The company's capital structure exhibits significant volatility, with the debt-to-equity ratio fluctuating from a peak of 2.32 in 2025Q1 to 0.71 in 2026Q1 as total assets contracted to $7.2 billion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Current Assets | 4.74B | 5.59B | 5B | 5.16B | 4.75B | 4.55B | 5.85B | 4.2B | 4.48B | 3.88B | 3.85B | 3.98B | 3.95B | 3.99B | 4.05B | 4.54B | 4.07B | 4.34B | 5.53B | 3.47B | 3.55B | 3.15B | 3.68B | 2.73B | 2.07B | 1.67B | 1.3B | 949M | 845M | 704M | 613.1M |
| Cash & Short-Term Investments | 1.81B | 3.09B | 1.59B | 1.53B | 1.43B | 1.87B | 3.26B | 833.87M | 1.21B | 687.52M | 765.5M | 767.4M | 964M | 1.17B | 1.2B | 1.68B | 1.16B | 1.67B | 568.89M | 405.33M | 896.53M | 1.05B | 1.61B | 1.32B | 795.73M | 635.45M | 419.74M | 183.4M | 165.2M | 147.5M | 142.5M |
| Cash Only | 1.81B | 3.09B | 1.59B | 1.53B | 1.43B | 1.87B | 3.26B | 833.87M | 1.2B | 687.52M | 759.98M | 722.21M | 906.68M | 1.07B | 1.07B | 1.53B | 1.02B | 1.63B | 568.89M | 402.85M | 238.4M | 140.97M | 275.16M | 812.45M | 280.93M | 439.44M | 419.74M | 183.4M | 165.2M | 147.5M | 142.5M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.01M | 0 | 5.52M | 45.19M | 57.33M | 99.01M | 135.63M | 153.38M | 140.12M | 39.69M | 0 | 2.48M | 658.13M | 905.2M | 1.34B | 510.21M | 514.8M | 196.01M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.9B | 225.76M | 2.27B | 2.38B | 2.03B | 1.65B | 1.65B | 2.53B | 2.52B | 2.44B | 2.36B | 2.3B | 2.16B | 2.03B | 1.97B | 1.98B | 1.34B | 1.71B | 4.09B | 2.54B | 2.24B | 1.76B | 1.75B | 1.11B | 964.47M | 775.26M | 629.17M | 542.7M | 473.8M | 396.1M | 325.1M |
| Days Sales Outstanding | 215.35 | 18.42 | 159.45 | 148.9 | 129.05 | 112.7 | 148.78 | 172.35 | 160.95 | 157.42 | 143.73 | 140.08 | 126.83 | 125.88 | 129.05 | 136.02 | 100.86 | 130.18 | 250.53 | 161.75 | 141.23 | 120.51 | 127.03 | 87.96 | 86.05 | 83.06 | 78.02 | 80.76 | 83.79 | 82.02 | 77.5 |
| Inventory | 622.19M | 730.9M | 745.79M | 929.95M | 950.96M | 712.94M | 523.5M | 603.57M | 556.13M | 538.2M | 499.92M | 585.91M | 448.87M | 424.51M | 393.52M | 418.01M | 326.45M | 323.03M | 379.14M | 349.7M | 287.8M | 221.42M | 226.89M | 207.73M | 218.16M | 181.12M | 191.93M | 168.6M | 155.6M | 117.5M | 101.4M |
| Days Inventory Outstanding | 94.24 | 85.49 | 80.59 | 92.88 | 95.85 | 75.73 | 71.24 | 64.04 | 57.26 | 56.9 | 50.69 | 60.78 | 44.2 | 43.51 | 42.02 | 45.74 | 39.43 | 37.02 | 36.57 | 35.33 | 29.44 | 24.48 | 26.58 | 25.63 | 29.79 | 29.33 | 35.39 | 40.93 | 44.17 | 38.77 | 37.54 |
| Other Current Assets | 415.3M | 1.54B | 395.43M | 319.04M | 331.66M | 314.71M | 412.11M | 233.53M | 193.64M | 223.37M | 227.06M | 323.59M | 370.96M | 363.92M | 480.52M | 464.36M | 1.24B | 360.9M | 362.04M | 103.28M | 73.39M | 61.28M | 60.52M | 51.16M | 41.43M | 38.99M | 56.43M | 54.3M | 50.4M | 42.9M | 44.1M |
| Total Non-Current Assets | 2.5B | 2.46B | 6.88B | 6.98B | 6.74B | 6.5B | 6.17B | 6.33B | 6.18B | 6.09B | 6.04B | 6B | 5.58B | 5.42B | 5.12B | 5.13B | 5.36B | 4.81B | 2.3B | 2.19B | 1.98B | 2.11B | 1.8B | 2.19B | 1.79B | 1.45B | 1.14B | 1.16B | 1.08B | 894.9M | 706.9M |
| Property, Plant & Equipment | 801.73M | 0 | 820.92M | 801.37M | 733.82M | 733.61M | 788.99M | 909M | 904.13M | 967.78M | 981.59M | 942.42M | 883.08M | 842.48M | 815.46M | 809.46M | 815.11M | 906.91M | 1.06B | 1.06B | 1.02B | 1.01B | 1.02B | 1.05B | 1.03B | 891.82M | 754.12M | 681.7M | 627.8M | 528.9M | 409.4M |
| Fixed Asset Turnover | 7.26x | - | 6.32x | 7.28x | 7.84x | 7.27x | 5.14x | 5.90x | 6.32x | 5.84x | 6.11x | 6.36x | 7.05x | 7.00x | 6.84x | 6.56x | 5.96x | 5.27x | 5.63x | 5.40x | 5.66x | 5.28x | 4.89x | 4.42x | 3.96x | 3.82x | 3.90x | 3.60x | 3.29x | 3.33x | 3.74x |
| Goodwill | 63.44M | 63.91M | 61.66M | 62.7M | 62.09M | 63.18M | 65.98M | 64.16M | 55.05M | 55.95M | 53.39M | 54.18M | 27.75M | 30.45M | 29.53M | 29.08M | 29.59M | 31.4M | 60.13M | 61.4M | 58.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 5.57M | 7.03M | 6.39M | 7.51M | 9.63M | 10.6M | 6M | 6.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 56.56M | 59.46M | 53.68M | 49.93M | 49.71M | 54.33M | 55.4M | 51.2M | 38.7M | 40.9M |
| Long-Term Investments | 2.36B | 719.06M | 5.3B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 674.13M | 1.67B | 516.51M | 5.94B | 5.8B | 5.61B | 5.14B | 5.24B | 5.07B | 4.95B | 4.83B | 4.9B | 4.59B | 4.54B | 4.1B | 4.09B | 4.31B | 3.7B | 896.77M | 1.01B | 855.26M | 1.04B | 715.99M | 1.09B | 712.11M | 511.7M | 330.69M | 426M | 396.2M | 327.3M | 256.6M |
| Total Assets | 7.25B | 8.04B | 11.88B | 12.14B | 11.49B | 11.05B | 12.01B | 10.53B | 10.67B | 9.97B | 9.89B | 9.97B | 9.53B | 9.41B | 9.17B | 9.67B | 9.43B | 9.16B | 7.83B | 5.66B | 5.53B | 5.26B | 5.48B | 4.92B | 3.86B | 3.12B | 2.44B | 2.11B | 1.92B | 1.6B | 1.32B |
| Asset Turnover | 0.46x | 0.56x | 0.44x | 0.48x | 0.50x | 0.48x | 0.34x | 0.51x | 0.54x | 0.57x | 0.61x | 0.60x | 0.65x | 0.63x | 0.61x | 0.55x | 0.52x | 0.52x | 0.76x | 1.01x | 1.05x | 1.02x | 0.91x | 0.94x | 1.06x | 1.09x | 1.21x | 1.16x | 1.07x | 1.10x | 1.16x |
| Asset Growth % | -98.22% | -32.29% | -2.13% | 5.64% | 3.99% | -7.99% | 14.08% | -1.29% | 6.95% | 0.83% | -0.83% | 4.67% | 1.31% | 2.55% | -5.2% | 2.58% | 3.01% | 16.95% | 38.4% | 2.25% | 5.27% | -4.16% | 11.38% | 27.5% | 23.82% | 28% | 15.35% | 9.99% | 20.1% | 21.13% | 31.91% |
| Total Current Liabilities | 2.48B | 2.66B | 3.56B | 3.38B | 3.53B | 3.34B | 3.98B | 3.2B | 3.6B | 3.16B | 2.86B | 2.75B | 2.39B | 2.51B | 1.5B | 2.7B | 2.01B | 2.27B | 2.62B | 1.91B | 1.6B | 873.11M | 1.17B | 955.77M | 990.05M | 716.11M | 497.74M | 518.2M | 468.5M | 361.7M | 263.6M |
| Accounts Payable | 459.36M | 1.06B | 298.72M | 349.16M | 378M | 374.98M | 290.9M | 294.38M | 284.86M | 227.6M | 235.32M | 235.61M | 196.87M | 239.79M | 257.39M | 255.71M | 225.35M | 162.51M | 303.28M | 300.19M | 283.48M | 270.61M | 244.2M | 223.9M | 226.98M | 194.68M | 169.84M | 137.7M | 122.7M | 106.1M | 100.7M |
| Days Payables Outstanding | 84.24 | 124.12 | 32.28 | 34.87 | 38.1 | 39.83 | 39.59 | 31.23 | 29.33 | 24.06 | 23.86 | 24.44 | 19.38 | 24.58 | 27.48 | 27.98 | 27.22 | 18.63 | 29.25 | 30.33 | 29 | 29.92 | 28.61 | 27.62 | 30.99 | 31.53 | 31.32 | 33.43 | 34.83 | 35.01 | 37.28 |
| Short-Term Debt | 996.93M | 1.33B | 2.49B | 2.13B | 2.46B | 2.29B | 3.05B | 2.32B | 2.71B | 2.4B | 2.14B | 2.04B | 1.74B | 1.84B | 732.11M | 1.88B | 1.23B | 1.52B | 1.74B | 1.12B | 832.49M | 204.97M | 495.44M | 324.31M | 382.58M | 217.05M | 89.51M | 181.2M | 146.7M | 90.6M | 2.6M |
| Deferred Revenue (Current) | 0 | 0 | 23.08M | 23.36M | 17.61M | 18.29M | 18.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.02B | 262.84M | 173.41M | 266.12M | 105.73M | 77.5M | 129.41M | 14.8M | 33.81M | 21.31M | 142K | 0 | 0 | 6.11M | 35.14M | 48.45M | 55.32M | 69.53M | 77.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 238.39M | 199.3M | 199.1M | 165M | 160.3M |
| Current Ratio | 1.91x | 2.10x | 1.40x | 1.53x | 1.34x | 1.36x | 1.47x | 1.31x | 1.25x | 1.23x | 1.35x | 1.45x | 1.65x | 1.59x | 2.70x | 1.68x | 2.02x | 1.91x | 2.11x | 1.82x | 2.23x | 3.60x | 3.14x | 2.86x | 2.09x | 2.33x | 2.61x | 1.83x | 1.80x | 1.95x | 2.33x |
| Quick Ratio | 1.66x | 1.83x | 1.19x | 1.25x | 1.08x | 1.15x | 1.34x | 1.13x | 1.09x | 1.06x | 1.17x | 1.23x | 1.46x | 1.42x | 2.43x | 1.53x | 1.86x | 1.77x | 1.96x | 1.64x | 2.04x | 3.35x | 2.95x | 2.64x | 1.87x | 2.07x | 2.22x | 1.51x | 1.47x | 1.62x | 1.94x |
| Cash Conversion Cycle | 225.35 | -20.21 | 207.76 | 206.9 | 186.8 | 148.6 | 180.43 | 205.16 | 188.88 | 190.26 | 170.56 | 176.42 | 151.64 | 144.81 | 143.59 | 153.78 | 113.08 | 148.58 | 257.85 | 166.75 | 141.67 | 115.07 | 125 | 85.97 | 84.85 | 80.86 | 82.09 | 88.26 | 93.13 | 85.79 | 77.75 |
| Total Non-Current Liabilities | 1.69B | 2.23B | 5.17B | 5.5B | 5.05B | 5.15B | 6.31B | 5.53B | 5.29B | 4.97B | 5.11B | 5.39B | 4.23B | 3.89B | 5.11B | 4.56B | 5.21B | 4.78B | 3.09B | 1.38B | 1.18B | 1.3B | 1.09B | 1.01B | 638.25M | 646.1M | 533.01M | 432.8M | 421.8M | 410.5M | 393.7M |
| Long-Term Debt | 1.13B | 1.65B | 4.47B | 4.99B | 4.46B | 4.6B | 5.93B | 5.12B | 4.89B | 4.59B | 4.67B | 4.83B | 3.76B | 3.42B | 4.37B | 3.84B | 4.52B | 4.11B | 2.18B | 980M | 870M | 1B | 800M | 670M | 380M | 380M | 355M | 280M | 280M | 280M | 258.1M |
