Harley-Davidson (HOG) Gross Margin (2009 - 2026)
Harley-Davidson's (HOG) quarterly Gross Margin came in at 34.23% in Q2 2026, down 833.0% year-over-year from 4.67% in Q2 2025, and up 6.05% quarter-over-quarter from 32.27% in Q1 2026.
Analysis
Harley-Davidson (HOG) Gross Margin (2009 - 2026) Analysis & Trends
Harley-Davidson has disclosed Gross Margin across 18 years of filings, most recently posting 34.23% for Q2 2026.
- In Q2 2026, Gross Margin fell 833.0% year-over-year to 34.23%; the TTM figure through Jun 2026 stood at 33.4% (down 894.0% YoY), while the FY2025 annual figure was 38.71%, down 334.0% from the prior year.
- Gross Margin came in at 34.23% for Q2 2026 at Harley-Davidson, up from 32.27% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 46.24% in Q3 2024 to a low of 15.03% in Q4 2025.
- Average Gross Margin over 5 years is 39.28%, with a median of 40.62% recorded in 2024.
- Year-over-year, Gross Margin jumped 519 bps in 2023 and tumbled 2102 bps in 2025.
- Over 5 years, Gross Margin stood at 40.31% in 2022, then retreated by 1 bps to 40.08% in 2023, then retreated by 10 bps to 36.06% in 2024, then tumbled by 58 bps to 15.03% in 2025, then jumped by 128 bps to 34.23% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 34.23% in Q2 2026, 32.27% in Q1 2026, and 15.03% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thor Industries | 3.75 Bn | 3.38 Bn | 354.77 Mn | 12.75% |
| 2 | Polaris | 3.42 Bn | 3.12 Bn | - | - |
| 3 | Harley-Davidson | 2.81 Bn | 912.98 Mn | 421.12 Mn | 34.23% |
| 4 | Brunswick | 1.58 Bn | 1.27 Bn | 437.80 Mn | 28.10% |
| 5 | Winnebago Industries | 815.89 Mn | 758.79 Mn | 94.90 Mn | 13.58% |
| 6 | Malibu Boats | 499.12 Mn | 424.71 Mn | 52.19 Mn | 17.66% |
| 7 | MasterCraft Boat Holdings | 370.16 Mn | 285.54 Mn | 19.54 Mn | 24.99% |
| 8 | Niu Technologies | 165.70 Mn | -29.42 Mn | 33.95 Mn | 15.99% |
| 9 | Massimo | 41.20 Mn | 36.56 Mn | 7.28 Mn | 48.81% |
| 10 | Gogoro | 39.84 Mn | -29.01 Mn | 15.96 Mn | 22.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 34.23% |
| Mar 31, 2026 | 32.27% |
| Dec 31, 2025 | 15.03% |
| Sep 30, 2025 | 40.43% |
| Jun 30, 2025 | 42.56% |
| Mar 31, 2025 | 42.01% |
| Dec 31, 2024 | 36.06% |
| Sep 30, 2024 | 46.24% |
| Jun 30, 2024 | 42.92% |
| Mar 31, 2024 | 40.81% |
| Dec 31, 2023 | 40.08% |
| Sep 30, 2023 | 42.33% |
| Jun 30, 2023 | 45.31% |
| Mar 31, 2023 | 43.68% |
| Dec 31, 2022 | 40.31% |
| Sep 25, 2022 | 42.58% |
| Jun 26, 2022 | 40.12% |
| Mar 27, 2022 | 40.11% |
| Dec 31, 2021 | 35.36% |
| Sep 26, 2021 | 37.73% |