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哈雷戴维森（HOG）与LiveWire Group, Inc.（LVWR）财务数据对比。点击上方公司名可切换其他公司
哈雷戴维森的季度营收约是LiveWire Group, Inc.的34.4倍（$390.5M vs $11.4M）。哈雷戴维森净利率更高（-72.3% vs -155.2%，领先82.8%）。LiveWire Group, Inc.同比增速更快（5.5% vs -9.4%）。哈雷戴维森自由现金流更多（$100.4M vs $-8.9M）。过去两年LiveWire Group, Inc.的营收复合增速更高（51.0% vs -48.6%）
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
LiveWire集团是美国的电动摩托车制造商，该品牌最初于2021年7月作为哈雷戴维森旗下专属电动出行部门推出，2022年9月27日通过与特殊目的收购公司合并完成分拆，从母公司独立后上市，是美国第一家上市的电动摩托车企业。
HOG vs LVWR — 直观对比
营收规模更大
HOG
是对方的34.4倍
$11.4M
营收增速更快
LVWR
高出14.9%
-9.4%
净利率更高
HOG
高出82.8%
-155.2%
自由现金流更多
HOG
多$109.4M
$-8.9M
两年增速更快
LVWR
近两年复合增速
-48.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $390.5M | $11.4M |
| 净利润 | $-282.6M | $-17.6M |
| 毛利率 | -7.9% | 0.8% |
| 营业利润率 | -92.4% | -156.2% |
| 净利率 | -72.3% | -155.2% |
| 营收同比 | -9.4% | 5.5% |
| 净利润同比 | -138.6% | 22.6% |
| 每股收益（稀释后） | $-2.27 | $-0.09 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收HOGLVWR
| Q4 25 | $390.5M | $11.4M | ||
| Q3 25 | $1.1B | $5.7M | ||
| Q2 25 | $1.0B | $5.9M | ||
| Q1 25 | $1.1B | $2.7M | ||
| Q4 24 | $430.9M | $10.8M | ||
| Q3 24 | $881.2M | $4.4M | ||
| Q2 24 | $1.4B | $6.4M | ||
| Q1 24 | $1.5B | $5.0M |
净利润HOGLVWR
| Q4 25 | $-282.6M | $-17.6M | ||
| Q3 25 | $377.4M | $-19.4M | ||
| Q2 25 | $107.6M | $-18.8M | ||
| Q1 25 | $133.1M | $-19.3M | ||
| Q4 24 | $-118.4M | $-22.8M | ||
| Q3 24 | $119.0M | $-22.7M | ||
| Q2 24 | $218.3M | $-24.8M | ||
| Q1 24 | $234.9M | $-23.6M |
毛利率HOGLVWR
| Q4 25 | -7.9% | 0.8% | ||
| Q3 25 | 26.0% | -50.9% | ||
| Q2 25 | 28.5% | 9.3% | ||
| Q1 25 | 28.9% | -79.0% | ||
| Q4 24 | -2.0% | -49.8% | ||
| Q3 24 | 29.8% | -34.2% | ||
| Q2 24 | 31.8% | -27.6% | ||
| Q1 24 | 30.9% | -82.9% |
营业利润率HOGLVWR
| Q4 25 | -92.4% | -156.2% | ||
| Q3 25 | 44.0% | -330.0% | ||
| Q2 25 | 10.7% | -311.0% | ||
| Q1 25 | 14.8% | -753.4% | ||
| Q4 24 | -44.9% | -234.6% | ||
| Q3 24 | 12.0% | -596.7% | ||
| Q2 24 | 17.8% | -436.7% | ||
| Q1 24 | 17.8% | -611.1% |
净利率HOGLVWR
| Q4 25 | -72.3% | -155.2% | ||
| Q3 25 | 35.0% | -340.2% | ||
| Q2 25 | 10.2% | -320.6% | ||
| Q1 25 | 12.3% | -702.6% | ||
| Q4 24 | -27.5% | -211.7% | ||
| Q3 24 | 13.5% | -510.6% | ||
| Q2 24 | 16.1% | -384.6% | ||
| Q1 24 | 15.9% | -475.0% |
每股收益（稀释后）HOGLVWR
| Q4 25 | $-2.27 | $-0.09 | ||
| Q3 25 | $3.10 | $-0.10 | ||
| Q2 25 | $0.88 | $-0.09 | ||
| Q1 25 | $1.07 | $-0.09 | ||
| Q4 24 | $-0.82 | $-0.11 | ||
| Q3 24 | $0.91 | $-0.11 | ||
| Q2 24 | $1.63 | $-0.12 | ||
| Q1 24 | $1.72 | $-0.12 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $3.1B | $82.8M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $3.1B | $46.0M |
| 总资产 | $8.0B | $146.4M |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资HOGLVWR
| Q4 25 | $3.1B | $82.8M | ||
| Q3 25 | $1.8B | $16.3M | ||
| Q2 25 | $1.6B | $29.3M | ||
| Q1 25 | $1.9B | $46.2M | ||
| Q4 24 | $1.6B | $64.4M | ||
| Q3 24 | $2.2B | $88.4M | ||
| Q2 24 | $1.8B | $113.0M | ||
| Q1 24 | $1.5B | $141.0M |
总债务HOGLVWR
| Q4 25 | $2.5B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.3B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $7.0B | — | ||
| Q1 24 | $6.3B | — |
股东权益HOGLVWR
| Q4 25 | $3.1B | $46.0M | ||
| Q3 25 | $3.6B | $61.8M | ||
| Q2 25 | $3.3B | $79.7M | ||
| Q1 25 | $3.2B | $97.2M | ||
| Q4 24 | $3.2B | $115.1M | ||
| Q3 24 | $3.4B | $137.7M | ||
| Q2 24 | $3.4B | $159.0M | ||
| Q1 24 | $3.3B | $183.8M |
总资产HOGLVWR
| Q4 25 | $8.0B | $146.4M | ||
| Q3 25 | $10.6B | $89.2M | ||
| Q2 25 | $12.1B | $109.8M | ||
| Q1 25 | $12.4B | $128.3M | ||
| Q4 24 | $11.9B | $148.0M | ||
| Q3 24 | $13.0B | $178.3M | ||
| Q2 24 | $12.8B | $204.9M | ||
| Q1 24 | $12.3B | $237.1M |
负债/权益比HOGLVWR
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.91× | — | ||
| Q1 25 | 2.14× | — | ||
| Q4 24 | 2.00× | — | ||
| Q3 24 | 2.13× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | 1.88× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $152.0M | $-7.9M |
| 自由现金流经营现金流 - 资本支出 | $100.4M | $-8.9M |
| 自由现金流率自由现金流/营收 | 25.7% | -78.7% |
| 资本支出强度资本支出/营收 | 13.2% | 9.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $415.2M | $-57.4M |
8季度趋势，按日历期对齐
经营现金流HOGLVWR
| Q4 25 | $152.0M | $-7.9M | ||
| Q3 25 | $-92.6M | $-13.3M | ||
| Q2 25 | $368.0M | $-14.9M | ||
| Q1 25 | $141.5M | $-17.5M | ||
| Q4 24 | $133.2M | $-21.9M | ||
| Q3 24 | $353.0M | $-23.1M | ||
| Q2 24 | $473.6M | $-26.0M | ||
| Q1 24 | $104.0M | $-22.9M |
自由现金流HOGLVWR
| Q4 25 | $100.4M | $-8.9M | ||
| Q3 25 | $-129.1M | $-14.0M | ||
| Q2 25 | $332.4M | $-16.3M | ||
| Q1 25 | $111.6M | $-18.1M | ||
| Q4 24 | $77.0M | $-23.3M | ||
| Q3 24 | $300.4M | $-24.7M | ||
| Q2 24 | $432.2M | $-27.8M | ||
| Q1 24 | $57.6M | $-26.2M |
自由现金流率HOGLVWR
| Q4 25 | 25.7% | -78.7% | ||
| Q3 25 | -12.0% | -245.9% | ||
| Q2 25 | 31.7% | -277.7% | ||
| Q1 25 | 10.3% | -660.0% | ||
| Q4 24 | 17.9% | -216.3% | ||
| Q3 24 | 34.1% | -555.3% | ||
| Q2 24 | 31.9% | -431.1% | ||
| Q1 24 | 3.9% | -525.6% |
资本支出强度HOGLVWR
| Q4 25 | 13.2% | 9.1% | ||
| Q3 25 | 3.4% | 12.9% | ||
| Q2 25 | 3.4% | 24.3% | ||
| Q1 25 | 2.8% | 22.3% | ||
| Q4 24 | 13.0% | 13.1% | ||
| Q3 24 | 6.0% | 35.6% | ||
| Q2 24 | 3.1% | 28.5% | ||
| Q1 24 | 3.1% | 65.1% |
现金转化率HOGLVWR
| Q4 25 | — | — | ||
| Q3 25 | -0.25× | — | ||
| Q2 25 | 3.42× | — | ||
| Q1 25 | 1.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 2.17× | — | ||
| Q1 24 | 0.44× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
HOG
| Motorcycles | $193.9M | 50% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Interest Income Financial Services | $45.8M | 12% |
| Other | $18.0M | 5% |
| Livewire Segment | $11.4M | 3% |
LVWR
暂无分部数据
