Dauch Corp DCH
The Company, a Delaware corporation, is a successor to American Axle & Manufacturing of Michigan, Inc., a Michigan corporation, pursuant to a migratory merger between these entities in 1999. In 2017, we acquired Metaldyne Performance Group, Inc. (MPG), with MPG becoming a wholly-owned subsidiary of the Company.
On February 3, 2026, we completed our previously announced acquisition of Dowlais Group plc (Dowlais) whereby we acquired the entire issued share capital of Dowlais (the Business Combination). Pursuant to the Business Combination, Dowlais shareholders received for each Dowlais ordinary share: 0.0881 shares of new Company common stock and 43 pence per share in cash (approximately $0.59 per share as of the closing date), resulting in the issuance of approximately 117 million shares (and an increase in authorized shares from 150 million to 375 million shares) and a total purchase price of approximately $1.7 billion. Following the close of the transaction, the combined company is headquartered in Detroit, Michigan and led by the Company's Chairman and CEO.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- North America
- Europe
- Asia
- South America
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| North America | $4.34B | $4.44B | $4.44B |
| Europe | $768.5M | $896.8M | $913.4M |
| Asia | $536.3M | $611.8M | $544.7M |
| South America | $192.3M | $171.5M | $184.4M |
As the company reported it, from the “Revenue from Contracts with Customers - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.84B | $6.12B | $6.08B | $5.80B | $5.16B | $4.71B | $6.53B | $7.27B | $6.27B | $3.95B |
| Cost of revenue | $5.13B | $5.38B | $5.46B | $5.10B | $4.43B | $4.13B | $5.63B | $6.13B | $5.15B | $3.22B |
| Gross profit | $704.5M | $741.4M | $624.3M | $704.9M | $722.7M | $582.7M | $902.6M | $1.14B | $1.12B | $726.1M |
| R&D | $147.0M | $159.0M | $155.4M | $144.0M | $116.8M | $117.4M | $144.7M | $146.2M | $161.5M | $139.8M |
| SG&A | $389.0M | $387.1M | $366.9M | $345.1M | $344.2M | $313.9M | $364.7M | $385.7M | $390.1M | $314.2M |
| Operating income | $112.3M | $241.4M | $146.6M | $243.9M | $240.6M | -$396.0M | -$301.6M | $106.4M | $543.0M | $380.7M |
| Interest expense | $201.1M | $186.0M | $201.7M | $174.5M | $195.2M | $212.3M | $217.3M | $216.3M | $195.6M | $93.4M |
| Pre-tax income | $1.5M | $62.8M | -$24.5M | $66.3M | $1.2M | -$610.3M | -$533.0M | -$113.9M | $340.0M | $299.0M |
| Income tax | $21.2M | $27.8M | $9.1M | $2.0M | $4.7M | $49.2M | $48.9M | $57.1M | $2.5M | $58.3M |
| Net income | -$19.7M | $35.0M | -$33.6M | $64.3M | $5.9M | -$561.3M | -$484.5M | -$57.5M | $337.1M | $240.7M |
| EPS, basic | -0.17 | 0.29 | -0.29 | 0.54 | 0.05 | -4.96 | -4.31 | -0.51 | 3.22 | 3.08 |
| EPS, diluted | -0.17 | 0.29 | -0.29 | 0.53 | 0.05 | -4.96 | -4.31 | -0.51 | 3.21 | 3.06 |
| Shares, diluted (wtd. avg.) | 118.4M | 117.7M | 116.6M | 115.5M | 114.1M | 113.1M | 112.3M | 111.6M | 102.8M | 76.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $708.9M | $552.9M | $519.9M | $511.5M | $530.2M | $557.0M | $532.0M | $478.9M | $376.8M | $481.2M |
