Harley-Davidson (HOG)

NYSE Consumer Discretionary Motorcycle Manufacturers S&P MidCap 400 US auto sales report →

$32.66

+0.08 (+0.25%)

Close of Nov 06, 2026 · end-of-day data

Source: Harley-Davidson's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$6.00B	$5.65B	$5.72B	$5.36B	$3.26B	$4.54B	$4.93B	$4.88B	$4.15B	$3.60B
Cost of revenue	$3.43B	$3.27B	$3.35B	$3.23B	$2.44B	$3.24B	$3.40B	$3.32B	$3.01B	$2.74B
Gross profit	$2.57B	$2.37B	$2.37B	$2.13B	$828.31M	$1.30B	$1.53B	$1.56B	$1.14B	$862.16M
Research & development	$172.30M	$175.20M	$191.60M	$216.50M	$202.40M	$175.10M	$158.60M	$159.30M	—	—
Selling, general & admin	$1.21B	$1.18B	$1.26B	$1.20B	$1.05B	$1.05B	$1.08B	$1.18B	$1.15B	$1.15B
Operating income	$1.05B	$882.08M	$713.52M	$555.61M	$9.68M	$823.44M	$909.28M	$779.08M	$416.63M	$386.63M
Interest expense	$29.67M	$31.00M	$30.88M	$31.08M	$31.12M	$30.97M	$31.23M	$30.79M	$30.75M	$33.44M
Pre-tax income	$1.02B	$863.84M	$686.63M	$557.41M	-$15.73M	$819.24M	$931.23M	$866.88M	$517.14M	$458.73M
Income tax	$331.75M	$342.08M	$155.18M	$133.78M	-$17.03M	$169.21M	$192.02M	$171.83M	$71.96M	$129.58M
Net income	$692.16M	$521.76M	$531.45M	$423.63M	$1.30M	$650.02M	$741.41M	$706.59M	$455.36M	$338.74M
EBITDA	$1.26B	$1.10B	$978.39M	$788.14M	$195.39M	$988.62M	$1.06B	$937.20M	$577.30M	$559.01M
EPS (basic)	$3.85	$3.03	$3.21	$2.70	$0.01	$4.23	$5.01	$4.96	$3.46	$2.82
EPS (diluted)	$3.83	$3.02	$3.19	$2.68	$0.01	$4.19	$4.96	$4.87	$3.44	$2.78
Diluted shares	180.53M	172.93M	166.50M	157.80M	153.91M	154.98M	149.35M	145.10M	132.29M	121.26M
Gross margin	42.9%	42.1%	41.4%	39.8%	25.4%	28.6%	31.0%	32.0%	27.5%	23.9%
Operating margin	17.4%	15.6%	12.5%	10.4%	0.3%	18.1%	18.4%	16.0%	10.0%	10.7%
Net margin	11.5%	9.2%	9.3%	7.9%	0.0%	14.3%	15.0%	14.5%	11.0%	9.4%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$759.98M	$687.52M	$1.20B	$833.87M	$3.26B	$1.87B	$1.43B	$1.53B	$1.59B	$3.09B
Short-term investments	—	$0	$10.01M	—	—	—	—	—	—	—
Receivables	$285.11M	$329.99M	$306.47M	$259.33M	$143.08M	$182.15M	$252.22M	$267.20M	$234.31M	$225.76M
Inventory	$499.92M	$538.20M	$556.13M	$603.57M	$523.50M	$712.94M	$950.96M	$929.95M	$745.79M	$730.90M
Total current assets	$3.85B	$3.88B	$4.48B	$4.20B	$5.85B	$4.55B	$4.75B	$5.16B	$5.00B	$5.59B
Goodwill	$53.39M	$55.95M	$55.05M	$64.16M	$65.98M	$63.18M	$62.09M	$62.70M	$61.66M	$63.91M
Total assets	$9.89B	$9.97B	$10.67B	$10.53B	$12.01B	$11.05B	$11.49B	$12.14B	$11.88B	$8.04B
Total current liabilities	$2.86B	$3.16B	$3.60B	$3.20B	$3.98B	$3.34B	$3.53B	$3.38B	$3.56B	$2.66B
Short-term debt	$2.15B	$2.41B	$2.72B	$2.33B	$2.04B	$1.54B	$1.68B	$1.26B	$1.85B	$819.63M
Long-term debt	$4.67B	$4.59B	$4.89B	$5.12B	$5.93B	$4.60B	$4.46B	$4.99B	$4.47B	$1.65B
Total debt	$6.81B	$6.99B	$7.61B	$7.45B	$7.97B	$6.14B	$6.14B	$6.25B	$6.32B	$2.47B
