HARLEY-DAVIDSON INC (HOG) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:HOG • US4128221086

20.49 USD
+0.4 (+1.99%)
At close: Feb 6, 2026
20.5 USD
+0.01 (+0.05%)
After Hours: 2/6/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Taking everything into account, HOG scores 6 out of 10 in our fundamental rating. HOG was compared to 35 industry peers in the Automobiles industry. Both the health and profitability get an excellent rating, making HOG a very profitable company, without any liquidiy or solvency issues. HOG is valued quite cheap, but it does not seem to be growing. This makes HOG very considerable for value investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • In the past year HOG was profitable.
  • In the past year HOG had a positive cash flow from operations.
  • Each year in the past 5 years HOG has been profitable.
  • Each year in the past 5 years HOG had a positive operating cash flow.
HOG Yearly Net Income VS EBIT VS OCF VS FCFHOG 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

  • The Return On Assets of HOG (4.74%) is better than 94.29% of its industry peers.
  • Looking at the Return On Equity, with a value of 14.03%, HOG belongs to the top of the industry, outperforming 97.14% of the companies in the same industry.
  • The Return On Invested Capital of HOG (5.78%) is better than 97.14% of its industry peers.
  • HOG had an Average Return On Invested Capital over the past 3 years of 6.41%. This is in line with the industry average of 5.26%.
Industry RankSector Rank
ROA 4.74%
ROE 14.03%
ROIC 5.78%
ROA(3y)5.37%
ROA(5y)4.4%
ROE(3y)20.55%
ROE(5y)17.43%
ROIC(3y)6.41%
ROIC(5y)5.73%
HOG Yearly ROA, ROE, ROICHOG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • HOG's Profit Margin of 10.74% is amongst the best of the industry. HOG outperforms 97.14% of its industry peers.
  • HOG's Profit Margin has improved in the last couple of years.
  • HOG has a Operating Margin of 11.88%. This is amongst the best in the industry. HOG outperforms 97.14% of its industry peers.
  • HOG's Operating Margin has declined in the last couple of years.
  • With an excellent Gross Margin value of 33.26%, HOG belongs to the best of the industry, outperforming 91.43% of the companies in the same industry.
  • HOG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 11.88%
PM (TTM) 10.74%
GM 33.26%
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%
HOG Yearly Profit, Operating, Gross MarginsHOG 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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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. Health

2.1 Basic Checks

  • HOG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • HOG has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, HOG has less shares outstanding
  • Compared to 1 year ago, HOG has about the same debt to assets ratio.
HOG Yearly Shares OutstandingHOG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
HOG Yearly Total Debt VS Total AssetsHOG 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

  • HOG has an Altman-Z score of 1.91. This is not the best score and indicates that HOG is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 1.91, HOG belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
  • HOG has a debt to FCF ratio of 13.17. This is a negative value and a sign of low solvency as HOG would need 13.17 years to pay back of all of its debts.
  • The Debt to FCF ratio of HOG (13.17) is better than 82.86% of its industry peers.
  • HOG has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.07, HOG is not doing good in the industry: 62.86% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 13.17
Altman-Z 1.91
ROIC/WACC0.8
WACC7.2%
HOG Yearly LT Debt VS Equity VS FCFHOG 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

  • HOG has a Current Ratio of 2.51. This indicates that HOG is financially healthy and has no problem in meeting its short term obligations.
  • HOG has a better Current ratio (2.51) than 88.57% of its industry peers.
  • HOG has a Quick Ratio of 2.36. This indicates that HOG is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Quick ratio value of 2.36, HOG belongs to the best of the industry, outperforming 94.29% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.51
Quick Ratio 2.36
HOG Yearly Current Assets VS Current LiabilitesHOG 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. Growth

