Harley-Davidson
Market Cap
US$2.3b
Last Updated
2020/04/04 00:25 UTC
Data Sources
Company Financials +
Executive Summary
Harley-Davidson, Inc. manufactures and sells custom, cruiser, and touring motorcycles.
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and undervalued.
Similar Companies
Share Price & News
How has Harley-Davidson's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HOG's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-15.5%
HOG
-11.8%
US Auto
-2.0%
US Market
1 Year Return
-62.7%
HOG
-11.8%
US Auto
-15.1%
US Market
Return vs Industry: HOG underperformed the US Auto industry which returned -6.3% over the past year.
Return vs Market: HOG underperformed the US Market which returned -14.9% over the past year.
Shareholder returns
| HOG | Industry | Market | |
|---|---|---|---|
| 7 Day | -15.5% | -11.8% | -2.0% |
| 30 Day | -45.9% | -36.8% | -19.7% |
| 90 Day | -58.5% | -25.3% | -23.2% |
| 1 Year | -61.0%-62.7% | -9.1%-11.8% | -13.4%-15.1% |
| 3 Year | -72.4%-75.3% | -2.3%-10.5% | 10.9%3.7% |
| 5 Year | -71.6%-75.9% | -5.4%-21.5% | 28.4%14.4% |
Price Volatility Vs. Market
How volatile is Harley-Davidson's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
A Sliding Share Price Has Us Looking At Harley-Davidson, Inc.'s (NYSE:HOG) P/E Ratio1 week ago | Simply Wall St
Does The Harley-Davidson, Inc. (NYSE:HOG) Share Price Tend To Follow The Market?3 weeks ago | Simply Wall St
How Does Harley-Davidson's (NYSE:HOG) P/E Compare To Its Industry, After The Share Price Drop?Valuation
Is Harley-Davidson undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HOG ($15.04) is trading below our estimate of fair value ($37.86)
Significantly Below Fair Value: HOG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HOG is good value based on its PE Ratio (5.6x) compared to the Auto industry average (10.2x).
PE vs Market: HOG is good value based on its PE Ratio (5.6x) compared to the US market (12.5x).
Price to Earnings Growth Ratio
PEG Ratio: HOG is poor value based on its PEG Ratio (3.6x)
Price to Book Ratio
PB vs Industry: HOG is good value based on its PB Ratio (1.3x) compared to the US Auto industry average (2x).
Next Steps
Future Growth
How is Harley-Davidson forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
1.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HOG's forecast earnings growth (1.6% per year) is below the savings rate (1.7%).
Earnings vs Market: HOG's earnings (1.6% per year) are forecast to grow slower than the US market (12.2% per year).
High Growth Earnings: HOG's earnings are forecast to grow, but not significantly.
Revenue vs Market: HOG's revenue is expected to decline over the next 3 years (-7.9% per year).
High Growth Revenue: HOG's revenue is forecast to decline over the next 3 years (-7.9% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HOG's Return on Equity is forecast to be high in 3 years time (21%)
Next Steps
Past Performance
How has Harley-Davidson performed over the past 5 years?
-14.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HOG has high quality earnings.
Growing Profit Margin: HOG's current net profit margins (7.9%) are lower than last year (9.3%).
Past Earnings Growth Analysis
Earnings Trend: HOG's earnings have declined by -14.4% per year over the past 5 years.
Accelerating Growth: HOG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HOG had negative earnings growth (-20.3%) over the past year, making it difficult to compare to the Auto industry average (-14.5%).
Return on Equity
High ROE: Whilst HOG's Return on Equity (23.48%) is high, this metric is skewed due to their high level of debt.
Next Steps
Financial Health
How is Harley-Davidson's financial position?
Financial Position Analysis
Short Term Liabilities: HOG's short term assets ($4.2B) exceed its short term liabilities ($3.2B).
Long Term Liabilities: HOG's short term assets ($4.2B) do not cover its long term liabilities ($5.5B).
Debt to Equity History and Analysis
Debt Level: HOG's debt to equity ratio (413.2%) is considered high.
Reducing Debt: HOG's debt to equity ratio has increased from 189.4% to 413.2% over the past 5 years.
Debt Coverage: HOG's debt is not well covered by operating cash flow (11.6%).
Interest Coverage: HOG's interest payments on its debt are well covered by EBIT (41.9x coverage).
Balance Sheet
Inventory Level: HOG has a low level of unsold assets or inventory.
Debt Coverage by Assets: HOG's debt is not covered by short term assets (assets are 0.6x debt).
