Tearsheet

Dana (DAN)

Market Price (5/11/2026): $34.685 | Market Cap: $4.1 Bil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Dana (DAN)

Market Price (5/11/2026): $34.685
Market Cap: $4.1 Bil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
FCF Yield is 7.3%

Low stock price volatility
Vol 12M is 37%

Megatrend and thematic drivers
Megatrends include Electric Vehicles & Autonomous Driving, Hydrogen Economy, and Future of Freight. Themes include EV Manufacturing, Show more.

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 75%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 48x

Stock price has recently run up significantly
12M Rtn12 month market price return is 126%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 56%

Key risks
DAN key risks include [1] navigating the costly technological shift to electric vehicles and [2] its significant debt load and a history of negative free cash flow.

0	Attractive yield FCF Yield is 7.3%
1	Low stock price volatility Vol 12M is 37%
2	Megatrend and thematic drivers Megatrends include Electric Vehicles & Autonomous Driving, Hydrogen Economy, and Future of Freight. Themes include EV Manufacturing, Show more.
3	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 75%
4	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 48x
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 126%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.2%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 56%
8	Key risks DAN key risks include [1] navigating the costly technological shift to electric vehicles and [2] its significant debt load and a history of negative free cash flow.

Valuation, Metrics & Events

	5/11/26	2025	2024	2023	2022
Share Price CYE	$34.69	$23.76	$11.56	$14.61	$15.13
Market Cap CYE ($ Bil)	4.1	2.8	1.7	2.1	2.2
Total Debt ($ Bil)	3.5	3.5	2.9	3.0	2.7
Total Cash ($ Bil)	0.5	0.5	0.5	0.5	0.4
Enterprise Value ($ Bil)	7.1	6.3	4.6	5.1	4.9
Valuation Ratios
P/S TTM	0.5	0.3	0.2	0.3	0.2
P/EBIT TTM	19.0	13.0	-31.3	-22.5	22.4
P/E TTM	47.8	32.8	-29.6	55.7	-9.0
P/FCF TTM	13.6	9.3	12.2	43.2	10.4
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.8	1.0	0.9
P/EBIT TTM (Sector)	8.6	8.7	7.0	8.2	6.8
P/E TTM (Sector)	12.1	11.5	9.5	12.2	8.2
P/FCF TTM (Sector)	9.9	9.9	10.0	10.6	6.8

	5/11/26	2025	2024
Share Price CYE	$34.69	$23.76	$11.56
Market Cap CYE ($ Bil)	4.1	2.8	1.7
Total Debt ($ Bil)	3.5	3.5	2.9
Total Cash ($ Bil)	0.5	0.5	0.5
Enterprise Value ($ Bil)	7.1	6.3	4.6
Valuation Ratios
P/S TTM	0.5	0.3	0.2
P/EBIT TTM	19.0	13.0	-31.3
P/E TTM	47.8	32.8	-29.6
P/FCF TTM	13.6	9.3	12.2
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.8
P/EBIT TTM (Sector)	8.6	8.7	7.0
P/E TTM (Sector)	12.1	11.5	9.5
P/FCF TTM (Sector)	9.9	9.9	10.0

	DAN	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	8.1
Rev Chg Q	5.2%	8.7%
Rev Chg LTM	-4.5%	7.3%
Rev Chg 3Y Avg	-6.2%	5.8%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.3
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	3.6%	18.4%
CFO/Rev LTM	6.3%	21.0%
Net Inc Mgn	1.1%	12.9%
VALUATION	MODERATE
P/S	0.5	3.2
P/CFO	7.9	14.9
P/FCF	13.6	19.5
P/E	47.8	23.7
STABILITY	FAIR
Debt/Equity	0.87	0.22
Cash/Assets	0.06	0.07

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Metric	Value	Date	Source
Three-year new business sales backlog	$950 million	12312023	Link

Recent
4/29/2026	Earnings Release	Rev: $1.0 Bil (A) vs. $1.0 Bil (E) EPS: 0.24 (A) vs. $0.32 (E)
5/08/2026	Dividend	Amount: $0.12 Payment On: 5/29/2026
Upcoming
7/24/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $0.59 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Dana (DAN) stock has gained about 20% since 1/31/2026 because of the following key factors:

1. Dana's robust first-quarter 2026 financial results significantly surpassed analyst expectations and maintained strong full-year guidance. The company reported Q1 2026 sales of $1.87 billion, exceeding analyst forecasts of $1.83 billion, and achieved a substantial year-over-year adjusted EBITDA increase of $78 million, reaching $171 million with a 9.2% margin. This performance marked a 400 basis point improvement in EBITDA margin compared to Q1 2025, with Dana reaffirming its full-year guidance of $7.3-$7.7 billion in sales and $750-$850 million in adjusted EBITDA.

2. The unveiling of the "Dana 2030" long-term growth and value-creation plan provided investors with a clear and ambitious strategic roadmap. During its Capital Markets Day on March 25, 2026, Dana outlined targets including approximately $10 billion in annual sales by 2030, a 33% increase over 2026 guidance. The plan also projects adjusted EBITDA margins of 14-15%, reflecting a 400 basis point improvement, and an adjusted free cash flow margin of approximately 6%, a 200 basis point improvement, signaling structurally higher profitability.

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Stock Movement Drivers

Fundamental Drivers

The 20.9% change in DAN stock from 1/31/2026 to 5/10/2026 was primarily driven by a 52.8% change in the company's Net Income Margin (%).

(LTM values as of)	1312026	5102026	Change
Stock Price ($)	28.70	34.70	20.9%
Change Contribution By:
Total Revenues ($ Mil)	7,978	8,071	1.2%
Net Income Margin (%)	0.7%	1.1%	52.8%
P/E Multiple	67.0	47.8	-28.6%
Shares Outstanding (Mil)	128	117	9.6%
Cumulative Contribution			20.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/10/2026

	Return	Correlation
DAN	20.9%
Market (SPY)	3.6%	60.9%
Sector (XLY)	-0.6%	53.3%

Fundamental Drivers

The 72.9% change in DAN stock from 10/31/2025 to 5/10/2026 was primarily driven by a 52.8% change in the company's Net Income Margin (%).

(LTM values as of)	10312025	5102026	Change
Stock Price ($)	20.07	34.70	72.9%
Change Contribution By:
Total Revenues ($ Mil)	7,978	8,071	1.2%
Net Income Margin (%)	0.7%	1.1%	52.8%
P/E Multiple	46.8	47.8	2.1%
Shares Outstanding (Mil)	128	117	9.6%
Cumulative Contribution			72.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/10/2026

	Return	Correlation
DAN	72.9%
Market (SPY)	5.5%	54.9%
Sector (XLY)	0.6%	53.4%

Fundamental Drivers

The 158.7% change in DAN stock from 4/30/2025 to 5/10/2026 was primarily driven by a 108.2% change in the company's P/S Multiple.

(LTM values as of)	4302025	5102026	Change
Stock Price ($)	13.42	34.70	158.7%
Change Contribution By:
Total Revenues ($ Mil)	8,070	8,071	0.0%
P/S Multiple	0.2	0.5	108.2%
Shares Outstanding (Mil)	146	117	24.2%
Cumulative Contribution			158.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/10/2026

	Return	Correlation
DAN	158.7%
Market (SPY)	30.4%	47.5%
Sector (XLY)	22.8%	48.3%

Fundamental Drivers

The 156.3% change in DAN stock from 4/30/2023 to 5/10/2026 was primarily driven by a 166.9% change in the company's P/S Multiple.

