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HOG Stock Risk & Deep Value Analysis

Harley-Davidson Inc

DVR Score

1.1

out of 10

Distressed

What You Need to Know About HOG Stock

We analyzed Harley-Davidson Inc using our deep value framework. Sign in to see our full verdict and DVR Score.

We ran HOG through our deep value framework — analyzing financial health, distress signals, competitive moat, and risk factors. Our risk assessment: Aggressive. Here's what we found.

Updated Mar 23, 2026Run Fresh Analysis →

HOG Risk Analysis & Red Flags

Risk Matrix

Overall

Aggressive

Financial

Medium

Market

High

Competitive

High

Execution

High

Regulatory

Low

Upcoming Risk Events

  • 📅

    Further declines in core motorcycle sales

  • 📅

    Worse-than-expected Q1 2026 earnings or guidance cut

  • 📅

    Impact of Sportster S recall on brand perception/sales

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Investment Thesis

The investment thesis hinges on a successful and accelerated turnaround via the 'Hardwire' strategy, particularly the significant scaling of LiveWire and new adventure segments, which could potentially reignite growth and attract new demographics. However, current execution, financial performance, and market sentiment suggest this is a high-risk bet with limited evidence of near-term success required for 10x growth.

Is HOG Stock Undervalued?

Harley-Davidson (HOG) continues to face significant headwinds, making a 10x growth within 3-5 years highly improbable. Q4 2025 results showed a 9.8% YoY revenue decline and a substantial EPS miss, further compounded by a significant cut in Q1 2026 EPS estimates. The core business struggles with secular decline, while diversification efforts like LiveWire have yet to demonstrate scalable market leadership. Insider selling by key executives, alongside worsening analyst sentiment and recent price target cuts, reflects a lack of confidence. Despite a healthy balance sheet, the clear trend of declining profitability and weak execution on strategic pivots indicate HOG remains a 'dud' for multi-bagger returns.

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HOG Price Targets & Strategy

12-Month Target

$18.50

Bull Case

$21.67

Bear Case

$15.00

Valuation Basis

Based on 10x conservative estimated FY26 EPS of $1.85, reflecting limited growth potential.

Entry Strategy

Consider dollar-cost averaging in the $16.00-$17.50 range, near recent lows and consolidating support.

Exit Strategy

Take 50% profit at $20.00, remaining at $21.50. Set a stop loss at $15.50 to limit downside.

Portfolio Allocation

1% for aggressive risk tolerance, considering the high-risk, low-reward profile for 10x potential.

Price Targets & Strategy

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Is HOG Financially Healthy?

Valuation

P/E Ratio

6.75

Forward P/E

11.18

Price/Book

1.23

Profitability

Operating Margin

11.00%

Net Margin

8.00%

Return on Equity

10.42%

Balance Sheet

Current Ratio

2.10

Quick Ratio

1.83

Debt/Equity

0.94

Total Debt

$2.97B

Cash & Equivalents

$1.31B

Cash Flow

Operating Cash Flow

$692.10M

Other

Beta (Volatility)

1.42

Dividend Yield

4.40%

Does HOG Have a Competitive Moat?

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Moat Rating

🛡️ Narrow

Moat Trend

Eroding

Moat Sources

3 Identified

Brand PowerIntangible Assets (legacy, cultural icon)Efficient Scale (manufacturing, distribution network)

While the brand is iconic, its appeal is weakening among younger demographics. The shift to EVs and changing consumer preferences are eroding the long-term durability of the traditional brand moat.

Moat Erosion Risks

  • Shifting consumer preferences and demographics
  • Intensifying competition from new EV entrants and established players
  • Failure to successfully pivot and innovate beyond traditional offerings

HOG Competitive Moat Analysis

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HOG Market Intelligence

Sentiment & Insider Activity

Social Sentiment

Neutral to Bearish, reflecting general market skepticism about turnaround.

Institutional Sentiment

Negative, with recent analyst downgrades (UBS, Wells Fargo) and price target cuts.