| Capital Lease Obligations | 246.64M | 69.42M | 47.42M | 51.85M | 26.78M | 29.9M | 30.11M | 44.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 45.71M | 5.51M | 16.89M | 33.51M | 29.53M | 9.26M | 8.61M | 8.13M | 0 | 0 | 0 | 0 | 0 | 49.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 155.24M | 51.43M | 125.84M | 29.48M | 17.82M | 15.63M | 12M | 2.3M | 0 | 0 |
| Other Non-Current Liabilities | 478.59M | 504.73M | 632.61M | 428.05M | 538.4M | 520.14M | 334.21M | 349.98M | 406.45M | 382.97M | 440.55M | 553.55M | 468M | 419.76M | 739.52M | 711.4M | 689.5M | 665.14M | 913.45M | 396.04M | 309.74M | 143.26M | 240.69M | 213.78M | 228.77M | 248.29M | 162.37M | 140.8M | 139.5M | 130.5M | 135.6M |
| Total Liabilities | 4.17B | 4.89B | 8.72B | 8.89B | 8.59B | 8.5B | 10.29B | 8.72B | 8.89B | 8.13B | 7.97B | 8.13B | 6.62B | 6.4B | 6.61B | 7.25B | 7.22B | 7.05B | 5.71B | 3.28B | 2.78B | 2.17B | 2.26B | 1.97B | 1.63B | 1.36B | 1.03B | 951M | 890.3M | 772.2M | 657.3M |
| Total Debt | 2.2B | 3.05B | 7.03B | 7.2B | 6.96B | 6.94B | 9.03B | 7.51B | 7.6B | 6.99B | 6.81B | 6.87B | 5.5B | 5.26B | 5.1B | 5.72B | 5.75B | 5.64B | 3.91B | 2.1B | 1.7B | 1.2B | 1.3B | 994.3M | 762.58M | 597.05M | 444.51M | 461.2M | 426.7M | 370.6M | 260.7M |
| Net Debt | 395.15M | -38.05M | 5.44B | 5.66B | 5.52B | 5.06B | 5.78B | 6.67B | 6.4B | 6.3B | 6.05B | 6.15B | 4.6B | 4.19B | 4.03B | 4.2B | 4.73B | 4.01B | 3.35B | 1.7B | 1.46B | 1.06B | 1.02B | 181.86M | 481.65M | 157.61M | 24.77M | 277.8M | 261.5M | 223.1M | 118.2M |
| Debt / Equity | 0.71x | 0.97x | 2.22x | 2.21x | 2.39x | 2.72x | 5.24x | 4.16x | 4.28x | 3.79x | 3.55x | 3.74x | 1.89x | 1.75x | 2.00x | 2.36x | 2.61x | 2.67x | 1.85x | 0.88x | 0.62x | 0.39x | 0.40x | 0.34x | 0.34x | 0.34x | 0.32x | 0.40x | 0.41x | 0.45x | 0.39x |
| Debt / EBITDA | 6.01x | 6.20x | 12.17x | 7.68x | 6.55x | 7.02x | 46.23x | 9.53x | 7.77x | 6.33x | 5.42x | 5.08x | 3.77x | 3.98x | 4.36x | 5.66x | 7.05x | 12.74x | 3.06x | 1.29x | 0.94x | 0.72x | 0.82x | 2.73x | 0.72x | 0.73x | 0.69x | 0.92x | 1.06x | 1.13x | 0.94x |
| Net Debt / EBITDA | 1.08x | -0.08x | 9.42x | 6.04x | 5.20x | 5.12x | 29.56x | 8.47x | 6.54x | 5.71x | 4.82x | 4.54x | 3.15x | 3.17x | 3.45x | 4.15x | 5.80x | 9.05x | 2.61x | 1.04x | 0.81x | 0.63x | 0.65x | 0.50x | 0.46x | 0.19x | 0.04x | 0.55x | 0.65x | 0.68x | 0.43x |
| Interest Coverage | 13.87x | 14.72x | 17.82x | 29.16x | 30.81x | 27.45x | 0.49x | 18.94x | 23.23x | 28.86x | 35.51x | 95.92x | 309.34x | 25.62x | 21.89x | 18.51x | 5.32x | 9.24x | 235.68x | 8.10x | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 3.08B | 3.16B | 3.16B | 3.25B | 2.91B | 2.55B | 1.72B | 1.8B | 1.77B | 1.84B | 1.92B | 1.84B | 2.91B | 3.01B | 2.56B | 2.42B | 2.21B | 2.11B | 2.12B | 2.38B | 2.76B | 3.08B | 3.22B | 2.96B | 2.23B | 1.76B | 1.41B | 1.16B | 1.03B | 826.7M | 662.7M |
