Harley-Davidson annual operating margin
2007
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2024
2025
Harley-Davidson Operating Margin Growth & History (HOG)
Harley-Davidson's operating margin was 10.73% for fiscal 2025.
View full Harley-Davidson company overviewHarley-Davidson annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 10.73% | +0.68 pp |
| 2024 | 2024-12-31 | 10.04% | −5.91 pp |
| 2023 | 2023-12-31 | 15.96% | −2.47 pp |
| 2022 | 2022-12-31 | 18.43% | +0.29 pp |
| 2021 | 2021-12-31 | 18.14% | +17.84 pp |
| 2020 | 2020-12-31 | 0.30% | −10.07 pp |
| 2019 | 2019-12-31 | 10.36% | −2.12 pp |
| 2018 | 2018-12-31 | 12.48% | −3.14 pp |
| 2017 | 2017-12-31 | 15.62% | −1.83 pp |
| 2016 | 2016-12-31 | 17.45% | −1.83 pp |
| 2015 | 2015-12-31 | 19.28% | −1.29 pp |
| 2014 | 2014-12-31 | 20.57% | +1.01 pp |
| 2013 | 2013-12-31 | 19.55% | +1.63 pp |
| 2012 | 2012-12-31 | 17.92% | +2.30 pp |
| 2011 | 2011-12-31 | 15.63% | +4.09 pp |
| 2010 | 2010-12-31 | 11.54% | +7.44 pp |
| 2009 | 2009-12-31 | 4.10% | −13.68 pp |
| 2008 | 2008-12-31 | 17.79% | −5.42 pp |
| 2007 | 2007-12-31 | 23.21% | — |
Harley-Davidson quarterly operating margin
Q2.08
Q3.08
Q1.09
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
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Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 6.83% | −3.88 pp |
| Q1 2026 | 2026-03-31 | 2.22% | −12.59 pp |
| Q4 2025 | 2025-12-31 | −92.45% | −47.58 pp |
| Q3 2025 | 2025-09-30 | 43.98% | +31.97 pp |
| Q2 2025 | 2025-06-30 | 10.71% | −7.08 pp |
| Q1 2025 | 2025-03-31 | 14.80% | −2.96 pp |
| Q4 2024 | 2024-12-31 | −44.87% | −42.25 pp |
| Q3 2024 | 2024-09-30 | 12.01% | −4.03 pp |
| Q2 2024 | 2024-06-30 | 17.79% | −0.58 pp |
| Q1 2024 | 2024-03-31 | 17.77% | −5.84 pp |
| Q4 2023 | 2023-12-31 | −2.62% | −3.02 pp |
| Q3 2023 | 2023-09-30 | 16.04% | −7.54 pp |
| Q2 2023 | 2023-06-30 | 18.37% | −3.55 pp |
| Q1 2023 | 2023-03-31 | 23.61% | +1.41 pp |
| Q4 2022 | 2022-12-31 | 0.40% | +1.57 pp |
| Q3 2022 | 2022-09-25 | 23.57% | +5.98 pp |
| Q2 2022 | 2022-06-26 | 21.92% | +0.86 pp |
| Q1 2022 | 2022-03-27 | 22.19% | −2.14 pp |
| Q4 2021 | 2021-12-31 | −1.17% | −13.00 pp |
| Q3 2021 | 2021-09-26 | 17.60% | +31.01 pp |
| Q2 2021 | 2021-06-27 | 21.06% | +12.77 pp |
| Q1 2021 | 2021-03-28 | 24.34% | +23.18 pp |
| Q3 2020 | 2020-09-27 | 11.83% | +2.41 pp |
| Q2 2020 | 2020-06-28 | −13.42% | −29.11 pp |
