Harley-Davidson annual free cash flow
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Harley-Davidson Free Cash Flow (FCF) History (HOG)
Harley-Davidson reported $415.2M in free cash flow for fiscal 2025, a decrease of 52.12% from the previous fiscal year, with a free cash flow margin of 11.52%.
View full Harley-Davidson company overviewHarley-Davidson free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $415.2M | −$452.0M | −52.12% | +11.52% |
| 2024 | 2024-12-31 | $867.3M | $319.8M | +58.41% | +20.91% |
| 2023 | 2023-12-31 | $547.5M | $150.7M | +37.98% | +11.21% |
| 2022 | 2022-12-31 | $396.8M | −$458.7M | −53.62% | +8.04% |
| 2021 | 2021-12-31 | $855.5M | −$191.3M | −18.28% | +18.84% |
| 2020 | 2020-12-31 | $1.05B | $360.0M | +52.42% | +32.07% |
| 2019 | 2019-12-31 | $686.8M | −$305.6M | −30.79% | +12.81% |
| 2018 | 2018-12-31 | $992.4M | $193.6M | +24.24% | +17.36% |
| 2017 | 2017-12-31 | $798.8M | −$119.3M | −13.00% | +14.14% |
| 2016 | 2016-12-31 | $918.1M | $77.9M | +9.28% | +15.31% |
| 2015 | 2015-12-31 | $840.1M | −$74.2M | −8.12% | +14.01% |
| 2014 | 2014-12-31 | $914.4M | $145.6M | +18.94% | +14.68% |
| 2013 | 2013-12-31 | $768.8M | $156.3M | +25.52% | +13.03% |
| 2012 | 2012-12-31 | $612.5M | −$83.8M | −12.04% | +10.97% |
| 2011 | 2011-12-31 | $696.3M | −$296.3M | −29.85% | +13.11% |
| 2010 | 2010-12-31 | $992.6M | $500.3M | +101.64% | +20.43% |
| 2009 | 2009-12-31 | $492.3M | $1.33B | — | +10.29% |
| 2008 | 2008-12-31 | −$837.0M | −$1.39B | — | −14.05% |
| 2007 | 2007-12-31 | $556.0M | — | — | +9.05% |
Harley-Davidson quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $155.4M | −$176.9M | −53.23% | +13.96% |
| Q1 2026 | 2026-03-31 | −$259.8M | −$371.4M | — | −24.50% |
| Q4 2025 | 2025-12-31 | $100.4M | $23.4M | +30.36% | +25.72% |
| Q3 2025 | 2025-09-30 | −$129.1M | −$429.5M | — | −11.96% |
| Q2 2025 | 2025-06-30 | $332.4M | −$99.8M | −23.09% | +31.66% |
| Q1 2025 | 2025-03-31 | $111.6M | $53.9M | +93.54% | +10.29% |
| Q4 2024 | 2024-12-31 | $77.0M | $97.4M | — | +17.88% |
| Q3 2024 | 2024-09-30 | $300.4M | $56.6M | +23.19% | +34.09% |
| Q2 2024 | 2024-06-30 | $432.2M | $109.7M | +34.03% | +31.89% |
| Q1 2024 | 2024-03-31 | $57.6M | $56.1M | +3587.84% | +3.89% |
| Q4 2023 | 2023-12-31 | −$20.4M | $72.6M | — | −2.53% |
| Q3 2023 | 2023-09-30 | $243.9M | −$56.7M | −18.87% | +18.69% |
| Q2 2023 | 2023-06-30 | $322.4M | $244.6M | +314.17% | +26.75% |
| Q1 2023 | 2023-03-31 | $1.6M | −$109.8M | −98.60% | +0.10% |
| Q4 2022 | 2022-12-31 | −$93.0M | −$84.4M | — | −10.02% |
| Q3 2022 | 2022-09-25 | $300.6M | $43.2M | +16.80% | +20.92% |
| Q2 2022 | 2022-06-26 | $77.8M | −$384.9M | −83.18% | +6.15% |
| Q1 2022 | 2022-03-27 | $111.3M | −$32.6M | −22.68% | +8.54% |
| Q4 2021 | 2021-12-31 | −$8.6M | −$12.6M | — | −1.37% |
| Q3 2021 | 2021-09-26 | $257.3M | −$242.3M | −48.49% | +22.17% |
| Q2 2021 | 2021-06-27 | $462.8M | −$121.9M | −20.85% | +34.76% |
| Q1 2021 | 2021-03-28 | $144.0M | $185.5M | — | +10.12% |
| Q4 2020 | 2020-12-31 | $4.1M | $44.7M | — | — |
| Q3 2020 | 2020-09-27 | $499.6M | $185.1M | +58.86% | +42.86% |
| Q2 2020 | 2020-06-28 | $584.7M | $169.1M | +40.69% | +67.58% |
