Harley-Davidson Inc

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HOG : NYSE : Consumer Goods
$47.96 -0.39 | -0.81%
Today's Range: 47.95 - 48.67
Avg. Daily Volume: 2568200.0
09/21/17 - 4:02 PM ET

Financial Analysis

HARLEY-DAVIDSON INC's gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, however the growth has outpaced the average competitor within the industry. HARLEY-DAVIDSON INC has average liquidity. Currently, the Quick Ratio is 1.11 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.24% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)1765.171861.08
EBITDA ($mil)498.67506.15
EBIT ($mil)445.99455.22
Net Income ($mil)258.87280.43

Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)1051.7947.82
Total Assets ($mil)10487.7710348.44
Total Debt ($mil)7172.357061.32
Equity ($mil)2046.172021.01

Profitability Q2 FY17 Q2 FY16
Gross Profit Margin46.2545.64
EBITDA Margin28.2527.19
Operating Margin25.2724.46
Sales Turnover0.540.59
Return on Assets5.786.89
Return on Equity29.6335.3
Debt Q2 FY17 Q2 FY16
Current Ratio1.271.73
Interest Expense52.1349.99
Interest Coverage8.559.11

Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)170.6178.8
Div / share0.370.35
Book value / share11.9911.3
Institutional Own % n/a n/a
Avg Daily Volume2617516.02136761.0


BUY. The current P/E ratio indicates a premium compared to an average of 11.59 for the Automobiles industry and a significant discount compared to the S&P 500 average of 24.88. To use another comparison, its price-to-book ratio of 4.08 indicates a premium versus the S&P 500 average of 3.10 and a discount versus the industry average of 4.15. The current price-to-sales ratio is well below the S&P 500 average and is also below the industry average, indicating a discount.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
HOG 14.22 Peers 11.59   HOG 6.27 Peers 5.93

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

HOG is trading at a premium to its peers.


Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

HOG is trading at a valuation on par to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
HOG 13.04 Peers 11.00   HOG NM Peers 1.84

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

HOG is trading at a significant premium to its peers.


Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

HOG's negative PEG ratio makes this valuation measure meaningless.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
HOG 4.08 Peers 4.15   HOG -9.95 Peers 19.95

Average. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

HOG is trading at a valuation on par with its peers.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, HOG is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
HOG 1.48 Peers 1.55   HOG -7.48 Peers 14.91

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

HOG is trading at a valuation on par with its industry on this measurement.


Lower. A sales growth rate that trails the industry implies that a company is losing market share.

HOG significantly trails its peers on the basis of sales growth



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