Harley-Davidson (HOG) Operating Margin (2009 - 2026)
Harley-Davidson (HOG) posted Operating Margin of 2.0% for Q1 2026, down 97.93% sequentially from 96.79% in Q4 2025, and down 1280.0% YoY from 0.17% in Q1 2025.
Harley-Davidson (HOG) Operating Margin (2009 - 2026) Analysis & Trends
Harley-Davidson has reported Operating Margin for 18 years, with the latest figure at 2.0% in Q1 2026.
- Quarterly Operating Margin fell 1280.0% year-over-year to 2.0% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 7.83% (down 187.0% YoY) and the FY2025 annual result came in at 10.73%, up 68.0% from the prior year.
- Operating Margin retreated to 2.0% in Q1 2026 per HOG's latest filing, from 96.79% in the prior quarter.
- Over five years, Operating Margin peaked at 96.79% in Q4 2025 and troughed at 2.62% in Q4 2023.
- A 5-year average of 22.19% and a median of 16.04% in 2023 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2024 and 2026: Operating Margin surged 5772 bps in 2024, then slumped 1280 bps in 2026.
- Over 5 years, Operating Margin stood at 0.21% in 2022, then tumbled by 1334 bps to 2.62% in 2023, then jumped by 2202 bps to 55.1% in 2024, then jumped by 76 bps to 96.79% in 2025, then slumped by 98 bps to 2.0% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 2.0%, 96.79%, and 35.41% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brp | 4.89 Bn | 4.33 Bn | 409.69 Mn | 9.43% |
| 2 | Thor Industries | 4.09 Bn | 3.71 Bn | 354.77 Mn | 4.45% |
| 3 | Polaris | 3.69 Bn | 3.39 Bn | - | - |
| 4 | Harley-Davidson | 2.89 Bn | 996.54 Mn | 421.12 Mn | 6.18% |
| 5 | Patrick Industries | 2.70 Bn | 2.68 Bn | 247.58 Mn | 7.40% |
| 6 | Lci Industries | 2.54 Bn | 2.32 Bn | 301.14 Mn | 9.91% |
| 7 | Brunswick | 1.55 Bn | 1.24 Bn | 437.80 Mn | 8.31% |
| 8 | Winnebago Industries | 908.43 Mn | 851.33 Mn | 94.90 Mn | 3.29% |
| 9 | Malibu Boats | 552.37 Mn | 502.20 Mn | 41.28 Mn | -0.81% |
| 10 | MasterCraft Boat Holdings | 404.05 Mn | 319.43 Mn | 19.54 Mn | -1.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.18% |
| Mar 31, 2026 | 2.00% |
| Dec 31, 2025 | 96.79% |
| Sep 30, 2025 | 35.41% |
| Jun 30, 2025 | 10.71% |
| Mar 31, 2025 | 14.80% |
| Dec 31, 2024 | 55.10% |
| Sep 30, 2024 | 9.19% |
| Jun 30, 2024 | 17.79% |
| Mar 31, 2024 | 15.21% |
| Dec 31, 2023 | -2.62% |
| Sep 30, 2023 | 16.04% |
| Jun 30, 2023 | 15.31% |
| Mar 31, 2023 | 23.61% |
| Dec 31, 2022 | 0.21% |
| Sep 25, 2022 | 23.57% |
| Jun 26, 2022 | 21.92% |
| Mar 27, 2022 | 22.19% |
| Dec 31, 2021 | -0.90% |
| Sep 26, 2021 | 17.60% |