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Harley-Davidson HOG Operating margin

Operating margin at other companies

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PolarisPII
-2.6%-3.8pp
Ford Motor Company logo
Ford Motor CompanyF
-3.7%-5.3pp
LiveWire Group logo
LiveWire GroupLVWR
-230.9%-65.2pp
Legacy Housing Corporation logo
Legacy Housing CorporationLEGH
32.8%+0.6pp
Motorcar Parts of America logo
Motorcar Parts of AmericaMPAA
8.3%+3.1pp
OPENLANE logo
OPENLANEOPLN
10.9%+0.1pp

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
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

Calculated from Harley-Davidson’s reported figures.

Based on trailing twelve months.

The source filing: Harley-Davidson’s 10-Q, filed November 5, 2025. Open the filing →

Filed
Nov 5, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0000793952-25-000188

FAQ

What is Harley-Davidson's operating margin?
Harley-Davidson (HOG) reported operating margin of 11% in Q3 2024.
How has Harley-Davidson's operating margin changed year-over-year?
Harley-Davidson's operating margin decreased by 19.0% year-over-year, from 13.6% to 11%.
What is the long-term trend for Harley-Davidson's operating margin?
Over 2 years (2021 to 2023), Harley-Davidson's operating margin has grown at a -6.2% compound annual growth rate (CAGR), from 15.6% to 13.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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