For the twelve months ended Sep 30, 2026, Harley-Davidson Inc. reported $3.98B of revenue and -$133.44M of net income.
HOG revenue was $1.08B in fiscal Q3 2026 (ended Sep 30, 2026), down 19.2% from a year earlier and down 12.0% from the prior quarter. For the full fiscal 2025 it was $4.47B, down 13.8% from fiscal 2024. Compound annual growth was +2.0% over 5 years and -2.9% over 10 years. It rose in 5 of the last 10 fiscal years.
HOG net income was $42.76M in fiscal Q3 2026 (ended Sep 30, 2026), down 88.7% from a year earlier and down 45.9% from the prior quarter. For the full fiscal 2025 it was $338.74M, down 25.6% from fiscal 2024. Compound annual growth was +204.3% over 5 years and -7.7% over 10 years. It rose in 3 of the last 10 fiscal years.
HOG diluted EPS was $0.40 in fiscal Q3 2026 (ended Sep 30, 2026), down 87.1% from a year earlier and down 46.7% from the prior quarter. For the full fiscal 2025 it was $2.78, down 19.2% from fiscal 2024. Compound annual growth was +208.2% over 5 years and -2.8% over 10 years.
HOG free cash flow was $315.89M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$129.12M a year earlier and up 103.2% from the prior quarter. For the full fiscal 2025 it was $415.24M, down 52.1% from fiscal 2024. Compound annual growth was -16.9% over 5 years and -6.8% over 10 years. It rose in 5 of the last 10 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.47B | $5.19B | $5.84B | $5.76B | $5.34B | $4.05B | $5.36B | $5.72B | $5.65B | $6.00B |
| Cost of revenue | $2.74B | $3.01B | $3.32B | $3.40B | $3.24B | $2.44B | $3.23B | $3.35B | $3.27B | $3.43B |
| Gross profit | $1.73B | $2.18B | $2.51B | $2.35B | $2.09B | $1.62B | $2.13B | $2.37B | $2.37B | $2.57B |
| Research and development | - | - | $159.30M | $158.60M | $175.10M | $202.40M | $216.50M | $191.60M | $175.20M | $172.30M |
| Selling, general and admin | $1.15B | $1.15B | $1.18B | $1.08B | $1.05B | $1.05B | $1.20B | $1.26B | $1.18B | $1.21B |
| Operating income | $386.63M | $416.63M | $779.08M | $909.28M | $823.44M | $9.68M | $555.61M | $713.52M | $882.08M | $1.05B |
| Interest expense | $33.44M | $30.75M | $30.79M | $31.23M | $30.97M | $31.12M | $31.08M | $30.88M | $31.00M | $29.67M |
| Pre-tax income | $458.73M | $517.14M | $866.88M | $931.23M | $819.24M | -$15.73M | $557.41M | $686.63M | $863.84M | $1.02B |
| Income tax | $129.58M | $71.96M | $171.83M | $192.02M | $169.21M | -$17.03M | $133.78M | $155.18M | $342.08M | $331.75M |
| Net income | $338.74M | $455.36M | $706.59M | $741.41M | $650.02M | $1.30M | $423.63M | $531.45M | $521.76M | $692.16M |
| EPS, basic | $2.82 | $3.46 | $4.96 | $5.01 | $4.23 | $0.01 | $2.70 | $3.21 | $3.03 | $3.85 |
| EPS, diluted | $2.78 | $3.44 | $4.87 | $4.96 | $4.19 | $0.01 | $2.68 | $3.19 | $3.02 | $3.83 |
| Diluted shares | 121.3M | 132.3M | 145.1M | 149.4M | 155.0M | 153.9M | 157.8M | 166.5M | 172.9M | 180.5M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.09B | $1.74B | $1.53B | $1.58B | $2.03B | $3.41B | $905.37M | $1.26B | $746.21M | $827.13M |
| Short-term investments | - | - | - | - | - | - | - | $10.01M | $0 | - |
| Receivables | $225.76M | $234.31M | $267.20M | $252.22M | $182.15M | $143.08M | $259.33M | $306.47M | $329.99M | $285.11M |
