Harley-Davidson Inc (HOG) - Net Assets
Based on the latest financial reports, Harley-Davidson Inc (HOG) has net assets worth $3.16 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.04 Billion) and total liabilities ($4.89 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check HOG asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $3.16 Billion |
| % of Total Assets | 39.24% |
| Annual Growth Rate | 17.74% |
| 5-Year Change | 23.64% |
| 10-Year Change | 64.41% |
| Growth Volatility | 76.51 |
Harley-Davidson Inc - Net Assets Trend (1985–2025)
This chart illustrates how Harley-Davidson Inc's net assets have evolved over time, based on quarterly financial data. Also explore Harley-Davidson Inc total assets for the complete picture of this company's asset base.
Annual Net Assets for Harley-Davidson Inc (1985–2025)
The table below shows the annual net assets of Harley-Davidson Inc from 1985 to 2025. For live valuation and market cap data, see HOG market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $3.16 Billion | -0.05% |
| 2024-12-31 | $3.16 Billion | -2.88% |
| 2023-12-31 | $3.25 Billion | +11.89% |
| 2022-12-31 | $2.91 Billion | +13.85% |
| 2021-12-31 | $2.55 Billion | +48.20% |
| 2020-12-31 | $1.72 Billion | -4.50% |
| 2019-12-31 | $1.80 Billion | +1.69% |
| 2018-12-31 | $1.77 Billion | -3.81% |
| 2017-12-31 | $1.84 Billion | -3.95% |
| 2016-12-31 | $1.92 Billion | +4.38% |
| 2015-12-31 | $1.84 Billion | -36.77% |
| 2014-12-31 | $2.91 Billion | -3.33% |
| 2013-12-31 | $3.01 Billion | +17.67% |
| 2012-12-31 | $2.56 Billion | +5.68% |
| 2011-12-31 | $2.42 Billion | +9.67% |
| 2010-12-31 | $2.21 Billion | +4.68% |
| 2009-12-31 | $2.11 Billion | -0.35% |
| 2008-12-31 | $2.12 Billion | -10.94% |
| 2007-12-31 | $2.38 Billion | -13.83% |
| 2006-12-31 | $2.76 Billion | -10.60% |
| 2005-12-31 | $3.08 Billion | -4.19% |
| 2004-12-31 | $3.22 Billion | +8.82% |
| 2003-12-31 | $2.96 Billion | +32.46% |
| 2002-12-31 | $2.23 Billion | +27.14% |
| 2001-12-31 | $1.76 Billion | +24.94% |
| 2000-12-31 | $1.41 Billion | +21.06% |
| 1999-12-31 | $1.16 Billion | +12.74% |
| 1998-12-31 | $1.03 Billion | +24.58% |
| 1997-12-31 | $826.70 Million | +24.75% |
| 1996-12-31 | $662.70 Million | +33.99% |
| 1995-12-31 | $494.60 Million | +14.17% |
| 1994-12-31 | $433.20 Million | +33.33% |
| 1993-12-31 | $324.90 Million | -3.13% |
| 1992-12-31 | $335.40 Million | +40.92% |
| 1991-12-31 | $238.00 Million | +19.72% |
| 1990-12-31 | $198.80 Million | +27.27% |
| 1989-12-31 | $156.20 Million | +28.45% |
| 1988-12-31 | $121.60 Million | +93.32% |
| 1987-12-31 | $62.90 Million | +140.08% |
| 1986-12-31 | $26.20 Million | +469.57% |
| 1985-12-31 | $4.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Harley-Davidson Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 372300800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $3.72 Billion | 118.36% |
| Common Stock | $1.73 Million | 0.05% |
| Other Comprehensive Income | $-257.14 Million | -8.19% |
| Total Equity | $3.14 Billion | 100.00% |
Harley-Davidson Inc Competitors by Market Cap
The table below lists competitors of Harley-Davidson Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
VGP NV
BR:VGP
|
$2.68 Billion |
|
Worthington Industries Inc
NYSE:WOR
|
$2.68 Billion |
|
An Hui Wenergy Co Ltd
SHE:000543
|
$2.68 Billion |
|
Hybio Pharmaceutical
SHE:300199
|
$2.68 Billion |
|
NBCC (India) Limited
NSE:NBCC
|
$2.68 Billion |
|
Amot Investments Ltd
TA:AMOT
|
$2.67 Billion |
|
BeiJing DaHao Technology Co Lt
SHG:603025
|
$2.67 Billion |
|
Sany Heavy Equipment International Holdings Company Limited
F:YXS
|
$2.67 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Harley-Davidson Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,166,047,000 to 3,140,668,000, a change of -25,379,000 (-0.8%).
