Harley-Davidson Cash Flow Statement
NYSE: HOGConsumer DiscretionaryMotor VehiclesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Harley-Davidson free cash flow
In fiscal 2025, Harley-Davidson generated $568.9 million of operating cash flow and spent $153.7 million on capital expenditures. That left free cash flow of $415.2 million, a free-cash-flow margin of 9.3% of revenue. Free cash flow was down 52.1% from the prior year's $867.3 million.
Harley-Davidson returned $439.7 million to shareholders: $86.4 million in dividends and $353.3 million in share repurchases, equal to 106% of free cash flow. Free cash flow covered dividend payments 4.8 times.
Summary generated from market data by MetaCap's automated system. Methodology
Harley-Davidson cash flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 329.15M | 445.18M | 695.05M | 739.21M | 650.02M | 1.30M | 423.63M | 531.45M | 521.76M | 692.16M |
| Net Income growth (YoY) | -26.06% | -35.95% | -5.97% | +13.72% | +49978.89% | -99.69% | -20.29% | +1.86% | -24.62% | -7.98% |
| Depreciation & Amortization | 172.37M | 160.67M | 158.11M | 151.94M | 165.19M | 185.72M | 232.54M | 264.86M | 222.19M | 209.56M |
| Stock-Based Compensation | 31.75M | 49.01M | 82.90M | 54.35M | 42.16M | 23.49M | 33.73M | 35.54M | 32.49M | 32.34M |
| Change in Working Capital | 244.88M | 128.95M | 38.38M | -332.05M | -87.47M | 165.43M | -21.14M | 174.28M | -28.61M | 77.38M |
| Operating Cash Flow | 568.92M | 1.06B | 754.89M | 548.46M | 975.70M | 1.18B | 868.27M | 1.21B | 1.01B | 1.17B |
| Capital Expenditures | -153.68M | -196.56M | -207.40M | -151.67M | -120.18M | -131.05M | -181.44M | -213.52M | -206.29M | -256.26M |
| Investing Cash Flow | 3.78B | -383.33M | -512.30M | -773.01M | -459.45M | -66.78M | -508.13M | -662.27M | -562.47M | -392.73M |
| Dividends Paid | -86.39M | -91.22M | -96.31M | -93.18M | -92.43M | -68.09M | -237.22M | -245.81M | -251.86M | -252.32M |
| Share Repurchases | -353.27M | -459.83M | -363.99M | -338.63M | -11.62M | -8.01M | -296.52M | -390.61M | -465.26M | -465.34M |
| Debt Issued | — | — | — | — | — | — | — | — | 0 | 0 |
| Debt Repaid | -450.00M | 0 | 0 | — | — | — | — | — | — | 0 |
| Financing Cash Flow | -3.01B | -572.32M | -174.65M | -201.97M | -1.88B | 1.37B | -712.22M | -14.76M | -550.26M | -777.88M |
| Net Change in Cash | 1.35B | 92.04M | 69.63M | -446.04M | -1.38B | 2.50B | -354.38M | 513.54M | -80.92M | -5.72M |
| Free Cash Flow | 415.24M | 867.27M | 547.48M | 396.79M | 855.52M | 1.05B | 686.83M | 992.40M | 798.77M | 918.08M |
This table shows 10 annual periods of Harley-Davidson's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow HOG's reporting calendar. What is a cash flow statement?