| Inventory | $730.90M | $745.79M | $929.95M | $950.96M | $712.94M | $523.50M | $603.57M | $556.13M | $538.20M | $499.92M |
| Current assets | $5.59B | $5.00B | $5.16B | $4.75B | $4.55B | $5.85B | $4.20B | $4.48B | $3.88B | $3.85B |
| Goodwill | $63.91M | $61.66M | $62.70M | $62.09M | $63.18M | $65.98M | $64.16M | $55.05M | $55.95M | $53.39M |
| Total assets | $8.04B | $11.88B | $12.14B | $11.49B | $11.05B | $12.01B | $10.53B | $10.67B | $9.97B | $9.89B |
| Current liabilities | $2.66B | $3.56B | $3.38B | $3.53B | $3.34B | $3.98B | $3.20B | $3.60B | $3.16B | $2.86B |
| Short-term debt | $819.63M | $1.85B | $1.26B | $1.68B | $1.54B | $2.04B | $1.75B | $1.58B | $1.13B | $1.08B |
| Long-term debt | $1.65B | $4.47B | $4.99B | $4.46B | $4.60B | $5.93B | $5.12B | $4.89B | $4.59B | $4.67B |
| Total debt | $2.47B | $6.32B | $6.25B | $6.14B | $6.14B | $7.97B | $6.87B | $6.46B | $5.71B | $5.75B |
| Total liabilities | $4.89B | $8.72B | $8.89B | $8.59B | $8.50B | $10.29B | $8.72B | - | - | - |
| Shareholders' equity | $3.14B | $3.16B | $3.25B | $2.91B | $2.55B | $1.72B | $1.80B | $1.77B | $1.84B | $1.92B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $568.92M | $1.06B | $754.89M | $548.46M | $975.70M | $1.18B | $868.27M | $1.21B | $1.01B | $1.17B |
| Capital expenditures | $153.68M | $196.56M | $207.40M | $151.67M | $120.18M | $131.05M | $181.44M | $213.52M | $206.29M | $256.26M |
| Free cash flow | $415.24M | $867.27M | $547.48M | $396.79M | $855.52M | $1.05B | $686.83M | $992.40M | $798.77M | $918.08M |
| Investing cash flow | $3.78B | -$383.33M | -$512.30M | -$773.01M | -$459.45M | -$66.78M | -$508.13M | -$662.27M | -$562.47M | -$392.73M |
| Financing cash flow | -$3.01B | -$572.32M | -$174.65M | -$201.97M | -$1.88B | $1.37B | -$712.22M | -$14.76M | -$550.26M | -$777.88M |
| Dividends paid | $86.39M | $91.22M | $96.31M | $93.18M | $92.43M | $68.09M | $237.22M | $245.81M | $251.86M | $252.32M |
| Share repurchases | $353.27M | $459.83M | $363.99M | $338.63M | $11.62M | $8.01M | $296.52M | $390.61M | $465.26M | $465.34M |
| Stock-based compensation | $31.75M | $49.01M | $82.90M | $54.35M | $42.16M | $23.49M | $33.73M | $35.54M | $32.49M | $32.34M |
| Depreciation and amortization | $172.37M | $160.67M | $158.11M | $151.94M | $165.19M | $185.72M | $232.54M | $264.86M | $222.19M | $209.56M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -13.8% | -11.1% | 1.4% | 7.8% | 31.6% | -24.4% | -6.2% | 1.2% | -5.8% | 0.0% |
| Net income growth, YoY | -25.6% | -35.6% | -4.7% | 14.1% | 49978.9% | -99.7% | -20.3% | 1.9% | -24.6% | -8.0% |
| EPS growth, YoY | -19.2% | -29.4% | -1.8% | 18.4% | 41800.0% | -99.6% | -16.0% | 5.6% | -21.1% | 3.8% |
| Gross margin | 38.7% | 42.0% | 43.1% | 40.9% | 39.2% | 39.9% | 39.8% | 41.4% | 42.1% | 42.9% |
| Operating margin | 8.6% | 8.0% | 13.3% | 15.8% | 15.4% | 0.2% | 10.4% | 12.5% | 15.6% | 17.4% |
| Net margin | 7.6% | 8.8% | 12.1% | 12.9% | 12.2% | 0.0% | 7.9% | 9.3% | 9.2% | 11.5% |
| Free cash flow margin | 9.3% | 16.7% | 9.4% | 6.9% | 16.0% | 25.8% | 12.8% | 17.4% | 14.1% | 15.3% |
| Return on equity | 10.8% | 14.4% | 21.7% | 25.5% | 25.5% | 0.1% | 23.5% | 30.0% | 28.3% | 36.0% |
| Return on assets | 4.2% | 3.8% | 5.8% | 6.5% | 5.9% | 0.0% | 4.0% | 5.0% | 5.2% | 7.0% |
