Harley-Davidson, Inc. Financial Ratios — HOG Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	25.9	25.07	26.37	28.54	31.68	36.82	27.72	29.38	23.68	0.07	30.4	27.17	22.95	14.19	10.74
Return on Assets (%)	6.27	6.62	7.9	8.92	7.71	6.97	5.25	5.15	4	0.01	5.64	6.58	5.98	3.79	3.4
Return on Capital (%)	7.83	8.27	9.59	10.16	8.88	8.17	6.16	6.1	4.79	- -	6.66	7.94	7.31	4.77	4.54
Return on Invested Capital (%)	7.08	8.18	9.52	10.08	8.8	8.09	6.05	6.11	4.56	- -	6.48	7.48	6.16	3.49	3.39
Gross Margin (%)	37.2	38.74	39.64	40.48	41.32	39.97	38.86	37.99	35.84	33.84	35.61	37.08	37.38	34.88	30.02
EBITDA Margin (%)	19.02	20.95	22.39	23.45	22.58	20.94	19.55	17.11	14.7	4.82	18.53	18.44	16.06	11.13	12.5
Operating Margin (%)	16.91	18.43	19.55	20.57	19.28	17.45	15.62	14.11	10.97	3.45	15.43	15.8	13.35	8.03	8.64
Incremental Operating Margin (%)	38.42	48.62	39.16	38.73	53.75	- -	47.02	- -	61.66	34.29	53.34	20.5	- -	55.79	4.2
Pretax Margin (%)	14.92	17.23	18.89	20.6	19.18	17.08	15.3	12.01	10.4	-0.39	15.35	16.18	14.85	9.97	10.26
Profit Margin (%)	11.28	11.18	12.44	13.56	12.55	11.54	9.24	9.3	7.9	0.03	12.18	12.88	12.11	8.78	7.57
Net Income to Common Margin (%)	11.28	11.18	12.44	13.56	12.55	11.54	9.24	9.3	7.9	0.03	12.18	12.88	12.11	8.78	7.57
Effective Tax Rate (%)	30.86	35.11	34.13	34.19	34.6	32.4	39.6	22.6	24	- -	20.65	20.62	19.82	13.92	28.25
Dvd Payout Ratio (%)	20.25	22.71	25.57	28.21	33.14	36.45	48.27	46.25	56	5,245.53	14.22	12.64	14.09	20.97	27.03
Sustainable Growth Rate (%)	20.65	19.38	19.63	20.49	21.18	23.4	14.34	15.79	10.42	-3.79	26.08	23.74	19.72	11.21	7.84

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	5,723	5,103	5,259	5,505	6,872	6,808	6,988	7,599	7,508	9,034	6,937	6,955	7,196	7,026	3,054
ST Debt	1,879	732	1,842	1,743	2,040	2,141	2,401	2,712	2,339	3,071	2,311	2,471	2,154	2,510	1,335
LT Debt	3,844	4,371	3,417	3,762	4,832	4,667	4,587	4,888	5,169	5,963	4,626	4,484	5,042	4,516	1,719
Total Debt/EBITDA	5.66	4.36	3.98	3.77	5.08	5.42	6.33	7.77	9.53	46.23	7.02	6.55	7.68	12.17	5.46
Net Debt/EBITDA	4.15	3.45	3.17	3.15	4.54	4.82	5.71	6.54	8.39	29.32	5.07	5.16	5.97	9.3	-0.22
Total Debt/EBIT	6.89	5.1	4.56	4.3	5.95	6.51	7.92	10.65	13.51	933.36	8.42	7.65	9.24	16.87	7.9
Net Debt/EBIT	5.06	4.03	3.63	3.59	5.32	5.78	7.14	8.96	11.9	591.96	6.09	6.03	7.18	12.89	-0.32
EBITDA to Interest Expense	22.32	25.4	29.18	350.86	111.72	42.33	35.62	31.68	25.36	6.28	31.92	33.98	30.44	18.78	16.71
EBITDA-CapEx/Interest Expense	22.32	25.4	29.18	350.86	111.72	42.33	35.62	31.68	25.36	6.28	31.92	33.98	30.44	18.78	16.71
