stockrowHarley-Davidson, Inc.
HOG Consumer Cyclical Recreational Vehicles
Harley-Davidson, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.5 billion, down 13.8% from fiscal 2024.
- Revenue
- −19.3%
- EPS
- −87.4%
- Free cash flow
- +344.7%
- Total debt
- −54.7%
Quarter to September 2026, against a year earlier
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Harley-Davidson, Inc. (HOG) Gross margin
Harley-Davidson, Inc.'s gross margin over the twelve months to 30 September 2026 was 24.0%, down 6.0 percentage points from fiscal 2025 (30.0%). Over the past ten years it has ranged from 30.0% (fiscal 2025) to 41.3% (fiscal 2015) — the current reading is the lowest in ten years. That is above the Recreational Vehicles industry median of 20.9% and below the Consumer Cyclical sector median of 34.3%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 30.0% | (4.86) |
| FY2024 | 34.9% | (2.50) |
| FY2023 | 37.4% | 0.30 |
| FY2022 | 37.1% | 1.47 |
| FY2021 | 35.6% | 1.77 |
| FY2020 | 33.8% | (2.00) |
| FY2019 | 35.8% | (2.15) |
| FY2018 | 38.0% | (0.87) |
| FY2017 | 38.9% | (1.11) |
| FY2016 | 40.0% | (1.35) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 26.0% | (5.77) |
| Jun 2026 | 31.7% | 2.82 |
| Mar 2026 | 28.9% | 40.14 |
| Dec 2025 | −11.2% | (45.99) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| LCII LCI Industries compare | 26.2% |
| BC Brunswick Corporation compare | 26.2% |
| HOG Harley-Davidson, Inc. | 24.0% |
| PATK Patrick Industries, Inc. compare | 23.3% |
| MCFT MASTERCRAFT BOAT HOLDINGS, INC. compare | 22.9% |
| PII Polaris Inc. compare | 21.3% |
| DOO BRP Inc. compare | 20.6% |
| WGO Winnebago Industries, Inc. compare | 13.0% |
| THO Thor Industries, Inc. compare | 12.6% |
| Recreational Vehicles industry median | 20.9% |
| Consumer Cyclical sector median | 34.3% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on HOG
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement