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Harley-Davidson (WBO:HOG) E10 : €3.79 (As of Dec. 2024)


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What is Harley-Davidson E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Harley-Davidson's adjusted earnings per share data for the three months ended in Dec. 2024 was €-0.888. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is €3.79 for the trailing ten years ended in Dec. 2024.

During the past 12 months, Harley-Davidson's average E10 Growth Rate was -1.70% per year. During the past 3 years, the average E10 Growth Rate was 4.50% per year. During the past 5 years, the average E10 Growth Rate was 5.90% per year. During the past 10 years, the average E10 Growth Rate was 4.10% 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 E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Harley-Davidson was 26.30% per year. The lowest was -1.60% per year. And the median was 7.45% per year.

As of today (2025-03-19), Harley-Davidson's current stock price is €23.21. Harley-Davidson's E10 for the quarter that ended in Dec. 2024 was €3.79. Harley-Davidson's Shiller PE Ratio of today is 6.12.

During the past 13 years, the highest Shiller PE Ratio of Harley-Davidson was 22.00. The lowest was 4.71. And the median was 12.15.


Harley-Davidson E10 Historical Data

The historical data trend for Harley-Davidson's E10 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 E10 Chart

Harley-Davidson Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.53 3.03 3.53 3.68 3.79

Harley-Davidson Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
E10 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 3.68 3.81 3.79 3.72 3.79

Competitive Comparison of Harley-Davidson's E10

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

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

* The bar in red indicates where Harley-Davidson's Shiller PE Ratio falls into.



Harley-Davidson E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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 earnings per share data for the three months ended in Dec. 2024 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2024 (Change)*Current CPI (Dec. 2024)
=-0.888/133.1571*133.1571
=-0.888

Current CPI (Dec. 2024) = 133.1571.

Harley-Davidson Quarterly Data

per share eps CPI Adj_EPS
201503 1.173 99.621 1.568
201506 1.283 100.684 1.697
201509 0.615 100.392 0.816
201512 0.202 99.792 0.270
201603 1.221 100.470 1.618
201606 1.380 101.688 1.807
201609 0.570 101.861 0.745
201612 0.256 101.863 0.335
201703 0.982 102.862 1.271
201706 1.317 103.349 1.697
201709 0.336 104.136 0.430
201712 0.042 104.011 0.054
201803 0.835 105.290 1.056
201806 1.241 106.317 1.554
201809 0.583 106.507 0.729
201812 0.003 105.998 0.004
201903 0.708 107.251 0.879
201906 1.089 108.070 1.342
201909 0.499 108.329 0.613
201912 0.081 108.420 0.099
202003 0.407 108.902 0.498
202006 -0.533 108.767 -0.653
202009 0.662 109.815 0.803
202012 -0.518 109.897 -0.628
202103 1.411 111.754 1.681
202106 1.104 114.631 1.282
202109 0.893 115.734 1.027
202112 0.124 117.630 0.140
202203 1.317 121.301 1.446
202206 1.381 125.017 1.471
202209 1.798 125.227 1.912
202212 0.264 125.222 0.281
202303 1.905 127.348 1.992
202306 1.126 128.729 1.165
202309 1.293 129.860 1.326
202312 0.165 129.419 0.170
202403 1.582 131.776 1.599
202406 1.514 132.554 1.521
202409 0.820 133.029 0.821
202412 -0.888 133.157 -0.888

Add all the adjusted EPS together and divide 10 will get our e10.


Harley-Davidson  (WBO:HOG) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Harley-Davidson's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=23.21/3.79
=6.12

* 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 Shiller P/E Ratio of Harley-Davidson was 22.00. The lowest was 4.71. And the median was 12.15.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Harley-Davidson E10 Related Terms

Thank you for viewing the detailed overview of Harley-Davidson's E10 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.