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Harley-Davidson, Inc.

Harley-Davidson, Inc.

NYSE•HOG
CEO: Mr. Jochen Zeitz
Sector: Consumer Cyclical
Industry: Auto - Recreational Vehicles
Listing Date: 1986-07-08
Harley-Davidson, Inc. manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services. This segment sells its products to retail customers through a network of independent dealers, as well as e-commerce channels. The LiveWire segment sells electric motorcycles, balance bikes for kids, parts and accessories, apparel, and related parts and services. The Harley-Davidson Financial Services segment provides wholesale financing services, such as floorplan and open account financing of motorcycles, and parts and accessories; and retail financing services, such as installment lending for the purchase of new and used Harley-Davidson motorcycles, as well as point-of-sale insurance and voluntary protection products. 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.
Contact Information
3700 West Juneau Avenue, Milwaukee, WI, 53208, United States
414-342-4680
www.harley-davidson.com
Market Cap
$2.55B
P/E (TTM)
5.0
10.5
Dividend Yield
3.4%
52W High
$31.25
52W Low
$20.45
52W Range
3%
Rank43Top 38.2%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.07B-6.67%
4-Quarter Trend

EPS

$3.13+240.22%
4-Quarter Trend

FCF

-$129.12M-142.98%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Soars Net income attributable to H-D Inc. reached $377.4M, marking a substantial 217.0% increase over the prior year period, driven by HDFS transaction benefits.
Total Revenue Rises Consolidated revenue totaled $1.341B for the quarter, reflecting strong 16.5% growth compared to the $1.151B reported last year, primarily from HDMC.
HDFS Operating Income Jumps HDFS operating income surged to $438.8M, driven by benefits from the HDFS Transaction, up 471.8% from $76.7M previously reported.
LiveWire Loss Narrows LiveWire segment operating loss improved by 30.3% to $18.2M, due to lower operating expenses resulting from recent cost reduction initiatives.

Risk Factors

Worldwide Retail Sales Decline Global motorcycle retail sales fell 6.0% in Q3 2025, impacted by depressed consumer sentiment and high interest rates affecting discretionary spending.
Tariff Cost Exposure Estimated potential tariff impact for the full year 2025 ranges between $55M and $75M due to ongoing trade negotiation uncertainties and increased costs.
HDMC Income Decreases HDMC operating income fell 1.8% to $54.1M, primarily due to higher manufacturing costs, tariff expenses, and unfavorable shipment mix compared to 2024.
Wholesale Credit Risk Rises Wholesale portfolio credit risk remains elevated; outlook weighted toward more pessimistic economic scenarios impacting future loss estimates and provisions.

Outlook

HDFS Income Guidance Set HDFS segment expects 2025 operating income between $525M and $550M, including realized benefits from the recent HDFS Transaction structure.
Share Repurchase Acceleration Company announced a $200M Accelerated Share Repurchase (ASR) program commencing in Q4 2025 as part of ongoing capital allocation priorities.
LiveWire Loss Forecast LiveWire 2025 operating loss expectation revised upward to a range of $72M to $77M due to headwinds in the electric vehicle market segment.
New Product Launches Planned Plans include introducing a new small displacement motorcycle below $6,000 and shifting annual model launch timing to the preceding fall season.

Peer Comparison

Revenue (TTM)

Advance Auto Parts, Inc.AAP
$8.59B
-10.2%
Polaris Inc.PII
$6.99B
-9.4%
Abercrombie & Fitch Co.ANF
$5.18B
+7.6%

Gross Margin (Latest Quarter)

United Parks & Resorts Inc.PRKS
92.2%
-0.4pp
CarGurus, Inc.CARG
89.5%
+10.6pp
Abercrombie & Fitch Co.ANF
59.5%
-5.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ANF$5.83B11.240.7%32.5%
CARG$3.94B25.134.6%29.3%
PII$3.78B-25.8-12.5%24.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
16.0%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:-$0.92
|
Revenue:$482.25M
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $1.07B-6.7%
    |
    EPS: $3.13+240.2%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $1.31B-19.3%
    |
    EPS: $0.89-45.7%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 6, 2025|
    Revenue: $1.33B-23.2%
    |
    EPS: $1.07-38.1%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $5.19B-11.1%
    |
    EPS: $3.46-30.2%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $1.15B-25.7%
    |
    EPS: $0.92-34.3%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $1.62B+12.0%
    |
    EPS: $1.64+32.3%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $1.73B-3.3%
    |
    EPS: $1.73-16.8%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 23, 2024|
    Revenue: $5.84B+1.4%
    |
    EPS: $4.96-1.0%
    Beat