3.1 Past

  • HOG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.21%.
  • The Earnings Per Share has been growing slightly by 4.52% on average over the past years.
  • Looking at the last year, HOG shows a very negative growth in Revenue. The Revenue has decreased by -15.99% in the last year.
  • Measured over the past years, HOG shows a decrease in Revenue. The Revenue has been decreasing by -0.66% on average per year.
EPS 1Y (TTM)-7.21%
EPS 3Y-7.45%
EPS 5Y4.52%
EPS Q2Q%240.66%
Revenue 1Y (TTM)-15.99%
Revenue growth 3Y-0.94%
Revenue growth 5Y-0.66%
Sales Q2Q%22.54%

3.2 Future

  • Based on estimates for the next years, HOG will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.92% on average per year.
  • The Revenue is expected to decrease by -1.07% on average over the next years.
EPS Next Y26.89%
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%
EPS Next 5Y11.92%
Revenue Next Year-11.78%
Revenue Next 2Y-5.17%
Revenue Next 3Y-2.25%
Revenue Next 5Y-1.07%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
HOG Yearly Revenue VS EstimatesHOG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1B 2B 3B 4B 5B
HOG Yearly EPS VS EstimatesHOG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8 10

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Find the best growth stocksShow best growing peers

9

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 4.97 indicates a rather cheap valuation of HOG.
  • Based on the Price/Earnings ratio, HOG is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 27.92, HOG is valued rather cheaply.
  • The Price/Forward Earnings ratio is 9.66, which indicates a very decent valuation of HOG.
  • HOG's Price/Forward Earnings ratio is rather cheap when compared to the industry. HOG is cheaper than 85.71% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, HOG is valued rather cheaply.
Industry RankSector Rank
PE 4.97
Fwd PE 9.66
HOG Price Earnings VS Forward Price EarningsHOG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 94.29% of the companies in the same industry are more expensive than HOG, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, HOG is valued cheaper than 97.14% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.18
EV/EBITDA 7.03
HOG Per share dataHOG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • HOG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of HOG may justify a higher PE ratio.
  • HOG's earnings are expected to decrease with -4.79% in the coming years. This may justify a cheaper valuation.
PEG (NY)0.18
PEG (5Y)1.1
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.65%, HOG has a reasonable but not impressive dividend return.
  • HOG's Dividend Yield is rather good when compared to the industry average which is at 0.86. HOG pays more dividend than 91.43% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.83, HOG pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.65%

5.2 History

  • The dividend of HOG decreases each year by -14.37%.
  • HOG has been paying a dividend for at least 10 years, so it has a reliable track record.
  • HOG has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-14.37%
Div Incr Years4
Div Non Decr Years4
HOG Yearly Dividends per shareHOG Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • 17.57% of the earnings are spent on dividend by HOG. This is a low number and sustainable payout ratio.
DP17.57%
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%
HOG Yearly Income VS Free CF VS DividendHOG 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
HOG Dividend Payout.HOG Dividend Payout, showing the Payout Ratio.HOG Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

HARLEY-DAVIDSON INC

NYSE:HOG (2/6/2026, 8:04:00 PM)

After market: 20.5 +0.01 (+0.05%)