EBIT to Interest Expense	19.84	22.35	25.49	307.78	95.38	35.26	28.45	26.13	18.92	4.49	26.59	29.11	25.31	13.55	11.56
Interest Expense	45	46	45	4	12	30	31	31	31	31	31	31	31	31	33
Common Equity/Total Assets	25.02	27.89	32	30.53	18.45	19.41	18.49	16.63	17.13	14.34	23.1	25.26	26.79	26.65	39.04
Long-Term Debt/Equity (%)	158.82	170.88	113.53	129.29	262.68	243.05	248.73	275.52	286.55	346.13	181.16	154.25	155.04	142.98	54.45
Long-Term Debt/Capital (%)	47.21	57.05	41.32	44.71	55.47	53.47	51.94	52.14	55.51	55.44	48.74	45.47	48.26	44.34	27.68
Long-Term Debt/Total Assets (%)	39.73	47.66	36.33	39.48	48.46	47.19	46	45.83	49.1	49.65	41.86	39.02	41.53	38.01	21.37
Total Debt/Equity (%)	236.45	199.51	174.75	189.21	373.56	354.53	378.9	428.38	416.21	524.38	271.68	239.28	221.26	222.46	96.73
Total Debt/Capital (%)	70.28	66.61	63.6	65.42	78.88	78	79.12	81.07	80.63	83.98	73.1	70.53	68.87	68.99	49.17
Total Debt/Total Assets (%)	59.15	55.64	55.92	57.77	68.91	68.83	70.07	71.25	71.32	75.22	62.77	60.52	59.27	59.14	37.96
Net Debt to Equity	173.36	157.74	139.31	158.04	334.3	314.95	341.62	360.52	366.47	332.58	196.4	188.49	171.93	170.04	-3.95
Net Debt/Capital (%)	63.42	61.2	58.21	61.25	76.97	75.9	77.36	78.29	77.97	76.4	65.85	65	62.73	62.48	-4
EBITDA	1,010	1,169	1,321	1,460	1,354	1,256	1,104	978	788	195	989	1,061	937	577	559
EBITDA-CapEx	1,010	1,169	1,321	1,460	1,354	1,256	1,104	978	788	195	989	1,061	937	577	559
Operating Income (Loss)	898	1,029	1,154	1,281	1,156	1,046	882	807	588	140	823	909	779	417	387

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.62	0.8	0.46	0.4	0.28	0.27	0.22	0.34	0.26	0.82	0.56	0.41	0.45	0.45	1.16
Current Ratio	1.68	2.7	1.59	1.65	1.45	1.35	1.23	1.25	1.31	1.47	1.36	1.34	1.53	1.4	2.1
Quick Ratio	1.36	2.11	1.28	1.31	1.12	1.09	0.99	1.04	1.05	1.23	1.05	0.98	1.16	1.08	1.72
CFO/Avg Current Liab	0.38	0.38	0.49	0.47	0.43	0.42	0.33	0.36	0.26	0.33	0.27	0.16	0.22	0.31	0.18
Common Equity/Total Assets	25.02	27.89	32	30.53	18.45	19.41	18.49	16.63	17.13	14.34	23.1	25.26	26.79	26.65	39.04
Long-Term Debt/Equity (%)	158.82	170.88	113.53	129.29	262.68	243.05	248.73	275.52	286.55	346.13	181.16	154.25	155.04	142.98	54.45
Long-Term Debt/Capital (%)	47.21	57.05	41.32	44.71	55.47	53.47	51.94	52.14	55.51	55.44	48.74	45.47	48.26	44.34	27.68
Long-Term Debt/Total Assets (%)	39.73	47.66	36.33	39.48	48.46	47.19	46	45.83	49.1	49.65	41.86	39.02	41.53	38.01	21.37