| Q1 2020 | 2020-03-29 | 8.28% | −3.79 pp |
| Q4 2019 | 2019-12-31 | 1.16% | +0.83 pp |
| Q3 2019 | 2019-09-29 | 9.42% | −1.94 pp |
| Q2 2019 | 2019-06-30 | 15.70% | −3.21 pp |
| Q1 2019 | 2019-03-31 | 12.07% | −3.26 pp |
| Q4 2018 | 2018-12-31 | 0.33% | −7.75 pp |
| Q3 2018 | 2018-09-30 | 11.36% | +3.16 pp |
| Q2 2018 | 2018-07-01 | 18.91% | −3.71 pp |
| Q1 2018 | 2018-04-01 | 15.33% | −3.92 pp |
| Q4 2017 | 2017-12-31 | 8.07% | +2.06 pp |
| Q3 2017 | 2017-09-24 | 8.20% | −5.79 pp |
| Q2 2017 | 2017-06-25 | 22.62% | +0.47 pp |
| Q1 2017 | 2017-03-26 | 19.25% | −2.97 pp |
| Q4 2016 | 2016-12-31 | 6.01% | +0.32 pp |
| Q3 2016 | 2016-09-25 | 13.99% | −2.39 pp |
| Q2 2016 | 2016-06-26 | 22.16% | −3.20 pp |
| Q1 2016 | 2016-03-27 | 22.22% | −2.30 pp |
| Q4 2015 | 2015-12-31 | 5.69% | −2.50 pp |
| Q3 2015 | 2015-09-27 | 16.38% | −0.83 pp |
| Q2 2015 | 2015-06-28 | 25.35% | −2.02 pp |
| Q1 2015 | 2015-03-29 | 24.51% | +0.71 pp |
| Q4 2014 | 2014-12-31 | 8.19% | −2.06 pp |
| Q3 2014 | 2014-09-28 | 17.22% | −1.50 pp |
| Q2 2014 | 2014-06-29 | 27.38% | +3.31 pp |
| Q1 2014 | 2014-03-30 | 23.80% | +1.64 pp |
| Q4 2013 | 2013-12-31 | 10.25% | +0.33 pp |
| Q3 2013 | 2013-09-29 | 18.72% | +1.36 pp |
| Q2 2013 | 2013-06-30 | 24.07% | +1.43 pp |
| Q1 2013 | 2013-03-31 | 22.17% | +2.90 pp |
| Q4 2012 | 2012-12-31 | 9.92% | +2.11 pp |
| Q3 2012 | 2012-09-30 | 17.36% | −0.00 pp |
| Q2 2012 | 2012-07-01 | 22.64% | +2.58 pp |
| Q1 2012 | 2012-04-01 | 19.27% | +3.51 pp |
| Q4 2011 | 2011-12-31 | 7.80% | +4.41 pp |
| Q3 2011 | 2011-09-25 | 17.37% | +5.28 pp |
| Q2 2011 | 2011-06-26 | 20.05% | +3.34 pp |
| Q1 2011 | 2011-03-27 | 15.76% | +3.10 pp |
| Q4 2010 | 2010-12-31 | 3.39% | +29.01 pp |
| Q3 2010 | 2010-09-26 | 12.09% | +4.14 pp |
| Q2 2010 | 2010-06-27 | 16.71% | +10.07 pp |
| Q1 2010 | 2010-03-28 | 12.66% | −4.86 pp |
| Q4 2009 | 2009-12-31 | −25.62% | −44.45 pp |
| Q3 2009 | 2009-09-27 | 7.96% | −14.04 pp |
| Q2 2009 | 2009-06-28 | 6.64% | — |
| Q1 2009 | 2009-03-29 | 17.51% | — |
| Q3 2008 | 2008-09-28 | 18.84% | — |
| Q2 2008 | 2008-06-29 | 21.99% | — |
Harley-Davidson operating margin trends
Over the last five reported fiscal years, Harley-Davidson's operating margin increased from 0.30% to 10.73%, a change of +10.43 percentage points. The latest reported quarter, Q2 2026, shows 6.83%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Harley-Davidson filings at SEC.gov ↗