| Q1 2020 | 2020-03-29 | −$41.5M | −$38.9M | — | −3.20% |
| Q4 2019 | 2019-12-31 | −$40.7M | −$30.4M | — | −3.79% |
| Q3 2019 | 2019-09-29 | $314.5M | −$21.7M | −6.44% | +24.71% |
| Q2 2019 | 2019-06-30 | $415.6M | −$87.8M | −17.45% | +25.46% |
| Q1 2019 | 2019-03-31 | −$2.6M | −$165.7M | — | −0.19% |
| Q4 2018 | 2018-12-31 | −$10.3M | $26.0M | — | −0.90% |
| Q3 2018 | 2018-09-30 | $336.1M | $58.3M | +21.00% | +25.55% |
| Q2 2018 | 2018-07-01 | $503.4M | $82.1M | +19.49% | +29.38% |
| Q1 2018 | 2018-04-01 | $163.2M | $27.2M | +19.99% | +10.58% |
| Q4 2017 | 2017-12-31 | −$36.3M | −$189.3M | — | −2.95% |
| Q3 2017 | 2017-09-24 | $277.8M | −$138.5M | −33.27% | +24.13% |
| Q2 2017 | 2017-06-25 | $421.3M | $74.6M | +21.53% | +23.87% |
| Q1 2017 | 2017-03-26 | $136.0M | $133.9M | +6313.77% | +9.05% |
| Q4 2016 | 2016-12-31 | $153.0M | $194.8M | — | +13.78% |
| Q3 2016 | 2016-09-25 | $416.3M | $63.2M | +17.89% | +32.66% |
| Q2 2016 | 2016-06-26 | $346.6M | −$45.5M | −11.60% | +18.63% |
| Q1 2016 | 2016-03-27 | $2.1M | −$134.5M | −98.45% | +0.12% |
| Q4 2015 | 2015-12-31 | −$41.8M | −$109.6M | — | −3.54% |
| Q3 2015 | 2015-09-27 | $353.1M | $2.7M | +0.76% | +26.81% |
| Q2 2015 | 2015-06-28 | $392.1M | $73.8M | +23.17% | +21.49% |
| Q1 2015 | 2015-03-29 | $136.6M | −$41.1M | −23.11% | +8.17% |
| Q4 2014 | 2014-12-31 | $67.8M | $12.4M | +22.48% | +5.65% |
| Q3 2014 | 2014-09-28 | $350.5M | −$39.8M | −10.21% | +26.93% |
| Q2 2014 | 2014-06-29 | $318.4M | −$135.5M | −29.85% | +15.91% |
| Q1 2014 | 2014-03-30 | $177.7M | $308.5M | — | +10.30% |
| Q4 2013 | 2013-12-31 | $55.4M | $60.1M | — | +4.65% |
| Q3 2013 | 2013-09-29 | $390.3M | $1.3M | +0.34% | +29.05% |
| Q2 2013 | 2013-06-30 | $453.8M | $127.4M | +39.02% | +25.29% |
| Q1 2013 | 2013-03-31 | −$130.8M | −$32.5M | — | −8.32% |
| Q4 2012 | 2012-12-31 | −$4.7M | $94.5M | — | −0.40% |
| Q3 2012 | 2012-09-30 | $389.0M | −$2.8M | −0.71% | +31.11% |
| Q2 2012 | 2012-07-01 | $326.5M | −$209.9M | −39.13% | +18.87% |
| Q1 2012 | 2012-04-01 | −$98.3M | $34.3M | — | −6.88% |
| Q4 2011 | 2011-12-31 | −$99.2M | $140,000 | — | −8.38% |
| Q3 2011 | 2011-09-25 | $391.8M | −$19.9M | −4.83% | +28.04% |
| Q2 2011 | 2011-06-26 | $536.3M | $42.3M | +8.57% | +35.62% |
| Q1 2011 | 2011-03-27 | −$132.6M | −$318.9M | — | −10.83% |
| Q4 2010 | 2010-12-31 | −$99.4M | −$117.7M | — | −9.17% |
| Q3 2010 | 2010-09-26 | $411.7M | −$236.3M | −36.47% | +32.67% |
| Q2 2010 | 2010-06-27 | $494.0M | $421.0M | +577.04% | +37.74% |
| Q1 2010 | 2010-03-28 | $186.3M | $433.3M | — | +15.43% |
| Q4 2009 | 2009-12-31 | $18.3M | $254.6M | — | +2.05% |
| Q3 2009 | 2009-09-27 | $648.0M | — | — | +52.03% |
| Q2 2009 | 2009-06-28 | $73.0M | — | — | +5.79% |
| Q1 2009 | 2009-03-29 | −$247.0M | — | — | −17.86% |
| Q3 2008 | 2008-09-28 | −$236.3M | — | — | −16.61% |
Harley-Davidson free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $1.05B to $415.2M, a compound annual decline of 16.88%. Harley-Davidson's latest reported quarter, Q2 2026, generated $155.4M in free cash flow, a decrease of 53.23% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Harley-Davidson filings at SEC.gov ↗