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Harley-Davidson HOG
$ 28.1 0.93%
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Quarterly report 2026-Q2
added 08-05-2026

Harley-Davidson Financial Ratios 2025-2006 | HOG

Brief overview of Harley-Davidson's financial ratios

The review covers five available annual periods spanning 2021 to 2025.

Market valuation is represented by P/E 6.51x (median 7.58x), EV/EBITDA 3.22x (median 3.96x), P/S 0.49x (median 0.9x). Valuation is roughly 34.2% below five-year reference levels. The discount may reflect opportunity or higher perceived risk.

Earnings yield calculated as 1/P/E is about 15.4%, showing current profit per unit of share price.

Returns on assets and capital are represented by ROE 10.8%, ROA 4.2%, ROCE 12.3%. Capital returns look adequate and support overall financial resilience.

The cash conversion cycle lengthened from 43.2 days to 71.3 days, or 28 days. More cash is tied up in operations.

What the ratios show

Harley-Davidson's high-quality returns come with historically restrained multiples. Price appears more cautious than current business efficiency.

Annual Financial Ratios Harley-Davidson

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

P/E

 6.5 7.6 7.4 9.3 8.8 4246.2 12.6 11.4 16.8 15.0 10.8 15.8 19.2 19.3 17.1 46.5 -77.9 0.0 - -

P/S

 0.5 0.7 0.9 1.2 1.1 1.4 1.0 1.1 1.5 1.7 1.4 2.1 2.4 2.2 1.9 1.4 0.9 0.0 - -

EPS

 2.8 3.5 5.0 5.0 4.2 0.0 2.7 3.2 3.0 3.9 3.7 3.9 3.3 2.8 2.6 0.6 -0.2 2.8 3.8 -

EV (Enterprise Value)

 -887 M 1.86 B 3.71 B 5.49 B 3.87 B 2.25 B 13.2 B 13.7 B 16.2 B 17.6 B 15.5 B 19.1 B 19.4 B 17.6 B 16 B 5.79 B 2.66 B -559 M -403 M -238 M

EBITDA per Share

 4.66 4.39 6.58 7.17 6.43 1.28 5.22 6.47 6.47 7 6.68 6.75 5.93 5.27 4.68 3.5 1.9 5.46 K - -

EV/EBITDA

 -1.6 3.2 4.0 5.2 3.9 36.5 13.9 10.5 12.4 12.2 9.7 11.8 13.3 13.2 13.2 7.1 6.0 -0.4 -0.3 -

PEG

 0.09 0.13 0.12 0.15 0.15 -217.71 -0.79 1.91 -0.79 3.98 -2.21 0.87 0.96 2.75 0.06 - - - - -

P/B

 0.3 0.3 0.4 0.6 0.5 0.5 3.0 3.4 4.7 5.4 4.4 4.6 4.7 4.7 4.2 0.7 0.5 0.0 - -

P/CF

 3.9 3.2 6.9 12.6 5.9 4.7 7.8 6.1 10.9 11.3 9.6 14.6 18.3 19.7 14.7 - - - - -

ROE %

 10.79 14.38 21.72 25.53 25.46 0.08 23.48 29.96 28.29 36.05 40.89 29.03 24.39 24.39 24.75 6.64 -2.61 30.95 39.31 -

ROA %

 4.21 3.83 5.82 6.45 5.88 0.01 4.02 4.98 5.23 7.00 7.53 8.86 7.80 6.80 6.19 1.55 -0.60 8.36 - -

ROCE %

 12.31 13.16 23.95 31.32 32.25 0.56 8.02 11.42 13.08 14.93 15.97 17.94 16.70 13.42 12.87 25.40 9.30 50.06 60.01 -

Current Ratio

 - - - - - - 1.3 1.2 1.2 1.3 1.4 1.7 1.6 2.7 1.7 - - - - -

DSO

 18.8 17.6 16.2 13.8 11.1 18.1 172.4 160.9 157.4 143.7 140.1 126.8 125.9 129.1 136.0 10.1 20.4 8.1 - -

DIO

 98.3 101.7 103.3 89.2 69.6 84.4 64.0 57.3 57.1 50.8 60.8 44.2 43.5 42.0 45.7 - - - - -

DPO

 45.8 39.3 39.9 40.4 37.5 43.9 31.2 29.3 24.1 23.9 24.4 19.4 24.6 27.5 28.0 - - - - -

Operating Cycle

 117.1 119.4 119.6 103.0 80.7 102.6 236.4 218.2 214.5 194.5 200.9 171.0 169.4 171.1 181.8 10.1 20.4 8.1 - -

Cash Conversion Cycle

 71.3 80.0 79.6 62.6 43.2 58.7 205.2 188.9 190.4 170.6 176.4 151.6 144.8 143.6 153.8 10.1 20.4 8.1 - -

All numbers in USD currency

Quarterly Financial Ratios Harley-Davidson

2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q3 2024-Q2 2024-Q1 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2 2010-Q1 2009-Q3 2009-Q2