20.49

+0.4 (+1.99%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)11-04
Earnings (Next)02-10
Inst Owners94.63%
Inst Owner Change-0.86%
Ins Owners0.23%
Ins Owner Change-0.74%
Market Cap2.42B
Revenue(TTM)4.66B
Net Income(TTM)501.15M
Analysts69.52
Price Target28.06 (36.94%)
Short Float %13.58%
Short Ratio5.64
Dividend
Industry RankSector Rank
Dividend Yield 3.65%
Yearly Dividend0.7
Dividend Growth(5Y)-14.37%
DP17.57%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)45.64%
Min EPS beat(2)-8.96%
Max EPS beat(2)100.25%
EPS beat(4)2
Avg EPS beat(4)21.85%
Min EPS beat(4)-39.22%
Max EPS beat(4)100.25%
EPS beat(8)6
Avg EPS beat(8)62.38%
EPS beat(12)9
Avg EPS beat(12)77.15%
EPS beat(16)12
Avg EPS beat(16)70.13%
Revenue beat(2)1
Avg Revenue beat(2)-0.17%
Min Revenue beat(2)-6.15%
Max Revenue beat(2)5.81%
Revenue beat(4)1
Avg Revenue beat(4)-3.38%
Min Revenue beat(4)-10.44%
Max Revenue beat(4)5.81%
Revenue beat(8)3
Avg Revenue beat(8)-2.68%
Revenue beat(12)5
Avg Revenue beat(12)0.4%
Revenue beat(16)9
Avg Revenue beat(16)6.74%
PT rev (1m)0%
PT rev (3m)-5.54%
EPS NQ rev (1m)-0.09%
EPS NQ rev (3m)-306.35%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.69%
Revenue NQ rev (1m)-0.53%
Revenue NQ rev (3m)-14.3%
Revenue NY rev (1m)-0.05%
Revenue NY rev (3m)-0.27%
Valuation
Industry RankSector Rank
PE 4.97
Fwd PE 9.66
P/S 0.52
P/FCF 6.18
P/OCF 4.4
P/B 0.68
P/tB 0.69
EV/EBITDA 7.03
EPS(TTM)4.12
EY20.11%
EPS(NY)2.12
Fwd EY10.35%
FCF(TTM)3.32
FCFY16.19%
OCF(TTM)4.66
OCFY22.72%
SpS39.48
BVpS30.24
TBVpS29.7
PEG (NY)0.18
PEG (5Y)1.1
Graham Number52.94
Profitability
Industry RankSector Rank
ROA 4.74%
ROE 14.03%
ROCE 7.61%
ROIC 5.78%
ROICexc 7.44%
ROICexgc 7.51%
OM 11.88%
PM (TTM) 10.74%
GM 33.26%
FCFM 8.4%
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-Score8
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 13.17
Debt/EBITDA 5.31
Cap/Depr 94.5%
Cap/Sales 3.39%
Interest Coverage 250
Cash Conversion 76.21%
Profit Quality 78.19%
Current Ratio 2.51
Quick Ratio 2.36
Altman-Z 1.91
F-Score8
WACC7.2%
ROIC/WACC0.8
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)-7.21%
EPS 3Y-7.45%
EPS 5Y4.52%
EPS Q2Q%240.66%
EPS Next Y26.89%
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%
EPS Next 5Y11.92%
Revenue 1Y (TTM)-15.99%
Revenue growth 3Y-0.94%
Revenue growth 5Y-0.66%
Sales Q2Q%22.54%
Revenue Next Year-11.78%
Revenue Next 2Y-5.17%
Revenue Next 3Y-2.25%
Revenue Next 5Y-1.07%
EBIT growth 1Y-5.86%
EBIT growth 3Y-20.42%
EBIT growth 5Y-6.66%
EBIT Next Year56.41%
EBIT Next 3Y-1.24%
EBIT Next 5Y8.91%
FCF growth 1Y-17.49%
FCF growth 3Y0.46%
FCF growth 5Y4.77%
OCF growth 1Y-19.18%
OCF growth 3Y2.92%
OCF growth 5Y4.15%

HARLEY-DAVIDSON INC / HOG FAQ

Can you provide the ChartMill fundamental rating for HARLEY-DAVIDSON INC?

ChartMill assigns a fundamental rating of 6 / 10 to HOG.


What is the valuation status for HOG stock?

ChartMill assigns a valuation rating of 9 / 10 to HARLEY-DAVIDSON INC (HOG). This can be considered as Undervalued.


What is the profitability of HOG stock?

HARLEY-DAVIDSON INC (HOG) has a profitability rating of 8 / 10.


How financially healthy is HARLEY-DAVIDSON INC?

The financial health rating of HARLEY-DAVIDSON INC (HOG) is 7 / 10.


How sustainable is the dividend of HARLEY-DAVIDSON INC (HOG) stock?

The dividend rating of HARLEY-DAVIDSON INC (HOG) is 6 / 10 and the dividend payout ratio is 17.57%.