# Dana Incorporated (DAN)

> Source: Nexqual · https://nexqual.com/DAN · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Dana Incorporated (DAN), nexqual.com/DAN" · informational, not investment advice.

**Price:** USD 25.48 (-6.32% on the day) · last close of Oct 28, 2026; US market after hours, not a live price. Prev close 27.2 · day 24.36–26.47 · 52w 18.96–39.56 · market cap $2.74B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.66B, net income $1.11B (14.6% margin), free cash flow $117M (SEC filings).
- Valuation: P/E 2.5x (avg 46.5x at the last 2 fiscal year-ends), EV/EBITDA 6.8x, net debt $1.01B.
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 37.83 (range 35–41).
- Total return with dividends: 1Y +20.1% vs S&P 500 +13.6%; 5Y +30.4% vs S&P 500 +79.8%.
- Next earnings: 2026-10-28, EPS estimate USD 0.69, revenue estimate $1.97B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.95B | $10.2B | $7.61B | $7.73B | $7.50B | $7.66B |
| Gross profit | $837M | $763M | $377M | $378M | $602M | — |
| Operating income | $395M | $86.0M | -$108M | -$176M | $139M | $210M |
| Net income | $197M | -$242M | $38.0M | -$57.0M | $85.0M | $1.11B |
| EPS (diluted) | $1.35 | -$1.69 | $0.26 | -$0.39 | $0.64 | — |
| Free cash flow | -$211M | $209M | $49.0M | $138M | $298M | $117M |
| Gross margin | 9.4% | 7.5% | 5.0% | 4.9% | 8.0% | — |
| Operating margin | 4.4% | 0.8% | -1.4% | -2.3% | 1.9% | 2.7% |
| Net margin | 2.2% | -2.4% | 0.5% | -0.7% | 1.1% | 14.6% |
| Revenue growth | +25.9% | +13.5% | -25.0% | +1.6% | -3.0% | — |
| Cash + short-term investments | $285M | — | — | $494M | $469M | — |
| Total debt | $2.41B | $2.40B | $2.63B | $2.60B | $3.18B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 2.5x · P/S 0.4x · EV/EBITDA 6.8x · EV/Sales 0.5x · P/FCF 23.4x · P/B 1.4x · FCF yield 4.27% · Earnings yield 40.68% · Dividend yield (paid, TTM) 1.86% · Buyback yield (TTM) 20.50% · Net debt $1.01B · EV $3.75B
P/E at fiscal year-ends: Dec 2025 37.4x, Dec 2023 55.5x.

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 37.83 (low 35, high 41).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | UBS | Target lowered | Buy | $38 → $36 |
| 2026-08-14 | Barclays | Target raised | Equal-Weight | $33 → $35 |
| 2026-08-07 | UBS | Target lowered | Buy | $39 → $38 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $33 → $37 |
| 2026-08-07 | Wells Fargo | Target lowered | Equal-Weight | $33 → $28 |
| 2026-07-13 | RBC Capital | Target lowered | Outperform | $41 → $33 |
| 2026-07-09 | UBS | Target lowered | Buy | $42 → $39 |
| 2026-07-07 | Deutsche Bank | Target lowered | Buy | $40 → $39 |
| 2026-07-02 | Barclays | Downgrade | Overweight → Equal-Weight | $41 → $33 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +20.1% | +30.4% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +20.2% | +5.4% |
| Volatility (annualized) | 44.0% | 46.9% |
| Max drawdown | -35.8% (Apr 2026→Jul 2026) | -66.3% (Jan 2022→Oct 2024) |

## Peers (Auto Parts)
ATMU (Atmus Filtration Technologies I) USD 45.09 +0.20% · DORM (Dorman Products, Inc.) USD 129.74 +4.37% · GTX (Garrett Motion Inc.) USD 22.33 +1.45% · GNTX (Gentex Corporation) USD 20.07 -0.69% · LKQ (LKQ Corporation) USD 17.19 +0.53% · LEA (Lear Corporation) USD 116.89 +0.21%

## More
Full page: https://nexqual.com/DAN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in DAN's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/26780/000143774926006076/dan20251231_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Allison Transmission Holdings Inc (ALSN) | "At closing, Dana entered into a transition services agreement, engineering services agreement, intellectual property and trademark license agreements, and certain supply agreements with Allison." |
| Customer | Ford (F) | "Ford Motor Company (Ford) and Stellantis N.V. (Stellantis) were the only individual customers accounting for 10% or more of our consolidated sales in one or more of the past three years." |
| Customer | Stellantis (STLA) | "Ford Motor Company (Ford) and Stellantis N.V. (Stellantis) were the only individual customers accounting for 10% or more of our consolidated sales in one or more of the past three years." |
| Customer | TOYOTA MOTOR CORP/ (TM) | "Toyota Motor Corporation, Volkswagen AG (including Traton SE), and PACCAR, Inc. were our third, fourth and fifth largest customers in 2025." |
| Customer | Volkswagen | "Toyota Motor Corporation, Volkswagen AG (including Traton SE), and PACCAR, Inc. were our third, fourth and fifth largest customers in 2025." |
| Customer | PACCAR INC (PCAR) | "Toyota Motor Corporation, Volkswagen AG (including Traton SE), and PACCAR, Inc. were our third, fourth and fifth largest customers in 2025." |
| Partner | Dana TM4 | "Certain operations that fall outside of the proposed sale perimeter, including certain Dana TM4 joint venture operations and our European hydraulics business, have been integrated into our Commercial Vehicle and Light Ve…" |

