HARLEY-DAVIDSON INC (HAR.DE) Fundamental Analysis & Valuation

FRA:HAR • US4128221086

Current stock price

23.99 EUR
-1.32 (-5.22%)
Last:

This HAR.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. HAR.DE Profitability Analysis

1.1 Basic Checks

  • HAR had positive earnings in the past year.
  • HAR had a positive operating cash flow in the past year.
  • Each year in the past 5 years HAR has been profitable.
  • In the past 5 years HAR always reported a positive cash flow from operatings.
HAR.DE Yearly Net Income VS EBIT VS OCF VS FCFHAR.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

1.2 Ratios

  • HAR has a Return On Assets (2.02%) which is in line with its industry peers.
  • Looking at the Return On Equity, with a value of 7.32%, HAR is in the better half of the industry, outperforming 65.63% of the companies in the same industry.
  • HAR has a Return On Invested Capital of 1.75%. This is in the lower half of the industry: HAR underperforms 65.63% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for HAR is in line with the industry average of 5.78%.
  • The 3 year average ROIC (6.41%) for HAR is well above the current ROIC(1.75%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 2.02%
ROE 7.32%
ROIC 1.75%
ROA(3y)5.37%
ROA(5y)4.4%
ROE(3y)20.55%
ROE(5y)17.43%
ROIC(3y)6.41%
ROIC(5y)5.73%
HAR.DE Yearly ROA, ROE, ROICHAR.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • HAR's Profit Margin of 5.43% is amongst the best of the industry. HAR outperforms 81.25% of its industry peers.
  • HAR's Profit Margin has improved in the last couple of years.
  • HAR's Operating Margin of 4.14% is on the low side compared to the rest of the industry. HAR is outperformed by 65.63% of its industry peers.
  • In the last couple of years the Operating Margin of HAR has declined.
  • HAR has a better Gross Margin (34.04%) than 81.25% of its industry peers.
  • In the last couple of years the Gross Margin of HAR has remained more or less at the same level.
Industry RankSector Rank
OM 4.14%
PM (TTM) 5.43%
GM 34.04%
OM growth 3Y-19.67%
OM growth 5Y-6.04%
PM growth 3Y-10.34%
PM growth 5Y2.13%
GM growth 3Y-0.69%
GM growth 5Y-0.54%
HAR.DE Yearly Profit, Operating, Gross MarginsHAR.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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4

2. HAR.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), HAR is destroying value.
  • HAR has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for HAR has been reduced compared to 5 years ago.
  • Compared to 1 year ago, HAR has about the same debt to assets ratio.
HAR.DE Yearly Shares OutstandingHAR.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
HAR.DE Yearly Total Debt VS Total AssetsHAR.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

  • HAR has an Altman-Z score of 1.22. This is a bad value and indicates that HAR is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.22, HAR is in line with its industry, outperforming 46.88% of the companies in the same industry.
  • HAR has a debt to FCF ratio of 8.35. This is a slightly negative value and a sign of low solvency as HAR would need 8.35 years to pay back of all of its debts.
  • HAR's Debt to FCF ratio of 8.35 is fine compared to the rest of the industry. HAR outperforms 71.88% of its industry peers.
  • A Debt/Equity ratio of 1.47 is on the high side and indicates that HAR has dependencies on debt financing.
  • HAR's Debt to Equity ratio of 1.47 is on the low side compared to the rest of the industry. HAR is outperformed by 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 8.35
Altman-Z 1.22
ROIC/WACC0.23
WACC7.6%
HAR.DE Yearly LT Debt VS Equity VS FCFHAR.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.3 Liquidity

  • HAR has a Current Ratio of 1.37. This is a normal value and indicates that HAR is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of HAR (1.37) is better than 71.88% of its industry peers.
  • HAR has a Quick Ratio of 1.20. This is a normal value and indicates that HAR is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.20, HAR belongs to the top of the industry, outperforming 81.25% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 1.2
HAR.DE Yearly Current Assets VS Current LiabilitesHAR.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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3

3. HAR.DE Growth Analysis

3.1 Past

  • HAR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -60.69%.
  • The Earnings Per Share has been growing slightly by 4.52% on average over the past years.
  • HAR shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -24.81%.
  • The Revenue has been decreasing by -0.66% on average over the past years.
EPS 1Y (TTM)-60.69%
EPS 3Y-7.45%
EPS 5Y4.52%
EPS Q2Q%-46.01%
Revenue 1Y (TTM)-24.81%
Revenue growth 3Y-0.94%
Revenue growth 5Y-0.66%
Sales Q2Q%-22.63%