| Equity Growth % | -2.67% | -0.05% | -2.88% | 11.89% | 13.85% | 48.2% | -4.5% | 1.69% | -3.81% | -3.95% | 4.38% | -36.77% | -3.33% | 17.67% | 5.68% | 9.67% | 4.68% | -0.35% | -10.94% | -13.83% | -10.6% | -4.19% | 8.82% | 32.46% | 27.14% | 24.94% | 21.06% | 12.74% | 24.58% | 24.75% | 33.99% |
| Book Value per Share | 27.81 | 26.03 | 23.88 | 22.41 | 19.46 | 16.47 | 11.19 | 11.43 | 10.65 | 10.66 | 10.64 | 9.03 | 13.36 | 13.43 | 11.16 | 10.30 | 9.40 | 9.03 | 9.02 | 9.51 | 10.39 | 10.97 | 10.84 | 9.72 | 7.31 | 5.74 | 4.57 | 3.74 | 3.33 | 2.71 | 2.18 |
| Total Shareholders' Equity | 3.06B | 3.14B | 3.17B | 3.25B | 2.9B | 2.55B | 1.72B | 1.8B | 1.77B | 1.84B | 1.92B | 1.84B | 2.91B | 3.01B | 2.56B | 2.42B | 2.21B | 2.11B | 2.12B | 2.38B | 2.76B | 3.08B | 3.22B | 2.96B | 2.23B | 1.76B | 1.41B | 1.16B | 1.03B | 826.7M | 662.7M |
| Common Stock | 1.74M | 1.73M | 1.72M | 1.71M | 1.7M | 1.69M | 1.69M | 1.83M | 1.82M | 1.81M | 1.81M | 3.45M | 3.44M | 3.43M | 3.41M | 3.39M | 3.38M | 3.37M | 3.36M | 3.35M | 3.34M | 3.31M | 3.3M | 3.27M | 3.25M | 3.24M | 3.21M | 1.6M | 0 | 0 | 0 |
| Retained Earnings | 3.72B | 3.72B | 3.47B | 3.1B | 2.49B | 1.84B | 1.28B | 2.19B | 2.01B | 1.61B | 1.34B | 8.96B | 8.46B | 7.85B | 7.31B | 6.82B | 6.34B | 6.32B | 6.46B | 6.12B | 5.46B | 4.63B | 3.84B | 3.07B | 2.37B | 1.83B | 1.43B | 1.11B | 873.2M | 683.8M | 530.8M |
| Treasury Stock | -2.25B | -2.11B | -1.76B | -1.3B | -935.06M | -596.96M | -588.01M | -1.35B | -1.07B | -687.87M | -235.8M | -7.84B | -6.3B | -5.69B | -5.21B | -4.9B | -4.67B | -4.67B | -4.67B | -4.42B | -3.27B | -2.2B | -1.15B | -586.24M | -482.36M | -425.55M | -313.99M | -188M | 0 | 0 | 0 |
| Accumulated OCI | -272.1M | -257.14M | -332.71M | -304.96M | -341.93M | -240.92M | -483.42M | -536.95M | -629.68M | -500.05M | -565.38M | -615.21M | -514.94M | -332.68M | -607.68M | -476.73M | -366.22M | -417.9M | -522.53M | -137.26M | -206.66M | 58.65M | -12.1M | 47.17M | -46.36M | -13.91M | 32K | -2.4M | 0 | 0 | 0 |
| Minority Interest | 15.95M | 16.18M | -7.55M | -513K | 3.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Leverage and inventory misalignment
As reported in recent financial filings, Harley-Davidson's total assets have declined from $13.0 billion in 2024Q3 to $7.2 billion in 2026Q1, reflecting a significant reduction in the company's overall balance sheet footprint as it navigates a period of sustained operational contraction and market demand volatility.
The rapid reduction in total assets suggests a deliberate effort to shrink the balance sheet in response to declining wholesale shipments and retail demand. Investors should monitor whether this contraction represents a strategic rightsizing of the business or an involuntary liquidation of assets to preserve liquidity during a cyclical downturn.