- Net income of 338,738,000 contributed positively to equity growth.
- Dividend payments of 86,388,000 reduced retained earnings.
- Share repurchases of 353,270,000 reduced equity.
- Other comprehensive income increased equity by 75,569,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $338.74 Million | +10.79% |
| Dividends Paid | $86.39 Million | -2.75% |
| Share Repurchases | $353.27 Million | -11.25% |
| Other Comprehensive Income | $75.57 Million | +2.41% |
| Other Changes | $-28.00K | -0.0% |
| Total Change | $- | -0.80% |
Book Value vs Market Value Analysis
This analysis compares Harley-Davidson Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.95x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 461.22x to 0.95x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $0.05 | $24.48 | x |
| 1986-12-31 | $0.18 | $24.48 | x |
| 1987-12-31 | $0.32 | $24.48 | x |
| 1988-12-31 | $0.49 | $24.48 | x |
| 1989-12-31 | $0.60 | $24.48 | x |
| 1990-12-31 | $0.73 | $24.48 | x |
| 1991-12-31 | $0.84 | $24.48 | x |
| 1992-12-31 | $1.12 | $24.48 | x |
| 1993-12-31 | $1.17 | $24.48 | x |
| 1994-12-31 | $1.42 | $24.48 | x |
| 1995-12-31 | $1.65 | $24.48 | x |
| 1996-12-31 | $2.18 | $24.48 | x |
| 1997-12-31 | $2.71 | $24.48 | x |
| 1998-12-31 | $3.33 | $24.48 | x |
| 1999-12-31 | $3.74 | $24.48 | x |
| 2000-12-31 | $4.57 | $24.48 | x |
| 2001-12-31 | $5.74 | $24.48 | x |
| 2002-12-31 | $7.31 | $24.48 | x |
| 2003-12-31 | $9.72 | $24.48 | x |
| 2004-12-31 | $10.84 | $24.48 | x |
| 2005-12-31 | $10.97 | $24.48 | x |
| 2006-12-31 | $10.39 | $24.48 | x |
| 2007-12-31 | $9.51 | $24.48 | x |
| 2008-12-31 | $9.02 | $24.48 | x |
| 2009-12-31 | $9.03 | $24.48 | x |
| 2010-12-31 | $9.40 | $24.48 | x |
| 2011-12-31 | $10.30 | $24.48 | x |
| 2012-12-31 | $11.16 | $24.48 | x |
| 2013-12-31 | $13.43 | $24.48 | x |
| 2014-12-31 | $13.36 | $24.48 | x |
| 2015-12-31 | $9.03 | $24.48 | x |
| 2016-12-31 | $10.64 | $24.48 | x |
| 2017-12-31 | $10.66 | $24.48 | x |
| 2018-12-31 | $10.65 | $24.48 | x |
| 2019-12-31 | $11.43 | $24.48 | x |
| 2020-12-31 | $11.19 | $24.48 | x |
| 2021-12-31 | $16.47 | $24.48 | x |
| 2022-12-31 | $19.44 | $24.48 | x |
| 2023-12-31 | $22.42 | $24.48 | x |
| 2024-12-31 | $23.93 | $24.48 | x |
| 2025-12-31 | $25.90 | $24.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Harley-Davidson Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.79%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.57%
- • Asset Turnover: 0.56x
- • Equity Multiplier: 2.56x
- Recent ROE (10.79%) is below the historical average (23.46%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 56.52% | 0.90% | 2.52x | 24.80x | $2.14 Million |
| 1986 | 16.41% | 1.46% | 0.90x | 12.49x | $1.68 Million |
| 1987 | 28.14% | 2.58% | 1.80x | 6.06x | $11.41 Million |
| 1988 | 22.37% | 3.59% | 1.89x | 3.30x | $15.04 Million |
| 1989 | 23.18% | 4.58% | 2.09x | 2.43x | $20.58 Million |
| 1990 | 19.27% | 4.43% | 2.12x | 2.05x | $18.42 Million |
| 1991 | 15.55% | 3.94% | 1.98x | 1.99x | $13.20 Million |
| 1992 | 16.04% | 4.87% | 2.12x | 1.56x | $20.26 Million |
| 1993 | -3.66% | -0.98% | 2.09x | 1.80x | $-44.39 Million |
| 1994 | 24.08% | 6.76% | 2.09x | 1.71x | $60.98 Million |
