Harley-Davidson (HOG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Harley-Davidson

NYSE•Consumer Cyclical•Recreational Vehicles

$26.84-0.73(-0.03%)Pre-market

Market Cap

$2.73B

P/E

13.4x

P/S

0.6x

P/B

0.9x

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, Grand American touring, standard, sportbike, adventure touring, 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, electric bikes, 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.

How this company scores

AverageMetricSide Score: 45/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Growth (5/25).

Profitability11/25

Growth5/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality8/25

Strengths

Low leverageImproving leverageNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.4x5y range 6.4x – 13.4x

Currently above its 20-quarter median.

P/S · 0.6x5y range 0.5x – 1.2x

Currently near its 20-quarter median.

P/B · 0.9x5y range 0.7x – 2.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 1765.9% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $2.73B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.24B
Q. Revenue: $1.23B
TTM EBITDA: $390.15M
TTM Op. Income: $213.20M
Q. Op. Income: $76.01M
TTM Net Income: $202.64M
Q. Net Income: $79.81M
EPS: $0.76
Shares Out.: $105.10M

$4.24B in TTM revenue declined 5.2% YoY, reaching $1.23B last quarter. TTM EBITDA of $390.15M and TTM operating income of $213.20M show growth is flowing through to the bottom line. TTM net income of $202.64M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 34.2%
EBITDA Margin: 9.6%
Op. Margin: 6.2%
Net Margin: 6.5%

Op. margin of 6.2% is down 2.4% YoY — costs are rising relative to revenue. Net margin at 6.5% and gross margin of 34.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.4x
P/S Ratio: 0.6x
P/B Ratio: 0.9x

At 13.4x P/E, the stock trades below typical market levels. P/S of 0.6x and P/B of 0.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.25B
Cash: $1.90B
Long-Term Debt: $1.13B
Book Value: $3.10B
D/E Ratio: 0.4
Debt/EBITDA: 9.5

With $7.25B in assets and $1.13B in long-term debt, D/E is 0.4and book value is $3.10B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $168.34M
TTM Free Cash Flow: $-133.07M
FCF Margin: -3.1%
FCF / Net Income: -0.7

TTM FCF of $-133.07M on $168.34M in operating cash flow. The FCF / Net Income ratio of -0.7x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.