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NYSE · Consumer Discretionary

HARLEY-DAVIDSON, INC. (HOG)

As-reported financials and SEC filings for HARLEY-DAVIDSON, INC. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About HARLEY-DAVIDSON, INC.

Harley-Davidson, Inc. designs, manufactures, and sells motorcycles, motorcycle parts, accessories, and apparel globally. The company operates through three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. It serves retail customers primarily through a network of independent dealers across the United States, Canada, Europe, Asia Pacific, and Latin America.

Snapshot

Revenue
$3.60B
Revenue growth (YoY)
-13.1%
Net income
$338.7M
Diluted EPS
$2.78
Gross margin
23.9%
Operating margin
10.7%
Net margin
9.4%
FCF margin
11.5%
ROE
10.7%
net income / fiscal-year-end equity
P/E
15.3×
trailing when available, otherwise FY EPS
Market cap
$2.90B
Long-term debt / equity
0.52×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Harley-davidson

  • Revenue fell 13.1% to $3.6B in FY2025, after a 15.0% decline the year before.
  • Operating margin is 10.7% in FY2025, -7.4 pp against 18.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $1.1B, up 6.1% from Q2 FY2025.
  • Free cash flow was $415M in FY2025, 11.5% of revenue.
  • Net income fell 25.6% to $339M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Harley-davidson’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin23.9%
30th percentile of 275
Operating margin10.7%
76th percentile of 348
Net margin9.4%
81st percentile of 377
FCF margin11.5%
85th percentile of 351
Revenue growth (YoY)-13.1%
11th percentile of 394
ROE10.7%
61st percentile of 343
P/E15.3×
34th percentile of 249
Long-term debt / equity0.52×
55th percentile of 234
Short interest9.29d
90th percentile of 401

Harley-davidson’s revenue growth of -13.1% ranks in the 11th percentile of the 394 Consumer Discretionary companies reporting it. Harley-davidson’s FCF margin of 11.5% ranks in the 85th percentile of the 351 Consumer Discretionary companies reporting it.

3 reported insider purchases (code P) totaling $1.4M in the last 90 days, against 2 sales totaling $76,644. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
5
1 new, 4 added
Reduced / exited
3
3 trimmed, 0 exited
Combined position
$217.5M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$63.8M2.6MAdded
D. E. ShawquantQ2 2026$55.6M2.3MAdded
Two Sigma InvestmentsquantQ2 2026$45.5M1.9MReduced
Gotham Asset ManagementQ2 2026$32.6M1.3MAdded
Millennium ManagementquantQ2 2026$15.1M616.8KReduced
Bridgewater AssociatesQ2 2026$3.1M128.6KAdded
Citadel AdvisorsquantQ2 2026$887,36036.3KReduced
Renaissance TechnologiesquantQ2 2026$863,43835.3KNew

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
3
3 insiders
Bought (90d)
$1.4M
code P value
Sells (90d)
2
$77K
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-08-11
filed 2026-08-13
Littleton GayleCLO, CCO, CAO & Corp SecBuy7.5K$26.38$198K
2026-08-10
filed 2026-08-11
Starrs ArtiePresident & CEOBuy10.0K$25.89$259K
2026-08-03
filed 2026-08-05
Root Jonathan RCFO and CCOSell1.6K$24.88$39K
2026-07-31
filed 2026-08-03
NOVA DANIEL JDirectorBuy40.0K$24.57$983K
2026-07-01
filed 2026-07-06
Root Jonathan RCFO and CCOSell1.6K$24.44$38K
2026-06-01
filed 2026-06-03
Root Jonathan RCFO and CCOSell1.6K$23.87$37K
2026-05-19
filed 2026-05-21
Root Jonathan RCFO and CCOSell1.6K$24.21$38K
2026-05-11
filed 2026-05-13
Krause Paul JChief Legal OfficerSell1.6K$26.00$41K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
18.7M
settled 2026-08-14
Change vs prior
+2.5%
vs previous settlement
Days to cover
9.29
at avg daily volume
Avg daily volume
2.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1418.7M+2.5%9.29
2026-07-3118.2M+6.6%5.68
2026-07-1517.1M+0.3%8.49
2026-06-3017.1M+4.5%4.43
2026-06-1516.3M+3.1%7.24
2026-05-2915.8M+8.7%6.83
2026-05-1514.6M+6.0%4.21
2026-04-3013.7M-14.4%4.49

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$3.60B$4.15B$4.88B$4.93B$4.54B
Gross profit$862.2M$1.14B$1.56B$1.53B$1.30B
Operating income$386.6M$416.6M$779.1M$909.3M$823.4M
Net income$338.7M$455.4M$706.6M$741.4M$650.0M
Diluted EPS$2.78$3.44$4.87$4.96$4.19

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$3.09B$1.59B$1.53B$1.43B$1.87B
Current assets$5.59B$5.00B$5.16B$4.75B$4.55B
Total assets$8.04B$11.88B$12.14B$11.49B$11.05B
Current liabilities$2.66B$3.56B$3.38B$3.53B$3.34B
Long-term debt$1.65B$4.47B$4.99B$4.46B$4.60B
Total liabilities$4.89B$8.72B$8.89B$8.59B$8.50B
Total equity$3.16B$3.16B$3.25B$2.91B$2.55B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$568.9M$1.06B$754.9M$548.5M$975.7M
Capital expenditure$153.7M$196.6M$207.4M$151.7M$120.2M
Free cash flow$415.2M$867.3M$547.5M$396.8M$855.5M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$1.11B6.1%$79.8M$0.75
Q1 FY2026$1.06B-2.2%$24.8M$0.22
Q4 FY2025$390.5M-9.4%$-279.3M$-2.40
Q3 FY2025$1.08B22.5%$377.4M$3.10
Q2 FY2025$1.05B-22.6%$107.6M$0.88
Q1 FY2025$1.08B-26.8%$133.1M$1.07
Q4 FY2024$430.9M-46.6%$-116.9M$-0.92
Q3 FY2024$881.2M-32.5%$119.0M$0.91

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryMotorcycles, Bicycles & Parts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2015
SEC CIK793952

Selected SEC filings

10-Q2026-08-05
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K/A2026-07-23
View on EDGAR →
8-K2026-07-23
View on EDGAR →
8-K2026-06-26
View on EDGAR →
8-K2026-05-28
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.