Based on the company's reported figures, the debt-to-equity ratio has fluctuated significantly, peaking at 2.32 in 2025Q1 before dropping to 0.71 in 2026Q1, which indicates substantial volatility in the company's capital structure and potential shifts in how it finances its captive lending operations.
The sharp decline in debt levels appears to coincide with the broader asset reduction, yet the historical reliance on high leverage to support the HDFS finance arm remains a critical vulnerability. The inconsistency in reported debt metrics warrants further investigation into whether off-balance-sheet financing or changes in credit facility utilization are masking the true extent of the company's leverage.
According to recent balance sheet data, the current ratio has tightened to 1.91 in 2026Q1 from a peak of 2.51 in 2025Q3, suggesting that the company's ability to cover short-term obligations is becoming increasingly constrained as cash reserves are utilized to offset operational cash burn.
While a current ratio of 1.91 remains technically adequate, the rapid depletion of cash from $3.1 billion in 2025Q4 to $1.8 billion in 2026Q1 is concerning given the company's negative free cash flow profile. This trend suggests that the liquidity buffer is being eroded faster than management can adjust its cost structure, potentially limiting future financial flexibility.
As indicated by the company's financial statements, the sudden disappearance of net PPE from the balance sheet in 2025Q4, followed by its reappearance, suggests potential accounting distortions or reclassifications that make headline asset quality metrics difficult to interpret for institutional investors.
The volatility in reported PPE and the reliance on HDFS-related assets create a complex picture that may obscure the true health of the manufacturing segment. Investors should be wary of relying on headline equity figures, as they may not fully account for the potential impairment risks inherent in a declining motorcycle market.
Quick answers to the most common questions about buying HOG stock.
As of 2025, Harley-Davidson, Inc. (HOG) had total assets of $8.04B including $5.59B in current assets.
Harley-Davidson, Inc. (HOG) carries total debt of $3.05B, offset by $3.09B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Harley-Davidson, Inc. (HOG) has total shareholders' equity (book value) of $3.14B ($26.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Harley-Davidson, Inc. (HOG) reported a current ratio of 2.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.