| 1995 | 22.75% | 8.33% | 1.35x | 2.02x | $63.04 Million |
| 1996 | 25.05% | 10.84% | 1.16x | 1.99x | $99.73 Million |
| 1997 | 21.06% | 9.88% | 1.10x | 1.93x | $91.43 Million |
| 1998 | 20.73% | 10.34% | 1.07x | 1.86x | $110.51 Million |
| 1999 | 23.01% | 10.89% | 1.16x | 1.82x | $151.09 Million |
| 2000 | 24.74% | 11.81% | 1.21x | 1.73x | $207.15 Million |
| 2001 | 24.92% | 12.85% | 1.09x | 1.78x | $262.12 Million |
| 2002 | 25.98% | 14.18% | 1.06x | 1.73x | $356.93 Million |
| 2003 | 25.73% | 16.46% | 0.94x | 1.66x | $465.16 Million |
| 2004 | 27.65% | 17.74% | 0.91x | 1.70x | $567.92 Million |
| 2005 | 31.12% | 17.96% | 1.02x | 1.70x | $651.24 Million |
| 2006 | 37.84% | 17.98% | 1.05x | 2.01x | $767.48 Million |
| 2007 | 39.31% | 16.31% | 1.01x | 2.38x | $696.29 Million |
| 2008 | 30.95% | 10.99% | 0.76x | 3.70x | $443.16 Million |
| 2009 | -2.61% | -1.15% | 0.52x | 4.34x | $-265.93 Million |
| 2010 | 6.64% | 3.02% | 0.52x | 4.27x | $-74.14 Million |
| 2011 | 24.75% | 11.28% | 0.55x | 4.00x | $357.09 Million |
| 2012 | 24.39% | 11.18% | 0.61x | 3.59x | $368.16 Million |
| 2013 | 24.39% | 12.44% | 0.63x | 3.13x | $433.04 Million |
| 2014 | 29.03% | 13.56% | 0.65x | 3.28x | $553.68 Million |
| 2015 | 40.89% | 12.55% | 0.60x | 5.42x | $568.24 Million |
| 2016 | 36.05% | 11.54% | 0.61x | 5.15x | $500.15 Million |
| 2017 | 28.29% | 9.24% | 0.57x | 5.41x | $337.33 Million |
| 2018 | 29.96% | 9.30% | 0.54x | 6.01x | $354.06 Million |
| 2019 | 23.48% | 7.90% | 0.51x | 5.84x | $243.24 Million |
| 2020 | 0.08% | 0.03% | 0.34x | 6.97x | $-170.98 Million |
| 2021 | 25.46% | 12.18% | 0.48x | 4.33x | $394.70 Million |
| 2022 | 25.53% | 12.88% | 0.50x | 3.96x | $451.06 Million |
| 2023 | 21.72% | 12.11% | 0.48x | 3.73x | $381.31 Million |
| 2024 | 14.38% | 8.78% | 0.44x | 3.75x | $138.75 Million |
| 2025 | 10.79% | 7.57% | 0.56x | 2.56x | $24.67 Million |
Industry Comparison
This section compares Harley-Davidson Inc's net assets metrics with peer companies in the Recreational Vehicles industry.
Industry Context
- Industry: Recreational Vehicles
- Average net assets among peers: $304,177,505
- Average return on equity (ROE) among peers: 12.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Harley-Davidson Inc (HOG) | $3.16 Billion | 56.52% | 1.55x | $2.68 Billion |
| Brunswick Corporation (BC) | $1.31 Billion | 11.44% | 1.46x | $5.17 Billion |
| BRP Inc. (DOO) | $813.90 Million | 91.34% | 7.32x | $2.03 Billion |
| EZGO Technologies Ltd (EZGO) | $33.54 Million | -19.27% | 0.42x | $27.15 Million |
| Forza X1 Inc (FRZA) | $1.54 Million | -34.59% | 0.45x | $3.15 Million |
| Kandi Technologies Group Inc (KNDI) | $18.43 Million | 26.71% | 2.78x | $60.30 Million |
| LCI Industries (LCII) | $23.70 Million | 7.59% | 1.52x | $2.83 Billion |
| Massimo Group Common Stock (MAMO) | $21.70 Million | 8.12% | 1.53x | $41.64 Million |
| Malibu Boats Inc (MBUU) | $513.57 Million | 21.39% | 0.66x | $478.27 Million |
| MCBC Holdings Inc (MCFT) | $-3.79 Million | 0.00% | 0.00x | $381.72 Million |
About Harley-Davidson Inc
Harley-Davidson, Inc. manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, Grand American touring, standard, sportbike, adventure touring, a… Read more