Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $4,054 | $5,336 | $5,755 | $5,836 | $5,187 |
| Gross Profit | $1,619 | $2,093 | $2,351 | $2,514 | $2,181 |
| Operating Income | $10 | $823 | $909 | $779 | $417 |
| Net Income | $1 | $650 | $741 | $707 | $455 |
Over the five-year period, Harley-Davidson’s revenue grew markedly from approximately USD 4.05 billion in 2020 to a peak of USD 5.84 billion in 2023, driven by a sharp recovery in 2021 (+31%) and continued growth into 2022. However, revenue declined by roughly 11% to USD 5.19 billion in 2024. Gross profit followed a similar trend, with an initial increase from about USD 1.62 billion in 2020 to USD 2.51 billion in 2023 before retracting to around USD 2.18 billion in 2024. These figures indicate that while the early recovery was robust, later periods experienced headwinds that eroded both top-line and gross margin performance. A striking observation is the dramatic swing in operating income—from a very modest USD 9.68 million in 2020, surging to USD 823 million in 2021, representing an extraordinary turnaround likely due to significant operational improvements or restructuring effects. This was maintained into 2022 at USD 909 million but then fell by approximately 14% in 2023 and sharply dropped by about 47% to USD 417 million in 2024. Similarly, net income climbed from USD 1.30 million in 2020 to USD 650 million in 2021, then hovered around USD 700 million before declining to USD 455 million in 2024. This pattern suggests that while operational leverage and cost management drove early improvements, later market challenges or rising expenses could have undermined profitability. Overall, despite initial strong recoveries, the noticeable deterioration in margins in recent years raises concerns about sustainability, implying that Harley-Davidson may need to address cost pressures and adapt to evolving market conditions to stabilize long-term financial health.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.