EPS

 0.76 0.23 3.13 0.89 1.07 0.92 1.64 1.73 1.4 1.24 2.08 - 1.79 1.47 1.46 - 1.06 1.34 1.69 - 0.78 -0.6 0.46 0.09 0.55 1.23 0.8 - 0.69 1.45 1.04 - 0.4 1.48 1.06 - 0.64 1.55 1.37 0.22 0.69 1.44 1.28 0.35 0.7 1.63 1.21 0.34 0.73 1.22 1 0.31 0.59 1.08 0.75 0.46 0.79 0.81 0.51 0.38 0.3 0.14 0.11 0.08

EBITDA per Share

 1.13 0.61 4.3 1.26 1.63 1.11 2.1 2.24 - - 2.77 - 3.1 1.89 2.15 - 2.12 1.82 2.52 - 1.81 -0.13 1.01 - 1.88 2.4 1.45 - 2.08 2.73 1.78 - 1.52 2.91 1.96 - 1.87 2.84 2.39 - 1.76 2.68 2.17 - 1.65 2.92 2.07 - 1.69 2.31 1.74 - 1.52 2.09 1.39 - 1.6 1.67 1.01 - - - - -

ROE %

 17.19 18.80 21.46 17.24 21.04 22.86 24.97 28.45 30.61 32.80 36.09 26.25 33.24 33.49 38.41 29.54 36.52 24.18 18.78 5.67 10.47 14.34 26.78 22.73 29.15 38.02 37.02 29.93 33.63 41.25 37.69 27.84 33.78 44.69 43.70 33.59 35.88 37.57 39.27 40.89 41.16 38.69 34.56 29.03 28.98 29.23 26.08 24.39 24.64 24.48 25.11 24.39 21.64 16.41 6.75 0.02 4.08 7.40 8.99 10.14 6.96 1.60 1.16 0.88

ROA %

 5.91 5.88 6.45 4.59 5.60 6.12 6.69 7.51 7.79 7.98 8.54 6.01 7.47 7.17 7.67 5.63 6.63 4.41 3.10 0.81 1.64 2.49 4.48 3.90 4.96 6.41 6.19 4.98 5.66 7.19 6.79 5.15 6.30 8.45 8.39 6.52 6.94 7.20 7.37 7.54 7.90 8.07 8.78 8.87 8.89 9.04 8.21 7.80 7.77 7.50 7.31 6.80 6.03 4.57 1.88 0.01 0.89 1.58 1.89 2.18 1.52 0.31 0.28 0.23

ROCE %

 19.90 22.49 24.81 18.53 23.02 24.30 28.16 33.10 37.14 41.35 45.94 33.99 42.74 43.65 50.63 39.10 47.10 31.62 25.02 7.51 14.15 20.35 36.35 30.11 38.53 50.15 49.27 40.01 45.13 58.36 55.78 42.45 51.74 68.09 66.69 51.01 62.75 78.60 79.42 59.17 66.87 73.96 62.94 40.65 49.01 55.66 48.40 34.28 42.77 49.72 46.14 34.57 44.59 48.58 41.25 30.48 37.43 37.64 32.49 27.56 23.74 7.32 3.04 3.14

DSO

 21.8 23.0 21.5 22.3 21.3 24.9 17.7 16.4 19.0 20.9 14.9 - 16.7 17.3 13.3 - 18.2 14.3 11.5 - 11.2 15.1 14.1 - 18.6 14.5 18.6 - 21.3 16.3 18.8 - 26.2 17.1 18.7 - 20.4 14.0 13.9 - 17.1 12.4 13.5 - 17.4 11.3 13.4 - 17.7 13.3 14.3 - 16.8 12.1 14.3 - 14.3 13.3 19.6 20.1 18.6 23.6 - -

DIO

 63.3 65.2 65.3 81.6 82.5 99.6 71.5 69.0 82.5 96.8 80.7 - 67.8 74.7 72.7 - 50.1 45.8 55.9 - 70.6 85.0 65.8 - 73.5 56.2 62.4 - 65.3 51.1 56.1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

DPO

 49.0 46.1 40.6 49.2 44.3 50.4 38.2 34.8 37.9 44.1 35.4 - 41.2 46.4 43.4 - 43.6 41.1 39.0 - 39.2 47.3 34.2 - 35.9 27.4 31.2 - 33.5 26.2 26.3 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

 - - 86.7 103.9 103.8 124.6 89.2 85.4 101.5 117.7 95.6 - 84.5 92.0 86.0 - 68.3 60.1 67.5 - 81.8 100.1 80.0 - 92.1 70.7 81.0 - 86.6 67.4 74.9 - 26.2 17.1 18.7 - 20.4 14.0 13.9 - 17.1 12.4 13.5 - 17.4 11.3 13.4 - 17.7 13.3 14.3 - 16.8 12.1 14.3 - 14.3 13.3 - - - - - -

Cash Conversion Cycle

 - - 46.2 54.6 59.5 74.2 51.0 50.6 63.6 73.6 60.2 - 43.3 45.7 42.6 - 24.7 19.0 28.5 - 42.6 52.9 45.8 - 56.3 43.3 49.9 - 53.1 41.2 48.6 - 26.2 17.1 18.7 - 20.4 14.0 13.9 - 17.1 12.4 13.5 - 17.4 11.3 13.4 - 17.7 13.3 14.3 - 16.8 12.1 14.3 - 14.3 13.3 - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Harley-Davidson, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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