(LTM values as of)	4302023	5102026	Change
Stock Price ($)	13.54	34.70	156.3%
Change Contribution By:
Total Revenues ($ Mil)	10,320	8,071	-21.8%
P/S Multiple	0.2	0.5	166.9%
Shares Outstanding (Mil)	144	117	22.8%
Cumulative Contribution			156.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/10/2026

	Return	Correlation
DAN	156.3%
Market (SPY)	78.7%	53.5%
Sector (XLY)	66.6%	51.2%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
DAN Return	19%	-32%	-1%	-18%	110%	46%	103%
Peers Return	7%	-8%	14%	14%	29%	25%	107%
S&P 500 Return	27%	-19%	24%	23%	16%	7%	95%
Monthly Win Rates [3]
DAN Win Rate	50%	33%	42%	42%	67%	60%
Peers Win Rate	57%	40%	48%	48%	60%	68%
S&P 500 Win Rate	75%	42%	67%	75%	67%	60%
Max Drawdowns [4]
DAN Max Drawdown	-2%	-49%	-24%	-46%	-10%	0%
Peers Max Drawdown	-8%	-25%	-8%	-18%	-23%	-1%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: BWA, MGA, CMI, LEA, ALSN. See DAN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/8/2026 (YTD)

Event	DAN	S&P 500
2025 US Tariff Shock
% Loss	-36.3%	-18.8%
% Gain to Breakeven	56.9%	23.1%
Time to Breakeven	34 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-39.4%	-9.5%
% Gain to Breakeven	65.0%	10.5%
Time to Breakeven	588 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-29.3%	-6.7%
% Gain to Breakeven	41.4%	7.1%
Time to Breakeven	49 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-49.4%	-24.5%
% Gain to Breakeven	97.6%	32.4%
Time to Breakeven	1070 days	427 days
2020 COVID-19 Crash
% Loss	-75.0%	-33.7%
% Gain to Breakeven	300.3%	50.9%
Time to Breakeven	243 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-30.8%	-19.2%
% Gain to Breakeven	44.6%	23.7%
Time to Breakeven	53 days	105 days

Compare to BWA, MGA, CMI, LEA, ALSN

In The Past

Dana's stock fell -36.3% during the 2025 US Tariff Shock. Such a loss loss requires a 56.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	DAN	S&P 500
2025 US Tariff Shock
% Loss	-36.3%	-18.8%
% Gain to Breakeven	56.9%	23.1%
Time to Breakeven	34 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-39.4%	-9.5%
% Gain to Breakeven	65.0%	10.5%
Time to Breakeven	588 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-29.3%	-6.7%
% Gain to Breakeven	41.4%	7.1%
Time to Breakeven	49 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-49.4%	-24.5%
% Gain to Breakeven	97.6%	32.4%
Time to Breakeven	1070 days	427 days
2020 COVID-19 Crash
% Loss	-75.0%	-33.7%
% Gain to Breakeven	300.3%	50.9%
Time to Breakeven	243 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-30.8%	-19.2%
% Gain to Breakeven	44.6%	23.7%
Time to Breakeven	53 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-41.1%	-12.2%
% Gain to Breakeven	69.7%	13.9%
Time to Breakeven	316 days	62 days
2014-2016 Oil Price Collapse
% Loss	-51.8%	-6.8%
% Gain to Breakeven	107.6%	7.3%
Time to Breakeven	525 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-46.2%	-17.9%
% Gain to Breakeven	85.7%	21.8%
Time to Breakeven	592 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-32.5%	-15.4%
% Gain to Breakeven	48.2%	18.2%
Time to Breakeven	108 days	125 days
2008-2009 Global Financial Crisis
% Loss	-98.6%	-53.4%
% Gain to Breakeven	6902.1%	114.4%
Time to Breakeven	598 days	1085 days

Compare to BWA, MGA, CMI, LEA, ALSN

In The Past

Dana's stock fell -36.3% during the 2025 US Tariff Shock. Such a loss loss requires a 56.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Dana (DAN)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Dana Incorporated provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. It operates in four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies. The Light Vehicle Drive Systems segment offers axles, driveshafts, e-axles, electrodynamic and drivetrain components, and transmissions, as well as electric, hybrid, and ICE products for light trucks, sport and crossover utility vehicles, vans, and passenger cars. The Commercial Vehicle Drive and Motion Systems segment provides axles, driveshafts, e-axles, e-transmissions, electrodynamic and drivetrain components, and electric vehicle integration services, as well as software as a service for medium and heavy duty trucks, buses, and specialty vehicles. The Off-Highway Drive and Motion Systems segment offers axles, driveshafts, transmissions, planetary hub drives, e-axles and e-drives, and helical and bevel-helical gearboxes, as well as electrodynamic, hydraulic, and drivetrain components for construction, earth moving, agricultural, mining, forestry, material handling, and industrial stationary markets. The Power Technologies segment offers gaskets and sealing, cover modules, heat shields, thermal management, e-thermal management, cooling, and bipolar fuel cell plates products for light vehicle, medium/heavy vehicle, and off-highway markets. The company was formerly known as Dana Holding Corporation and changed its name to Dana Incorporated in August 2016. Dana Incorporated was founded in 1904 and is headquartered in Maumee, Ohio.

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Here are 1-3 brief analogies for Dana (DAN):

They're like the 'Intel Inside' for the components that make vehicles move and manage their temperature, supplying critical axles, driveshafts, and thermal systems for everything from passenger cars to heavy construction equipment.
Think of them as the Foxconn of mechanical components, supplying the essential axles, driveshafts, and thermal systems that make a vast array of vehicles—from cars to massive off-highway machinery—actually work.

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Drive Systems (Axles, Driveshafts, Transmissions): Mechanical and electrodynamic components essential for power transmission in light, commercial, and off-highway vehicles and machinery.
E-Drive Systems (E-Axles, E-Drives, E-Transmissions): Integrated electric power and motion solutions specifically for electric and hybrid vehicles and machinery.
Gearboxes and Planetary Hub Drives: Specialized gear systems, including helical, bevel-helical, and planetary hub drives, used for power transmission in off-highway and industrial applications.
Power Technologies (Gaskets, Sealing, Thermal Management): Components for sealing, heat protection, temperature control, and bipolar fuel cell plates for various markets.
Hydraulic Components: Parts utilizing fluid power for motion and control in off-highway machinery.
Electric Vehicle Integration Services: Expertise provided for integrating electric vehicle components and systems into commercial vehicles.
Software as a Service (SaaS): Digital software solutions offered for enhancing commercial vehicle operations.

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Dana Incorporated (DAN) sells primarily to other companies, specifically original equipment manufacturers (OEMs) in the automotive, commercial vehicle, and off-highway equipment industries. Its major customers are leading global manufacturers in these sectors.

Examples of Dana's major customers include:

Ford Motor Company (F)
General Motors Company (GM)
Caterpillar Inc. (CAT)
PACCAR Inc (PCAR)
Deere & Company (DE)

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R. Bruce McDonald, Chairman and Chief Executive Officer

Mr. McDonald was appointed Chairman and Chief Executive Officer of Dana Incorporated in November 2024. He has been a member of Dana's Board of Directors since 2014. Prior to joining Dana, he served as the retired chairman and chief executive officer of Adient plc, a global automotive supplier. He also held executive roles at Johnson Controls, Inc., including executive vice president and vice chairman (2014-2016), and executive vice president and chief financial officer (2005-2014). Earlier in his career, he was vice president for finance at TRW Automotive and began his career with Ernst & Young. Mr. McDonald is a Chartered Accountant and Certified Public Accountant and holds a Bachelor of Commerce degree from McMaster University.

