Harley-Davidson Inc (HOG)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 4,990,590 | 5,856,000 | 5,765,250 | 5,275,170 | 4,457,050 | 4,738,230 | 5,204,320 | 4,470,090 | 4,595,620 | 4,876,290 | 4,745,020 | 5,478,090 | 5,932,930 | 6,171,680 | 6,488,500 | 4,478,080 | 5,124,830 | 4,607,040 | 4,650,180 | 4,744,690 |
| Total stockholders’ equity | US$ in thousands | 3,252,810 | 3,310,020 | 3,188,900 | 3,093,060 | 2,903,520 | 2,840,210 | 2,635,150 | 2,509,100 | 2,553,240 | 2,333,890 | 2,184,270 | 1,976,390 | 1,722,780 | 1,769,900 | 1,623,700 | 1,691,980 | 1,804,000 | 1,836,220 | 1,910,640 | 1,797,610 |
| Debt-to-equity ratio | 1.53 | 1.77 | 1.81 | 1.71 | 1.54 | 1.67 | 1.97 | 1.78 | 1.80 | 2.09 | 2.17 | 2.77 | 3.44 | 3.49 | 4.00 | 2.65 | 2.84 | 2.51 | 2.43 | 2.64 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,990,590K ÷ $3,252,810K
= 1.53
Harley-Davidson, Inc.'s debt-to-equity ratio has been fluctuating over the past eight quarters, indicating changes in the company's capital structure. The ratio ranged from 2.19 to 2.96 during this period.
A higher debt-to-equity ratio suggests that the company is more reliant on debt financing compared to equity. In Harley-Davidson's case, the ratio has generally been above 2, indicating a higher proportion of debt in its capital structure.
The trend of increasing debt-to-equity ratio from Q4 2022 through Q2 2023 to a peak of 2.96 in Q2 2022 may indicate a growing debt burden relative to equity during that period. However, the ratio decreased in Q3 and Q4 2023, suggesting a potential improvement in the capital structure as debt was reduced or equity increased.
It is important for investors and stakeholders to monitor Harley-Davidson's debt-to-equity ratio to assess the company's financial risk and leverage position, as well as its ability to meet its debt obligations and maintain a healthy capital structure.
Peer comparison
Dec 31, 2023