Harley-Davidson Financial Statements
NYSE: HOGConsumer DiscretionaryMotor VehiclesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
After hours: 26.90 +0.04%
Harley-Davidson revenue and earnings
In fiscal 2025, Harley-Davidson generated $4.47 billion in revenue, down 13.8% from fiscal 2024, its first annual decline since 2024. Net income was $338.7 million (-25.6% year over year), for a net margin of 7.6% versus a median of 12.1% in the prior 5 years. Gross margin was 38.7% (down from 42.0%) and operating margin 8.6%.
Diluted earnings per share came in at $2.78, down from $3.44. Over the last 5 fiscal years, HOG's revenue has grown at a 2.0% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Harley-Davidson income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4.47B | 5.19B | 5.84B | 5.76B | 5.34B | 4.05B | 5.36B | 5.72B | 5.65B | 6.00B |
| Revenue growth (YoY) | -13.76% | -11.13% | +1.41% | +7.85% | +31.62% | -24.38% | -6.21% | +1.23% | -5.82% | +0.02% |
| Cost of Revenue | 2.74B | 3.01B | 3.32B | 3.40B | 3.24B | 2.44B | 3.23B | 3.35B | 3.27B | 3.43B |
| Gross Profit | 1.73B | 2.18B | 2.51B | 2.35B | 2.09B | 1.62B | 2.13B | 2.37B | 2.37B | 2.57B |
| Operating Expenses | 1.34B | 1.76B | 1.74B | 1.44B | 1.27B | 1.61B | 1.58B | 1.65B | 1.49B | 1.52B |
| Research & Development | — | — | 159.30M | 158.60M | 175.10M | 202.40M | 216.50M | 191.60M | 175.20M | 172.30M |
| Selling, General & Admin | 1.15B | 1.15B | 1.18B | 1.08B | 1.05B | 1.05B | 1.20B | 1.26B | 1.18B | 1.21B |
| Operating Income | 386.63M | 416.63M | 779.08M | 909.28M | 823.44M | 9.68M | 555.61M | 713.52M | 882.08M | 1.05B |
| Interest Expense | 33.44M | 30.75M | 30.79M | 31.23M | 30.97M | 31.12M | 31.08M | 30.88M | 31.00M | 29.67M |
| Other Income (Expense) | 61.27M | 72.30M | 71.81M | 48.65M | 20.08M | -1.85M | 16.51M | 3.04M | 9.18M | 2.64M |
| Pretax Income | 458.73M | 517.14M | 866.88M | 931.23M | 819.24M | -15.73M | 557.41M | 686.63M | 863.84M | 1.02B |
| Income Tax | 129.58M | 71.96M | 171.83M | 192.02M | 169.21M | -17.03M | 133.78M | 155.18M | 342.08M | 331.75M |
| Net Income | 338.74M | 455.36M | 706.59M | 741.41M | 650.02M | 1.30M | 423.63M | 531.45M | 521.76M | 692.16M |
| Net Income growth (YoY) | -25.61% | -35.56% | -4.70% | +14.06% | +49978.89% | -99.69% | -20.29% | +1.86% | -24.62% | -7.98% |
| EPS (Basic) | 2.82 | 3.46 | 4.96 | 5.01 | 4.23 | 0.01 | 2.70 | 3.21 | 3.03 | 3.85 |
| EPS (Diluted) | 2.78 | 3.44 | 4.87 | 4.96 | 4.19 | 0.01 | 2.68 | 3.19 | 3.02 | 3.83 |
| Shares Outstanding (Basic) | 120.07M | 131.45M | 142.38M | 148.01M | 153.75M | 153.19M | 157.05M | 165.67M | 172.00M | 179.68M |
| Shares Outstanding (Diluted) | 121.26M | 132.29M | 145.10M | 149.35M | 154.98M | 153.91M | 157.80M | 166.50M | 172.93M | 180.53M |
| EBITDA | 559.01M | 577.30M | 937.20M | 1.06B | 988.62M | 195.39M | 788.14M | 978.39M | 1.10B | 1.26B |
| Gross Margin | 38.71% | 42.05% | 43.08% | 40.86% | 39.22% | 39.92% | 39.76% | 41.37% | 42.05% | 42.87% |
| Operating Margin | 8.64% | 8.03% | 13.35% | 15.80% | 15.43% | 24.00% | 10.36% | 12.48% | 15.62% | 17.45% |
| Net Margin | 7.57% | 8.78% | 12.11% | 12.88% | 12.18% | 3.00% | 7.90% | 9.30% | 9.24% | 11.54% |
This table shows 10 annual periods of Harley-Davidson's income statement, from FY 2025 back to FY 2016, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow HOG's reporting calendar. What is a income statement?