Byron Foster, Senior Vice President and President, Light Vehicle Systems (Incoming Chief Executive Officer, effective July 1, 2026)

Mr. Foster is set to become Dana's Chief Executive Officer, effective July 1, 2026. He currently serves as Senior Vice President and President of Light Vehicle Systems, Dana's largest business unit, a role he assumed in July 2021. He joined Dana in February 2021 as senior vice president and chief commercial, marketing, and communications officer. Mr. Foster has over two decades of senior leadership experience, including executive roles at Johnson Controls and Adient plc. He also served as CEO of Shield T3 from September 2020 to February 2021. He holds a Bachelor of Business Administration from the University of Michigan and an MBA from Northwestern University. He serves on the board of directors of Wabtec Corporation.

Timothy R. Kraus, Senior Vice President and Chief Financial Officer

Mr. Kraus was appointed Senior Vice President and Chief Financial Officer of Dana Incorporated in December 2021. He joined Dana in 2010 and previously served as Senior Vice President of Finance and Treasurer since 2017. In his role, he has been responsible for Dana's global treasury operations, including corporate liquidity, cash and risk management, and its tax and business development activities. He has also led more than a dozen strategic acquisitions since 2016. Before joining Dana, Mr. Kraus held leadership positions with Intelsat S.A., Lear Corporation, and Ernst & Young LLP. He is a certified public accountant and earned a Bachelor of General Studies in accounting and economics from the University of Michigan and a Master of Business Administration from Michigan State University.

Douglas H. Liedberg, Senior Vice President, Chief Legal and Human Resources Officer, and Corporate Secretary

Mr. Liedberg is the senior vice president, chief legal and human resources officer, and corporate secretary of Dana Incorporated, overseeing worldwide legal affairs and human resource functions. He first joined Dana in 1999, left to serve as a partner in the Corporate Practice Group of the Dentons law firm from 2001 to 2004, and then rejoined Dana in 2004. He was appointed general counsel and secretary in 2017, and in 2025, assumed the additional role of chief human resources officer. Mr. Liedberg holds a Juris Doctor degree from the University of Notre Dame Law School, an MBA from the Duke University Fuqua School of Business, and a Bachelor of Arts degree from Rockford University.

Andrea Siudara, Senior Vice President and Chief Information Officer

Ms. Siudara serves as senior vice president and chief information officer for Dana, leading the company's digital strategy and all aspects of information technology. She has more than 20 years of diverse global industry experience across automotive, service, and software. Her background includes executive roles at Ford Motor Company, where she was the functional CIO of the global data and analytics team, and as CIO for the Aftermarket Division of Delphi Automotive. She also spent over a decade in consulting and global management roles at General Motors. Before joining Dana, Ms. Siudara served as vice president of Digital Enterprise Transformation for Johnson Controls and was the global CIO for Altair Engineering. She holds a bachelor's degree in psychology from the University of Michigan and a master's degree in business administration from Michigan State University, also having studied computer science at Carnegie Mellon University. Ms. Siudara serves on the Board of Bocar Group.

AI Analysis | Feedback

The key risks to Dana Incorporated (DAN) primarily revolve around its financial health, the cyclical nature of the industries it serves, and cost pressures.

High Debt Load and Negative Free Cash Flow: Dana Incorporated carries a significant debt load, with approximately US$2.62 billion in debt as of June 2024, and net debt around US$2.20 billion. The company's liabilities also substantially outweigh its cash and near-term receivables, creating a deficiency of about US$3.90 billion. Furthermore, Dana has recorded negative free cash flow over the last three years, which makes managing its debt more challenging and expensive.
Cyclical Nature of the Automotive and Commercial Vehicle Industries, and Pricing Pressure from OEMs: Dana operates within cyclical industries, including light vehicle, commercial vehicle, and off-highway markets. This exposes the company to risks associated with weaker macroeconomic environments, fluctuating fuel prices impacting product demand, and persistent pricing pressure from its original equipment manufacturer (OEM) customers, which can hinder profitability.
Inability to Offset Rising Commodity Prices: As a provider of power-conveyance and energy-management solutions, Dana is susceptible to increases in commodity prices. A significant challenge for the company is its potential inability to effectively offset these rising costs, which can negatively impact its profit margins and overall financial outlook.

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Dana Incorporated (NYSE: DAN) operates in several key markets related to power-conveyance and energy-management solutions for vehicles and machinery. The addressable markets for its main products and services are significant globally, driven by ongoing innovations in automotive technology and the accelerating shift towards electrification.

Drive Systems (Light Vehicle, Commercial Vehicle, Off-Highway)

The global driveline market, which encompasses components that transmit power from the engine to the wheels for efficient vehicle performance across passenger and commercial vehicle segments, was valued at approximately USD 307.66 billion in 2023 and is projected to reach USD 575.20 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.2% from 2024 to 2032.
For off-highway vehicles, including construction, earth moving, agricultural, mining, and forestry machinery, the global market size was estimated at USD 544.07 billion in 2024 and is projected to reach USD 804.86 billion by 2030, with a CAGR of 6.9% from 2025 to 2030. The global off-highway vehicle engine market, a key component, was valued at USD 218.61 billion in 2023 and is projected to reach USD 1,077.43 billion by 2032, exhibiting a CAGR of 18.5%.
The global automotive e-axle market, a crucial component in electric and hybrid vehicles, was valued at USD 11.93 billion in 2022 and is expected to grow to USD 37.42 billion by 2030, at a CAGR of 37.7% from 2023 to 2030. More specifically, the global electric vehicle e-axle market size is valued at USD 80.93 billion in 2026, projected to reach USD 288.08 billion by 2034, at a CAGR of 17.20%.

Power Technologies

In the realm of gaskets and sealing, the global automotive seals and gaskets market was valued at USD 26.2 billion in 2024 and is projected to grow to USD 39.3 billion by 2034, with a CAGR of 4.7% between 2025 and 2034. Another estimate places the global automotive seals and gaskets market at USD 31.5 billion in 2025, projected to reach USD 49.8 billion by 2035, expanding at a CAGR of 4.7%.
For thermal management solutions, the global automotive thermal management market is estimated to be valued at USD 102.66 billion in 2025 and is expected to reach USD 154.46 billion by 2032, exhibiting a CAGR of 6.0% from 2025 to 2032. The global automotive battery thermal management system market, a critical area for electric vehicles, was valued at USD 3.83 billion in 2025 and is projected to grow to USD 19.98 billion in 2034, at a CAGR of 19.90%.
For bipolar fuel cell plates, a component in fuel cell technology, the global market size was approximately USD 1.34 billion in 2024 and is predicted to grow to around USD 7.34 billion by 2035, with a CAGR of 16.72% from 2025 to 2035. Another source indicates the fuel cell bipolar plates market is projected to reach USD 6517.1 million (USD 6.517 billion) by 2035, growing at a CAGR of 22.7% during the forecast period 2025-2035.

Dana itself projects its total addressable market for electric vehicles (EV) to grow from approximately USD 2.5 billion in 2020 to USD 18.8 billion in 2030.

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Dana Incorporated (DAN) anticipates several key drivers for its revenue growth over the next two to three years, primarily stemming from its strategic "Dana 2030" plan and ongoing market developments.

