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Harley-Davidson HOG Return on invested capital

Return on invested capital at other companies

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-165.3%-28.4pp
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Other financials

Income statement

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Revenue$1.2B-11.8%
Gross profit$378.4M-32.2%
Operating income$23.5M-85.4%
Net income$24.8M-81.4%
EPS (diluted)$0.22-79.4%

Balance sheet

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Cash & equivalents$1.8B-6.5%
Total debt$1.7B-69.1%
Total equity$3.1B-3.7%
Total assets$7.2B-41.5%

Cash flow

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Operating cash flow-$228.0M-261%
CapEx$31.8M+6.1%
Free cash flow-$259.8M-333%

Valuation

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Market cap$2.57B-10.6%
Enterprise value$2.47B-60.3%
P/E+1.0×
P/S0.6×0.0×

Profitability

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Gross margin35.9%-6.5pp
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×-1.2×
Current ratio1.9×+0.4×

Where this comes from

Calculated from Harley-Davidson’s reported figures.

Based on trailing twelve months.

The official record: Harley-Davidson’s 10-Q, filed November 5, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Harley-Davidson's return on invested capital?
Harley-Davidson (HOG) reported return on invested capital of 8.3% in Q3 2024.
How has Harley-Davidson's return on invested capital changed year-over-year?
Harley-Davidson's return on invested capital increased by 11.4% year-over-year, from 7.5% to 8.3%.
What is the long-term trend for Harley-Davidson's return on invested capital?
Over 3 years (2020 to 2023), Harley-Davidson's return on invested capital has grown at a 283.7% compound annual growth rate (CAGR), from 0.2% to 11.1%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.