Next Steps
Dividend
What is Harley-Davidson's current dividend yield, its reliability and sustainability?
10.11%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: HOG's dividend (10.11%) is higher than the bottom 25% of dividend payers in the US market (2.04%).
High Dividend: HOG's dividend (10.11%) is in the top 25% of dividend payers in the US market (5.7%)
Stability and Growth of Payments
Stable Dividend: HOG's dividends per share have been stable in the past 10 years.
Growing Dividend: HOG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (55.6%), HOG's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: HOG's dividends in 3 years are forecast to be well covered by earnings (38.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.6yrs
Average management tenure
CEO
Jochen Zeitz (56yo)
0.17
Tenure
US$250,000
Compensation
Mr. Jochen Zeitz is the Founder of The Zeitz Foundation. He has been Chairman, Acting President and CEO of Harley-Davidson, Inc. since February 2020. Mr. Zeitz served as the Chief Sustainability Officer of ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 0.17yr | US$250.00k | no data | |
| Senior VP & CFO | 10.58yrs | US$3.58m | 0.046% $1.1m | |
| President & COO of Harley-Davidson Financial Services | no data | US$3.35m | 0.014% $321.4k | |
| Chief Accounting Officer | 10.92yrs | no data | 0.0035% $78.5k | |
| Director of Investor Relations | no data | no data | no data | |
| Chief Legal Officer | 0.42yr | no data | no data | |
| VP & Chief Communications Officer | 9.92yrs | no data | 0.0062% $141.5k | |
| VP & Chief Human Resources Officer | 1.25yrs | no data | 0.0033% $75.3k | |
| Chief Stylist | no data | no data | no data | |
| VP & MD of Americas | no data | no data | no data |
5.6yrs
Average Tenure
57yo
Average Age
Experienced Management: HOG's management team is seasoned and experienced (5.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 0.17yr | US$250.00k | no data | |
| Independent Director | 11.75yrs | US$255.00k | 0.00044% $10.0k | |
| Independent Director | 24.17yrs | US$235.00k | 0.0032% $72.8k | |
| Presiding Director | 0.17yr | US$395.00k | 0.019% $424.6k | |
| Independent Director | 9.5yrs | US$235.00k | 0.0015% $34.2k | |
| Independent Director | 3.17yrs | US$255.00k | 0.0076% $171.2k | |
| Independent Director | 3.75yrs | US$240.00k | 0.010% $228.4k | |
| Independent Director | 3.17yrs | US$343.48k | 0.0073% $165.6k | |
| Independent Director | 3.75yrs | US$235.00k | 0.0099% $225.2k |
3.8yrs
Average Tenure
56yo
Average Age
Experienced Board: HOG's board of directors are considered experienced (3.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Harley-Davidson, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Harley-Davidson, Inc.
- Ticker: HOG
- Exchange: NYSE
- Founded: 1903
- Industry: Motorcycle Manufacturers
- Sector: Automobiles
- Market Cap: US$2.268b
- Shares outstanding: 150.80m
- Website: https://www.harley-davidson.com
Number of Employees
Location
- Harley-Davidson, Inc.
- 3700 West Juneau Avenue
- Milwaukee
- Wisconsin
- 53208
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| HOG | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jul 1986 |
| HAR | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jul 1986 |
| HAR | XTRA (XETRA Trading Platform) | Yes | Common Stock | DE | EUR | Jul 1986 |
| HOG | SWX (SIX Swiss Exchange) | Yes | Common Stock | CH | CHF | Jul 1986 |
| 0QYY | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jul 1986 |
| HAR | ETLX (Eurotlx) | Yes | Common Stock | IT | EUR | Jul 1986 |
| HOG | WBAG (Wiener Boerse AG) | Yes | Common Stock | AT | EUR | Jul 1986 |
| HOG * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Jul 1986 |
Biography
Harley-Davidson, Inc. manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services. This segment sells its products to retail customers through a network of independent dealers, as well as e-commerce channels in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific. The Financial Services segment provides wholesale financing services, such as floorplan and open account financing of motorcycles, and parts and accessories; and retail financing services, including installment lending for the purchase of new and used Harley-Davidson motorcycles, as well as point-of-sale protection products comprising motorcycle insurance, extended service contracts, and motorcycle maintenance protection. This segment also licenses the Harley-Davidson brand to third-party financial institutions. The company was founded in 1903 and is based in Milwaukee, Wisconsin.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/04 00:25 |
| End of Day Share Price | 2020/04/03 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.