3.2 Future

  • The Earnings Per Share is expected to grow by 11.30% on average over the next years. This is quite good.
  • HAR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.41% yearly.
EPS Next Y23.81%
EPS Next 2Y-10.36%
EPS Next 3Y1.86%
EPS Next 5Y11.3%
Revenue Next Year-11.31%
Revenue Next 2Y-4.02%
Revenue Next 3Y-2.77%
Revenue Next 5Y-0.41%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
HAR.DE Yearly Revenue VS EstimatesHAR.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 1B 2B 3B 4B 5B
HAR.DE Yearly EPS VS EstimatesHAR.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2 4 6 8

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6

4. HAR.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 14.63, HAR is valued correctly.
  • HAR's Price/Earnings ratio is a bit cheaper when compared to the industry. HAR is cheaper than 62.50% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.54. HAR is valued slightly cheaper when compared to this.
  • HAR is valuated reasonably with a Price/Forward Earnings ratio of 10.52.
  • HAR's Price/Forward Earnings ratio is in line with the industry average.
  • HAR is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.68, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.63
Fwd PE 10.52
HAR.DE Price Earnings VS Forward Price EarningsHAR.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • HAR's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. HAR is more expensive than 62.50% of the companies in the same industry.
  • HAR's Price/Free Cash Flow ratio is rather cheap when compared to the industry. HAR is cheaper than 93.75% of the companies in the same industry.
Industry RankSector Rank
P/FCF 4.17
EV/EBITDA 23.53
HAR.DE Per share dataHAR.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • HAR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of HAR may justify a higher PE ratio.
PEG (NY)0.61
PEG (5Y)3.24
EPS Next 2Y-10.36%
EPS Next 3Y1.86%

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4

5. HAR.DE Dividend Analysis

5.1 Amount

  • HAR has a Yearly Dividend Yield of 2.55%. Purely for dividend investing, there may be better candidates out there.
  • HAR's Dividend Yield is comparable with the industry average which is at 3.46.
  • Compared to an average S&P500 Dividend Yield of 1.82, HAR pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.55%

5.2 History

  • The dividend of HAR decreases each year by -14.37%.
Dividend Growth(5Y)-14.37%
Div Incr Years4
Div Non Decr Years4
HAR.DE Yearly Dividends per shareHAR.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • 36.50% of the earnings are spent on dividend by HAR. This is a low number and sustainable payout ratio.
DP36.5%
EPS Next 2Y-10.36%
EPS Next 3Y1.86%
HAR.DE Yearly Income VS Free CF VS DividendHAR.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
HAR.DE Dividend Payout.HAR.DE Dividend Payout, showing the Payout Ratio.HAR.DE Dividend Payout.PayoutRetained Earnings

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HAR.DE Fundamentals: All Metrics, Ratios and Statistics

HARLEY-DAVIDSON INC

FRA:HAR (9/25/2025, 7:00:00 PM)

