Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Harley-Davidson's retained earnings for the quarter that ended in Mar. 2026 was $3,721 Mil.
Harley-Davidson's quarterly retained earnings
declined
from Sep. 2025 ($4,017 Mil) to Dec. 2025 ($3,717 Mil) but then
increased
from Dec. 2025 ($3,717 Mil) to Mar. 2026 ($3,721 Mil).
Harley-Davidson's annual retained earnings
increased
from Dec. 2023 ($3,101 Mil) to Dec. 2024 ($3,465 Mil) and
increased
from Dec. 2024 ($3,465 Mil) to Dec. 2025 ($3,717 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Harley-Davidson Retained Earnings Historical Data
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The historical data trend for Harley-Davidson's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Harley-Davidson (HOG) has a Retained Earnings of $3,721 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Harley-Davidson and its competitors.
Is Harley-Davidson's Retained Earnings too high?
Harley-Davidson's current Retained Earnings is $3,721 Mil. Overall, Harley-Davidson has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Harley-Davidson's Retained Earnings compare to LCII and PATK?
Harley-Davidson's Retained Earnings of $3,721 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 Retained Earnings for a Vehicles & Parts company?
A good Retained Earnings depends on the Vehicles & Parts industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Harley-Davidson and its competitors. Harley-Davidson's current Retained Earnings is $3,721 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 Fairly Valued. The stock's GF Value™ is $27.95, compared to a current price of $25.83 — trading 7.6% below its estimated fair value. The current Retained Earnings is $3,721 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 Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Harley-Davidson (HOG), the current Retained Earnings is $3,721 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 $25.83 is trading 7.6% below its estimated GF Value™ of $27.95.
GuruFocus considers Harley-Davidson to be Fairly Valued.
Key valuation signals for HOG:
Retained Earnings: $3,721 Mil
GF Value™: $27.95 vs. price of $25.83 (7.6% 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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