DANA Inc DAN
Dana Incorporated (Dana), with history dating back to 1904, is headquartered in Maumee, Ohio. We are a world leader in providing power-conveyance and energy-management solutions for on-highway vehicles. The company's portfolio improves the efficiency, performance, and sustainability of light and commercial vehicles. From axles, driveshafts, transmissions, sealing and thermal products to electrification products including motors, inverters, controllers, e-sealing, e-thermal and digital solutions, we enable the propulsion of internal combustion engine (ICE), hybrid and electric powered vehicles by supplying nearly every major on-highway vehicle manufacturer in the world. As of December 31, 2025 excluding the Off-Highway business which is presented as a discontinued operation, we employed approximately 26,900 people and operated in 24 countries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.50B | $7.73B | $7.61B | $10.16B | $8.95B | $7.11B | $8.62B | $8.14B | $7.21B | $5.83B |
| Cost of revenue | $6.90B | $7.36B | $7.24B | $9.39B | $8.11B | $6.49B | $7.49B | $6.99B | $6.14B | $4.99B |
| Gross profit | $602.0M | $378.0M | $377.0M | $763.0M | $837.0M | $621.0M | $1.13B | $1.16B | $1.07B | $835.0M |
| R&D | $105.0M | $184.0M | $196.0M | $201.0M | $178.0M | $146.0M | $112.0M | $103.0M | $102.0M | $81.0M |
| SG&A | $387.0M | $429.0M | $440.0M | $495.0M | $460.0M | $421.0M | $508.0M | $499.0M | $508.0M | $401.0M |
| Operating income | $139.0M | -$176.0M | -$108.0M | $86.0M | $395.0M | $124.0M | $292.0M | $579.0M | $490.0M | $332.0M |
| Interest expense | $181.0M | $158.0M | $152.0M | $128.0M | $131.0M | $138.0M | $122.0M | $96.0M | $102.0M | $113.0M |
| Pre-tax income | -$32.0M | -$321.0M | -$246.0M | -$31.0M | $244.0M | -$13.0M | $171.0M | $494.0M | $380.0M | $215.0M |
| Income tax | $53.0M | $31.0M | $7.0M | $284.0M | $72.0M | $58.0M | $32.0M | $78.0M | $283.0M | $424.0M |
| Net income | $85.0M | -$57.0M | $38.0M | -$242.0M | $197.0M | -$31.0M | $226.0M | $427.0M | $111.0M | $640.0M |
| EPS, basic | 0.64 | -0.39 | 0.26 | -1.69 | 1.36 | -0.21 | 1.57 | 2.94 | 0.72 | 4.38 |
| EPS, diluted | 0.64 | -0.39 | 0.26 | -1.69 | 1.35 | -0.21 | 1.56 | 2.91 | 0.71 | 4.36 |
| Shares, diluted (wtd. avg.) | $133.7M | $145.2M | $144.4M | $143.6M | $146.2M | $144.5M | $145.1M | $146.5M | $146.9M | $146.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $469.0M | $494.0M | $529.0M | $425.0M | $268.0M | $559.0M | $508.0M | $510.0M | $603.0M | $707.0M |
| Short-term investments | — | — | — | — | $17.0M | $21.0M | $19.0M | — | — | — |
| Receivables | $987.0M | $890.0M | $1.37B | $1.37B | $1.32B | $1.20B | $1.10B | $1.06B | $994.0M | $721.0M |
| Inventory | $1.01B | $1.05B | $1.68B | $1.61B | $1.56B | $1.15B | $1.19B | $1.03B | $969.0M | $638.0M |
| Total current assets | $3.87B | $3.70B | $4.10B | $3.83B | $3.59B | $3.29B | $3.16B | $2.91B | $2.88B | $2.28B |
| Property, plant and equipment | — | — | — | — | — | — | $2.27B | $1.85B | $1.81B | $1.41B |
| Goodwill | — | $250.0M | $263.0M | $259.0M | $482.0M | $479.0M | $493.0M | $264.0M | $127.0M | $90.0M |
| Other intangibles | $71.0M | $80.0M | $100.0M | $201.0M | $233.0M | $236.0M | $240.0M | $164.0M | $174.0M | $109.0M |
| Total assets | $7.81B | $7.49B | $7.95B | $7.45B | $7.63B | $7.38B | $7.22B | $5.92B | $5.64B | $4.86B |
| Accounts payable | $1.15B | $1.12B | $1.20B | $1.84B | $1.57B | $1.33B | $1.25B | $1.22B | $1.17B | $819.0M |
| Short-term debt | $615.0M | $8.0M | $22.0M | $52.0M | $23.0M | $26.0M | $14.0M | $8.0M | $17.0M | $69.0M |
| Total current liabilities | $3.31B | $2.56B | $2.60B | $2.48B | $2.17B | $1.94B | $1.84B | $1.75B | $1.70B | $1.25B |
| Total liabilities | $6.91B | $5.90B | $6.14B | $5.65B | $5.46B | $5.36B | $5.08B | $4.38B | $4.48B | $3.62B |
| Retained earnings | $235.0M | $204.0M | $317.0M | $321.0M | $662.0M | $530.0M | $622.0M | $456.0M | $86.0M | $195.0M |
| Total equity | $840.0M | $1.33B | $1.64B | $1.60B | $1.98B | $1.83B | $1.97B | $1.44B | $1.11B | $1.24B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $512.0M | $450.0M | $476.0M | $649.0M | $158.0M | $386.0M | $637.0M | $568.0M | $554.0M | $384.0M |
| Depreciation and amortisation | $345.0M | $337.0M | $299.0M | $365.0M | $365.0M | $345.0M | $322.0M | $260.0M | $220.0M | $173.0M |
| Capital expenditure | $214.0M | $312.0M | $427.0M | $440.0M | $369.0M | $326.0M | $426.0M | $325.0M | $393.0M | $322.0M |
| Investing cash flow | -$222.0M | -$352.0M | -$528.0M | -$426.0M | -$293.0M | -$327.0M | -$1.12B | -$462.0M | -$583.0M | -$365.0M |
| Financing cash flow | -$371.0M | -$90.0M | $160.0M | -$42.0M | -$127.0M | -$12.0M | $479.0M | -$180.0M | -$120.0M | -$88.0M |
| Dividends paid | $54.0M | $58.0M | $58.0M | $58.0M | $58.0M | $15.0M | $58.0M | $58.0M | $35.0M | $35.0M |
| Buybacks | $650.0M | — | — | $25.0M | $23.0M | — | $25.0M | $25.0M | — | $81.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-006076.
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