Is Harley-Davidson, Inc. overvalued or undervalued?

As of 10 October 2025, the valuation grade for Harley-Davidson, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 10, an EV to EBITDA of 19.36, and a Price to Book Value of 1.06, which suggest that while the company is not significantly undervalued, it is also not positioned for substantial growth relative to its peers.
In comparison to its peers, Oshkosh Corp. has a more favorable P/E ratio of 15.10 and an EV to EBITDA of 9.50, highlighting that Harley-Davidson may be lagging behind in terms of valuation metrics. Additionally, the company's recent stock performance has been underwhelming, with a year-to-date return of -13.51% compared to the S&P 500's positive return of 11.41%, reinforcing the notion that the stock is currently struggling in the market.