New Business Backlog Across Diverse End Markets: Dana is poised for revenue growth due to its robust new business backlog, which encompasses new program awards and expanded vehicle platforms. This includes applications across traditional internal combustion engine (ICE), hybrid, and electric vehicle (EV) technologies within both light vehicle and commercial vehicle segments. The company projects an anticipated sales backlog of $650 million for 2025-2027, with $150 million specifically projected for 2025, and an expected $200 million in incremental new business growth in 2026 from next-generation platforms with global original equipment manufacturers (OEMs).
Expansion in Electrification and Thermal-Management Solutions: A significant driver for Dana's future revenue is its strategic emphasis on technological innovation, particularly in electrification and thermal-management solutions. The company is actively adapting its offerings to meet the automotive industry's shift towards sustainable mobility and cleaner technologies, with a strong focus on electric and hybrid programs.
Growth in Aftermarket Services: Dana is actively pursuing growth opportunities within its aftermarket services. A key initiative supporting this is the expansion of its Dana Certified Reman™ program, which is expected to reach 50 global locations by the end of 2025.
Strategic Focus and Portfolio Optimization on Core On-Highway Markets: Following the planned divestiture of its Off-Highway business, Dana is strategically realigning its portfolio to concentrate resources and efforts on its core on-highway vehicle markets, including light and commercial vehicles. This sharpened focus is intended to enhance operational efficiency and market presence, contributing to revenue growth in these key segments.

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Share Repurchases

Dana plans to execute up to $2 billion in cumulative share repurchases by 2030, building on $750 million already completed under its program.
In full-year 2025, Dana completed a large share repurchase program, retiring 25.38% of its shares for US$653.3 million.
The company executed share repurchases of $23.37 million in the third quarter of 2021 and $25.03 million in the first quarter of 2022.

Outbound Investments

In March 2021, Dana acquired Pi Innovo, a company specializing in control systems and software solutions for vehicle electrification.
Dana established a strategic supply relationship with Lion Electric Co., becoming a preferred supplier of electric drivetrain components for their electric bus and commercial vehicle offerings, including e-Axles, gearboxes, motors, inverters, software and controls, and electronics cooling.
Hydro-Québec contributed cash to Dana TM4, with $14 million in 2021 and $51 million in 2022.

Capital Expenditures

Dana made significant investments in 2023 to support business growth, including a record number of refreshed, conquest, and new program launches.
The company has significantly increased its research and development activities over the past several years, with expenses of $178 million in 2021, $201 million in 2022, and $237 million in 2023, primarily focused on electrification initiatives.

Interactive Breakdown

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Better Bets vs. Dana (DAN)

BorgWarner

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for DAN: -6.2% | 0.5x)

GM (4.8% | 0.4x)

General Motors

F (4.8% | 0.3x)

Ford Motor

MGA (3.0% | 0.4x)

Magna International

BBY (-4.4% | 0.3x)

Best Buy

PAG (4.5% | 0.4x)

Penske Automotive

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DAN: -6.2% | 14.2x)

BKNG (15.2% | 13.8x)

Booking

LOW (-3.7% | 12.6x)

Lowe's Companies

DHI (-0.1% | 10.8x)

D.R. Horton

CCL (23.1% | 8.0x)

Carnival

LVS (44.9% | 10.5x)

Las Vegas Sands

Higher Rev Chg LTM (Value for DAN: -4.5%)

AMZN (14.2%)

Amazon.com

HD (7.5%)

Home Depot

TJX (7.1%)

TJX Companies

MCD (6.8%)

McDonald's

TSLA (2.3%)

Tesla

Higher Rev Chg 3Y Avg (Value for DAN: -6.2%)

AMZN (12.3%)

Amazon.com

TJX (6.5%)

TJX Companies

MCD (5.5%)

McDonald's

TSLA (4.5%)

Tesla

HD (1.9%)

Home Depot

Higher Op Mgn LTM (Value for DAN: 3.6%)

MCD (46.0%)

McDonald's

HD (13.0%)

Home Depot

TJX (11.9%)

TJX Companies

AMZN (11.5%)

Amazon.com

TSLA (5.4%)

Tesla

Higher CFO/Rev LTM (Value for DAN: 6.3%)

MCD (38.4%)

McDonald's

AMZN (20.0%)

Amazon.com

TSLA (16.9%)

Tesla

TJX (11.4%)

TJX Companies

HD (10.6%)

Home Depot

Higher FCF/Rev LTM (Value for DAN: 3.7%)

BKNG (32.6%)

Booking

MCD (25.6%)

McDonald's

HD (8.4%)

Home Depot

TJX (8.1%)

TJX Companies

TSLA (7.2%)

Tesla

Higher Total Yield (Value for DAN: 3.4%)

HD (7.5%)

Home Depot

LOW (7.3%)

Lowe's Companies

MCD (7.1%)

McDonald's

BKNG (5.7%)

Booking

TJX (4.3%)

TJX Companies

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for DAN: -6.2% | 0.5x)

CVS (7.2% | 0.3x)

CVS Health

MCK (13.4% | 0.2x)

McKesson

ELV (7.7% | 0.4x)

Elevance Health

CI (15.2% | 0.3x)

Cigna

COR (9.9% | 0.2x)

Cencora

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DAN: -6.2% | 14.2x)

TMUS (4.7% | 11.7x)

T-Mobile US

VZ (0.7% | 6.7x)

Verizon Communications

DIS (3.8% | 13.7x)

Walt Disney

T (1.3% | 7.1x)

AT&T

GILD (3.2% | 13.7x)

Gilead Sciences

Higher Rev Chg LTM (Value for DAN: -4.5%)

NVDA (65.5%)

NVIDIA

AVGO (25.2%)

Broadcom

MSFT (17.9%)

Microsoft

GOOGL (17.5%)

Alphabet

AAPL (12.8%)

Apple

Higher Rev Chg 3Y Avg (Value for DAN: -6.2%)

NVDA (101.8%)

NVIDIA

AVGO (26.2%)

Broadcom

MSFT (15.3%)

Microsoft

GOOGL (14.1%)

Alphabet

AAPL (5.6%)

Apple

Higher Op Mgn LTM (Value for DAN: 3.6%)

NVDA (60.4%)

NVIDIA

MSFT (46.8%)

Microsoft

AVGO (41.5%)

Broadcom

GOOGL (32.7%)

Alphabet

AAPL (32.6%)

Apple

Higher CFO/Rev LTM (Value for DAN: 6.3%)

MSFT (53.5%)

Microsoft

NVDA (47.6%)

NVIDIA

AVGO (43.5%)

Broadcom

GOOGL (41.3%)

Alphabet

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for DAN: 3.7%)

NVDA (44.8%)

NVIDIA

AVGO (42.3%)

Broadcom

AAPL (28.6%)

Apple

MSFT (22.9%)

Microsoft

GOOGL (15.2%)

Alphabet

Higher Total Yield (Value for DAN: 3.4%)

BRK-B (7.1%)

Berkshire Hathaway

META (4.9%)

Meta Platforms

MSFT (4.9%)

Microsoft

LLY (3.6%)

Eli Lilly

GOOGL (3.5%)

Alphabet

Best Bets in Consumer Discretionary

What You Pay

P/EBIT (Value for DAN: 19.0x)

ABNB (32.6x)

Airbnb

DUOL (32.3x)

Duolingo

BKNG (14.5x)

Booking

PRDO (9.6x)

Perdoceo Education

LOPE (14.1x)

Grand Canyon Education

MCRI (15.4x)

Monarch Casino & Resort

GRMN (23.4x)

Garmin

DECK (10.7x)

Deckers Outdoor

ALSN (12.3x)

Allison Transmission

EXPE (12.8x)