Total Debt/Equity (%)	236.45	199.51	174.75	189.21	373.56	354.53	378.9	428.38	416.21	524.38	271.68	239.28	221.26	222.46	96.73
Total Debt/Capital (%)	70.28	66.61	63.6	65.42	78.88	78	79.12	81.07	80.63	83.98	73.1	70.53	68.87	68.99	49.17
Total Debt/Total Assets (%)	59.15	55.64	55.92	57.77	68.91	68.83	70.07	71.25	71.32	75.22	62.77	60.52	59.27	59.14	37.96
CFO/Total Liabilities	12.2	12.12	15.28	17.32	13.53	14.73	12.36	13.56	9.95	11.45	11.48	6.39	8.49	12.2	11.64
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.82	3.44	3.83	3.81	3.02	2.04	1.81	1.52	1.5	1.04	1.51	1.62	1.57	1.37	2.09

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	3.2	2.82	2.94	2.97	2.69	2.57	2.35	2.31	2.12	1.94	3.23	3.13	2.64	2.23	2.58
Days Sales Outstanding	114.15	129.26	123.98	123.03	135.92	141.9	155.02	158.23	171.98	188.36	112.87	116.78	138.08	163.5	141.71
Inventory Turnover	8.96	8.42	8.71	8.49	6.8	6.63	6.65	6.48	5.93	4.76	5.56	4.35	3.89	4.03	4.24
Days Inventory Outstanding	40.73	43.33	41.92	43	53.68	55.05	54.87	56.34	61.52	76.69	65.67	83.85	93.92	90.54	86.09
Accounts Payable Turnover	14.25	13.23	14.45	17.09	16.9	14.92	15.08	13.91	12.04	8.89	10.89	10.25	9.99	9.86	9.06
Accounts Payable Turnover Days	25.62	27.59	25.26	21.36	21.59	24.46	24.2	26.25	30.31	41.05	33.52	35.61	36.52	37.02	40.3
Cash Conversion Cycle	129.26	145	140.64	144.67	168.01	172.49	185.7	188.32	203.19	223.99	145.02	165.02	195.48	217.02	187.5
Inventory to Cash Days	73.42	85.94	82.06	80.04	82.25	86.85	100.15	101.89	110.46	111.67	47.2	32.92	44.15	72.96	55.63
Inventories	418	394	425	449	586	500	538	556	604	523	713	951	930	746	731
Raw Materials	235	234	268	268	307	263	301	313	380	296	451	518	540	464	436
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	226	206	205	230	328	285	290	302	280	281	346	549	515	411	434
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	8,961	11,040	15,230	13,965	8,385	10,265	8,552	5,448	5,670	5,613	5,788	6,068	5,022	3,745	2,288
- Cash & Cash Equivalents	1,527	1,068	1,067	907	722	760	688	1,204	834	3,257	1,875	1,433	1,534	1,590	3,092
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	-1	-8	16
+ Total Debt	5,723	5,103	5,259	5,505	6,872	6,808	6,988	7,599	7,508	9,034	6,937	6,955	7,196	7,026	3,054
Enterprise Value	13,003	14,939	19,324	18,505	14,490	16,307	14,853	11,833	12,345	11,389	10,850	11,593	10,683	9,174	2,266
Total Capital	8,143	7,660	8,269	8,414	8,712	8,728	8,832	9,373	9,312	10,757	9,490	9,862	10,448	10,185	6,211
Total Debt/Capital (%)	70.28	66.61	63.6	65.42	78.88	78	79.12	81.07	80.63	83.98	73.1	70.53	68.87	68.99	49.17
