HOG FINANCIAL STATEMENTS

Harley-Davidson Inc — balance sheet, income statement and cash flow trends

HOGHarley-Davidson Inc

🇺🇸 USA · NYSE · Consumer Cyclical · Recreational Vehicles

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue4.3 B $-9.8%

Gross Profit1.1 B $-35.4%

Operating Income275.9 M $-12.1%

EBITDA526.8 M $-11.7%

Net Income230.4 M $-34.8%

Peer Comparison· Recreational Vehicles

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
HOG	-9.8%	24.9%	12.2%	5.3%
DOO	17.1%	22.9%	11.2%	3.0%
Industry median	6.3%	22.8%	7.2%	2.8%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
HOG	-9.8%	24.9%	12.2%	5.3%
LCII	13.3%	24.7%	8.5%	5.7%
PATK	4.2%	23.1%	10.7%	3.5%
PII	4.3%	19.6%	-1.6%	-6.1%
THO	2.4%	12.3%	6.5%	2.7%
BC	8.3%	24.2%	4.8%	-2.5%
Industry median	6.3%	22.8%	7.2%	2.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity3.1 B $42%
Current Liabilities2.5 B $34%
Long-term Liabilities1.7 B $23%

Key Figures

YoY change

Total Assets7.2 B $-41.5%

Total Liabilities4.2 B $-54.8%

Total Equity3.1 B $-3.7%

Cash & ST Investments1.8 B $-6.5%

Total Debt2.2 B $-5.9%

Net Debt395.2 M $-92.6%

Peer Comparison· Recreational Vehicles

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
HOG	1.91	71.8%	0.75	42.3%
DOO	1.30	419.5%	2.16	10.3%
Industry median	1.77	103.5%	2.49	42.7%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
HOG	1.91	71.8%	0.75	42.3%
LCII	2.91	—	—	43.1%
PATK	2.71	135.1%	3.72	36.9%
PII	1.21	293.9%	-16.73	14.3%
THO	1.71	22.9%	0.97	60.3%
BC	1.38	152.5%	8.06	29.1%
Industry median	1.77	103.5%	2.49	42.7%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow199.4 M $-81.9%

Capital Expenditures155.5 M $-13.7%

Free Cash Flow43.9 M $-95.2%

Dividends Paid-85 M $-194.7%

Peer Comparison· Recreational Vehicles

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
HOG	4.6%	1.0%	3.6%	86.5%
DOO	14.3%	10.9%	3.5%	475.8%
Industry median	7.1%	4.9%	2.5%	107.6%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
HOG	4.6%	1.0%	3.6%	86.5%
LCII	3.3%	2.2%	1.1%	57.9%
PATK	7.0%	4.9%	2.1%	202.0%
PII	4.6%	2.2%	2.4%	-75.7%
THO	3.4%	2.0%	1.4%	128.7%
BC	9.5%	6.2%	3.4%	-384.9%
Industry median	7.1%	4.9%	2.5%	107.6%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.