23.99

-1.32 (-5.22%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Industry Strength5.59
Industry Growth6.83
Earnings (Last)07-30
Earnings (Next)10-22
Inst Owners93.32%
Inst Owner ChangeN/A
Ins Owners0.25%
Ins Owner ChangeN/A
Market Cap2.92B
Revenue(TTM)4.47B
Net Income(TTM)242.82M
Analysts71
Price Target25.53 (6.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.55%
Yearly Dividend0.6
Dividend Growth(5Y)-14.37%
DP36.5%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)13.2%
Min EPS beat(2)-8.96%
Max EPS beat(2)35.35%
EPS beat(4)2
Avg EPS beat(4)0.25%
Min EPS beat(4)-39.22%
Max EPS beat(4)35.35%
EPS beat(8)6
Avg EPS beat(8)49.94%
EPS beat(12)9
Avg EPS beat(12)70.97%
EPS beat(16)12
Avg EPS beat(16)66.85%
Revenue beat(2)0
Avg Revenue beat(2)-4.44%
Min Revenue beat(2)-6.15%
Max Revenue beat(2)-2.74%
Revenue beat(4)0
Avg Revenue beat(4)-7.37%
Min Revenue beat(4)-10.44%
Max Revenue beat(4)-2.74%
Revenue beat(8)2
Avg Revenue beat(8)-3.99%
Revenue beat(12)5
Avg Revenue beat(12)2.95%
Revenue beat(16)9
Avg Revenue beat(16)8.54%
PT rev (1m)-0.55%
PT rev (3m)-2.22%
EPS NQ rev (1m)-3.43%
EPS NQ rev (3m)73.66%
EPS NY rev (1m)0.74%
EPS NY rev (3m)57.44%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.49%
Revenue NY rev (1m)-0.35%
Revenue NY rev (3m)-1.63%
Valuation
Industry RankSector Rank
PE 14.63
Fwd PE 10.52
P/S 0.76
P/FCF 4.17
P/OCF 3.44
P/B 1.03
P/tB 1.05
EV/EBITDA 23.53
EPS(TTM)1.64
EY6.84%
EPS(NY)2.28
Fwd EY9.51%
FCF(TTM)5.76
FCFY24.01%
OCF(TTM)6.98
OCFY29.1%
SpS31.37
BVpS23.26
TBVpS22.81
PEG (NY)0.61
PEG (5Y)3.24
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA 2.02%
ROE 7.32%
ROCE 2.24%
ROIC 1.75%
ROICexc 2.14%
ROICexgc 2.16%
OM 4.14%
PM (TTM) 5.43%
GM 34.04%
FCFM 18.36%
ROA(3y)5.37%
ROA(5y)4.4%
ROE(3y)20.55%
ROE(5y)17.43%
ROIC(3y)6.41%
ROIC(5y)5.73%
ROICexc(3y)7.68%
ROICexc(5y)7.1%
ROICexgc(3y)7.75%
ROICexgc(5y)7.17%
ROCE(3y)8.44%
ROCE(5y)7.56%
ROICexgc growth 3Y-23.42%
ROICexgc growth 5Y-7.47%
ROICexc growth 3Y-23.38%
ROICexc growth 5Y-7.45%
OM growth 3Y-19.67%
OM growth 5Y-6.04%
PM growth 3Y-10.34%
PM growth 5Y2.13%
GM growth 3Y-0.69%
GM growth 5Y-0.54%
F-Score5
Asset Turnover0.37
Health
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF 8.35
Debt/EBITDA 14
Cap/Depr 107.3%
Cap/Sales 3.9%
Interest Coverage 250
Cash Conversion 286.27%
Profit Quality 338.27%
Current Ratio 1.37
Quick Ratio 1.2
Altman-Z 1.22
F-Score5
WACC7.6%
ROIC/WACC0.23
Cap/Depr(3y)117.79%
Cap/Depr(5y)99.35%
Cap/Sales(3y)3.33%
Cap/Sales(5y)3.09%
Profit Quality(3y)107.15%
Profit Quality(5y)16195.2%
High Growth Momentum
Growth
EPS 1Y (TTM)-60.69%
EPS 3Y-7.45%
EPS 5Y4.52%
EPS Q2Q%-46.01%
EPS Next Y23.81%
EPS Next 2Y-10.36%
EPS Next 3Y1.86%
EPS Next 5Y11.3%
Revenue 1Y (TTM)-24.81%
Revenue growth 3Y-0.94%
Revenue growth 5Y-0.66%
Sales Q2Q%-22.63%
Revenue Next Year-11.31%
Revenue Next 2Y-4.02%
Revenue Next 3Y-2.77%
Revenue Next 5Y-0.41%
EBIT growth 1Y-73.22%
EBIT growth 3Y-20.42%
EBIT growth 5Y-6.66%
EBIT Next Year47.42%
EBIT Next 3Y3.96%
EBIT Next 5Y9.11%
FCF growth 1Y54.51%
FCF growth 3Y0.46%
FCF growth 5Y4.77%
OCF growth 1Y39.3%
OCF growth 3Y2.92%
OCF growth 5Y4.15%

HARLEY-DAVIDSON INC / HAR.DE Fundamental Analysis FAQ

What is the fundamental rating for HAR stock?

ChartMill assigns a fundamental rating of 5 / 10 to HAR.DE.


Can you provide the valuation status for HARLEY-DAVIDSON INC?

ChartMill assigns a valuation rating of 6 / 10 to HARLEY-DAVIDSON INC (HAR.DE). This can be considered as Fairly Valued.


How profitable is HARLEY-DAVIDSON INC (HAR.DE) stock?

HARLEY-DAVIDSON INC (HAR.DE) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for HAR stock?

The Price/Earnings (PE) ratio for HARLEY-DAVIDSON INC (HAR.DE) is 14.63 and the Price/Book (PB) ratio is 1.03.


Can you provide the financial health for HAR stock?

The financial health rating of HARLEY-DAVIDSON INC (HAR.DE) is 4 / 10.