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HARLEY-DAVIDSON, INC. |
Market Closed -
Other stock markets
|
|
5-day change | 1st Jan Change | |
| 32.37 USD | +0.84% | +1.47% | -22.19% | |
| Dec. 08 | U.S. Currency | FA |
| Nov. 27 | Harley-Davidson Keeps Quarterly Dividend of $0.165 per Share, Payable Dec. 27 to Stockholders of Record Dec. 11 | MT |
Valuation
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5 556 | 5 738 | 5 625 | 5 800 | 6 081 | 4 471 | - | - |
| Enterprise Value (EV) 1 | 11 951 | 12 349 | 11 355 | 10 685 | 11 798 | 10 136 | 10 077 | 9 961 |
| P/E ratio | 10,7x | 13,9x | 3 670x | 9,00x | 8,39x | 6,89x | 7,31x | 6,72x |
| Yield | 4,34% | 4,03% | 1,20% | 1,59% | 1,51% | 2,04% | 2,30% | 2,48% |
| Capitalization / Revenue | 1,12x | 1,25x | 1,72x | 1,28x | 1,24x | 0,91x | 0,90x | 0,86x |
| EV / Revenue | 2,41x | 2,70x | 3,48x | 2,35x | 2,41x | 2,06x | 2,02x | 1,92x |
| EV / EBITDA | 11,0x | 13,3x | 32,5x | 10,8x | 11,1x | 10,4x | 10,7x | 10,2x |
| EV / FCF | 12,0x | 18,0x | 10,8x | 12,5x | 29,7x | 14,1x | 13,9x | 18,8x |
| FCF Yield | 8,30% | 5,56% | 9,22% | 8,01% | 3,36% | 7,11% | 7,19% | 5,32% |
| Price to Book | 3,19x | 3,17x | 3,26x | 2,27x | 2,12x | 1,41x | 1,21x | 1,06x |
| Nbr of stocks (in thousands) | 162 830 | 154 292 | 153 279 | 153 877 | 146 184 | 139 270 | - | - |
| Reference price 2 | 34,1 | 37,2 | 36,7 | 37,7 | 41,6 | 32,1 | 32,1 | 32,1 |
| Announcement Date | 1/29/19 | 1/28/20 | 2/2/21 | 2/8/22 | 2/2/23 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4 969 | 4 573 | 3 264 | 4 540 | 4 888 | 4 928 | 4 983 | 5 185 |
| EBITDA 1 | 1 085 | 929 | 350 | 992 | 1 061 | 979 | 938 | 975 |
| EBIT 1 | 820 | 696 | 164 | 827 | 909 | 760 | 763 | 867 |
| Operating Margin | 16,5% | 15,2% | 5,03% | 18,2% | 18,6% | 15,4% | 15,3% | 16,7% |
| Earnings before Tax (EBT) 1 | 687 | 557 | -15,7 | 819 | 931 | 857 | 808 | 776 |
| Net income 1 | 531 | 424 | 1,30 | 650 | 741 | 676 | 626 | 600 |
| Net margin | 10,7% | 9,26% | 0,04% | 14,3% | 15,2% | 13,7% | 12,6% | 11,6% |
| EPS 2 | 3,19 | 2,68 | 0,01 | 4,19 | 4,96 | 4,66 | 4,39 | 4,78 |
| Free Cash Flow 1 | 992 | 687 | 1 047 | 856 | 397 | 721 | 725 | 530 |
| FCF margin | 20,0% | 15,0% | 32,1% | 18,8% | 8,12% | 14,6% | 14,5% | 10,2% |
| FCF Conversion (EBITDA) | 91,5% | 74,0% | 299% | 86,2% | 37,4% | 73,6% | 77,2% | 54,3% |
| FCF Conversion (Net income) | 187% | 162% | 80 650% | 132% | 53,5% | 107% | 116% | 88,2% |
| Dividend per Share 2 | 1,48 | 1,50 | 0,44 | 0,60 | 0,63 | 0,65 | 0,74 | 0,80 |
| Announcement Date | 1/29/19 | 1/28/20 | 2/2/21 | 2/8/22 | 2/2/23 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period : December | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1 332 | 1 161 | 816 | 1 303 | 1 266 | 1 437 | 919 | 1 558 | 1 198 | 1 297 | 873 | 1 486 | 1 212 | 1 250 | 856 |