Total Debt / EV	0.44	0.34	0.27	0.3	0.47	0.42	0.47	0.64	0.61	0.79	0.64	0.6	0.67	0.77	1.35
EV/Sales	2.45	2.68	3.28	2.97	2.42	2.72	2.63	2.07	2.3	2.81	2.03	2.01	1.83	1.77	0.51
EV/EBITDA	12.87	12.78	14.63	12.67	10.7	12.98	13.45	12.09	15.66	58.29	10.97	10.92	11.4	15.89	4.05
EV/EBIT	15.67	14.94	16.75	14.45	12.54	15.59	16.84	16.58	22.22	1,176.71	13.18	12.75	13.71	22.02	5.86
EV/Cash Flow to Firm	14.19	17.97	19.19	16.1	13.08	13.65	14.51	9.62	13.84	- -	10.85	20.22	13.7	8.41	3.82
EV/Free Cash Flow to Firm	14.19	17.97	19.19	16.1	13.08	13.65	14.51	9.62	13.84	- -	10.85	20.22	13.7	8.41	3.82
Diluted Market Cap	9,131	11,193	15,515	14,349	9,245	10,532	8,799	5,681	5,869	5,648	5,841	6,213	5,346	3,986	2,485
Diluted Enterprise Value	13,174	15,092	19,608	18,890	15,350	16,574	15,099	12,067	12,543	11,425	10,903	11,738	11,007	9,415	2,463
EV per Share	56.4	66.07	87.85	87.34	78.44	92.68	88.36	74.11	80.97	74.47	70.65	79.48	78.38	73.82	20.29
TTM Sales	5,312	5,581	5,900	6,229	5,995	5,996	5,647	5,717	5,362	4,054	5,336	5,755	5,836	5,187	4,473
TTM EBITDA	1,010	1,169	1,321	1,460	1,354	1,256	1,104	978	788	195	989	1,061	937	577	559
TTM Operating Income	898	1,029	1,154	1,281	1,156	1,046	882	807	588	140	823	909	779	417	387
TTM Cash Flow to Firm	917	831	1,007	1,149	1,108	1,194	1,024	1,230	892	- -	1,000	573	780	1,090	593
TTM Free Cash Flow to Firm	917	831	1,007	1,149	1,108	1,194	1,024	1,230	892	- -	1,000	573	780	1,090	593

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	10.31	13.97	15.88	12.51	8.4	8.97	8.75	4.71	6.76	4.8	5.99	11.33	7.08	3.75	4.37
EV/EBIT	15.67	14.94	16.75	14.45	12.54	15.59	16.84	16.58	22.22	1,176.71	13.18	12.75	13.71	22.02	5.86
Enterprise Value	13,003	14,939	19,324	18,505	14,490	16,307	14,853	11,833	12,345	11,389	10,850	11,593	10,683	9,174	2,266
Low Price	31.5	37.84	48.4	54.22	45	36.36	44.52	31.36	30.17	14.31	31.2	29.8	25.43	29.46	20.4
EV/Sales	2.45	2.68	3.28	2.97	2.42	2.72	2.63	2.07	2.3	2.81	2.03	2.01	1.83	1.77	0.51
EV/EBITDA	12.87	12.78	14.63	12.67	10.7	12.98	13.45	12.09	15.66	58.29	10.97	10.92	11.4	15.89	4.05
Price/Earnings	15.11	17.77	20.99	16.88	12.23	15.14	16.77	10.64	13.79	4,331.22	8.91	8.3	7.42	8.7	7.26
Price/Earnings Average	14.91	16.73	17.6	16.97	15.18	12.89	17.44	13.44	13.37	3,342.69	9.54	7.7	7.27	10.29	9.03
Price/Earnings High	18.22	19.77	21.14	18.98	17.94	16.19	20.9	17.61	15.35	4,935.47	12.31	9.73	10.43	12.75	11.08
Price/Earnings Low	12.24	13.77	14.67	13.89	12.13	9.44	14.68	9.78	11.18	1,688.82	7.38	5.95	5.12	8.5	7.23