| Receivables | $733.0M | $709.1M | $818.5M | $820.2M | $762.8M | $793.2M | $815.4M | $966.5M | $1.04B | $560.0M |
| Inventory | $466.4M | $442.5M | $482.9M | $463.9M | $410.4M | $323.2M | $373.6M | $459.7M | $392.0M | $182.3M |
| Total current assets | $3.63B | $1.91B | $2.01B | $1.99B | $1.86B | $1.88B | $1.86B | $2.03B | $1.95B | $1.30B |
| Property, plant and equipment | $1.59B | $1.62B | $1.76B | $1.90B | $2.00B | $2.16B | $2.36B | $2.51B | $2.40B | $1.09B |
| Goodwill | $174.4M | $172.0M | $182.1M | $181.6M | $183.8M | $185.7M | $699.1M | $1.14B | $1.65B | $154.0M |
| Other intangibles | $375.2M | $456.7M | $532.8M | $616.2M | $697.2M | $780.7M | $864.5M | $1.11B | $1.21B | $28.5M |
| Total assets | $6.67B | $5.06B | $5.36B | $5.47B | $5.64B | $5.92B | $6.64B | $7.51B | $7.88B | $3.42B |
| Accounts payable | $718.3M | $700.5M | $773.9M | $734.0M | $612.8M | $578.9M | $623.5M | $840.2M | $799.0M | $382.3M |
| Short-term debt | $10.4M | $47.9M | $17.0M | $75.9M | $18.8M | $13.7M | $28.7M | $121.6M | $5.9M | $3.3M |
| Total current liabilities | $1.23B | $1.18B | $1.20B | $1.20B | $1.04B | $979.3M | $1.03B | $1.36B | $1.22B | $651.5M |
| Long-term debt | $4.08B | $2.61B | $2.79B | $2.90B | $3.12B | $3.49B | — | — | — | — |
| Total liabilities | $6.03B | $4.50B | $4.75B | $4.84B | $5.18B | $5.54B | $5.66B | $6.02B | $6.34B | $2.92B |
| Retained earnings | -$267.9M | -$248.2M | -$283.2M | -$249.6M | -$313.9M | -$319.8M | $248.6M | $703.5M | $761.0M | $423.9M |
| Total equity | $640.0M | $562.8M | $604.9M | $627.3M | $457.8M | $370.5M | $977.6M | $1.48B | $1.54B | $504.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $411.6M | $455.4M | $396.1M | $448.9M | $538.4M | $454.7M | $559.6M | $771.5M | $647.0M | $407.6M |
| Depreciation and amortisation | $459.5M | $469.7M | $487.2M | $492.1M | $544.3M | $521.9M | $536.9M | $528.8M | $428.5M | $201.8M |
| Stock-based compensation | $13.6M | $15.0M | $13.4M | $17.7M | $18.2M | $19.4M | $22.4M | $27.9M | $43.4M | $21.0M |
| Capital expenditure | $256.5M | $248.0M | $194.6M | $171.4M | $181.2M | $215.6M | $433.3M | $524.7M | $477.7M | $223.0M |
| Investing cash flow | -$169.6M | -$254.8M | -$184.5M | -$243.0M | -$161.1M | -$218.4M | -$306.6M | -$478.2M | -$1.38B | -$227.7M |
| Financing cash flow | $1.40B | -$156.2M | -$205.5M | -$217.2M | -$401.4M | -$214.5M | -$200.0M | -$184.5M | $615.6M | $18.4M |
| Buybacks | $2.8M | $2.8M | $14.7M | $1.9M | $4.3M | $2.7M | $7.5M | $3.7M | $7.0M | $5.2M |
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 0001062231-26-000020.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.95B | $6.27B | $7.27B | $6.53B | $4.71B | $5.16B | $5.80B | $6.08B | $6.12B | $5.84B |
| Gross profit | $726.1M | $1.12B | $1.14B | $902.6M | $582.7M | $722.7M | $704.9M | $624.3M | $741.4M | $704.5M |
| Net income | $240.7M | $337.1M | -$57.5M | -$484.5M | -$561.3M | $5.9M | $64.3M | -$33.6M | $35.0M | -$19.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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