HARLEY-DAVIDSON INC (HOG) Stock Fundamental Analysis
USA • New York Stock Exchange • NYSE:HOG • US4128221086
19.52 USD
-0.28 (-1.41%)
Last: Feb 2, 2026, 03:11 PM
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 cheap, but on the other hand it scores bad on growth. These ratings could make HOG a good candidate for value investing.
1. Profitability
1.1 Basic Checks
- In the past year HOG was profitable.
- HOG had a positive operating cash flow in the past year.
- Each year in the past 5 years HOG has been profitable.
- HOG had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- With an excellent Return On Assets value of 4.74%, HOG belongs to the best of the industry, outperforming 94.29% of the companies in the same industry.
- HOG has a Return On Equity of 14.03%. This is amongst the best in the industry. HOG outperforms 97.14% of its industry peers.
- HOG's Return On Invested Capital of 5.78% is amongst the best of the industry. HOG outperforms 97.14% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for HOG is in line with the industry average of 5.26%.
| Industry Rank | Sector 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%
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.
- In the last couple of years the Profit Margin of HOG has grown nicely.
- With an excellent Operating Margin value of 11.88%, HOG belongs to the best of the industry, outperforming 97.14% of the companies in the same industry.
- In the last couple of years the Operating Margin of HOG has declined.
- HOG has a better Gross Margin (33.26%) than 91.43% of its industry peers.
- HOG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HOG is destroying value.
- The number of shares outstanding for HOG has been reduced compared to 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.
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.
- HOG has a Altman-Z score of 1.91. This is amongst the best in the industry. HOG outperforms 85.71% of its industry peers.
- The Debt to FCF ratio of HOG is 13.17, which is on the high side as it means it would take HOG, 13.17 years of fcf income to pay off all of its debts.
- HOG has a better Debt to FCF ratio (13.17) 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.
- HOG has a Debt to Equity ratio of 1.07. This is in the lower half of the industry: HOG underperforms 62.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 13.17 | ||
| Altman-Z | 1.91 |
ROIC/WACC0.81
WACC7.14%
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.
- Looking at the Current ratio, with a value of 2.51, HOG belongs to the top of the industry, outperforming 88.57% of the companies in the same industry.
- 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 Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.51 | ||
| Quick Ratio | 2.36 |
3. Growth
3.1 Past
- The earnings per share for HOG have decreased by -7.21% in the last year.
- HOG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 4.52% yearly.
- The Revenue for HOG has decreased by -15.99% in the past year. This is quite bad
- 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.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 4.74 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.
- When comparing the Price/Earnings ratio of HOG to the average of the S&P500 Index (28.32), we can say HOG is valued rather cheaply.
- With a Price/Forward Earnings ratio of 9.20, the valuation of HOG can be described as very reasonable.
- Based on the Price/Forward Earnings ratio, HOG is valued cheaper than 85.71% of the companies in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 25.57, HOG is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.74 | ||
| Fwd PE | 9.2 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HOG indicates a rather cheap valuation: HOG is cheaper than 94.29% of the companies listed in the same industry.
- 97.14% of the companies in the same industry are more expensive than HOG, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.89 | ||
| EV/EBITDA | 6.98 |
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.
- A cheap valuation may be justified as HOG's earnings are expected to decrease with -4.79% in the coming years.
PEG (NY)0.18
PEG (5Y)1.05
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 3.65%, HOG has a reasonable but not impressive dividend return.
- In the last 3 months the price of HOG has falen by -26.61%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
- Compared to an average industry Dividend Yield of 0.86, HOG pays a better dividend. On top of this HOG pays more dividend than 91.43% of the companies listed in the same industry.
- HOG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.65% |
5.2 History
- The dividend of HOG decreases each year by -14.37%.
- HOG has paid a dividend for at least 10 years, which is 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
5.3 Sustainability
- HOG pays out 17.57% of its income as dividend. This is a sustainable payout ratio.
DP17.57%
EPS Next 2Y-20.2%
EPS Next 3Y-4.79%
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%.