Insider Activity (Form 4)

Net selling by multiple executives: Tori Termaat (CHRO) sold 1,239 shares ($25.30k) on Feb 17, 2026; Jonathan R. Root (CFO and CCO) sold 821 shares ($16.76k) on Feb 17, 2026; Glen Koval (SVP Motorcycle Development) sold 742 shares ($15.15k) on Feb 17, 2026; Do Charles (SVP, HDFSI) sold 4,241 shares ($76.74k) on Mar 12, 2026. No CEO/CFO buys.

Options Flow

Normal options activity, without significant directional bias indicated.

Earnings Intelligence

Next Earnings

2026-05-07

Surprise Probability

Low

Historical Earnings Pattern

Mixed reactions, but recent earnings misses and guidance cuts have typically led to negative stock price performance.

Key Metrics to Watch

Overall revenue growth (especially from new segments)Net income and EPS trajectoryForward guidance for full year 2026

Competitive Position

Top Competitor

PII

Market Share Trend

Losing/Stable in core segments, attempting to gain in new segments but challenged.

Valuation vs Peers

Trading at a low trailing P/E (6.41-6.58), suggesting the market is pricing in declining future earnings or lack of growth.

Competitive Advantages

  • Iconic Brand Power and legacy
  • Established dealer and service network
  • Significant customer loyalty within traditional base

Market Intelligence

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What Could Drive HOG Stock Higher?

Near-Term (0-6 months)

  • Q1 2026 Earnings on May 7, 2026
  • Continued execution of 'Hardwire' strategy initiatives

Medium-Term (6-18 months)

  • Further LiveWire model releases and market penetration
  • Stabilization of core motorcycle sales or growth in adventure touring

Long-Term (18+ months)

  • Successful pivot to electric vehicle market leadership (LiveWire)
  • Demographic shift towards new rider segments

Catalysts & Growth Drivers

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What's the Bull Case for HOG?

  • Consistent positive revenue growth in LiveWire and adventure touring segments

  • Improvement in overall gross and operating margins

  • Positive insider buying activity from key executives

Bull Case Analysis

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Competing with HOG

See how Harley-Davidson Inc compares to related companies

CompanyMarket CapDVR ScoreP/ERevenueProfit MarginRev Growth

Harley-Davidson Inc

HOG

$2.0B1.16.88.0%0.0%

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FAQ

What is the DVR Score for Harley-Davidson Inc (HOG)?

As of March 23, 2026, Harley-Davidson Inc has a DVR Score of 1.1 out of 10, placing it in the "Distressed" category. This score is generated by our AI-powered deep value analysis framework that evaluates growth potential, financial health, competitive moat, and risk factors.

What is the market capitalization of Harley-Davidson Inc?

Harley-Davidson Inc's market capitalization is approximately $2.0B..

What is the risk level for HOG stock?

Our analysis rates Harley-Davidson Inc's overall risk as Aggressive. This assessment considers execution risk, market risk, financial risk, competitive risk, and regulatory risk. For a full breakdown, see the risk analysis section above.

What is the P/E ratio of HOG?

Harley-Davidson Inc currently has a price-to-earnings (P/E) ratio of 6.8. This is below the market average, which could indicate the stock is undervalued or facing headwinds.

Does Harley-Davidson Inc pay a dividend?

Yes, Harley-Davidson Inc pays a dividend with a current yield of approximately 4.40%.

Is Harley-Davidson Inc's revenue growing?

Harley-Davidson Inc has reported revenue growth of 0.0%. Revenue has been declining, which warrants closer examination.

Is HOG stock profitable?

Harley-Davidson Inc has a profit margin of 8.0%. The company is profitable but margins are modest.

How often is the HOG DVR analysis updated?

Our AI-powered analysis of Harley-Davidson Inc is refreshed regularly to incorporate the latest financial data, market conditions, and news. The most recent update was on March 23, 2026.

Important Disclaimer – Not Financial Advice

Deep Value Reports is an independent research platform for educational and informational purposes only. We are not financial advisors, investment advisors, or licensed professionals. The analysis, scores, and information provided on this page for HOG (Harley-Davidson Inc) should not be construed as personalized investment advice, a recommendation to buy or sell any security, or an offer to provide investment advisory services.

All investments involve risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research, consider your financial situation, and consult with a qualified financial advisor before making any investment decisions.

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