Total liabilities	$7.97B	$8.13B	$8.89B	$8.72B	$10.29B	$8.50B	$8.59B	$8.89B	$8.72B	$4.90B
Shareholders' equity	$1.92B	$1.84B	$1.77B	$1.80B	$1.72B	$2.55B	$2.90B	$3.25B	$3.17B	$3.14B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$1.17B	$1.01B	$1.21B	$868.27M	$1.18B	$975.70M	$548.46M	$754.89M	$1.06B	$568.92M
Capital expenditures	$256.26M	$206.29M	$213.52M	$181.44M	$131.05M	$120.18M	$151.67M	$207.40M	$196.56M	$153.68M
Free cash flow	$918.08M	$798.77M	$992.40M	$686.83M	$1.05B	$855.52M	$396.79M	$547.48M	$867.27M	$415.24M
Investing cash flow	-$392.73M	-$562.47M	-$662.27M	-$508.13M	-$66.78M	-$459.45M	-$773.01M	-$512.30M	-$383.33M	$3.78B
Financing cash flow	-$777.88M	-$550.26M	-$14.76M	-$712.22M	$1.37B	-$1.88B	-$201.97M	-$174.65M	-$572.32M	-$3.01B
Dividends paid	$252.32M	$251.86M	$245.81M	$237.22M	$68.09M	$92.43M	$93.18M	$96.31M	$91.22M	$86.39M
Share buybacks	$465.34M	$465.26M	$390.61M	$296.52M	$8.01M	$11.62M	$338.63M	$363.99M	$459.83M	$353.27M
Stock-based compensation	$32.34M	$32.49M	$35.54M	$33.73M	$23.49M	$42.16M	$54.35M	$82.90M	$49.01M	$31.75M
Depreciation & amortization	$209.56M	$222.19M	$264.86M	$232.54M	$185.72M	$165.19M	$151.94M	$158.11M	$160.67M	$172.37M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$807.01M	$1.48B	$1.36B	$881.21M	$430.89M	$1.08B	$1.05B	$1.08B	$390.55M	$1.06B	$1.11B	$971.88M
Cost of revenue	$631.03M	$1.02B	$924.01M	$618.58M	$439.67M	$770.78M	$750.79M	$798.68M	$421.56M	$794.13M	$809.32M	$701.45M
Gross profit	$175.98M	$457.13M	$431.34M	$262.63M	-$8.78M	$313.46M	$298.87M	$280.84M	-$31.01M	$266.45M	$304.08M	$270.43M
Selling, general & admin	$297.96M	$293.10M	$304.01M	$273.88M	$274.26M	$255.66M	$300.56M	$292.88M	$298.38M	$302.45M	$296.91M	$291.31M
Operating income	-$21.15M	$263.08M	$241.10M	$105.80M	-$193.35M	$160.50M	$112.44M	$474.76M	-$361.06M	$23.49M	$76.01M	$37.30M
Interest expense	$7.68M	$7.68M	$7.68M	$7.71M	$7.68M	$7.69M	$7.70M	$10.18M	$7.88M	$3.57M	$3.62M	$3.63M
Pre-tax income	$4.57M	$290.37M	$264.11M	$132.95M	-$170.29M	$178.03M	$130.17M	$491.55M	-$341.01M	$42.10M	$95.28M	$57.92M
Income tax	-$18.72M	$58.13M	$48.71M	$16.98M	-$51.86M	$47.23M	$24.42M	$116.38M	-$58.46M	$17.97M	$16.29M	$16.98M
Net income	$25.81M	$234.94M	$218.27M	$119.04M	-$116.89M	$133.10M	$107.57M	$377.37M	-$279.30M	$24.77M	$79.81M	$42.76M
EBITDA	$24.37M	$304.58M	$279.97M	$144.99M	-$152.24M	$202.20M	$152.86M	$518.97M	-$315.03M	$67.63M	$118.57M	$76.08M
EPS (basic)	$0.22	$1.73	$1.64	$0.92	$-0.84	$1.07	$0.89	$3.13	$-2.25	$0.23	$0.76	$0.41
EPS (diluted)	$0.22	$1.72	$1.63	$0.91	$-0.83	$1.07	$0.88	$3.10	$-2.25	$0.22	$0.75	$0.40
Diluted shares	-1.23M	136.92M	134.11M	130.96M	-1.70M	124.72M	122.20M	121.68M	-1.60M	110.77M	108.57M	106.59M