Expedia

P/E (Value for DAN: 47.8x)

ABNB (33.6x)

Airbnb

DUOL (12.0x)

Duolingo

BKNG (21.3x)

Booking

PRDO (13.2x)

Perdoceo Education

LOPE (20.2x)

Grand Canyon Education

MCRI (19.4x)

Monarch Casino & Resort

GRMN (26.6x)

Garmin

DECK (13.9x)

Deckers Outdoor

ALSN (19.0x)

Allison Transmission

EXPE (18.8x)

Expedia

What You Get

Rev Chg 3Y Avg (Value for DAN: -6.2%)

ABNB (13.3%)

Airbnb

DUOL (39.6%)

Duolingo

BKNG (15.2%)

Booking

PRDO (6.8%)

Perdoceo Education

LOPE (7.1%)

Grand Canyon Education

MCRI (4.6%)

Monarch Casino & Resort

GRMN (15.6%)

Garmin

DECK (14.7%)

Deckers Outdoor

ALSN (8.9%)

Allison Transmission

EXPE (7.9%)

Expedia

Rev Chg LTM (Value for DAN: -4.5%)

ABNB (12.6%)

Airbnb

DUOL (35.5%)

Duolingo

BKNG (15.0%)

Booking

PRDO (17.7%)

Perdoceo Education

LOPE (7.4%)

Grand Canyon Education

MCRI (5.8%)

Monarch Casino & Resort

GRMN (15.7%)

Garmin

DECK (9.2%)

Deckers Outdoor

ALSN (14.0%)

Allison Transmission

EXPE (10.0%)

Expedia

Rev Chg Q (Value for DAN: 5.2%)

ABNB (17.9%)

Airbnb

DUOL (26.5%)

Duolingo

BKNG (16.2%)

Booking

PRDO (4.1%)

Perdoceo Education

LOPE (6.7%)

Grand Canyon Education

MCRI (8.9%)

Monarch Casino & Resort

GRMN (14.2%)

Garmin

DECK (7.1%)

Deckers Outdoor

ALSN (83.6%)

Allison Transmission

EXPE (14.7%)

Expedia

FCF/Rev 3Y Avg (Value for DAN: 2.0%)

ABNB (38.7%)

Airbnb

DUOL (35.0%)

Duolingo

BKNG (32.9%)

Booking

PRDO (23.9%)

Perdoceo Education

LOPE (22.6%)

Grand Canyon Education

MCRI (21.4%)

Monarch Casino & Resort

GRMN (21.0%)

Garmin

DECK (20.8%)

Deckers Outdoor

ALSN (19.4%)

Allison Transmission

EXPE (18.9%)

Expedia

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Dana Earnings Notes	12/29/2026
2	Would You Still Hold Dana Stock If It Fell 30%?	10/17/2025
3	DAN Jumps 5.9% In A Day: How Does It Stack Against Peers?	08/23/2025
4	Better Bet Than DAN Stock: Pay Less Than Dana To Get More From ALSN	08/14/2025
5	Dana (DAN) Operating Cash Flow Comparison	08/08/2025
6	Dana (DAN) Operating Income Comparison	08/08/2025
7	Dana (DAN) EBITDA Comparison	08/08/2025
8	Dana (DAN) Net Income Comparison	08/08/2025
9	ARTICLES
10	Small Cap Stocks Trading At 52-Week High	04/21/2026
11	Dana Stock (+11%): Margin Guidance Hike Forces Re-Rate	01/22/2026
12	DAN Shares Rally 5.9% In A Day: How Does the Competition Measure Up?	08/22/2025
13	Better Bet Than Dana Stock: Pay Less To Get More From ALSN	08/14/2025

	Title
0	DASHBOARDS
1	Dana Earnings Notes
2	Would You Still Hold Dana Stock If It Fell 30%?
3	DAN Jumps 5.9% In A Day: How Does It Stack Against Peers?
4	Better Bet Than DAN Stock: Pay Less Than Dana To Get More From ALSN
5	Dana (DAN) Operating Cash Flow Comparison
6	Dana (DAN) Operating Income Comparison
7	Dana (DAN) EBITDA Comparison
8	Dana (DAN) Net Income Comparison
9	ARTICLES
10	Small Cap Stocks Trading At 52-Week High
11	Dana Stock (+11%): Margin Guidance Hike Forces Re-Rate
12	DAN Shares Rally 5.9% In A Day: How Does the Competition Measure Up?
13	Better Bet Than Dana Stock: Pay Less To Get More From ALSN

Trade Ideas

Select ideas related to DAN.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
FUN_4302026_Short_Squeeze	04302026	FUN	Six Flags Entertainment	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	0.0%	0.0%	0.0%
MGM_4242026_Insider_Buying_GTE_1Mil_EBITp+DE_V2	04242026	MGM	MGM Resorts International	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	-1.5%	-1.5%	-1.5%
WEN_4242026_Short_Squeeze	04242026	WEN	Wendy's	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-2.5%	-2.5%	-5.3%
WHR_4102026_Short_Squeeze	04102026	WHR	Whirlpool	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-0.8%	-0.8%	-4.8%
SKY_4022026_Dip_Buyer_FCFYield	04022026	SKY	Champion Homes	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.1%	3.1%	-1.2%
DAN_3312020_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	03312020	DAN	Dana	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	57.9%	212.8%	-12.2%

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FLNC	Fluence Energy	3.2	98.2%	22.1%
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AAON	AAON	11.4	49.2%	83.4%
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XMTR	Xometry	4.1	49.1%	34.5%

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EMBC	Embecta	0.2	-60.6%	-68.9%
FWRD	Forward Air	0.3	-53.7%	-60.5%
TRDA	Entrada Therapeutics	0.3	-52.8%	-33.5%
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VITL	Vital Farms	0.4	-37.0%	-72.0%
BETR	Better Home & Finance	0.5	-32.2%	-7.7%
TMDX	TransMedics	2.3	-32.2%	-44.2%

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MXL	MaxLinear	8.7	403.2%	472.7%
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INOD	Innodata	2.7	135.2%	66.6%
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EMBC	Embecta	0.2	-59.0%	-68.9%
TRDA	Entrada Therapeutics	0.3	-51.3%	-33.5%
CAR	Avis Budget	5.1	-50.9%	13.6%
FWRD	Forward Air	0.3	-47.7%	-60.5%
ERAS	Erasca	2.9	-41.7%	172.0%
ULH	Universal Logistics	0.3	-41.7%	-13.6%
TMDX	TransMedics	2.3	-37.9%	-44.2%
VISN	Vistance Networks	2.6	-37.4%	-36.4%
PLNT	Planet Fitness	3.8	-36.6%	-57.7%
INSM	Insmed	21.7	-36.5%	-41.8%

Peer Comparisons

Peers to compare with:

Financials

	DAN	BWA	MGA	CMI	LEA	ALSN	Median
Name	Dana	BorgWarn.	Magna In.	Cummins	Lear	Allison .
Mkt Price	34.70	61.32	63.11	679.55	139.69	124.18	93.65
Mkt Cap	4.1	12.6	17.6	94.0	7.1	10.3	11.4
Rev LTM	8,071	14,334	42,322	33,894	23,522	3,650	18,928
Op Inc LTM	287	1,350	2,246	3,851	851	855	1,102
FCF LTM	298	1,254	2,934	2,671	732	609	993
FCF 3Y Avg	162	897	1,674	1,745	611	637	767
CFO LTM	512	1,718	4,198	3,933	1,315	811	1,516
CFO 3Y Avg	479	1,507	3,610	2,963	1,197	795	1,352

