Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Harley-Davidson, Inc. is an American manufacturer of heavyweight motorcycles and related products, operating primarily in the motorcycle, financial services, and branded apparel and accessories industries. The company is best known for designing and producing premium cruiser, touring, and custom motorcycles under the Harley-Davidson Motor Company brand, which represents its core revenue driver. In addition to motorcycles, the company generates revenue through parts, accessories, general merchandise, and financing services.
Founded in 1903 in Milwaukee, Wisconsin, Harley-Davidson evolved from a small motorcycle producer into one of the most recognized global motorcycle brands. Over its history, the company has navigated significant industry cycles, including post-war expansion, foreign competition in the late 20th century, and strategic restructuring efforts in the 2000s and 2010s. Its brand equity, loyal customer base, and emphasis on lifestyle-oriented marketing are widely regarded as key strategic advantages.
Business Operations
Harley-Davidson operates through two primary reportable segments: Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). HDMC designs, manufactures, and sells motorcycles, motorcycle parts, accessories, and branded merchandise, with motorcycles representing the majority of segment revenue. HDFS provides wholesale and retail financing, insurance, and extended service contracts primarily to Harley-Davidson dealers and customers, supporting motorcycle sales and dealer operations.
The company maintains manufacturing facilities in the United States, including Wisconsin and Pennsylvania, as well as international production and assembly operations in Thailand. Harley-Davidson also controls proprietary engine, vehicle, and manufacturing technologies and manages a global dealer network. The electric motorcycle brand LiveWire Group, Inc., which was partially spun off as a separate publicly traded company, remains strategically linked through brand heritage and technology collaboration.
Strategic Position & Investments
Harley-Davidson’s strategy has focused on prioritizing profitable core motorcycle segments, disciplined capital allocation, and selective expansion into new mobility technologies. This approach has been formalized through multi-year strategic plans emphasizing product innovation, cost management, and strengthening dealer and customer relationships. Electrification and advanced powertrain development have been pursued primarily through LiveWire Group, Inc., positioning the company within the emerging electric motorcycle market.
The company has made targeted investments in product development, digital retail capabilities, and international manufacturing efficiency rather than large-scale acquisitions. Strategic partnerships with suppliers and technology providers support manufacturing and electrification initiatives, while HDFS continues to invest in data analytics and risk management systems to enhance credit performance and dealer financing solutions.
Geographic Footprint
Harley-Davidson is headquartered in Milwaukee, Wisconsin, and operates globally across North America, Europe, Asia-Pacific, and Latin America. The United States remains its largest market by revenue, while international markets contribute a significant portion of motorcycle unit sales, particularly in Europe and parts of Asia.
International operations include manufacturing and assembly facilities, regional offices, and an extensive independent dealer network. The company’s production presence in Thailand supports sales across Asia-Pacific and other international markets, while distribution subsidiaries and licensees extend the brand’s reach into additional regions through apparel and accessories.
Leadership & Governance
Harley-Davidson is led by an executive team focused on brand stewardship, operational discipline, and long-term shareholder value. Leadership emphasizes a balance between preserving the company’s heritage and adapting to changing consumer preferences, regulatory environments, and technology trends.
Key executives include:
- Jochen Zeitz – Chairman, President, and Chief Executive Officer
- Jonathan Root – Chief Financial Officer
- Theo Keetell – President, Harley-Davidson Motor Company
- Luke Mansfield – Chief Commercial Officer
- James “Jay” Duewel – President, Harley-Davidson Financial Services