| Current ratio | 2.10 | 1.40 | 1.53 | 1.34 | 1.36 | 1.47 | 1.31 | 1.25 | 1.23 | 1.35 |
| Debt to equity | 0.79 | 2.00 | 1.92 | 2.11 | 2.40 | 4.63 | 3.81 | 3.64 | 3.10 | 3.00 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.08B | $1.23B | $1.17B | $496.16M | $1.34B | $1.31B | $1.33B | $687.61M | $1.15B | $1.62B | $1.73B | $1.05B |
| Cost of revenue | $701.45M | $809.32M | $794.13M | $421.56M | $798.68M | $750.79M | $770.78M | $439.67M | $618.58M | $924.01M | $1.02B | $631.03M |
| Gross profit | $381.19M | $421.12M | $378.40M | $74.60M | $542.03M | $556.30M | $558.42M | $247.94M | $532.12M | $694.88M | $705.93M | $422.18M |
| Selling, general and admin | $291.31M | $296.91M | $302.45M | $298.38M | $292.88M | $300.56M | $255.66M | $274.26M | $273.88M | $304.01M | $293.10M | $297.96M |
| Operating income | $37.30M | $76.01M | $23.49M | -$361.06M | $474.76M | $112.44M | $160.50M | -$193.35M | $105.80M | $241.10M | $263.08M | -$21.15M |
| Interest expense | $3.63M | $3.62M | $3.57M | $7.88M | $10.18M | $7.70M | $7.69M | $7.68M | $7.71M | $7.68M | $7.68M | $7.68M |
| Pre-tax income | $57.92M | $95.28M | $42.10M | -$341.01M | $491.55M | $130.17M | $178.03M | -$170.29M | $132.95M | $264.11M | $290.37M | $4.57M |
| Income tax | $16.98M | $16.29M | $17.97M | -$58.46M | $116.38M | $24.42M | $47.23M | -$51.86M | $16.98M | $48.71M | $58.13M | -$18.72M |
| Net income | $42.76M | $78.98M | $24.12M | -$279.30M | $377.37M | $105.75M | $130.80M | -$116.89M | $119.04M | $215.41M | $232.23M | $25.81M |
| EPS, basic | $0.41 | $0.76 | $0.23 | -$2.27 | $3.13 | $0.89 | $1.07 | -$0.83 | $0.92 | $1.64 | $1.73 | $0.24 |
| EPS, diluted | $0.40 | $0.75 | $0.22 | -$2.27 | $3.10 | $0.88 | $1.07 | -$0.82 | $0.91 | $1.63 | $1.72 | $0.23 |
| Diluted shares | 106.6M | 108.6M | 110.8M | - | 121.7M | 122.2M | 124.7M | - | 131.0M | 134.1M | 136.9M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.08B | $1.90B | $1.81B | $3.09B | $1.78B | $1.59B | $1.93B | $1.74B | $2.24B | $1.85B | $1.46B | $1.53B |
| Receivables | $276.39M | $301.79M | $285.79M | $225.76M | $305.01M | $325.76M | $313.33M | $234.31M | $307.70M | $321.29M | $305.99M | $267.20M |
| Inventory | $458.75M | $500.94M | $622.19M | $730.90M | $512.19M | $630.29M | $712.31M | $745.79M | $681.86M | $668.92M | $779.58M | $929.95M |
| Current assets | $4.53B | $4.59B | $4.74B | $5.59B | $8.24B | $5.15B | $5.65B | $5.00B | $5.89B | $5.64B | $5.39B | $5.16B |
| Goodwill | $64.38M | $63.61M | $63.44M | $63.91M | $63.85M | $63.84M | $62.35M | $61.66M | $62.91M | $62.15M | $62.29M | $62.70M |
| Total assets | $7.30B | $7.25B | $7.25B | $8.04B | $10.57B | $12.05B | $12.38B | $11.88B | $13.03B | $12.76B | $12.33B | $12.14B |
| Current liabilities | $2.30B | $2.41B | $2.48B | $2.66B | $3.28B | $3.77B | $3.62B | $3.56B | $4.17B | $3.76B | $3.49B | $3.38B |
| Short-term debt | $543.74M | $498.47M | $498.25M | $819.63M | $1.33B | $1.98B | $1.84B | $1.85B | $2.56B | $2.02B | $1.28B | $1.26B |
| Long-term debt | $1.33B | $1.13B | $1.13B | $1.65B | $3.15B | $4.37B | $4.96B | $4.47B | $4.74B | $4.95B | $4.99B | $4.99B |
| Total debt | $1.87B | $1.63B | $1.63B | $2.47B | $4.48B | $6.35B | $6.80B | $6.32B | $7.30B | $6.97B | $6.27B | $6.25B |
