Harley-Davidson's Operating Income for the
three
months ended in Mar. 2026 was $23 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $250 Mil.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Harley-Davidson's annualizedROC % for the quarter that ended in Mar. 2026 was 1.29%.
Harley-Davidson's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 10.23%.
Harley-Davidson (NYSE:HOG) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Harley-Davidson's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* 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.
4. 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 Operating Income growth rate using Operating Income per share data.
Be Aware
Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Harley-Davidson Operating Income Related Terms
Harley-Davidson Operating Income Historical Data
* Premium members only.
The historical data trend for Harley-Davidson's Operating Income 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.
Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.
Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $250 Mil.
* 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 (HOG) has a Operating Income of $250 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Harley-Davidson and its competitors.
Is Harley-Davidson's Operating Income too high?
Harley-Davidson's current Operating Income is $250 Mil. Overall, Harley-Davidson has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harley-Davidson's Operating Income compare to LCII and PATK?
Harley-Davidson's Operating Income of $250 Mil 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 Operating Income for a Vehicles & Parts company?
A good Operating Income depends on the Vehicles & Parts industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Harley-Davidson and its competitors. Harley-Davidson's current Operating Income is $250 Mil. 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?
Based on GuruFocus' analysis, Harley-Davidson (HOG) is currently considered Modestly Undervalued. The stock's GF Value™ is $27.97, compared to a current price of $24.96 — trading 10.8% below its estimated fair value. The current Operating Income is $250 Mil. Harley-Davidson's overall GF Score™ is 80/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Harley-Davidson (HOG), the current Operating Income is $250 Mil as of Mar. 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 (HOG) Overvalued in 2026?
Based on GuruFocus' analysis, Harley-Davidson stock appears to be undervalued.
The current stock price of $24.96 is trading 10.8% below its estimated GF Value™ of $27.97.
GuruFocus considers Harley-Davidson to be Modestly Undervalued.
Key valuation signals for HOG:
Operating Income: $250 Mil
GF Value™: $27.97 vs. price of $24.96 (10.8% below fair value)
No single metric tells the full story. See the HOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
80GF Score
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