Harley-Davidson annual debt-to-equity ratio
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2025
Harley-Davidson Debt-to-Equity Ratio Growth & History (HOG)
Harley-Davidson's debt-to-equity ratio was 0.97 for fiscal 2025.
View full Harley-Davidson company overviewHarley-Davidson annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.97 | −1.25 | −56.19% |
| 2024 | 2024-12-31 | 2.22 | 0.01 | +0.32% |
| 2023 | 2023-12-31 | 2.21 | −0.18 | −7.65% |
| 2022 | 2022-12-31 | 2.40 | −0.33 | −12.11% |
| 2021 | 2021-12-31 | 2.73 | −2.54 | −48.20% |
| 2020 | 2020-12-31 | 5.26 | 1.09 | +26.04% |
| 2019 | 2019-12-31 | 4.17 | −0.12 | −2.82% |
| 2018 | 2018-12-31 | 4.30 | 0.50 | +13.03% |
| 2017 | 2017-12-31 | 3.80 | 0.24 | +6.83% |
| 2016 | 2016-12-31 | 3.56 | −0.18 | −4.78% |
| 2015 | 2015-12-31 | 3.74 | 1.84 | +97.43% |
| 2014 | 2014-12-31 | 1.89 | 0.14 | +8.27% |
| 2013 | 2013-12-31 | 1.75 | −0.25 | −12.41% |
| 2012 | 2012-12-31 | 2.00 | −0.37 | −15.62% |
| 2011 | 2011-12-31 | 2.36 | 1.01 | +74.10% |
| 2010 | 2010-12-31 | 1.36 | −1.32 | −49.20% |
| 2009 | 2009-12-31 | 2.67 | 0.82 | +44.48% |
| 2008 | 2008-12-31 | 1.85 | — | — |
Harley-Davidson quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.74 | −1.34 | −64.27% |
| Q1 2026 | 2026-03-31 | 0.72 | −1.59 | −68.91% |
| Q4 2025 | 2025-12-31 | 0.97 | −1.25 | −56.19% |
| Q3 2025 | 2025-09-30 | 1.46 | −0.83 | −36.20% |
| Q2 2025 | 2025-06-30 | 2.08 | −0.10 | −4.68% |
| Q1 2025 | 2025-03-31 | 2.31 | 0.13 | +6.20% |
| Q4 2024 | 2024-12-31 | 2.22 | 0.01 | +0.32% |
| Q3 2024 | 2024-09-30 | 2.29 | 0.06 | +2.87% |
| Q2 2024 | 2024-06-30 | 2.19 | −0.05 | −2.12% |
| Q1 2024 | 2024-03-31 | 2.17 | −0.16 | −6.74% |
| Q4 2023 | 2023-12-31 | 2.21 | −0.18 | −7.65% |
| Q3 2023 | 2023-09-30 | 2.22 | −0.31 | −12.39% |
| Q2 2023 | 2023-06-30 | 2.23 | −0.74 | −24.90% |
| Q1 2023 | 2023-03-31 | 2.33 | −0.32 | −12.12% |
| Q4 2022 | 2022-12-31 | 2.40 | −0.33 | −12.11% |
| Q3 2022 | 2022-09-25 | 2.54 | −0.59 | −18.85% |
| Q2 2022 | 2022-06-26 | 2.97 | −0.29 | −9.02% |
| Q1 2022 | 2022-03-27 | 2.65 | −1.37 | −33.98% |
| Q4 2021 | 2021-12-31 | 2.73 | −2.54 | −48.20% |
| Q3 2021 | 2021-09-26 | 3.13 | −2.27 | −42.07% |
| Q2 2021 | 2021-06-27 | 3.27 | −3.06 | −48.36% |
| Q1 2021 | 2021-03-28 | 4.02 | −0.83 | −17.07% |
| Q4 2020 | 2020-12-31 | 5.26 | 1.09 | +26.04% |
| Q3 2020 | 2020-09-27 | 5.40 | 1.34 | +32.96% |
| Q2 2020 | 2020-06-28 | 6.33 | 2.40 | +61.05% |
| Q1 2020 | 2020-03-29 | 4.85 | 0.75 | +18.24% |