| Total liabilities | $4.25B | $4.13B | $4.17B | $4.89B | $7.01B | $8.74B | $9.21B | $8.72B | $9.60B | $9.33B | $9.00B | $8.89B |
| Shareholders' equity | $3.03B | $3.12B | $3.08B | $3.14B | $3.57B | $3.31B | $3.17B | $3.16B | $3.43B | $3.43B | $3.34B | $3.25B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $335.62M | $168.34M | -$228.02M | $152.02M | -$92.59M | $367.96M | $141.53M | $133.18M | $353.01M | $473.64M | $104.00M | $48.12M |
| Capital expenditures | $19.73M | $12.90M | $31.79M | $51.59M | $36.53M | $35.59M | $29.97M | $56.14M | $52.59M | $41.48M | $46.36M | $68.50M |
| Free cash flow | $315.89M | $155.43M | -$259.81M | $100.43M | -$129.12M | $332.37M | $111.56M | $77.04M | $300.42M | $432.17M | $57.64M | -$20.38M |
| Investing cash flow | -$150.71M | -$174.73M | -$92.00M | $3.57B | $295.33M | -$151.25M | $61.40M | $102.85M | -$89.15M | -$284.53M | -$112.50M | -$1.17M |
| Financing cash flow | $12.53M | $100.43M | -$959.34M | -$2.46B | -$131.16M | -$566.70M | $150.19M | -$885.77M | $131.46M | $207.92M | -$25.93M | -$428.22M |
| Dividends paid | $19.17M | $19.67M | $21.54M | $20.10M | $21.53M | $21.84M | $22.92M | $21.77M | $22.09M | $22.97M | $24.39M | $23.54M |
| Share repurchases | $90.78M | $30.37M | $70.02M | $160.06M | $100.07M | $45.0K | $93.09M | $100.02M | $150.13M | $101.86M | $107.81M | $124.56M |
| Stock-based compensation | $7.42M | $9.49M | $8.54M | $5.91M | $8.43M | $10.59M | $6.82M | $9.19M | $10.82M | $12.78M | $16.21M | $18.36M |
| Depreciation and amortization | $38.78M | $42.56M | $44.14M | $46.03M | $44.21M | $40.42M | $41.70M | $41.10M | $39.19M | $38.87M | $41.50M | $45.52M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -19.2% | -5.9% | -11.8% | -27.8% | 16.5% | -19.3% | -23.1% | -34.7% | -25.7% | 12.0% | -3.3% | -7.8% |
| Net income growth, YoY | -88.7% | -25.3% | -81.6% | - | 217.0% | -50.9% | -43.7% | - | -40.1% | 23.9% | -23.1% | -38.4% |
| EPS growth, YoY | -87.1% | -14.8% | -79.4% | - | 240.7% | -46.0% | -37.8% | - | -34.1% | 33.6% | -15.7% | -14.8% |
| Gross margin | 35.2% | 34.2% | 32.3% | 15.0% | 40.4% | 42.6% | 42.0% | 36.1% | 46.2% | 42.9% | 40.8% | 40.1% |
| Operating margin | 3.4% | 6.2% | 2.0% | -72.8% | 35.4% | 8.6% | 12.1% | -28.1% | 9.2% | 14.9% | 15.2% | -2.0% |
| Net margin | 3.9% | 6.4% | 2.1% | -56.3% | 28.1% | 8.1% | 9.8% | -17.0% | 10.3% | 13.3% | 13.4% | 2.5% |
| Free cash flow margin | 29.2% | 12.6% | -22.2% | 20.2% | -9.6% | 25.4% | 8.4% | 11.2% | 26.1% | 26.7% | 3.3% | -1.9% |
| Current ratio | 1.97 | 1.90 | 1.91 | 2.10 | 2.51 | 1.37 | 1.56 | 1.40 | 1.41 | 1.50 | 1.54 | 1.53 |
| Debt to equity | 0.62 | 0.52 | 0.53 | 0.79 | 1.25 | 1.92 | 2.14 | 2.00 | 2.13 | 2.03 | 1.88 | 1.92 |
Source: XBRL data Harley-Davidson Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| HOG | $3.98B | -14.6% | -$133.44M | -3.4% | $3.30B |
| LKQ | $13.51B | -0.4% | $254.00M | 1.9% | $5.06B |
| FOXF | $1.43B | -2.2% | -$407.56M | -28.6% | $748.2M |
| LVWR | $33.45M | +33.4% | -$72.58M | -217.0% | $113.9M |
| INEO | $58.42M | -6.9% | -$397.0K | -0.7% | $9.7M |
| LOBO | $23.22M | +9.6% | -$5.48M | -23.6% | $5.3M |
| EZGO | $20.49M | +12.4% | -$8.69M | -42.4% | $3.0M |
| CTNT | $1.42M | +26.5% | -$2.93M | -206.8% | $2.3M |