Gross margin	21.8%	30.9%	31.8%	29.8%	-2.0%	28.9%	28.5%	26.0%	-7.9%	25.1%	27.3%	27.8%
Operating margin	-2.6%	17.8%	17.8%	12.0%	-44.9%	14.8%	10.7%	44.0%	-92.4%	2.2%	6.8%	3.8%
Net margin	3.2%	15.9%	16.1%	13.5%	-27.1%	12.3%	10.2%	35.0%	-71.5%	2.3%	7.2%	4.4%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$1.53B	$1.46B	$1.85B	$2.24B	$1.59B	$1.93B	$1.59B	$1.78B	$3.09B	$1.81B	$1.90B	$2.08B
Receivables	$267.20M	$305.99M	$321.29M	$307.70M	$234.31M	$313.33M	$325.76M	$305.01M	$225.76M	$285.79M	$301.79M	$276.39M
Inventory	$929.95M	$779.58M	$668.92M	$681.86M	$745.79M	$712.31M	$630.29M	$512.19M	$730.90M	$622.19M	$500.94M	$458.75M
Total current assets	$5.16B	$5.39B	$5.64B	$5.89B	$5.00B	$5.65B	$5.15B	$8.24B	$5.59B	$4.74B	$4.59B	$4.53B
Goodwill	$62.70M	$62.29M	$62.15M	$62.91M	$61.66M	$62.35M	$63.84M	$63.85M	$63.91M	$63.44M	$63.61M	$64.38M
Total assets	$12.14B	$12.33B	$12.76B	$13.03B	$11.88B	$12.38B	$12.05B	$10.57B	$8.04B	$7.25B	$7.25B	$7.30B
Total current liabilities	$3.38B	$3.49B	$3.76B	$4.17B	$3.56B	$3.62B	$3.77B	$3.28B	$2.66B	$2.48B	$2.41B	$2.30B
Short-term debt	$1.26B	$1.28B	$2.02B	$2.56B	$1.85B	$1.84B	$1.98B	$1.33B	$819.63M	$498.25M	$498.47M	$543.74M
Long-term debt	$4.99B	$4.99B	$4.95B	$4.74B	$4.47B	$4.96B	$4.37B	$3.15B	$1.65B	$1.13B	$1.13B	$1.33B
Total debt	$6.25B	$6.27B	$6.97B	$7.30B	$6.32B	$6.80B	$6.35B	$4.48B	$2.47B	$1.63B	$1.63B	$1.87B
Total liabilities	$8.89B	$9.00B	$9.32B	$9.60B	$8.72B	$9.20B	$8.73B	$6.99B	$4.90B	$4.18B	$4.15B	$4.26B
Shareholders' equity	$3.25B	$3.34B	$3.44B	$3.43B	$3.17B	$3.18B	$3.32B	$3.57B	$3.14B	$3.06B	$3.10B	$3.03B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$48.12M	$104.00M	$473.64M	$353.01M	$133.18M	$141.53M	$367.96M	-$92.59M	$152.02M	-$228.02M	$168.34M	$335.62M
Capital expenditures	$68.50M	$46.36M	$41.48M	$52.59M	$56.14M	$29.97M	$35.59M	$36.53M	$51.59M	$31.79M	$12.90M	$19.73M
Free cash flow	-$20.38M	$57.64M	$432.17M	$300.42M	$77.04M	$111.56M	$332.37M	-$129.12M	$100.43M	-$259.81M	$155.43M	$315.89M
Investing cash flow	-$1.17M	-$112.50M	-$284.53M	-$89.15M	$102.85M	$61.40M	-$151.25M	$295.33M	$3.57B	-$92.00M	-$174.73M	-$150.71M
Financing cash flow	-$428.22M	-$25.93M	$207.92M	$131.46M	-$885.77M	$150.19M	-$566.70M	-$131.16M	-$2.46B	-$959.34M	$100.43M	$12.53M
Dividends paid	$23.54M	$24.39M	$22.97M	$22.09M	$21.77M	$22.92M	$21.84M	$21.53M	$20.10M	$21.54M	$19.67M	$19.17M
Share buybacks	$124.56M	$107.81M	$101.86M	$150.13M	$100.02M	$93.09M	$45.00K	$100.07M	$160.06M	$70.02M	$30.37M	$90.78M
Stock-based compensation	$18.36M	$16.21M	$12.78M	$10.82M	$9.19M	$6.82M	$10.59M	$8.43M	$5.91M	$8.54M	$9.49M	$7.42M
Depreciation & amortization	$45.52M	$41.50M	$38.87M	$39.19M	$41.10M	$41.70M	$40.42M	$44.21M	$46.03M	$44.14M	$42.56M	$38.78M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.