46 | 754.89 | 1,063.83 | 568.92 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (151.67) | (207.40) | (196.56) | (153.68) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 396.79 | 547.48 | 867.27 | 415.24 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,216.75 | 1,779.47 | 1,439.14 | 2,928.26 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,912.30 | 7,125.52 | 6,960.38 | 2,967.02 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,343.70 | 5,487.07 | 5,235.11 | (124.73) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,906.81 | 3,252.30 | 3,158.50 | 3,156.85 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.58% | 5.98% | 3.79% | 3.40% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.89% | 5.57% | 3.10% | 7.97% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 27.16% | 22.94% | 14.21% | 10.73% | — | — | — |
ROE
|
Harley-Davidson (HOG) is revving up for a gritty comeback amid a decade of turbulence—from EU tariffs, COVID shutdowns, and supply chain woes to an aging rider base and softening demand. Under CEO Jochen Zeitz’s bold “Hardwire” strategy since 2020, the icon is pivoting to premium bikes, electric innovation via LiveWire, and ruthless cost discipline, fueling a 34% revenue rebound to $5.84 billion in 2023. Yet, 2024 saw an 11% dip to $5.19 billion, with forecasts pointing to a trough at $3.68 billion in 2026 before stabilization—challenges from high rates, cheap rivals, and EV ramp-up risks testing the Hog’s roar.
Bright spots shine through: operating cash flow soared 41% to $1.06 billion in 2024, free cash flow per share hit $6.60, and debt plunged 57% to a cash surplus, supercharging ROIC to 8% and book value per share to $26.29. Trading at dirt-cheap multiples—EV/Sales ~1.8x, EV/FCF ~11x, PS 0.76x—HOG screams value, decoupled from a flat stock despite EPS gains, with analyst targets eyeing 13% mean upside (up to 57% in bull cases on margin recovery and LiveWire scaling).
This undervalued rebel brand, with 50%+ repeat loyalty and a fortified balance sheet, positions for explosive upside if rates ease, premium models dominate, and EVs disrupt. Strap in—Hardwire could turn contraction into acceleration, making HOG a contrarian thrill worth riding.
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