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How Harley-Davidson, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$3.6B · 100%Cost of revenue$2.7B · 76%Gross profit$862M · 24%Operating income$387M · 11%Income before tax$459M · 13%Income tax$130M · 4%Net income$339M · 9%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$3.6B100%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
Cost of revenue$2.7B76%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
$862M24%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
$387M11%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
Income before tax$459M13%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
Income tax$130M4%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
$339M9%
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0000793952-26-000011 · filed Feb 26, 2026
· event Dec 31, 2025 · retrieved Sep 19, 2026 · annual-row source set
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