Price/Book Value	3.7	4.32	5.06	4.8	4.56	5.35	4.64	3.07	3.14	3.26	2.27	2.09	1.54	1.18	0.73
Price/Book Value Average	3.65	4.06	4.24	4.83	5.66	4.55	4.82	3.88	3.05	2.51	2.43	1.94	1.51	1.4	0.91
Price/Book Value High	4.47	4.8	5.1	5.4	6.69	5.71	5.78	5.09	3.5	3.71	3.13	2.45	2.17	1.73	1.11
Price/Book Value Low	3	3.35	3.54	3.95	4.52	3.33	4.06	2.82	2.55	1.27	1.88	1.5	1.07	1.16	0.73
Price/Tangible Book Value	3.75	4.37	5.11	4.85	4.7	5.5	4.8	3.18	3.28	3.41	2.33	2.14	1.58	1.21	0.74
Price/Tangible Book Value Average	3.7	4.11	4.29	4.87	5.83	4.68	4.99	4.02	3.18	2.63	2.49	1.98	1.55	1.43	0.92
Price/Tangible Book Value High	4.52	4.86	5.15	5.45	6.89	5.88	5.98	5.27	3.65	3.88	3.22	2.51	2.22	1.77	1.13
Price/Tangible Book Value Low	3.04	3.38	3.57	3.99	4.66	3.43	4.2	2.92	2.66	1.33	1.93	1.53	1.09	1.18	0.74
Price/Sales	1.7	1.99	2.61	2.29	1.53	1.75	1.55	0.99	1.09	1.39	1.09	1.07	0.9	0.76	0.55
Price/Sales Average	1.68	1.87	2.19	2.3	1.91	1.49	1.61	1.25	1.06	1.07	1.16	0.99	0.88	0.9	0.68
Price/Sales High	2.06	2.21	2.63	2.57	2.25	1.87	1.93	1.64	1.21	1.58	1.5	1.25	1.26	1.12	0.84
Price/Sales Low	1.38	1.54	1.83	1.88	1.52	1.09	1.36	0.91	0.88	0.54	0.9	0.77	0.62	0.75	0.55
Price/Cash Flow	10.23	13.84	15.77	12.43	8.36	8.93	8.71	4.69	6.73	4.77	5.94	11.23	6.95	3.72	4.32
Price/Cash Flow Average	10.09	13.03	13.22	12.5	10.38	7.6	9.05	5.92	6.52	3.68	6.35	10.41	6.81	4.4	5.38
Price/Cash Flow High	12.33	15.39	15.88	13.98	12.27	9.54	10.85	7.76	7.49	5.44	8.2	13.15	9.76	5.46	6.6
Price/Cash Flow Low	8.29	10.72	11.02	10.23	8.29	5.56	7.62	4.31	5.46	1.86	4.92	8.04	4.8	3.64	4.31
Price/Free Cash Flow Average	10.18	13.15	13.31	12.58	10.43	7.63	9.1	5.95	6.55	3.7	6.4	10.5	6.94	4.43	5.43
Price/Free Cash Flow High	12.44	15.54	16	14.07	12.33	9.59	10.91	7.8	7.52	5.46	8.27	13.27	9.95	5.49	6.66
Price/Free Cash Flow Low	8.36	10.82	11.1	10.29	8.33	5.59	7.66	4.33	5.48	1.87	4.96	8.11	4.89	3.66	4.35
EV/Sales Average	2.43	2.56	2.86	2.98	2.75	2.46	2.69	2.32	2.27	2.49	2.11	1.94	1.81	1.9	0.63
EV/Sales High	2.8	2.9	3.29	3.25	3.07	2.84	3	2.69	2.42	3	2.45	2.19	2.18	2.1	0.78
EV/Sales Low	2.13	2.23	2.5	2.57	2.4	2.07	2.44	1.99	2.1	1.96	1.85	1.72	1.56	1.75	0.5
EV/EBITDA Average	12.75	12.22	12.77	12.72	12.2	11.77	13.76	13.56	15.45	51.73	11.38	10.51	11.29	17.08	5.05
EV/EBITDA High	14.7	13.84	14.72	13.87	13.59	13.55	15.36	15.75	16.48	62.3	13.21	11.9	13.57	18.91	6.2
EV/EBITDA Low	11.19	10.65	11.16	10.98	10.65	9.91	12.48	11.64	14.31	40.76	9.97	9.3	9.74	15.75	4.04