Other companies that name DAN in their own reports (relationship from DAN's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Allison Transmission Holdings Inc (ALSN) | 10-K 2026-02-24 | "It is possible that the integration process could result in the loss of our or Dana's key employees, the loss of customers, suppliers, service providers or other business counterparties, the disruptio…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Light Vehicle | $1.38B | 68.6% | +3.3% |
| Commercial Vehicle | $631.0M | 31.4% | +5.2% |
| Total revenue | $2.01B | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $1.20B | 59.8% | +3.9% |
| Europe | $411.0M | 20.4% | +6.5% |
| South America | $199.0M | 9.9% | +8.7% |
| Asia Pacific | $198.0M | 9.9% | -5.3% |
| Total revenue | $2.01B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.69 | $0.81 | -15.4% | $1.97B | 6 |
| Next quarter (ends 2026-12-31) | $0.82 | $0.74 | +10.1% | $1.95B | 6 |
| Current fiscal year (ends 2026-12-31) | $1.84 | $2.44 | -24.8% | $7.78B | 6 |
| Next fiscal year (ends 2027-12-31) | $4.38 | $3.41 | +28.3% | $11.51B | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±15.8%; last 8 reports averaged ±5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 23 | 77.6% | ±15.8% |
| 2026-12-18 | 51 | 56.8% | ±17.0% |
| 2027-01-15 | 79 | 47.3% | ±17.6% |
| 2027-02-19 | 114 | 38.7% | ±17.2% |
| 2027-03-19 | 142 | 45.9% | ±22.6% |
| 2027-06-17 | 232 | 44.4% | ±27.6% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 6, 2026 | Quarter ended Jun 30, 2026 | $0.29 | $0.69 | Miss −58.0% | +1.5% |
| May 15, 2026 | Quarter ended Mar 31, 2026 | $0.51 | $0.44 | Beat +15.9% | -3.7% |
| Apr 29, 2026 | Quarter ended Mar 31, 2026 | $0.51 | $0.44 | Beat +15.9% | -3.1% |
| Feb 18, 2026 | Quarter ended Dec 31, 2025 | $0.12 | $0.38 | Miss −68.4% | +3.9% |
| Oct 29, 2025 | Quarter ended Sep 30, 2025 | $0.18 | $0.32 | Miss −43.8% | +4.3% |
| Aug 5, 2025 | — | — | — | — | +14.6% |
| Jun 11, 2025 | — | — | — | — | -0.1% |
| Apr 30, 2025 | — | — | — | — | +8.5% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-28 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526436335/0001193125-26-436335-index.htm |
| 2026-10-28 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526436150/0001193125-26-436150-index.htm |
| 2026-10-28 | 8-K | Quarterly results; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/26780/000119312526435068/0001193125-26-435068-index.htm |
| 2026-08-13 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526349388/0001193125-26-349388-index.htm |
| 2026-08-13 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526349378/0001193125-26-349378-index.htm |
| 2026-08-06 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526338469/0001193125-26-338469-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/26780/000143774926026123/0001437749-26-026123-index.htm |
| 2026-08-06 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000119312526336684/0001193125-26-336684-index.htm |
| 2026-08-06 | 8-K | Quarterly results; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/26780/000119312526336664/0001193125-26-336664-index.htm |
| 2026-07-31 | 425 | Merger or acquisition communication | https://www.sec.gov/Archives/edgar/data/26780/000095014226002234/0000950142-26-002234-index.htm |
| 2026-07-10 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation; Other material event — “On July 10, 2026, Dana Incorporated (" Dana ") entered into Amendment No. 8 to Credit and Guaranty Agreement (the " Eighth Amendment ") among Dana, as borrower, certain domestic subsidiaries of Dana party thereto (the " Guarantors "), the lenders party thereto and Citibank, N.A., as administrative agent and collateral agent (in such capacities, the " Agent "). The Eighth Amendment amends the Credit and Guaranty Agreement, dated as of June 9, 2016 (as amended from time to time, the " Credit Agreement "), among Dana…” | https://www.sec.gov/Archives/edgar/data/26780/000119312526300962/0001193125-26-300962-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.