Harley-Davidson
Market Cap
US$5.7b
Last Updated
2019/10/16 23:36 UTC
Data Sources
Company Financials +
Executive Summary
Harley-Davidson, Inc. manufactures and sells custom, cruiser, and touring motorcycles.
Snowflake
Fundamentals
Undervalued established dividend payer.
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
Market Performance
7 Day Return
9.9%
HOG
6.2%
US Auto
2.3%
US Market
1 Year Return
-12.3%
HOG
9.3%
US Auto
5.6%
US Market
Return vs Industry: HOG underperformed the US Auto industry which returned 9.3% over the past year.
Return vs Market: HOG underperformed the US Market which returned 5.6% over the past year.
Shareholder returns
| HOG | Industry | Market | |
|---|---|---|---|
| 7 Day | 9.9% | 6.2% | 2.3% |
| 30 Day | 1.2% | 0.5% | -1.0% |
| 90 Day | 2.3% | -5.1% | -0.7% |
| 1 Year | -8.5%-12.3% | 12.5%9.3% | 7.9%5.6% |
| 3 Year | -26.1%-33.2% | 26.1%14.1% | 45.6%36.3% |
| 5 Year | -31.3%-41.0% | 10.2%-6.8% | 65.8%47.6% |
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 month ago | Simply Wall St
Only 3 Days Left To Cash In On Harley-Davidson, Inc. (NYSE:HOG) Dividend1 month ago | Simply Wall St
Are Investors Undervaluing Harley-Davidson, Inc. (NYSE:HOG) By 44%?1 month ago | Simply Wall St
How Much is Harley-Davidson, Inc.'s (NYSE:HOG) CEO Getting Paid?Valuation
Is Harley-Davidson undervalued compared to its fair value and its price relative to the market?
41.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Undervalued: HOG ($36.56) is trading below our estimate of fair value ($62.12)
Significantly Undervalued: 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 (13.5x) compared to the Auto industry average (16.6x).
PE vs Market: HOG is good value based on its PE Ratio (13.5x) compared to the US market (17.7x).
Price to Earnings Growth Ratio
Low PEG Ratio: HOG is poor value based on its PEG Ratio (1.4x)
Price to Book Ratio
PB vs Industry: HOG is good value based on its PB Ratio (3x) compared to the US Auto industry average (3x).
Next Steps
Future Growth
How is Harley-Davidson forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
9.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HOG's forecast earnings growth (9.7% per year) is above the savings rate (2.7%).
Earnings vs Market: HOG's earnings (9.7% per year) are forecast to grow slower than the US market (14.5% 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 (-0.7% per year).
High Growth Revenue: HOG's revenue is forecast to decline over the next 3 years (-0.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: HOG's Return on Equity is forecast to be high in 3 years time (33.5%)
Next Steps
Past Performance
How has Harley-Davidson performed over the past 5 years?
-13.4%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: HOG's earnings have declined by -13.4% 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 (-11.3%) over the past year, making it difficult to compare to the Auto industry average (-11.3%).
Return on Equity
High ROE: Whilst HOG's Return on Equity (22.92%) is high, this metric is skewed due to their high level of debt.
Return on Assets
ROA vs Industry: HOG has a higher Return on Assets than the Auto industry average last year.
Return on Capital Employed
ROCE Improving: HOG's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Harley-Davidson's financial position?
Financial Position Analysis
Short Term Liabilities: HOG's short term assets ($4.3B) exceeds its short term liabilities ($3.7B)
Long Term Liabilities: HOG's short term assets (4.3B) do not cover its long term liabilities (5.1B)
Debt to Equity History and Analysis
Debt Level: HOG's debt to equity ratio (390.7%) is considered high
Reducing Debt: HOG's debt to equity ratio has increased from 159.3% to 390.7% over the past 5 years.
Debt Coverage: HOG's debt is not well covered by operating cash flow (12.9%).
Interest Coverage: HOG's interest payments on its debt are well covered by EBIT (27.8x 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?
4.10%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: HOG's dividend (4.1%) is higher than the bottom 25% of dividend payers in the US market (1.46%).
