Harley Davidson is an iconic American motorcycle brand with over a century of history. At the presentation, Firebird Management outlined Harley Davidson’s quality attributes and valuation case.
The company has established itself as the dominant player in the large-displacement motorcycle market in North America, with around 50% share. In addition to motorcycle sales, Harley Davidson also operates a profitable financial services business that provides the primary financing option for new bike purchases. This financial arm has generated steady returns, with a five-year average ROE of 19%.
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