| Q4 2019 | 2019-12-31 | 4.17 | −0.12 | −2.82% |
| Q3 2019 | 2019-09-29 | 4.06 | 0.77 | +23.22% |
| Q2 2019 | 2019-06-30 | 3.93 | 0.63 | +18.95% |
| Q1 2019 | 2019-03-31 | 4.10 | 0.58 | +16.55% |
| Q4 2018 | 2018-12-31 | 4.30 | 0.50 | +13.03% |
| Q3 2018 | 2018-09-30 | 3.30 | −0.46 | −12.23% |
| Q2 2018 | 2018-07-01 | 3.30 | −0.20 | −5.75% |
| Q1 2018 | 2018-04-01 | 3.52 | 0.02 | +0.55% |
| Q4 2017 | 2017-12-31 | 3.80 | 0.24 | +6.83% |
| Q3 2017 | 2017-09-24 | 3.76 | 0.28 | +8.03% |
| Q2 2017 | 2017-06-25 | 3.51 | 0.01 | +0.32% |
| Q1 2017 | 2017-03-26 | 3.50 | −0.26 | −6.94% |
| Q4 2016 | 2016-12-31 | 3.56 | −0.18 | −4.78% |
| Q3 2016 | 2016-09-25 | 3.48 | 0.77 | +28.65% |
| Q2 2016 | 2016-06-26 | 3.49 | 1.44 | +70.09% |
| Q1 2016 | 2016-03-27 | 3.76 | 1.74 | +86.59% |
| Q4 2015 | 2015-12-31 | 3.74 | 1.84 | +97.43% |
| Q3 2015 | 2015-09-27 | 2.70 | 1.04 | +63.02% |
| Q2 2015 | 2015-06-28 | 2.05 | 0.46 | +29.03% |
| Q1 2015 | 2015-03-29 | 2.01 | 0.40 | +24.91% |
| Q4 2014 | 2014-12-31 | 1.89 | 0.14 | +8.27% |
| Q3 2014 | 2014-09-28 | 1.66 | −0.14 | −7.85% |
| Q2 2014 | 2014-06-29 | 1.59 | −0.37 | −18.88% |
| Q1 2014 | 2014-03-30 | 1.61 | −0.38 | −19.10% |
| Q4 2013 | 2013-12-31 | 1.75 | −0.25 | −12.41% |
| Q3 2013 | 2013-09-29 | 1.80 | −0.37 | −17.22% |
| Q2 2013 | 2013-06-30 | 1.96 | −0.04 | −1.83% |
| Q1 2013 | 2013-03-31 | 1.99 | −0.17 | −7.85% |
| Q4 2012 | 2012-12-31 | 2.00 | −0.37 | −15.62% |
| Q3 2012 | 2012-09-30 | 2.17 | 0.80 | +57.91% |
| Q2 2012 | 2012-07-01 | 2.00 | 0.58 | +41.05% |
| Q1 2012 | 2012-04-01 | 2.16 | 0.73 | +50.77% |
| Q4 2011 | 2011-12-31 | 2.36 | 1.01 | +74.10% |
| Q3 2011 | 2011-09-25 | 1.38 | −0.27 | −16.38% |
| Q2 2011 | 2011-06-26 | 1.42 | −0.22 | −13.21% |
| Q1 2011 | 2011-03-27 | 1.43 | −0.20 | −12.45% |
| Q4 2010 | 2010-12-31 | 1.36 | −1.32 | −49.20% |
| Q3 2010 | 2010-09-26 | 1.65 | −0.61 | −27.11% |
| Q2 2010 | 2010-06-27 | 1.63 | −0.47 | −22.21% |
| Q1 2010 | 2010-03-28 | 1.64 | — | — |
| Q4 2009 | 2009-12-31 | 2.67 | 0.82 | +44.48% |
| Q3 2009 | 2009-09-27 | 2.26 | — | — |
| Q2 2009 | 2009-06-28 | 2.10 | — | — |
| Q4 2008 | 2008-12-31 | 1.85 | — | — |
Harley-Davidson debt-to-equity ratio trends
Over the last five fiscal years, Harley-Davidson's debt-to-equity ratio decreased from 5.26 to 0.97, a change of −4.29. The latest reported quarter, Q2 2026, shows 0.74.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Harley-Davidson source filings ↗