ES
MARKETS / NYSE / HOG
NYSE · MOTORCYCLES, BICYCLES & PARTS · LARGE CAP

Harley-Davidson, Inc. HOG

19 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY5 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$3.6B
▼ 13.1% vs FY2024
Dividend streak
5 yrs
Raised every year since 2021
EPS · FY25
$2.78
Dividend / sh · FY25
$0.72
Payout · FY25
26%
ROE · FY25
10.7%
Net margin · FY25
9.4%
Dividend coverage
3.9×
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Result
USD 3.6B
Revenue, FY2025 · full 19-year series below
Revenue Net income
24683.60.32007201020132016201920222025
24683.60.32016201920222025

9 cents of every revenue dollar became profit this year.

Per share
USD 2.78
Diluted EPS, FY2025
EPS Dividend
2460.722.782007201020132016201920222025
2460.722.782016201920222025

Earnings covered the dividend 3.9 times — the rest stayed in the company.

Profitability
10.7%
Return on equity, FY2025
ROE
1020304010.7%2007201020132016201920222025
1020304010.7%2016201920222025
Operating margin10.7%
Net margin9.4%
Return on assets3.4%

Each USD of equity produced 11 cents of profit this year.

Returned to shareholders
USD 439.7M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 86.4M
Net buybacksUSD 353.3M
Share of profit129.8%
Consecutive raises5 years

USD 86.4M in dividends and USD 353.3M in buybacks — 130% of the year's profit, so the payout drew on cash built up earlier.

Growth
+2.0% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−9.9%
+2.0%
−5.0%
−2.0%
Net income
−23.0%
+204.3%
−7.7%
+5.7%
EPS, diluted
−17.6%
+208.2%
−2.8%
+10.5%
Dividend / share
+4.6%
+10.4%
−5.3%
+4.0%
Returned to shareholders
+0.6%
+42.0%
−13.1%
+10.7%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.11B
Shares outstanding, FY2025
0.230.112007201020132016201920222025
0.180.112016201920222025
Change, 5 years−27.0%
Change, 10 years−39.5%

The share count shrank 27% in five years — the same company, cut into fewer, larger slices.

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Balance sheet
USD 8.0B
total assets, end of FY2025
Total assetsUSD 8.0B
EquityUSD 3.1B
CashUSD 3.1B
Gross debtUSD 2.5B
Net debtUSD -622.5M
DepositsUSD 536.6M

The company holds more cash than debt.

History
19 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
Revenue $B
3.6
4.1
4.9
4.9
4.5
3.3
5.4
5.7
5.6
6.0
6.0
6.2
5.9
5.6
5.3
4.9
4.8
6.0
6.1
Operating income $B
0.4
0.4
0.8
0.9
0.8
0.0
0.6
0.7
0.9
1.0
1.2
1.3
1.2
1.0
0.8
0.6
0.2
1.1
1.4
EBITDA $B
0.6
0.6
0.9
1.1
1.0
0.2
0.8
1.0
1.1
1.3
1.4
1.5
1.3
1.2
1.0
0.8
0.4
1.3
·
Income tax $B
0.1
0.1
0.2
0.2
0.2
−0.0
0.1
0.2
0.3
0.3
0.4
0.4
0.4
0.3
0.2
0.1
0.1
0.4
0.5
Net income $B
0.3
0.5
0.7
0.7
0.7
0.0
0.4
0.5
0.5
0.7
0.8
0.8
0.7
0.6
0.6
0.1
−0.1
0.7
0.9
EPS, diluted $
2.78
3.44
4.87
4.96
4.19
0.01
2.68
3.19
3.02
3.83
3.69
3.88
3.28
2.72
2.55
0.62
−0.24
2.79
3.74
Dividend / sh $
0.72
0.69
0.66
0.63
0.60
0.44
1.50
1.48
1.46
1.40
1.24
1.10
0.84
0.62
0.47
0.40
0.40
1.29
1.06
Payout %
26
20
14
13
14
5246
56
46
48
36
33
28
26
23
19
64
−170
46
28
ROE %
10.7
14.2
23.0
27.2
30.4
0.1
23.7
29.4
27.7
36.8
31.7
28.5
26.4
25.1
25.9
6.8
−2.6
29.2
39.3
Shares out B
0.11
0.12
0.14
0.15
0.15
0.15
0.15
0.16
0.17
0.18
0.18
0.21
0.22
0.23
0.23
0.24
0.23
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
54 of 54
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed