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Motorcycles, Bicycles & Parts: capital spending and supply chain

SIC 3751 · 4 companies with filed cash-flow statements

Capital spending, 12 months$141M
Operating cash flow$480M
Capex / cash flow29%
Capex / revenue2.6%
Top 3 share99%

Analysis

4 companies in Motorcycles, Bicycles & Parts (SIC 3751) spent $141M on capital projects over their latest twelve months, 29% of the $480M their operations generated; the three largest spenders — HOG, FOXF, LVWR — account for 99%.

Capital spending is 2.6% of the industry's $5.5B of annual revenue.

By the industry's asset mix most of it goes to equipment (50%); about $21.6M is imported.

The largest supplier of that spending is manufacturing structures ($28.8M).

Its largest supplying industries, by the input-output tables: motorcycle, bicycle, and parts manufacturing ($941M), imports ($895M), other durable goods merchant wholesalers ($303M).

Charts

Motorcycles, Bicycles & Parts: capital spending by company, latest twelve monthsMotorcycles, Bicycles & Parts: capital spending by company, latest twelve monthsHOG$116MFOXF$20.2MLVWR$3.6MLEAT$1.2M
Filed cash-flow statements (SEC XBRL).
Motorcycles, Bicycles & Parts: what the capital spending buys (US part)Motorcycles, Bicycles & Parts: what the capital spending buys (US part)Structures$32.9MEquipment$60.4MSoftware$19.2MOther$7.7M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Motorcycles, Bicycles & Parts: the industries that build and sell what it buysMotorcycles, Bicycles & Parts: the industries that build and sell what it buysManufacturing structures$28.8MAircraft manufacturing$19.0MSoftware publishers$10.1MAircraft engine and engine parts …$6.6MComputer systems design services$4.8MMaterial handling equipment manuf…$4.2MAir conditioning, refrigeration, …$3.9MConstruction machinery manufactur…$3.9MCustom computer programming servi…$3.7MMachine tool manufacturing$3.0M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Motorcycles, Bicycles & Parts: its first-tier supplying industriesMotorcycles, Bicycles & Parts: its first-tier supplying industriesMotorcycle, bicycle, and parts ma…$941MImports$895MOther durable goods merchant whol…$303MAluminum product manufacturing fr…$269MManagement of companies and enter…$165MIron and steel mills and ferroall…$137MMotor vehicle and motor vehicle p…$136MEmployment services$52.3MArchitectural, engineering, and r…$49.0MTruck transportation$40.7M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Motorcycles, Bicycles & Parts: where the industry's cash came from (+) and went (−)Motorcycles, Bicycles & Parts: where the industry's cash came from (+) and went (−)Other investing (in)$3.5BOther financing (out)−$2.9BNet debt repaid−$1.1BOther financing (in)$911MOperating cash flow$526MBuybacks−$353MCash added to the balance she…−$294MCapital spending−$141MDividends−$80.5MOperating cash outflow−$46.2MCash drawn from the balance s…$19.9MExchange-rate losses on cash−$9.2MShares issued$1.0MOther investing (out)−$375K
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
HOG Harley-Davidson$116M$428M27%TTM to Q3 2026
FOXF Fox Factory Holding$20.2M$92.9M22%TTM to Q3 2026
LVWR LiveWire Group$3.6M−$46.2M—TTM to Q3 2026
LEAT Leatt$1.2M$5.1M24%TTM to Q2 2026

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
FOXFF12%Stated in 10-K (sentence)filing
LVWRHOG—Stated in 10-K (named, share not stated)filing
HOGRDNW—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.