Growth & Margins

	DAN	BWA	MGA	CMI	LEA	ALSN	Median
Name	Dana	BorgWarn.	Magna In.	Cummins	Lear	Allison .
Rev Chg LTM	-4.5%	2.3%	0.9%	0.1%	-17.3%	14.0%	0.5%
Rev Chg 3Y Avg	-6.2%	1.6%	3.0%	4.2%	4.3%	8.9%	3.6%
Rev Chg Q	5.2%	0.5%	3.1%	2.7%	4.7%	83.6%	3.9%
QoQ Delta Rev Chg LTM	1.2%	0.1%	0.7%	0.7%	1.1%	21.3%	0.9%
Op Inc Chg LTM	403.5%	2.4%	11.4%	8.1%	-18.3%	-15.2%	5.3%
Op Inc Chg 3Y Avg	152.2%	4.5%	15.7%	48.5%	5.1%	2.6%	10.4%
Op Mgn LTM	3.6%	9.4%	5.3%	11.4%	3.6%	23.4%	7.4%
Op Mgn 3Y Avg	1.1%	9.3%	5.0%	8.5%	3.7%	28.3%	6.7%
QoQ Delta Op Mgn LTM	1.9%	0.2%	0.3%	-0.1%	0.3%	-6.8%	0.2%
CFO/Rev LTM	6.3%	12.0%	9.9%	11.6%	5.6%	22.2%	10.8%
CFO/Rev 3Y Avg	6.0%	10.6%	8.5%	8.7%	4.8%	24.1%	8.6%
FCF/Rev LTM	3.7%	8.7%	6.9%	7.9%	3.1%	16.7%	7.4%
FCF/Rev 3Y Avg	2.0%	6.3%	4.0%	5.1%	2.5%	19.4%	4.5%

Valuation

	DAN	BWA	MGA	CMI	LEA	ALSN	Median
Name	Dana	BorgWarn.	Magna In.	Cummins	Lear	Allison .
Mkt Cap	4.1	12.6	17.6	94.0	7.1	10.3	11.4
P/S	0.5	0.9	0.4	2.8	0.3	2.8	0.7
P/Op Inc	14.2	9.3	7.8	24.4	8.4	12.1	10.7
P/EBIT	19.0	17.6	12.3	22.9	8.8	12.3	15.0
P/E	47.8	34.8	26.2	35.2	13.5	19.0	30.5
P/CFO	7.9	7.3	4.2	23.9	5.4	12.7	7.6
Total Yield	3.4%	3.4%	6.9%	4.0%	9.7%	5.5%	4.8%
Dividend Yield	1.3%	0.6%	3.1%	1.1%	2.3%	0.2%	1.2%
FCF Yield 3Y Avg	7.1%	11.0%	12.8%	3.2%	9.8%	7.8%	8.8%
D/E	0.9	0.3	0.4	0.1	0.4	0.4	0.4
Net D/E	0.7	0.2	0.3	0.1	0.3	0.4	0.3

Returns

	DAN	BWA	MGA	CMI	LEA	ALSN	Median
Name	Dana	BorgWarn.	Magna In.	Cummins	Lear	Allison .
1M Rtn	-4.5%	12.6%	9.1%	10.3%	12.1%	-3.4%	9.7%
3M Rtn	10.3%	17.8%	17.7%	18.0%	-0.3%	7.7%	14.0%
6M Rtn	60.9%	37.4%	28.8%	44.7%	28.6%	52.4%	41.0%
12M Rtn	126.0%	96.7%	89.1%	125.7%	58.8%	27.3%	92.9%
3Y Rtn	173.7%	62.5%	33.7%	235.4%	20.5%	171.2%	116.9%
1M Excs Rtn	-12.0%	3.1%	0.8%	2.8%	3.2%	-11.0%	1.8%
3M Excs Rtn	3.5%	11.0%	11.0%	11.3%	-7.0%	0.9%	7.3%
6M Excs Rtn	54.5%	28.7%	19.7%	47.1%	20.9%	45.8%	37.3%
12M Excs Rtn	111.5%	74.0%	65.8%	100.9%	36.3%	-2.2%	69.9%
3Y Excs Rtn	85.5%	-24.7%	-43.0%	143.3%	-56.8%	91.1%	30.4%

Comparison Analyses

	Title
0	Dana vs. BorgWarner: With Return Forecast Of 19%, Dana Is A Better Bet
1	Why LEA With 13% Upside May Beat DAN?
2	ADNT Could Deliver 5.0% Returns And Outperform DAN
3	With 35% Gains On The Table, GNTX May Outshine DAN
4	Dana vs. National Vision Holdings: With Return Forecast Of 34%-37%, Both Seem Like Good Bets
5	Dana vs. Badger Meter: With Return Forecast Of 34%, Dana Is A Better Bet
6	Dana vs. ViaSat: With Return Forecast Of 34%-38%, Both Seem Like Good Bets
7	Dana vs. Veeva Systems: With Return Forecast Of 87%, Veeva Systems Is A Better Bet
8	Dana vs. Autodesk: With Return Forecast Of 21%, Autodesk Is A Better Bet
9	Dana vs. Analog Devices: With Return Forecast Of 6.4%, Dana Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/27/2026	2/27/2026	2/20/2025	2/20/2024	2/21/2023	2/23/2022	2/18/2021
Key Financials
Total Revenue	8,071	7,500	7,734	7,613	10,156	8,945	7,106
EBITDA	571	506	187	221	485	764	490
Operating Income	287	213	-49	-71	262	353	201
Net Income	85	85	-57	38	-242	197	-31
EPS	0.68	0.64	-0.39	0.26	-1.69	1.36	-0.21
Growth Rates
Total Revenue Growth	-4.5%	-3.0%	1.6%	-25.0%	13.5%	25.9%	-17.6%
EBITDA Growth	92.9%	170.6%	-15.4%	-54.4%	-36.5%	55.9%	-22.5%
Operating Income Growth	403.5%	534.7%	31.0%	-127.1%	-25.8%	75.6%	-45.2%
Net Income Growth	249.1%	249.1%	-250.0%	115.7%	-222.8%	735.5%	-113.7%
Margins
EBITDA Margin	7.1%	6.7%	2.4%	2.9%	4.8%	8.5%	6.9%
Operating Income Margin	3.6%	2.8%	-0.6%	-0.9%	2.6%	3.9%	2.8%
Net Income Margin	1.1%	1.1%	-0.7%	0.5%	-2.4%	2.2%	-0.4%
Cash & Debt
Total Cash	469	469	494	529	425	285	580
Total Debt	3,518	3,518	2,879	2,981	2,721	2,669	2,651
Net Debt / (Cash)	3,049	3,049	2,385	2,452	2,296	2,384	2,071
Cash Flows
Net Cash from Operations	512	512	450	476	649	158	386
Free Cash from Operations	298	298	138	49	209	-211	60
Returns to Shareholders
Dividends	54	54	58	58	58	58	15
Share Repurchases	393	650	-0	-0	25	23	-0