EV/EBIT Average	15.53	14.29	14.62	14.5	14.29	14.12	17.22	18.6	21.91	1,044.36	13.67	12.26	13.58	23.67	7.3
EV/EBIT High	17.89	16.18	16.85	15.81	15.92	16.26	19.22	21.59	23.37	1,257.61	15.86	13.89	16.33	26.2	8.97
EV/EBIT Low	13.62	12.45	12.78	12.51	12.48	11.89	15.63	15.97	20.29	822.94	11.97	10.86	11.72	21.82	5.83
Last Price	38.87	48.83	69.24	65.91	45.39	58.34	50.88	34.12	37.19	36.7	37.69	41.6	36.84	30.13	20.49
High Price	46.88	54.32	69.75	74.13	66.58	62.35	63.4	56.5	41.4	41.82	52.06	48.72	51.77	44.16	31.25
Enterprise Value Average	12,885	14,293	16,863	18,580	16,515	14,777	15,192	13,269	12,173	10,108	11,254	11,151	10,582	9,860	2,823
Enterprise Value High	14,850	16,181	19,436	20,247	18,404	17,012	16,957	15,406	12,987	12,172	13,057	12,632	12,719	10,917	3,467
Enterprise Value Low	11,304	12,455	14,740	16,029	14,418	12,440	13,784	11,392	11,274	7,965	9,853	9,872	9,128	9,091	2,256

Shares Outstanding	231	226	220	212	185	176	168	160	152	153	154	146	136	124	112
Diluted Weighted Avg Shares	235	229	224	218	204	181	173	167	158	154	155	149	145	132	121
Basic Weighted Avg Shares	233	227	222	216	203	180	172	166	157	153	154	148	142	131	120
Revenue per Share	22.81	24.57	26.52	28.8	29.58	33.37	32.83	34.51	34.14	26.47	34.71	38.88	40.99	39.46	37.25
EBITDA per Share	4.34	5.15	5.94	6.75	6.68	6.99	6.42	5.91	5.02	1.28	6.43	7.17	6.58	4.39	4.66
Operating Income per Share	3.86	4.53	5.19	5.92	5.7	5.82	5.13	4.87	3.74	0.91	5.36	6.14	5.47	3.17	3.22
Basic EPS, GAAP	2.57	2.75	3.3	3.9	3.71	3.85	3.03	3.21	2.7	0.01	4.23	5.01	4.96	3.46	2.82
Basic EPS from Cont Ops	2.35	2.75	3.3	3.9	3.71	3.85	3.03	3.21	2.7	0.01	4.23	4.99	4.88	3.39	2.74
Diluted EPS, GAAP	2.55	2.72	3.28	3.88	3.69	3.83	3.02	3.19	2.68	0.01	4.19	4.96	4.87	3.44	2.79
Diluted EPS from Cont Ops	2.33	2.72	3.28	3.88	3.69	3.83	3.02	3.19	2.68	0.01	4.19	4.95	4.79	3.37	2.71
Dividend per Share	0.48	0.62	0.84	1.1	1.23	1.4	1.46	1.48	1.51	0.44	0.6	0.63	0.68	0.69	0.72
Cash Flow per Share	3.8	3.53	4.39	5.3	5.43	6.54	5.84	7.28	5.53	7.69	6.35	3.71	5.3	8.09	4.74
Free Cash Flow per Basic Share	3.8	3.53	4.39	5.3	5.43	6.54	5.84	7.28	5.53	7.69	6.35	3.71	5.3	8.09	4.74
Cash & Equivalents per Share	7.29	5.32	5.3	4.55	4.15	4.35	4.09	7.6	5.47	21.3	12.21	9.83	11.25	12.79	27.69
Book Value per Share	10.5	11.31	13.68	13.73	9.96	10.91	10.97	11.11	11.83	11.27	16.63	19.91	23.86	25.48	28.13
Tangible Book Value per Share	10.37	11.18	13.54	13.6	9.67	10.61	10.6	10.73	11.34	10.77	16.17	19.44	23.35	24.98	27.55

Harley-Davidson, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)