High Dividend: HOG's dividend (4.1%) is in the top 25% of dividend payers in the US market (3.76%)
Stable Dividend: HOG's dividend payments have been volatile 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%), 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 (40.7% payout ratio).
Next Steps
Management
What is the CEO of Harley-Davidson's salary, the management and board of directors tenure and is there insider trading?
6.9yrs
Average management tenure
CEO
Matt Levatich (54yo)
4.4yrs
Tenure
US$9,149,692
Compensation
Mr. Matthew S. Levatich, also known as Matt, has been the Chief Executive Officer since May 1, 2015 and is its President. He served as President of Harley-Davidson, Inc. since May 1, 2015. Mr. Levatich ser ...
CEO Compensation Analysis
Compensation vs. Market: Matt's total compensation ($USD9.15M) is above average for companies of similar size in the US market ($USD6.81M).
Compensation vs Earnings: Matt's compensation has been consistent with company performance over the past year.
Management Age and Tenure
6.9yrs
Average Tenure
55.5yo
Average Age
Experienced Management: HOG's management team is seasoned and experienced (6.9 years average tenure).
Board Age and Tenure
4.1yrs
Average Tenure
56yo
Average Age
Experienced Board: HOG's board of directors are considered experienced (4.1 years average tenure).
Insider Trading
Insider Buying: HOG insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Accounting Officer Chief Accounting Officer |
| Shares | 4,348 |
| Max Price | US$36.00 |
| Entity | Individual |
| Role | Chief Legal Officer VP, Chief Legal Officer |
| Shares | 11,884 |
| Max Price | US$35.51 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 2,227 |
| Max Price | US$33.05 |
Ownership Breakdown
Management Team
Joanne Bischmann (57yo)
VP & Chief Communications Officer
- Tenure: 9.4yrs
Larry Hund (63yo)
President & COO of Harley-Davidson Financial Services
- Tenure: 0yrs
- Compensation: US$3.35m
Matt Levatich (54yo)
President
- Tenure: 4.4yrs
- Compensation: US$9.15m
Paul Jones (48yo)
VP, Chief Legal Officer
- Tenure: 3.7yrs
- Compensation: US$2.27m
John Olin (58yo)
Senior VP & CFO
- Tenure: 10.1yrs
- Compensation: US$3.58m
Mark Kornetzke
Chief Accounting Officer
- Tenure: 10.4yrs
Ray Drea
Chief Stylist
- Tenure: 0yrs
Mike Kennedy
VP & MD of Americas
- Tenure: 0yrs
Shannon Burns
Director of Investor Relations
- Tenure: 0yrs
Julie Anding (50yo)
VP & Chief Human Resources Officer
- Tenure: 0.8yrs
Board Members
Tom Linebarger (56yo)
Independent Director
- Tenure: 11.3yrs
- Compensation: US$255.00k
Sara Levinson (68yo)
Independent Director
- Tenure: 23.7yrs
- Compensation: US$235.00k
Jochen Zeitz (56yo)
Independent Director
- Tenure: 12.2yrs
- Compensation: US$250.00k
Mike Cave (58yo)
Non-Executive Chairman
- Tenure: 3.5yrs
- Compensation: US$395.00k
R. Anderson (68yo)
Independent Director
- Tenure: 9yrs
- Compensation: US$235.00k
Troy Alstead (56yo)
Independent Director
- Tenure: 2.7yrs
- Compensation: US$255.00k
Maryrose Sylvester (54yo)
Independent Director
- Tenure: 3.3yrs
- Compensation: US$240.00k
Allan Golston (52yo)
Independent Director
- Tenure: 2.7yrs
- Compensation: US$343.48k
Matt Levatich (54yo)
President
- Tenure: 4.4yrs
- Compensation: US$9.15m
Brian Niccol (45yo)
Independent Director
- Tenure: 3.3yrs
- Compensation: US$235.00k
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$5.661b
- Shares outstanding: 154.84m
- 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 |
| 0QYY | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Jul 1986 |
| HOG | WBAG (Wiener Boerse AG) | Yes | Common Stock | AT | EUR | 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 Rel ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/16 23:36 |
| End of Day Share Price | 2019/10/16 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.