What is Harley-Davidson's HDFS — goodwill?

Harley-Davidson (HOG) reported HDFS — goodwill of $0 in Q4 2025.

What does HDFS — goodwill mean?

Represents the premium paid over the fair value of identifiable net assets acquired in business combinations specifically allocated to the financial services segment. This asset reflects the value of synergies, brand reputation, and customer relationships inherent in the financial services business unit. It is subject to periodic impairment testing to ensure the carrying value does not exceed its recoverable amount.

Harley-Davidson (HOG) HDFS — Goodwill

Screener

Other segment segments

HDMC

$55.59M+4.2%

LiveWire

$8.33M0.0%

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Other financials

Income statement

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Revenue$1.2B-5.9%

Gross profit$421.1M-24.3%

Operating income$76.0M-32.4%

Net income$79.8M-25.8%

EPS (diluted)$0.75-14.8%

Balance sheet

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Cash & equivalents$1.9B+19.4%

Total debt$1.8B-63.3%

Total equity$3.1B-6.6%

Total assets$7.2B-39.9%

Cash flow

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Operating cash flow-$228.0M-261%

CapEx$12.9M-63.7%

Free cash flow-$259.8M-333%

Valuation

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Market cap$2.67B-9.1%

Enterprise value$2.59B-58.8%

P/E4.5×+1.1×

P/S0.6×0.0×

Profitability

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Gross margin33.4%-8.9pp

Operating margin11%-2.6pp

Net margin10.8%-1.4pp

FCF margin18.4%+6.0pp

Returns & leverage

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Return on equity17.7%-5.8pp

Debt / equity0.6×-0.9×

Current ratio1.9×+0.5×

Where this comes from

Reported directly by Harley-Davidson in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Harley-Davidson’s 10-K, filed February 26, 2026.

Filed: Feb 26, 2026, 11:57 AM EST
Fiscal year: FY2025
Accession: 0000793952-26-000011

The HDFS segment had no goodwill at December 31, 2025 or December 31, 2024.

Item 8. Financial Statements and Supplementary Data

FAQ

What is Harley-Davidson's HDFS — goodwill?: Harley-Davidson (HOG) reported HDFS — goodwill of $0 in Q4 2025.
What does HDFS — goodwill mean?: Represents the premium paid over the fair value of identifiable net assets acquired in business combinations specifically allocated to the financial services segment. This asset reflects the value of synergies, brand reputation, and customer relationships inherent in the financial services business unit. It is subject to periodic impairment testing to ensure the carrying value does not exceed its recoverable amount.