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HOG (Harley-Davidson) Cyclically Adjusted PB Ratio : 1.43 (As of Jul. 06, 2025)


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What is Harley-Davidson Cyclically Adjusted PB Ratio?

As of today (2025-07-06), Harley-Davidson's current share price is $25.53. Harley-Davidson's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was $17.88. Harley-Davidson's Cyclically Adjusted PB Ratio for today is 1.43.

The historical rank and industry rank for Harley-Davidson's Cyclically Adjusted PB Ratio or its related term are showing as below:

HOG' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.17   Med: 2.85   Max: 5.19
Current: 1.43

During the past years, Harley-Davidson's highest Cyclically Adjusted PB Ratio was 5.19. The lowest was 1.17. And the median was 2.85.

HOG's Cyclically Adjusted PB Ratio is ranked worse than
52.69% of 1021 companies
in the Vehicles & Parts industry
Industry Median: 1.31 vs HOG: 1.43

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 PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Harley-Davidson's adjusted book value per share data for the three months ended in Mar. 2025 was $25.487. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $17.88 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Harley-Davidson Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Harley-Davidson's Cyclically Adjusted PB Ratio 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.

* Premium members only.

Harley-Davidson Cyclically Adjusted PB Ratio Chart

Harley-Davidson Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.83 2.68 2.72 2.25 1.72

Harley-Davidson Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted PB Ratio 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 2.60 1.97 2.23 1.72 1.41

Competitive Comparison of Harley-Davidson's Cyclically Adjusted PB Ratio

For the Recreational Vehicles subindustry, Harley-Davidson's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB 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's Cyclically Adjusted PB Ratio Distribution in the Vehicles & Parts Industry

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

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


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Harley-Davidson Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Harley-Davidson's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=25.53/17.88
=1.43

* 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's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Harley-Davidson's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book=Book Value per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=25.487/134.9266*134.9266
=25.487

Current CPI (Mar. 2025) = 134.9266.

Harley-Davidson Quarterly Data

Book Value per Share CPI Adj_Book
201506 14.680 100.684 19.673
201509 13.341 100.392 17.930
201512 9.958 99.792 13.464
201603 10.318 100.470 13.857
201606 11.303 101.688 14.998
201609 11.271 101.861 14.930
201612 10.913 101.863 14.455
201703 11.350 102.862 14.888
201706 11.994 103.349 15.659
201709 11.033 104.136 14.295
201712 10.972 104.011 14.233
201803 11.890 105.290 15.237
201806 12.978 106.317 16.470
201809 13.222 106.507 16.750
201812 11.111 105.998 14.143
201903 11.210 107.251 14.103
201906 11.914 108.070 14.875
201909 11.444 108.329 14.254
201912 11.832 108.420 14.725
202003 11.055 108.902 13.697
202006 10.608 108.767 13.159
202009 11.557 109.815 14.200
202012 11.265 109.897 13.831
202103 12.883 111.754 15.554
202106 14.208 114.631 16.723
202109 15.176 115.734 17.693
202112 16.626 117.630 19.071
202203 16.235 121.301 18.059
202206 17.048 125.017 18.399
202209 18.372 125.227 19.795
202212 19.906 125.222 21.449
202303 21.099 127.348 22.355
202306 21.747 128.729 22.794
202309 23.602 129.860 24.523
202312 23.863 129.419 24.878
202403 24.353 131.776 24.935
202406 26.119 132.554 26.587
202409 26.949 133.029 27.333
202412 25.475 133.157 25.814
202503 25.487 134.927 25.487

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book 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.


Harley-Davidson  (NYSE:HOG) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Harley-Davidson Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Harley-Davidson's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


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 segments, 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 and into electric with the LiveWire brand. 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 37% of the heavyweight domestic market in 2024.
Executives
Luke Christopher Mansfield officer: VP Chief Strategy 70 HILLTOP DRIVE, CHAPPAQUA NY 10514
Maryrose Sylvester director C/O 3700 WEST JUNEAU AVENUE, MILWAUKEE WI 53208
Charles Do officer: Sr. Vice President, HDFSI 3700 WEST JUNEAU AVENUE, MILWAUKEE WI 53208
Rafeh Masood director C/O BJ'S WHOLESALE CLUB, INC., 25 RESEARCH DRIVE, WESTBOROUGH MA 01581
Sara L Levinson director RODALE INC, 733 3RD AVE 15TH FL, MILWAUKEE WI 10017
Allan C. Golston director 2825 AIRVIEW BLVD., KALAMAZOO MI 49002
Farley Jr James D director FORD MOTOR COMPANY, ONE AMERICAN ROAD, DEARBORN MI 48126
R John Anderson director LEVI STRAUSS & CO., 1155 BATTERY STREET, SAN FRANCISCO CA 94111
Norman Thomas Linebarger director
Troy Alstead director 1155 BATTERY STREET, SAN FRANCISCO CA 94111
David Viney officer: Interim CFO, VP and Treasurer 3700 WEST JUNEAU AVENUE, MILWAUKEE WI 53208
O'sullivan Coyne Edel M. officer: Chief Commercial Officer 3700 WEST JUNEAU AVENUE, MILWAUKEE WI 53208
Jonathan R Root officer: SVP - HDFSI 3700 W JUNEAU, MILWAUKEE WI 53208
Tori Termaat officer: Chief Human Resources Officer 3700 WEST JUNEAU AVENUE, MILWAUKEE WI 53208
Gina M Goetter officer: Chief Financial Officer C/O HASBRO, INC., 1027 NEWPORT AVENUE, PAWTUCKET RI 02861