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/27/2026	10/31/2025	8/11/2025	4/30/2025	2/20/2025	10/30/2024	7/31/2024	4/30/2024	2/20/2024	10/27/2023	7/28/2023	4/28/2023
Key Financials Quarterly
Total Revenue	1,867	1,917	1,935	2,352	1,774	1,897	2,047	2,735	-448	2,669	2,748	2,644
Ebitda	155	145	95	176	-26	83	59	180	-401	203	228	191
Operating Income	83	78	39	87	-70	14	10	103	-399	111	130	87
Net Income	-50	83	27	25	-80	4	16	3	-39	19	30	28
EPS	-0.33	0.65	0.19	0.17	-0.55	0.03	0.11	0.02	-0.27	0.13	0.21	0.19
Key Financials TTM
Total Revenue TTM	8,071	7,978	7,958	8,070	8,453	6,231	7,003	7,704	7,613	10,616	10,482	10,320
Ebitda TTM	571	390	328	292	296	-79	41	210	221	790	582	511
Operating Income TTM	287	134	70	41	57	-272	-175	-55	-71	391	366	286
Net Income TTM	85	55	-24	-35	-57	-16	-1	13	38	-102	-209	-231
Growth Rates Quarterly
Total Revenue Growth	5.2%	1.1%	-5.5%	-14.0%	496.0%	-28.9%	-25.5%	3.4%	-117.5%	5.3%	6.3%	6.6%
EBITDA Growth	696.2%	74.7%	61.0%	-2.2%	93.5%	-59.1%	-74.1%	-5.8%	-338.7%	4160.0%	45.2%	15.8%
Operating Income Growth	218.6%	457.1%	290.0%	-15.5%	82.5%	-87.4%	-92.3%	18.4%	-733.3%	29.1%	160.0%	38.1%
Net Income Growth	37.5%	1975.0%	68.8%	733.3%	-105.1%	-78.9%	-46.7%	-89.3%	78.2%	121.6%	275.0%	64.7%
Margins Quarterly
EBITDA Margin	8.3%	7.6%	4.9%	7.5%	-1.5%	4.4%	2.9%	6.6%	-	7.6%	8.3%	7.2%
Operating Income Margin	4.4%	4.1%	2.0%	3.7%	-3.9%	0.7%	0.5%	3.8%	-	4.2%	4.7%	3.3%
Net Income Margin	-2.7%	4.3%	1.4%	1.1%	-4.5%	0.2%	0.8%	0.1%	-	0.7%	1.1%	1.1%
Cash & Debt
Total Cash	469	414	486	507	494	419	419	351	529	421	484	401
Total Debt	3,518	3,532	3,401	3,081	2,879	2,985	2,920	2,939	2,981	2,956	2,976	2,998
Net Debt / (Cash)	3,049	3,118	2,915	2,574	2,385	2,566	2,501	2,588	2,452	2,535	2,492	2,597
Cash Flows Quarterly
FCF from Operations	406	111	32	-37	302	35	215	-102	278	112	256	-170
Cash Flows TTM
FCF from Operations TTM	512	408	332	515	450	426	503	544	476	540	599	600
Returns to Shareholders Quarterly
Dividends	12	13	14	15	15	14	14	15	15	14	14	15
Share Repurchases	211	182	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	9.2%	8.0%	4.0%	7.3%	-8.0%	0.8%	1.1%	10.8%	-32.5%	4.7%	5.3%	4.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	7.9%	3.4%	1.8%	1.1%	1.6%	-6.1%	-4.4%	-1.4%	-1.9%	10.4%	9.7%	7.4%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Light Vehicle	5,399	4,225	4,256	3,939	3,142
Commercial Vehicle	2,573	2,216	2,089	1,632	1,255
Elimination of inter-segment sales	-238	-400
Off-Highway		3,246	3,010	2,660	2,014
Power Technologies		1,268	1,169	1,070	936
Eliminations and other			-368	-356	-241
Total	7,734	10,555	10,156	8,945	7,106

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Property, plant and equipment, net	1,830
Accounts payable	1,120
Current assets of disposal group held for sale	923
Noncurrent assets of disposal group held for sale	855
Deferred tax assets	514
Cash and cash equivalents	494
Light Vehicle	463
Commercial Vehicle	426
Operating lease assets	260
Accounts receivable - Other	220
Other current assets	130
Investments in affiliates	125
Other noncurrent assets	118
Intangibles	80
Corporate	-72
Total	7,486

Price Behavior

Price Behavior

Market Price	$34.70
Market Cap ($ Bil)	4.1
First Trading Date	01/02/2008
Distance from 52W High	-10.6%
	50 Days	200 Days
DMA Price	$34.43	$25.56
DMA Trend	up	up
Distance from DMA	0.8%	35.8%
	3M	1YR
Volatility	38.3%	36.6%
Downside Capture	0.78	0.49
Upside Capture	168.58	165.91
Correlation (SPY)	58.8%	46.3%

DAN Betas & Captures as of 4/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.92	1.59	1.46	1.59	1.39	1.55
Up Beta	2.64	2.29	2.16	2.23	1.87	1.57
Down Beta	2.08	1.23	1.05	1.28	1.03	1.49
Up Capture	108%	158%	195%	271%	263%	553%
Bmk +ve Days	15	22	31	66	141	428
Stock +ve Days	14	22	35	69	135	393
Down Capture	-333%	113%	71%	81%	77%	109%
Bmk -ve Days	4	18	30	56	108	321
Stock -ve Days	8	21	29	55	115	353

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DAN
DAN	143.8%	37.0%	2.47	-
Sector ETF (XLY)	21.8%	18.7%	0.92	48.1%
Equity (SPY)	29.0%	12.5%	1.83	47.0%
Gold (GLD)	39.8%	27.0%	1.22	9.6%
Commodities (DBC)	50.6%	18.0%	2.21	-8.7%
Real Estate (VNQ)	13.0%	13.5%	0.66	24.4%
Bitcoin (BTCUSD)	-17.4%	42.1%	-0.34	18.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DAN
DAN	9.1%	46.7%	0.34	-
Sector ETF (XLY)	7.1%	23.8%	0.26	57.4%
Equity (SPY)	12.8%	17.1%	0.59	58.6%
Gold (GLD)	20.9%	17.9%	0.95	8.8%
Commodities (DBC)	13.8%	19.1%	0.59	14.8%
Real Estate (VNQ)	3.4%	18.8%	0.08	47.4%
Bitcoin (BTCUSD)	7.0%	56.0%	0.34	22.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DAN
DAN	12.8%	49.7%	0.44	-
Sector ETF (XLY)	12.9%	22.0%	0.54	60.6%
Equity (SPY)	15.1%	17.9%	0.72	61.0%
Gold (GLD)	13.4%	15.9%	0.69	3.9%
Commodities (DBC)	9.3%	17.8%	0.44	26.5%
Real Estate (VNQ)	5.8%	20.7%	0.24	49.7%
Bitcoin (BTCUSD)	67.8%	66.9%	1.07	18.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	4152026
Short Interest: Shares Quantity	3.9 Mil
Short Interest: % Change Since 3312026	-0.4%
Average Daily Volume	0.9 Mil
Days-to-Cover Short Interest	4.4 days
Basic Shares Quantity	117.2 Mil
Short % of Basic Shares	3.3%

Returns Analyses

	Title
0	Would You Still Hold Dana Stock If It Fell 30%?
1	Dana Stock Return Comparison
2	[10/13/2021] Dana (DAN) Stock Price Forecast: AI Forecasts DAN Stock Price To Be Around $24.60 In A Month (Up 1.5%)
3	Dana Total Shareholder Return (TSR): -31.9% in 2022 and -4.4% 3-yr returns (below peer average)
4	Dana (DAN) Stock Return: AI Predicts DAN Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
4/29/2026	-4.8%	-8.0%
2/18/2026	5.8%	8.7%	-1.5%
10/29/2025	7.6%	2.5%	12.8%
8/5/2025	7.4%	16.6%	32.8%
4/30/2025	5.8%	12.5%	30.0%
1/24/2025	14.9%	25.3%	16.2%
10/30/2024	-17.3%	-20.8%	0.9%
7/31/2024	8.0%	-8.6%	-5.3%
...
SUMMARY STATS
# Positive	11	11	12
# Negative	11	11	9
Median Positive	7.4%	8.6%	14.5%
Median Negative	-7.8%	-8.6%	-6.9%
Max Positive	14.9%	25.3%	32.8%
Max Negative	-17.3%	-20.9%	-19.2%

