HOG · CIK 0000793952 · FY2025 live · 2025-12-31
HARLEY-DAVIDSON, INC.
View as
Model
Classic Z
FY2025
2.07
Zone
Grey
vs FY2024
+0.84
Market DD
—
1y PD
—
Meridian Rank
73.60
from 74.13
0–100 · Classic Z tape · not a PD
Book standing
66
Year change
90
Market PD
—
O-score
72
Events on this name
Same published rows as Today. Not a live recompute.
Exited distress
material · 74
- Zone: Distress → Grey
- Live Z: 1.24 → 2.07
- Meridian Rank: 74.13 → 73.60
2.07
Z″ 4.89
Score 2.07 · distress below 1.80, grey to 2.99, safe at 3.00 and above.
Classic Z factor contributions
X1 Working capital / assets
Short-term liquidity versus the size of the balance sheet.
0.361.2 × = 0.44X2 Retained earnings / assets
Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.
0.461.4 × = 0.65X3 EBIT / assets
Operating return on assets. Highest weight in the original model.
0.053.3 × = 0.16X4 Book equity / liabilities
Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.
0.640.6 × = 0.38X5 Sales / assets
Asset turnover — how much revenue the asset base supports.
0.451 × = 0.45
Five-year path
Z plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.
Overview
rule-v1
HARLEY-DAVIDSON, INC. is on classic Z at 2.07 (grey) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print; sales / assets is the runner-up. It left distress into grey (+0.84 versus FY2024 1.24). No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.
Book screen Grey; market PD —. Tape not priced — not a single default call.
MD&A excerpt
Management reports weaker motorcycle shipments in core North American dealer channels, with the financing captive absorbing more residual-value and credit risk. The MD&A notes a pullback in discretionary big-ticket retail and a plan to throttle production rather than load dealers. Liquidity is supported by the captive's wholesale funding, which also concentrates interest-rate sensitivity on the same balance sheet.
Market DD · naive Merton
No market tape yet.
Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.
Sector peers
Closest Classic Z scores · 59th percentile in Industrials.
KPI widgets
Current assets
$5.6B
Total assets
$8.0B
Current liabilities
$2.7B
Total liabilities
$4.9B
Working capital
$2.9B
Retained earnings
$3.7B
EBIT
$387M
Total sales
$3.6B
Book equity
$3.1B
Accession 0000793952-26-000011. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.