Harley-Davidson (MEX:HOG) Cyclically Adjusted Revenue per Share: MXN707.66 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:HOG Harley-Davidson Inc MEX:HOG
81 GF Score
Price MXN414.20
GF Value MXN396.87
! 8 Warning Signs
View Full Analysis

What is Harley-Davidson Cyclically Adjusted Revenue per Share?

Harley-Davidson MEX:HOG 81 Cyclically Adjusted Revenue per Share is MXN707.66 as of Jun. 2026. GuruFocus rates MEX:HOG with a GF Score™ of 81/100 and a GF Value™ of MXN396.87. The stock has 8 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Harley-Davidson's adjusted revenue per share for the three months ended in Jun. 2026 was MXN197.755. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is MXN707.66 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Harley-Davidson's average Cyclically Adjusted Revenue Growth Rate was 1.70% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 3.30% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 5.50% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was 5.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Harley-Davidson was 15.60% per year. The lowest was 3.30% per year. And the median was 7.20% per year.

As of today (2026-08-23), Harley-Davidson's current stock price is MXN414.20. Harley-Davidson's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was MXN707.66. Harley-Davidson's Cyclically Adjusted PS Ratio of today is 0.59.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Harley-Davidson was 2.30. The lowest was 0.43. And the median was 1.10.


Harley-Davidson  (MEX:HOG) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Harley-Davidson's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=414.20/707.66
=0.59

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Harley-Davidson was 2.30. The lowest was 0.43. And the median was 1.10.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Harley-Davidson Cyclically Adjusted Revenue per Share Related Terms


Harley-Davidson Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Harley-Davidson's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Harley-Davidson Cyclically Adjusted Revenue per Share Chart

Harley-Davidson Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 682.62 836.87 651.50 870.05 778.08

Harley-Davidson Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Revenue per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 815.03 697.97 778.08 732.60 707.66

MEX:HOG vs PATK, LCII, THO: Cyclically Adjusted Revenue per Share Comparison

For the Recreational Vehicles subindustry, Harley-Davidson's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Harley-Davidson Cyclically Adjusted PS Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Harley-Davidson's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Harley-Davidson's Cyclically Adjusted PS Ratio falls into.


MEX:HOG
81GF Score
Harley-Davidson Inc MEX:HOG
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Harley-Davidson Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Harley-Davidson's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=197.755/333.9520*333.9520
=197.755

Current CPI (Jun. 2026) = 333.9520.

Harley-Davidson Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 137.459 241.428 190.138
201612 129.076 241.432 178.540
201703 159.710 243.801 218.766
201706 181.990 244.955 248.111
201709 122.398 246.819 165.607
201712 142.967 246.524 193.669
201803 165.608 249.554 221.616
201806 201.335 251.989 266.822
201809 147.660 252.439 195.340
201812 138.054 251.233 183.509
201903 167.811 254.202 220.458
201906 196.712 256.143 256.468
201909 160.070 256.759 208.194
201912 130.611 256.974 169.736
202003 197.999 258.115 256.173
202006 130.362 257.797 168.872
202009 167.307 260.280 214.663
202012 93.517 260.474 119.898
202103 188.216 264.877 237.299
202106 196.638 271.696 241.695
202109 180.983 274.310 220.333
202112 134.340 278.802 160.914
202203 193.411 287.504 224.658
202206 199.919 296.311 225.315
202209 225.474 296.808 253.691
202212 149.665 296.797 168.401
202303 216.483 301.836 239.517
202306 169.987 305.109 186.056
202309 186.964 307.789 202.857
202312 126.412 306.746 137.624
202403 209.646 312.332 224.158
202406 221.151 314.175 235.072
202409 173.008 315.301 183.242
202412 112.743 315.605 119.297
202503 218.027 319.799 227.676
202506 201.399 322.561 208.511
202509 202.129 324.800 207.824
202512 76.708 324.054 79.051
202603 190.885 330.213 193.046
202606 197.755 333.952 197.755

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of MXN707.66 mean?
Harley-Davidson (MEX:HOG) has a Cyclically Adjusted Revenue per Share of MXN707.66 as of Jun. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Harley-Davidson and its competitors.
Is Harley-Davidson's Cyclically Adjusted Revenue per Share too high?
Harley-Davidson's current Cyclically Adjusted Revenue per Share is MXN707.66. Overall, Harley-Davidson has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Harley-Davidson's Cyclically Adjusted Revenue per Share compare to PATK and LCII?
Harley-Davidson's Cyclically Adjusted Revenue per Share of MXN707.66 can be compared against companies in the Vehicles & Parts industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Vehicles & Parts company?
A good Cyclically Adjusted Revenue per Share depends on the Vehicles & Parts industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Harley-Davidson and its competitors. Harley-Davidson's current Cyclically Adjusted Revenue per Share is MXN707.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harley-Davidson stock overvalued right now?
Harley-Davidson (MEX:HOG) has a current Cyclically Adjusted Revenue per Share of MXN707.66. The stock's GF Value™ is MXN396.87, compared to a current price of MXN414.20 — trading 4.4% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is MXN707.66. Harley-Davidson's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Harley-Davidson (MEX:HOG), the current Cyclically Adjusted Revenue per Share is MXN707.66 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Harley-Davidson (MEX:HOG) Overvalued in 2026?

Based on GuruFocus' analysis, Harley-Davidson stock appears to be overvalued. The current stock price of MXN414.20 is trading 4.4% above its estimated GF Value™ of MXN396.87.

Key valuation signals for MEX:HOG:

  • Cyclically Adjusted Revenue per Share: MXN707.66
  • GF Value™: MXN396.87 vs. price of MXN414.20 (4.4% above fair value)
  • GF Score™: 81/100 with 8 warning signs

No single metric tells the full story. See the MEX:HOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Harley-Davidson Business Description

Address 3700 West Juneau Avenue, Milwaukee, WI, USA, 53208
Harley-Davidson is a leading global manufacturer of heavyweight motorcycles across the custom, cruising, and touring categories, as well as related merchandise, parts, and accessories. In recent years, the firm has expanded into the adventure touring market with its Pan America model, into electric with the LiveWire brand, and is returning to smaller-displacement bikes with the Sprint. Its captive finance arm, Harley-Davidson Financial Services, provides wholesale financing to dealers and retail financing and insurance brokerage services to customers. Harley captured around 34% of the heavyweight domestic market in 2025.
81GF Score

Get the complete analysis for MEX:HOG

Cyclically Adjusted Revenue per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN414.20
Price
MXN396.87
GF Value