	Forward Returns
4/29/2026	-4.8%	-8.0%
2/18/2026	5.8%	8.7%	-1.5%
10/29/2025	7.6%	2.5%	12.8%
8/5/2025	7.4%	16.6%	32.8%
4/30/2025	5.8%	12.5%	30.0%
1/24/2025	14.9%	25.3%	16.2%
10/30/2024	-17.3%	-20.8%	0.9%
7/31/2024	8.0%	-8.6%	-5.3%
4/30/2024	-1.5%	5.9%	8.2%
2/20/2024	-7.8%	-9.8%	-11.7%
10/27/2023	-0.7%	-9.4%	2.4%
7/28/2023	0.8%	-3.1%	-16.7%
2/21/2023	2.8%	2.0%	-10.8%
10/27/2022	11.9%	8.6%	25.6%
8/3/2022	-3.9%	-5.2%	-6.9%
2/23/2022	-9.7%	-20.9%	-19.2%
10/26/2021	-12.2%	-9.2%	-2.5%
8/5/2021	2.3%	4.8%	-1.6%
2/18/2021	-8.0%	9.2%	12.6%
10/28/2020	-2.3%	1.5%	21.4%
7/30/2020	-7.8%	-0.4%	7.7%
4/30/2020	10.2%	-3.9%	21.1%
SUMMARY STATS
# Positive	11	11	12
# Negative	11	11	9
Median Positive	7.4%	8.6%	14.5%
Median Negative	-7.8%	-8.6%	-6.9%
Max Positive	14.9%	25.3%	32.8%
Max Negative	-17.3%	-20.9%	-19.2%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/27/2026	10-K
09/30/2025	10/31/2025	10-Q
06/30/2025	08/11/2025	10-Q
03/31/2025	04/30/2025	10-Q
12/31/2024	02/20/2025	10-K
09/30/2024	10/30/2024	10-Q
06/30/2024	07/31/2024	10-Q
03/31/2024	04/30/2024	10-Q
12/31/2023	02/20/2024	10-K
09/30/2023	10/27/2023	10-Q
06/30/2023	07/28/2023	10-Q
03/31/2023	04/28/2023	10-Q
12/31/2022	02/21/2023	10-K
09/30/2022	10/27/2022	10-Q
06/30/2022	08/03/2022	10-Q
03/31/2022	04/28/2022	10-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 4/29/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Revenue	7.30 Bil	7.50 Bil	7.70 Bil	0		Affirmed	Guidance: 7.50 Bil for 2026
2026 Operating Income	750.00 Mil	800.00 Mil	850.00 Mil	0		Affirmed	Guidance: 800.00 Mil for 2026
2026 Operating Margin	10.0%	10.5%	11.0%	0	0	Affirmed	Guidance: 10.5% for 2026
2026 EPS	2	2.5	3	0		Affirmed	Guidance: 2.5 for 2026
2026 Free Cash Flow	250.00 Mil	300.00 Mil	350.00 Mil	0		Affirmed	Guidance: 300.00 Mil for 2026
2030 Revenue		10.00 Bil		0		Affirmed	Guidance: 10.00 Bil for 2030
2030 Operating Margin	14.0%	14.5%	15.0%	0	0	Affirmed	Guidance: 14.5% for 2030

Prior: Q4 2025 Earnings Reported 2/18/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Revenue	7.30 Bil	7.50 Bil	7.70 Bil	1.4%		Higher New	Actual: 7.40 Bil for 2025
2026 Operating Income	750.00 Mil	800.00 Mil	850.00 Mil	35.6%		Higher New	Actual: 590.00 Mil for 2025
2026 Operating Margin	10.0%	10.5%	11.0%	2.4%	0.2%	Raised	Guidance: 10.25% for 2026
2026 EPS	2	2.5	3
2026 Free Cash Flow	250.00 Mil	300.00 Mil	350.00 Mil	1.4%		Raised	Guidance: 296.00 Mil for 2026
2030 Revenue		10.00 Bil
2030 Operating Margin	14.0%	14.5%	15.0%
2030 Free Cash Flow		0.06

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Price, Craig C	SVP & Pres Off-Highway Drive	Direct	Sell	11262025	22.44	13,300	298,475	301,752	Form
2	Kellett, James D	VP & Chief Accounting Officer	Direct	Sell	8132025	18.65	11,728			Form

DAN Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing DAN?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What DAN Makes & Who Pays

TTM figures based on

DAN Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Dana (DAN)

Market Price (5/11/2026): $34.685 | Market Cap: $4.1 BilSector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Dana (DAN)

Market Price (5/11/2026): $34.685Market Cap: $4.1 BilSector: Consumer DiscretionaryIndustry: Automotive Parts & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Dana (DAN)

Drive Systems (Light Vehicle, Commercial Vehicle, Off-Highway)

Power Technologies

Interactive Breakdown

Better Bets vs. Dana (DAN)

INDUSTRY: Automotive Parts & Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for DAN: -6.2% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DAN: -6.2% | 14.2x)

Higher Rev Chg LTM (Value for DAN: -4.5%)

Higher Rev Chg 3Y Avg (Value for DAN: -6.2%)

Higher Op Mgn LTM (Value for DAN: 3.6%)

Higher CFO/Rev LTM (Value for DAN: 6.3%)

Higher FCF/Rev LTM (Value for DAN: 3.7%)

Higher Total Yield (Value for DAN: 3.4%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for DAN: -6.2% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DAN: -6.2% | 14.2x)

Higher Rev Chg LTM (Value for DAN: -4.5%)

Higher Rev Chg 3Y Avg (Value for DAN: -6.2%)

Higher Op Mgn LTM (Value for DAN: 3.6%)

Higher CFO/Rev LTM (Value for DAN: 6.3%)

Higher FCF/Rev LTM (Value for DAN: 3.7%)

Higher Total Yield (Value for DAN: 3.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for DAN: -6.2% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DAN: -6.2% | 14.2x)

Higher Rev Chg LTM (Value for DAN: -4.5%)

Higher Rev Chg 3Y Avg (Value for DAN: -6.2%)

Higher Op Mgn LTM (Value for DAN: 3.6%)

Higher CFO/Rev LTM (Value for DAN: 6.3%)

Higher FCF/Rev LTM (Value for DAN: 3.7%)

Higher Total Yield (Value for DAN: 3.4%)

Best Bets in Consumer Discretionary

P/EBIT (Value for DAN: 19.0x)

P/E (Value for DAN: 47.8x)

Rev Chg 3Y Avg (Value for DAN: -6.2%)

Rev Chg LTM (Value for DAN: -4.5%)

Rev Chg Q (Value for DAN: 5.2%)

FCF/Rev 3Y Avg (Value for DAN: 2.0%)

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Market Price (5/11/2026): $34.685 | Market Cap: $4.1 Bil
Sector: Consumer Discretionary | Industry: Automotive Parts & Equipment

Market Price (5/11/2026): $34.685
Market Cap: $4.1 Bil
Sector: Consumer Discretionary
Industry: Automotive Parts & Equipment