| EBITDA 1 | 338 | 272 | 37,6 | 328 | 316 | 376 | 40,6 | - | 259 | 250 | 26,1 | 376 | 253 | 252 | -5,00 |
| EBIT 1 | 297 | 230 | -5,06 | 289 | 278 | 339 | 3,56 | 370 | 221 | 209 | -19,3 | 326 | 222 | 185 | -14,0 |
| Operating Margin | 22,3% | 19,9% | -0,62% | 22,2% | 21,9% | 23,6% | 0,39% | 23,7% | 18,5% | 16,1% | -2,21% | 21,9% | 18,3% | 14,8% | -1,63% |
| Earnings before Tax (EBT) 1 | 276 | 197 | 5,54 | 291 | 276 | 342 | 22,6 | 392 | 232 | 238 | -4,39 | 346 | 245 | 210 | 1,75 |
| Net income 1 | 206 | 163 | 21,6 | 223 | 216 | 261 | 42,0 | 304 | 178 | 199 | -1,43 | 269 | 193 | 165 | 4,83 |
| Net margin | 15,5% | 14,0% | 2,64% | 17,1% | 17,0% | 18,2% | 4,57% | 19,5% | 14,9% | 15,3% | -0,16% | 18,1% | 15,9% | 13,2% | 0,56% |
| EPS 2 | 1,33 | 1,05 | 0,14 | 1,45 | 1,46 | 1,78 | 0,28 | 2,04 | 1,22 | 1,38 | 0,01 | 1,88 | 1,31 | 1,13 | 0,01 |
| Dividend per Share 2 | 0,15 | 0,15 | 0,15 | 0,16 | 0,16 | 0,16 | 0,16 | 0,17 | 0,17 | 0,17 | 0,17 | 0,18 | 0,18 | 0,18 | 0,18 |
| Announcement Date | 7/21/21 | 10/27/21 | 2/8/22 | 4/27/22 | 7/28/22 | 10/26/22 | 2/2/23 | 4/27/23 | 7/27/23 | 10/26/23 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6 396 | 6 611 | 5 730 | 4 886 | 5 717 | 5 666 | 5 606 | 5 490 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5,90x | 7,12x | 16,4x | 4,92x | 5,39x | 5,79x | 5,97x | 5,63x |
| Free Cash Flow 1 | 992 | 687 | 1 047 | 856 | 397 | 721 | 725 | 530 |
| ROE (net income / shareholders' equity) | 29,4% | 23,7% | 6,70% | 30,5% | 27,2% | 22,6% | 18,5% | 18,2% |
| Shareholders' equity 1 | 1 809 | 1 789 | 19,4 | 2 129 | 2 728 | 2 986 | 3 376 | 3 298 |
| ROA (Net income/ Total Assets) | 5,93% | 4,00% | 1,05% | 5,66% | 6,57% | 6,00% | 5,30% | 5,70% |
| Assets 1 | 8 961 | 10 597 | 124 | 11 484 | 11 272 | 11 267 | 11 808 | 10 535 |
| Book Value Per Share 2 | 10,7 | 11,7 | 11,3 | 16,6 | 19,6 | 22,8 | 26,4 | 30,4 |
| Cash Flow per Share 2 | 7,24 | 5,60 | - | 6,30 | 3,67 | 10,5 | 7,16 | 4,62 |
| Capex 1 | 214 | 181 | 131 | 120 | 152 | 234 | 258 | 249 |
| Capex / Sales | 4,30% | 3,97% | 4,01% | 2,65% | 3,10% | 4,75% | 5,18% | 4,80% |
| Announcement Date | 1/29/19 | 1/28/20 | 2/2/21 | 2/8/22 | 2/2/23 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating :
Investor Rating :
ESG Refinitiv :
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
32.1USD
Average target price
38.94USD
Spread / Average Target
+21.32%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -22.26% | 4 471 M $ | |
| +69.75% | 20 619 M $ | |
| +24.59% | 13 300 M $ | |
| +77.85% | 10 833 M $ | |
| +35.36% | 8 900 M $ | |
| +26.01% | 8 531 M $ | |
| +3.37% | 5 106 M $ | |
| -25.85% | 1 904 M $ | |
| +12.55% | 1 534 M $ | |
| 0.00% | 1 078 M $ |
- Stock
- Equities
- Stock Harley-Davidson, Inc. - Nyse
- Financials Harley-Davidson, Inc.
